Rental rates dropped slightly in Kelowna in May

KELOWNA – Monthly rental reports from two online rental sites show that rent in Kelowna either fell 1.2 per cent or stayed the same between April and May.

Rental.ca showed the cost of renting a one bedroom unit dropped 2.8 per cent to $1,232, based on listings on their site. That meant Kelowna was ranked as the 15th most expensive place to rent in Canada. Rental.ca did not have data available for two bedroom units.

Padmapper.com says its report is based on “hundreds of thousands of active listings across the country,” but doesn’t say if those are just on its own site.

It showed one bedroom apartments for rent at $1,280 per month, the same as April. That placed Kelowna as the seventh most expensive place to rent in Canada.

When it came to suites with two bedrooms, Kelowna ranked as sixth most expensive in the country at $1,700 per month, down 1.2 per cent from April.

The shift in Padmapper.com's ranking is because Barrie, Ontario, has one bedroom units renting for $1,450 per month, versus $1,280 in Kelowna. A two bedroom apartment in Barrie is only $1,490 versus $1,700 in Kelowna.

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