Home Canada New rent report lists Kelowna as 4th most expensive place in Canada

New rent report lists Kelowna as 4th most expensive place in Canada

32
0
New rent report lists Kelowna as 4th most expensive place in Canada

In a somewhat surprising report, Kelowna was ranked as having the fourth-most expensive rental prices in the nation.

Early Newspaper

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.

Story continues below advertisement

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.


Click to play video: 'Vancouver housing market experiences low vulnerability rate: CMHC'



Vancouver housing market experiences low vulnerability rate: CMHC


Vancouver housing market experiences low vulnerability rate: CMHC – Sep 28, 2021

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)


Click to play video: 'Open House: Transforming a Vancouver Special'



Open House: Transforming a Vancouver Special


Open House: Transforming a Vancouver Special – Oct 9, 2021

© 2021 Global News, a division of Corus Entertainment Inc.

Source:
New rent report lists Kelowna as 4th most expensive place in Canada