Average Rent in Kelowna Q4 2025 (October – December)

Presented by Vantage West Property Management

About the Kelowna Rental Market

Kelowna continues to be a highly sought-after destination for residents, thanks to its vibrant economy and desirable quality of life. Nestled along the shores of Okanagan Lake, Kelowna’s growth and popularity highlight its appeal as a premier place to call home.

While rental rates have steadily increased over the past decade, Kelowna still offers more affordable rental options when compared to major Canadian cities like Vancouver and Toronto.

A key factor tilting the balance toward renters: The rental vacancy rate has risen significantly. After hovering near 1.3% in 2023 for purpose-built apartments, it jumped to around 3.8% in 2024. With new supply continuing to come online (some estimates suggest the vacancy rate could reach 5% or more in 2025), the market is shifting. This gives renters more negotiating power and moderates the pace of rental-rate growth (or even leads to small declines in selected segments).

Average Rent Prices in Kelowna – Q4 2025

Rental prices in Kelowna are stabilizing as supply catches up with demand. With vacancy rates rising from historically low levels, renters now have more choice, and the market is gradually balancing out. Still, pricing varies widely based on property type, location, finish level, and number of bedrooms.

Below is a snapshot of typical rental ranges for Q4 2025:

• Single-family homes
  • Luxury homes range from approximately $2,400 for a one-bedroom to $4,000+ for four-bedroom properties.
  • Average homes typically range from $2,000 for a one-bedroom to $3,100+ for four or more bedrooms.
  • Basic homes start around $1,700 for one bedroom and $2,750+ for larger layouts.
• Condo & townhome rentals
  • Luxury condos/townhomes start around $1,550 for studios and reach $3,600+ for four-bedroom units.
  • Average rentals span $1,400 for studios up to $2,800+ for four-bedroom homes.
  • More affordable options begin near $1,250 for studios and $2,500+ for larger units.
• Main-floor suites in houses
  • Luxury main-floor suites range from $1,750 for one-bedrooms to $3,350+ for larger homes.
  • Average suites run between $1,550 for one-bedrooms and $2,750+ for four-bedroom options.
  • Basic suites typically range from $1,450 for one-bedrooms to $2,400+ for larger formats.
• Basement suites
  • Luxury basement suites begin around $1,450 for studios and $2,050+ for three-bedroom suites.
  • Average suites typically fall between $1,250 for studios and $1,750+ for three bedrooms.
  • Basic units range from about $1,000 for studios to $1,600+ for three-bedroom suites.

These figures provide a helpful guide for both landlords and renters navigating Kelowna’s rental landscape. With more inventory entering the market and vacancy rates rising, renters have increasing flexibility and negotiating room, while landlords benefit from setting competitive rents and presenting well-maintained, desirable homes.

Note: Premium neighbourhoods such as Downtown, Lower Mission, Wilden, and Dilworth typically command 10% higher rents, while areas like Vernon, Lake Country, Black Mountain, Glenrosa, and Peachland may trend 10% lower.

Kelowna Average Rents | 2020-2025

Source: CMHC Market Trends – Housing Market Information Portal

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Vantage West Property Management

Vantage West Property Management is a multiple award-winning rental agency with 250+ reviews and 4.7 stars on Google. If you’re planning to switch from short to long-term rentals in Kelowna, we can help you find great tenants, handle your maintenance requests, and take care of any possible tenant disputes. Contact us to learn more about our Guaranteed Rents program and multiple property discount.