8th most expensive to rent – Kelowna News

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By Okanagan Edge staff

The latest monthly data from PadMapper revealed that Kelowna is the eighth most expensive rental market in the country.

Last month’s rental price in Kelowna for one and two bedrooms reached medians of $ 1,420 and $ 1,750, respectively.

“In particular, the price of one-bedroom apartments in Kelowna has increased 10.9% from the same period last year,” says PadMapper.

The latest Canadian National Rent report analyzed hundreds of thousands of ads in June to examine median rental prices in the country’s 24 largest cities.

“The report found that rental demand showed some rebound before the summer, although rental demand has moved away from big, expensive cities. Vancouver and Toronto had another record month of declines, “said PadMapper.

The 5 most expensive markets in Canada according to Padmapper:

  1. In Toronto, Ontario, one-bedroom rent fell 3.7% to $ 2,100 last month, while two-bedroom rent fell 3.6% to $ 2,700. Room rent posted another record year-over-year decline, down 8.3%.
  2. Vancouver, British Columbia also had another month of decline, as one-bedroom rent fell 1.4% to $ 2,070, while two-bedroom apartments fell 4.3 % to $ 2,870. The rent for two bedrooms in this city has been down double digits since that time last year.
  3. Burnaby, British Columbia finished third with one-bedroom rent down 3.4% to $ 1,690, while both bedrooms remained stable at $ 2,300.
  4. Victoria, British Columbia, rents for one and two bedrooms were $ 1,600 and $ 1,990 respectively. In particular, from one year to the next, the rent for a room in this city increased by 15.1%.
  5. Barrie, Ontario supplemented our main markets with one-bedroom rent up 4.7% to $ 1,560, while two-bedroom apartments increased 1.9% to $ 1,620.

The full report and discussion are here.

– Visit okanaganedge.net for more business stories.

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