Want to rent a place in Kelowna? Be prepared to pay.
With a population of more than 125,000, Kelowna is ranked as being the 42nd largest city in the country. Yet when it comes to renting, Kelowna is listed as being the eighth-most expensive city, according to recent research.
The website Padmapper, which helps people find places to rent, released a national top-10 list for the highest one-bedroom rent prices for September. Topping the list was Toronto, with an average monthly rental price of $2,200. Vancouver was second at $2,050 with Burnaby third at $1,650.
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Victoria was seventh at $1,210 with Kelowna eighth at $1,170.
Cities with much populations that have cheaper rent prices than Kelowna include ninth-place Hamilton ($1,150), 13th-place Calgary ($1,100), 17th-place Winnipeg ($930), 19th-place Edmonton ($890) and 22nd-place Saskatoon ($800).
For two-bedroom rent prices, Vancouver was tops at $3,230, with Toronto second at $2,820. Burnaby was third at $2,260 with Kelowna seventh at $1,520 and Victoria eighth at $1,490.
Notably, the price for one-bedrooms in Vancouver rose 1.5 per cent from one year ago. For two-bedrooms, the price rose 2.2 per cent.
In Kelowna, the price for one-bedrooms rose 6.4 per cent, while the price for two-bedrooms fell 3.8 per cent.
Padmapper said that “overall, 13 Canadian cities saw an upward trend, 10 downward, and 1 remained flat last month. Québec ($860) took the biggest rental dip, down 5.5%, and Windsor (750), although still the cheapest city to rent, saw the largest monthly rental growth rate in the country with a 5.6% increase.”
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