Kelowna affordability
The median asking price in Kelowna is $799,000. At the minimum down payment of $54,900, the mortgage would be $744,100, and the payment about $4,132 a month over 25 years.
Median asking
$799,000
Median income
$82,000
Price to income
9.7x
Monthly, stressed
$5,020
Lenders do not qualify you at that rate. Under the stress test the same mortgage is assessed at about $5,020 a month, which is the figure that decides whether the loan is approved.
Households in Kelowna earn a median of $82,000, so the median home asks 9.7 times a full year of household income before tax.
That payment alone would take about 60% of median gross household income, before property tax, strata fees, insurance, heat or anything else a home costs to run.
27% of Kelowna households already spend more than 30% of income on shelter, which is the line Statistics Canada uses to call housing unaffordable.
Against the rest of the province, where the median city sits at about 9.8 times income, Kelowna is close to typical.
WHAT THE PAYMENT FIGURES ASSUME
Ranked by how many years of median household income the median home asks for. A higher multiple means the gap between local pay and local prices is wider.
| City | Median asking | Median income | Price to income | Monthly |
|---|---|---|---|---|
| West Vancouver | $3M | $104K | 28.8x | $13,317 |
| White Rock | $1.29M | $73K | 17.6x | $6,575 |
| Vancouver | $1.40M | $82K | 17.1x | $7,130 |
| Whistler | $1.50M | $99K | 15.1x | $7,630 |
| Duncan | $799K | $53K | 15x | $4,132 |
| Gibsons | $999K | $70K | 14.3x | $5,131 |
| Richmond | $1.06M | $79K | 13.4x | $5,431 |
| Delta | $1.29M | $108K | 11.9x | $6,580 |
| Saanich | $1.09M | $93K | 11.7x | $5,585 |
| Sechelt | $849K | $74K | 11.6x | $4,384 |
| Qualicum Beach | $855K | $77K | 11.2x | $4,411 |
| Courtenay | $799K | $72K | 11.1x | $4,132 |
| North Vancouver | $1.35M | $123K | 11x | $6,885 |
| Nelson | $799K | $73K | 11x | $4,132 |
| Maple Ridge | $1.14M | $105K | 10.9x | $5,835 |
| Oliver | $749K | $69K | 10.9x | $3,881 |
| Parksville | $727K | $67K | 10.9x | $3,769 |
| Surrey | $1.05M | $98K | 10.8x | $5,411 |
| Burnaby | $899K | $83K | 10.8x | $4,631 |
| Victoria | $729K | $68K | 10.8x | $3,779 |
| Coquitlam | $976K | $92K | 10.6x | $5,014 |
| Hope | $676K | $64K | 10.6x | $3,517 |
| Port Coquitlam | $1.05M | $102K | 10.3x | $5,386 |
| Lake Country | $999K | $98K | 10.2x | $5,131 |
| Squamish | $1.10M | $111K | 9.9x | $5,631 |
| Summerland | $800K | $82K | 9.8x | $4,136 |
| Kelowna | $799K | $82K | 9.7x | $4,132 |
| Nanaimo | $725K | $76K | 9.6x | $3,762 |
| Penticton | $639K | $68K | 9.4x | $3,332 |
| Langley | $998K | $108K | 9.2x | $5,128 |
| Mission | $899K | $98K | 9.2x | $4,631 |
| Salmon Arm | $689K | $75K | 9.2x | $3,582 |
| Port Alberni | $579K | $63K | 9.2x | $3,035 |
| Abbotsford | $800K | $90K | 8.9x | $4,136 |
| Sooke | $799K | $90K | 8.9x | $4,132 |
| Campbell River | $685K | $78K | 8.8x | $3,560 |
| Chilliwack | $740K | $85K | 8.7x | $3,836 |
| Vernon | $625K | $74K | 8.5x | $3,262 |
| New Westminster | $700K | $82K | 8.5x | $3,636 |
| Powell River | $567K | $67K | 8.5x | $2,972 |
| Port Moody | $949K | $115K | 8.3x | $4,881 |
| Pitt Meadows | $858K | $104K | 8.3x | $4,427 |
| Osoyoos | $519K | $66K | 7.9x | $2,732 |
| Langford | $715K | $93K | 7.7x | $3,712 |
| West Kelowna | $750K | $99K | 7.6x | $3,887 |
| Kamloops | $605K | $88K | 6.9x | $3,162 |
| Merritt | $469K | $70K | 6.7x | $2,473 |
| Williams Lake | $465K | $77K | 6.1x | $2,452 |
| Quesnel | $390K | $67K | 5.8x | $2,057 |
| Prince George | $447K | $88K | 5.1x | $2,358 |
| Fort St. John | $429K | $102K | 4.2x | $2,265 |
| Dawson Creek | $342K | $81K | 4.2x | $1,806 |
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Income, tenure and shelter-burden figures are from the 2021 Census of Population, Statistics Canada, at the census subdivision level. Asking prices are live BCRES MLS® data and refresh hourly. Payment figures are worked examples at a published rate, not a rate quote, an approval, or financial advice.