Kamloops 1- and 2-bedroom apartments see year-over-year rental rates converging

One-bedroom units saw a 4.4 per cent month-to-month decline, from $1,879 per month in June to $1,796.

Meantime, two-bedroom units have seen a more modest 3.7 per cent decrease to $2,034 per month in July, down from $2,113 last month.

According to Rentals.ca data, the numbers place Kamloops as the 37th-most expensive city to find a rental unit in Canada.

Provincially, the average cost of rent in B.C. is $2,377 per month, $340 more than the nation average of $2,037.

In a statement, B.C.’s Housing and Municipal Affairs Christine Boyle touted the success of the provincial government’s steps to bring down the price of rent.

“Our efforts to return short-term rentals to the long-term housing market have been instrumental in this effort and they also beat the predictions of people who wanted to put profits ahead of people,” said Boyle.

“We know we need to keep working hard to ensure we can continue to bring down the cost to deliver more homes for people throughout this province to see these trends continue.”

Rentals.ca said North Vancouver remains the most expensive rental city in the country, with an average monthly rental cost of $2,983.

According to Rentals.ca, four of Canada’s top 10 most expensive cities to find rentals are in B.C.’s lower mainland (North Vancouver, Vancouver, Coquitlam and Burnaby), while the other six are in Ontario.

by Elora McCormack

Kamloops 1- and 2-bedroom apartments see year-over-year rental rates converging

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