Kelowna is one of the least expensive cities in British Columbia to rent an apartment, according to a national report by Rentals.ca and Bullpen Research & Consulting.
According to the report, Kelowna is the least expensive city for a one-bedroom unit and next to last for a two-bedroom unit out of the seven British Columbia cities listed. North Vancouver is the most expensive city for a one-bedroom unit.
The report stated the average monthly rent for a one-bedroom unit in Kelowna is $1,233, while the average monthly rent for a two-bedroom unit is $1,912.
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In comparison, the average monthly rent for Canadian properties in October was $1,940 per month, a decrease of 0.7 per cent month-over-month, but an increase of 5.5 per cent year-over-year.
On a provincial level, Ontario had the highest rental rates in October, with landlords seeking $2,334 per month on average (all property types), which is unchanged month-over-month, but increased by 9.1 per cent annually. B.C. finished second for average rent for all property types at $1,960.
sa国际传媒淎nnual rent growth in Canada continues to exceed inflation,sa国际传媒� said Ben Myers, president of Bullpen Research and Consulting. sa国际传媒淭he national figures are propped up by hot markets in Ontario and B.C., which are still suffering from a lack of new supply.sa国际传媒�
In terms of cities, Torontosa国际传媒檚 monthly rent edged up slightly to $2,320 to remain the priciest city for renters for a one-bedroom home, while Vancouver had the highest rents for a two-bedroom at $2,446.
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