Kelowna ranked 15th in national rent report for July

When it comes to rental pricing, Kelowna is punching above its market size.

On Tuesday, Rentals.ca released its July 2019 national rent rankings.

Toronto, as expected, topped the list, with a one-bedroom unit having an average rent of $2,266 a month. A two-bedroom unit in the nation’s largest city was listed at $2,782.

Kelowna was ranked 15^th overall by Rentals.ca, with a one-bedroom unit having an average rental price of $1,430 a month. A two-bedroom unit was listed as having an average rental price of $1,818.

Those prices are above 16^th-place Victoria ($1,406 and $1,774, respectively), which has a much larger population at 367,770.

In fact, in its 2016 census, Stats Canada lists Kelowna’s population as 151,957, though other websites have the city’s population around 125,000. Either way, Kelowna is outside of Canada’s top 20 biggest cities and hovers between 20th and 45th.

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Vancouver was listed as having the nation’s second-highest prices, with a one-bedroom unit average rent of $1,990. The average two-bedroom unit was listed at $2,833, higher than Toronto’s $2,782.

Of the 33 cities listed by Rentals.ca, Gatineau, Que., had the lowest average prices, with a one-bedroom until going for $825 and a two-bedroom unit at$1,101.

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According to Rentals.ca, the average asking rent in B.C. was $1,852 per month, an increase of 3.1 per cent month-over-month.

For more on the rent prices, click here.