Out of 34 Canadian cities, report said Kelowna had highest monthly rent increase

Rental prices have been on the rise in Kelowna over the last couple months (File photo)

Kelowna had the highest monthly rent increase for a one-bedroom apartment in November out of 34 Canadian cities, according to a Rentals.ca and Bullpen Research and Consulting report.

Between October and November, the report said one-bedroom units in Kelowna saw a 10.8 per cent increase in price to an average rental cost of $1,365.

This sets the Okanagan city apart from the average Canadian city, where one-bedroom units dropped in cost by 0.2 per cent to $1,390 between October and November.

In comparison, two-bedroom units in Kelowna, rentals only increased by 2.8 per cent to $1,966 over the same two months.

The report said Vancouver had the highest average two-bedroom rental price in November at $3,058.

Across the country, the report predicts the average rental price in Canada to increase by three per cent in 2020.

@connortrembley

connor.trembley@kelownacapnews.com

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