Rental rates up and down in Kelowna as summer ends

KELOWNA – The cost of renting a one-bedroom apartment in Kelowna jumped almost five per cent in August over July but the median rental rate for a two-bedroom unit dropped by about the same amount, according to the monthly rent report issued by Padmapper.com.

It listed Kelowna as having the seventh most expensive one-bedroom rental rates in Canada at $1,340 per month, up 4.7 per cent from July and 14.5 per cent from August 2018.

The median price for two bedrooms was $1,650, down 4.6 per cent from July but still up 8.6 per cent from last year. That makes Kelowna the sixth most expensive city in the country.

Rentals.ca puts out similar data but the rates cited don’t match Padmapper. Kelowna was not included in the Rentals.ca list for August.

“We did not have enough one-bedroom homes listed this past month for Kelowna to make an accurate comparison to the month before,” Paul Danison from Rentals.ca wrote in an email. “We don't list any short-term rentals and using the numbers we had could have been misleading.”

Toronto topped the list with a one-bedroom apartment going for $2,300 per month, while in Vancouver it was $2,200.

No other Interior B.C. city is listed but Victoria tied with Barrie, Ontario, as the fifth most expensive city for a one-bedroom apartment at $1,400.

To contact a reporter for this story, email Rob Munro or call 250-808-0143 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.

We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above.