"Kelowna's rental market is currently out of balance, due to a surge of purpose-built rentals entering the market during the last few years," said Karen Christiansen. In 2023, Kelowna had a rental vacancy rate of 1.3%. By the end of 2025, the vacancy rate had risen to 6.8%, meaning more than five times as many apartments available for rent. In August 2025, the median monthly rent for a typical 1 bd apartment in Kelowna was a record $2,010.
 | The numbers for January 2026 showed a 1 bd is $1,690 a month, a 16% plunge. For 2 bd apartments, the January median was $2,150 -- a 20% decline. | When Kelowna's vacancy rate was tight and jobs plentiful, the city, provincial and feds worked to spark a rental apartment boom by offering developers financing, tax breaks, higher density, reduced parking requirements, less red tape and faster approvals. |
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6-storey apartment wood frame complexes appeared everywhere as supply outstripped demand. Kelowna is still unaffordable. It's the 6th most expensive city in Canada to rent. Eager to launder money, Troika and Canco Petroleum teamed up for multiple new, very cheap, wood frame condo builds on City land. |  |
 Renee Merrifield |  |  Parmjeet Sehgal |  Tom Dyas |
Tom Dyas limitless corruption creates more problems than he will ever solve. The sous chef has zero clue about economics and is hopelessly unqualified to run Kelowna.
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