Kelowna ranks #13 as the most expensive place to rent in Canada
Despite a 14.3% increase in the average rent rate for a one bedroom apartment in April, Kelowna is now ranked as the thirteenth most expensive city in Canada.
Normally it’s been number 10 out of 35 cities Rentals.ca ranks in its monthly report.
Rents went up 0.8% month-over-month in the city for one bedroom apartments that now cost $1,952 a month. Two bedroom rents fell 1.9% month over month to $2,597.
READ MORE: Housing starts up more than 200% in Central Okanagan
Vancouver remains the most expensive city in Canada with one bedrooms going for $2,787 and two bedrooms coming in at $3,741.
“Compared to the pandemic-low in April 2021 ($1,662), rents in Canada have increased by 20%, or by an average of $340 per month,” the rent report says.
Nationally, the average rent for a one bedroom apartment is $2,002.
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