Kelowna records third highest average rent in Canada – Penticton Western News
Kelowna is the third most expensive city in Canada in terms of rent prices, according to a recent Canadian Rent Report.
Released March 15 by rental site Zumper, the report ranks Kelowna just behind Vancouver and Toronto.
Vancouver’s average rent is listed as a whopping $2,190 per month for a one-bedroom rental, while Toronto is listed at $1,900.
The average rent in Kelowna is $1,800.
The report lists the return of renters to major Canadian cities as COVID-19 restrictions ease as a major factor in recent rent spikes.
Kelowna recorded the fastest one-bedroom rental rate in the country last month, up 5.3%. The spike caused Kelowna to bump Victoria into the third most expensive price in Canada.
Over the past year, Kelowna’s rent has gone up about 21%.
For a two-bedroom rental, Kelowians can expect to shell out an average of $2,150, a growth rate of 4.9%.
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