Rental Market Update: May 2024
With the change in short term rental regulations now in play, we’re starting to see some effects of the added inventory on the long term market.
Kelowna
Rents in Kelowna are up and down this month. Prices for studios and two bedroom units have come down the most, while demand for private single bedroom units, and larger units like townhomes and single family houses that can accommodate families, has remained strong, driving prices up.
West Kelowna
Across the lake in West Kelowna, rents are on the rise overall, but single family home prices continue to decline as a result of more listings coming on the market.
Vernon
Vernon remains the most affordable rental market overall, with the exception of 4+ bedroom homes.
