Average Rent in Kelowna Q4 2024 (October-December)
Presented by Vantage West Property Management
| Single Family | ||||
| Rental Income Grid | 1 Bedroom | 2 Bedroom | 3 Bedroom | 4+ Bedrooms |
| Luxury | $2,200 | $2,800 | $3,300 | $4,100+ |
| Average | $1,900 | $2,250 | $2,800 | $3,200+ |
| Basic | $1,700 | $2,000 | $2,650 | $2,900+ |
| Add 10% for Downtown, Lower Mission, Wilden, Dilworth | Subtract 10% for Vernon, Lake Country, Black Mountain, Glenrosa, Peachland | ||||
| Condo/Townhome | |||||
| Rental Income Grid | Studio | 1 Bedroom | 2 Bedroom | 3 Bedroom | 4+ Bedrooms |
| Luxury | $1,700 | $2,200 | $2,750 | $3,600 | $3,800+ |
| Average | $1,500 | $1,750 | $2,000 | $2,650 | $3,000+ |
| Basic | $1,300 | $1,650 | $1,800 | $2,300 | $2,750+ |
| Add 10% for Downtown, Lower Mission, Wilden, Dilworth | Subtract 10% for Vernon, Lake Country, Black Mountain, Glenrosa, Peachland | |||||
| Partial Home - Main | ||||
| Rental Income Grid | 1 Bedroom | 2 Bedroom | 3 Bedroom | 4+ Bedrooms |
| Luxury | $1,850 | $2,400 | $3,000 | $3,300+ |
| Average | $1,650 | $1,900 | $2,350 | $2,800+ |
| Basic | $1,550 | $1,800 | $2,100 | $2,450+ |
| Add 10% for Downtown, Lower Mission, Wilden, Dilworth | Subtract 10% for Vernon, Lake Country, Black Mountain, Glenrosa, Peachland | ||||
| Partial Home - Suite | ||||
| Rental Income Grid | Studio | 1 Bedroom | 2 Bedroom | 3 Bedroom |
| Luxury | $1,500 | $1,700 | $1,900 | $2,100 |
| Average | $1,350 | $1,500 | $1,700 | $1,850 |
| Basic | $1,100 | $1,300 | $1,500 | $1,700 |
| Add 10% for Downtown, Lower Mission, Wilden, Dilworth | Subtract 10% for Vernon, Lake Country, Black Mountain, Glenrosa, Peachland | ||||
About the Kelowna Rental Market
Kelowna, the largest city in British Columbia’s picturesque Okanagan Valley, continues to be a highly sought-after destination for residents, thanks to its vibrant economy and desirable quality of life. Nestled along the stunning 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.
Recent policy changes have been implemented to further stabilize the rental market. In July 2024, the B.C. government introduced a new landlord portal aimed at preventing bad-faith evictions, ensuring that evictions for “personal use” by landlords are legitimate. This portal provides added protection for tenants and aims to create a more transparent and fair rental environment. Such measures are expected to contribute to a more balanced rental market in Kelowna. For further details, visit the BC Government Residential Tenancies page.
Average Rent Prices in Kelowna
As of Q4 2024, rental prices in Kelowna have slightly adjusted. The average rent for a 2-bedroom apartment now sits at $2,800 for luxury units, while basic rentals average $2,000. Across all unit types, the median rental price is $2,300, maintaining Kelowna’s competitive edge in the Canadian rental landscape.
Our updated rental grid provides a comprehensive look at the current market rates for different housing types, from luxury single-family homes to more modest apartments. Whether you’re looking for a spacious family home or a downtown condo, our rental guide offers the most up-to-date information to assist you in making informed housing decisions
Browse our Kelowna Rental Listings
Looking for a house, townhome, condo, or apartment for rent in Kelowna? Check our active rental listings in Kelowna.
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.
Get a Free Rental Analysis
Not sure how to determine the best rental price for your investment property? At Vantage West Property Management, we know the local real estate market inside and out. With decades of experience pricing Okangan homes for sale and rent, we can conduct a data-driven market analysis to show you what homes like yours are renting for in Kelowna and Vernon.