Rental Housing Market

The 2006 Census reported 19,410 occupied private dwellings in Greater Penticton, of which 5,530 (30 percent) are rented dwellings. Vacancy rates in Penticton, as well as in other major Okanagan Valley cities, have fallen steadily in recent years and are at their lowest level in over a decade.

Private Townhouse and Apartment Vacancy Rate (%)

Location Year
2001 2002 2003 2004 2005 2006 Apr 2008 Apr 2009
Penticton 5.0 2.7 2.5 2.2 1.0 1.8 0.4 1.9
Vernon 6.4 5.7 2.2 2.0 1.8 0.7 0.8 2.3
Kelowna 1.3 1.8 1.6 1.1 0.5 0.7 0.4 3.4

Source:  CMHC, Rental Market Report, British Columbia Highlights, Spring 2009

Monthly Rent for Housing Types

The following shows a typical range of monthly rents for a variety of housing types and sizes as tabulated from the classified ads of The Penticton Herald (March 4, 5, 6 & 7, 2009 ) and Penticton Western News (March 4, 6 & 11, 2009).

Type of Housing Price Range ($ per month)
Studio 1-Bed 2-Bed 3-Bed 4-Bed
Suites/Apartments 500 – 750 600 – 850 750 – 1,100 750
Condos 995 – 1,300 925 – 2,000
Townhouses 1,100 – 1,290 1,000 – 1,700
Duplexes/Fourplexes 750 – 1,250 900 – 1350 1,350 – 1,600
Houses 900 – 2,000 1,100 – 1,900 1,350 – 1,600

Source:  CMHC, Rental Market Report, British Columbia Highlights, Spring 2009

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