Kelowna Rentals - Vacancy & Prices

[Moops]

Extremely tight rental market in Kelowna! According to the Canada Mortgage and Housing Corporation, Kelowna’s rental vacancy rate is 0.6 per cent. Victoria and the Abbostford-Mission are the only areas have lower vacancy rates. Vancouver’s vacancy rate is 0.7 per cent.

http://globalnews.ca/news/3096622/kelow ... 43979696=1

[Moops]

According to PadMapper, Kelowna is now the 6th most expensive Canadian city to rent a home (based on 25 of the largest cities in the country)! Their study showed that Kelowna's market for a one bedroom rental grew 3.8 per cent to $1,100. per month.

http://www.kelownacapnews.com/news/rent ... expensive/

[Moops]

Apparently the rental market has become even more squeezed for available, and affordable, housing. Kelowna's rental availability rate dropped to .2 percent, with average costs increasing 8.6 per cent.


https://infotel.ca/newsitem/kelowna-har ... me/it48045

[Moops]

The rental housing crunch in Kelowna continues into 2018 ...

https://infotel.ca/newsitem/more-grants ... te/it49590

[Moops]

Such a tough rental market!!

https://infotel.ca/newsitem/the-extreme ... na/it50997

[Moops]

Affordability continues to be an issue for housing rentals in the Okanagan...

https://globalnews.ca/news/4194649/near ... ford-rent/

[Moops]

The City of Kelowna council are optimistic -while others on social media think they are delusional....

https://infotel.ca/newsitem/things-are- ... 2aWkGTZ3Ds

[Moops]

The rental market in much of the Okanagan is incredibly tight in availability, with many people finding the asking prices more than they can afford. The BC gov't is presently changing laws surrounding short term vacation rentals (under 30 days in Kelowna), in order to alleviate the strain on the lack of longer term rentals. The added competition of newcomers and students (UBCO & Okanagan College) is making it even tougher for local residents to find somewhere to live, especially in the Kelowna area.

One of the local websites did a cost comparison of the Central Okanagan rental classified listings on its site & noted that prices for a 2 bedroom suite had dropped by approximately $250. per month, in total, since July 2023. A drop hasn't happened in a few years, so that's a small consolation. Approximate prices for a 2 bedroom were listed at $2,411 in July and $2,177 in October. One bedroom units in October didn't decrease much and averaged at $1.597 per month.