In a somewhat surprising report, Kelowna was ranked as having the fourth-most expensive rental prices in the nation.
According to the website Zumper.com, the median price of a one-bedroom rental in Kelowna is now $1,610 a month.
That’s well below Vancouver, at $2,130 a month, but ahead of much bigger cities, like fifth-place Victoria ($1,600), seventh-place Ottawa ($1,500) and 10th-place Hamilton ($1,450).
“Kelowna up a spot to become the fourth-most expensive rental market with one-bedroom rent increasing 0.6 per cent to $1,610, while two-bedrooms jumped 4.8 per cent to $2,180,” Zumper said in its latest Canadian Rent Report.
The median price for a two-bedroom in Vancouver was listed at $2,900.
Toronto was second, with one-bedrooms at $1,800 and two-bedrooms at $2,250.
Barrie, Ont., was third, with one-bedrooms at $1,700 and two-bedrooms at $1,850.
Victoria was fifth, with one-bedrooms at $1,600 and two-bedrooms at $2,150.
Year over year, Zumper said Kelowna’s one-bedroom pricing increased 7.3 per cent from 2020, while two-bedroom pricing increased 24.6 per cent.
In June, PadMapper released its Canadian Rent Report.
PadMapper had Vancouver in first in terms of rental pricing, with one-bedroom rents going for $1,950. Toronto came in second ($1,800) and Burnaby, B.C., in third ($1,700).
They were followed by:
- Barrie ($1,650)
- Victoria ($1,600)
- Oshawa ($1,570)
- Kelowna ($1,520)
- Ottawa ($1,480)
- Kitchener ($1,380)
- Montreal ($1,380)