Kelowna has the seventh-most expensive rental market in Canada, according to a new analysis.
The median monthly rent for a one-bedroom apartment in the Okanagan’s biggest city was $1,520 in May, PadMapper said.
A two-bed, meanwhile, was $1,800 a month.
One-bed prices have increased 2.7% month-over-month and 5.6% year-over-year, the firm said.
For two-beds, prices have increased 1.1% month-over-month and 4.7% year-over-year.
PadMapper said it factored in hundreds of thousands of listings across the country to gather its latest data.
It found Vancouver to be the most expensive rental market, with a median monthly cost of $1,950 for a one-bed apartment (and $2,730 for a two-bed).
PadMapper said Abbotsford is the city with the fastest-rising rental prices in Canada.
The median monthly cost to rent a one-bed apartment in the city has risen 15.7% year-over-year ($1,330), and 16.1% for two-beds ($1,800).
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