Rent in Kelowna on the rise as national rate falls

The asking rental price for one-bedroom apartments fell marginally in Canada in February compared to January.

Rents in Kelowna went the other way climbing 3.3% month-to-month to $1,914.

Despite the increase that’s 2.7% less than February 2023 and leaves Kelowna slightly below the national average for the 35 cities tracked by Rentals.ca of  $1,944.

The rental rate for a two-bedroom apartment increased by 1.4% in February to $2,375, which is also down from last year by 4.8%.

Kelowna is ranked number 18 out of the 35 cities, which is the same place it held last month.

Vancouver continues to be the most expensive rental market in the country at $2,653 for one-bedroom apartments and $3,541 for two bedrooms. Both are down from January.

Of the 35 cities tracked by Rentals.ca, Saskatoon is the most affordable at $1,183 for a one-bedroom apartment.

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