1089 Sunset Drive, Kelowna, B.C. (Contributed)

COVID-19 affecting Kelowna rental market

Kelowna rent for a two-bedroom home is down in April over March, according to report

Average monthly rents were down in April compared to March in many Canadian cities including Kelowna, according to the monthly National Rent Report from Rentals.ca and Bullpen Research and Consulting.

Rental apartments and condo apartments were also listed on Rentals.ca. They were down 3.2 per cent and 4.6 per cent respectively month over month, even though average rents in Canada were unchanged in April over March.

Statistics indicate COVID-19 is beginning to affect the rental market.

Kelowna’s average monthly rent in April for a two-bedroom home was $1,829, down from $1,847 in March. Average monthly rent a year ago in April in Kelowna was $2,091.

READ MORE: Kelowna events company goes virtual with 50 % of functions

In comparison, Vancouver finished sixth on the list of 33 cities for average monthly rent for all property types for a one-bedroom home at $1,894 and third for average monthly rent for a two-bedroom at $2,478. Month over month rent in Vancouver was down 5.6 per cent for a one-bedroom and 15.8 per cent for a two-bedroom.

On a provincial level, Ontario had the highest rental rates in April 2020, with landlords seeking $2,141 per month on average for all property types (median: $2,080). British Columbia had the second-highest rental rate at $1,946 per month (median: $1,800), while Newfoundland and Labrador had the lowest at $1,001 (median: $855).

READ MORE: Several stores at Kelowna’s Orchard Park Mall expected to reopen after May long weekend


Daniel Taylor
Reporter, Kelowna Capital News
Follow me on Twitter

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Rain in Sunday forecast for Okanagan-Shuswap

Environment Canada calling for 15-20 millimetres in regions

Arena served Summerland for 26 years

Warm winters meant short ice seasons in early 1950s

Severe thunderstorm watch in effect for Okanagan, Shuswap

Environment Canada is forecasting strong wind gusts, large hail and heavy downpours in parts of the Interior

WorkSafe BC conducted 70 inspections in the Okanagan amid B.C.’s reopening plan

WorkSafe BC has conducted 100 inspections at restaurants across the province since May 19

EDITORIAL: Revisiting alcohol consumption

A proposal to allow alcohol consumption in some public spaces in Penticton deserves consideration

QUIZ: Test your knowledge of the world of summer sports

In a typical year, there are plenty of summer sporting events and tournaments held across Canada

PHOTOS: Okanagan residents capture epic lightning show

A look at some of the best shots of the storm on May 30

Big White Ski Resort to offer rebate for pass holders after early closure

Next year’s pass will include a 20 per cent rebate

‘No tick is a good tick’: Canadian Lyme Disease Foundation

The foundation’s president said all ticks that attach to humans and pets can carry various diseases

Protesters rally against anti-black, Indigenous racism in Toronto

Police estimated the crowd to be between 3,500 and 4,000 and said there was no violence

Feds earmark $1.5M to support recovery of B.C., Indigenous tourism

B.C. money will be split between Vancouver Island and Indigenous tourism

‘We’re sick of it’: Anger over police killings shatters U.S.

Tens of thousands marched to protest the death of George Floyd

District offers safety tips after cougar spotted near Lake Country school

The animal was seen on a walking trail near Peter Greer Elementary Saturday morning

Surrey mayor’s party under fire for ‘sickening’ tweet accusing northern B.C. RCMP of murder

Mayor Doug McCallum says tweet, Facebook post ‘sent out by unauthorized person’

Most Read