Average rent in Kelowna declined in 2023 but still very expensive

While the average rent charged across Canada went up by 8.6% in 2023, rent for both one and two-bedroom units in Kelowna declined. The average asking rent for all property types across Canada reached $2,178, according to Rentals.ca data released today, Jan. 16. Kelowna ranked as the 15th most expensive out of 35 major cities on the list in December. Rent for one-bedroom apartments dropped 4.3% year-over-year to $1,897 and two-bedroom rents were down 4.6% to $2,367. The rents weren’t averaged over all property types. READ MORE:Kamloops and Kelowna housing starts lagged behind rest of BC in 2023 https://infotel.ca/newsitem/kamloops-and-kelowna-housing-starts-lagged-behind-rest-of-bc-in-2023/it102691 Vancouver rent for one-bedroom units was up 4% year-over-year to $2,700, the highest in the country. Two-bedroom rent was up 2.7% to $3,660. Burnaby was the second most expensive city with rent for one-bedroom at $2,600, while Toronto came in third at $2,521 for a one-bedroom apartment. A one-bedroom unit in Saskatoon was the best deal among the 35 cities at $1,150 per month. To contact a reporter for this story, email Rob Munro mailto:rmunro@infonews.ca  or call 250-808-0143 or email the editor mailto:news@infonews.ca . You can also submit http://tips@infonews.ca photos, videos or news tips to the newsroom mailto:tips@infonews.ca  and be entered to win a monthly prize draw. We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here https://infotel.ca/newsletter .