Rent drops in Kelowna but still more than $2,000 per month

The average rent for a one-bedroom apartment fell 3% in Kelowna in September versus August but that still leaves the average rent at $2,067, down $64 from the month before.

The rent on a two-bedroom apartment in Kelowna dropped 3.5%, or $98, to $2,775, according to Rental.ca report.

This came as asking rent on the website hit an all-time high of $2,149 across the country. That’s a 1.5% increase from August and is up 11% from September 2022.

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Despite a 0.4% drop, Vancouver led the way with high rent at $2,976 for a one-bedroom apartment. That’s $276 higher than Burnaby, which recorded the second highest rent in the country out of 35 cities listed and putting it for the first time ahead of Toronto.

Kelowna grabbed the 13th spot nationwide.

The rent for a two-bedroom apartment in Vancouver was up 0.7% to $3,908.

The most affordable rent of the 35 cities listed was in Saskatoon where the average one-bedroom apartment is advertised at $1,070 and a two-bedroom apartment at $1,244.

See the full report here.

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