Kelowna is a city located in the south region of British Columbia. This city is famous for miles of beautiful parkland and many sandy beaches which give amazing opportunities for swimming, water-skiing, windsurfing, fishing, and boating.
Kelowna is quite an affordable city to buy a house. It is actually an affordable city to live in. An estimated monthly cost of a single person in Kelowna is about $891. This city is about 22.92 percent less expensive than New York. Rent in the city on average, 58.69 percent less than in New York.
Average Housing Price in Kelowna:
The average price is different for different construction styles in Kelowna. In March, the benchmark price of the single-family houses sold out in central Okanagan was a record high and was $829,400, up a staggering 23.4 percent from $672,000.
Townhomes are more expensive than condominiums but they are still affordable. You can easily buy a townhome in Kelowna within the range of $400,000 to $600,000. This price was high up to $541,900, up 14.6 percent. But the condominiums are the cheapest ones in Kelowna. For a condominium, this price is $425,300, a bump of 6.1 percent.
The real estate market of Kelowna is likely to continue as a seller’s market in 2021. The average sales price in the city increased 5.6 percent to $553,175 in 2020 as compared to $523,832 in the previous year.
Homes for sale in Kelowna:
In Kelowna, about half of the buildings are single detached houses, while townhomes and small apartment buildings are also available in the housing stock. Kelowna has a good selection of options of housing size that ranges from lofts to 4 or more bedrooms. Almost 70 percent of units in Kelowna are occupied by the homeowners while the remaining are rented. About 30 percent of houses in Kelowna were constructed between 1950 and 1980, while most of the remaining buildings were built in the 1980s and 1990s.
What kind of houses can people afford in Kelowna?
You can buy a house and be the owner of your own house in Kelowna in the range of just $400,000 to $600000. Homes with different construction styles and different numbers of bedrooms and baths are available in different areas of Kelowna.
One bed and one bath apartments are available at 1093 Sunset Drive, Kelowna, British Columbia V1Y 9E4. The cost of this apartment is about $419,900. Similarly, a 6 bedroom and 6 bath apartment is available at 860 Manhattan Drive, Kelowna, British Columbia V1Y 1H5. The cost of this apartment is $ 32,9500.
Cheapest neighborhood to live in Kelowna:
There are a large number of Kelowna neighborhoods. If you are looking for a fresh start in the Kelowna neighborhood that is affordable? Luckily there are some Kelowna neighborhoods that are still very affordable. One of the cheapest neighborhoods is Leather-97 South. The population of this neighborhood is about 222 individuals. This Kelowna neighborhood is 13 percent lower than Kelowna.