2025 Budget Guide
Kelowna Cost of Living
Complete breakdown of living expenses in Kelowna, BC. Housing, utilities, groceries, transportation, and income requirements for singles, couples, and families.
Complete Cost Breakdown
Detailed expenses for every major category in Kelowna, BC (2025 data)
Housing
Rent: 1BR $1,800-$2,500/mo, 2BR $2,200-$3,200/mo. Median home price $950K. Mortgage approximately $4,500-$5,500/mo (20% down, current rates).
- 1-bedroom apartment: $1,800-$2,500/month
- 2-bedroom apartment: $2,200-$3,200/month
- 3-bedroom house rental: $2,800-$4,000/month
- Median home purchase: $950,000
- Mortgage (typical): $4,500-$5,500/month
Utilities
BC Hydro (electricity), FortisBC (natural gas), water, and waste. Expect $150-$250/month depending on home size and season.
- BC Hydro (electricity): $80-$150/month
- FortisBC (natural gas): $40-$80/month
- Water & waste: $50-$70/month
- Total utilities: $150-$250/month
Groceries
Food costs similar to other BC cities. Single person $400-$600/month, family of four $800-$1,200/month for groceries and household items.
- Single person: $400-$600/month
- Couple: $700-$900/month
- Family of 4: $800-$1,200/month
- Eating out (casual): $15-$25 per meal
- Dining out (nice restaurant): $40-$80 per person
Transportation
Gas $1.50-$1.80/L, ICBC insurance $150-$250/month. Car essential in Kelowna. BC Transit available but limited coverage.
- Gas: $1.50-$1.80 per litre
- ICBC insurance: $150-$250/month
- Vehicle maintenance: $100-$200/month
- BC Transit pass: $55/month (adult)
- Parking downtown: $2-$4/hour
Internet & Phone
Internet $80-$120/month (high-speed), cell phone $50-$100/month. Bundle packages available from Telus, Shaw, and others.
- Internet (high-speed): $80-$120/month
- Cell phone plan: $50-$100/month
- Cable/streaming: $20-$60/month
- Home phone (if needed): $25-$40/month
Childcare & Education
Daycare $800-$1,500/month per child. Public schools free (excellent quality). Private schools $8K-$20K/year. UBC Okanagan in town.
- Infant daycare: $1,200-$1,500/month
- Toddler daycare: $900-$1,200/month
- Preschool: $800-$1,000/month
- Before/after school care: $300-$500/month
- Private school tuition: $8,000-$20,000/year
Monthly Budget Examples
Realistic monthly budgets for different household types living in Kelowna
Single Person
Required Income: $75,000+
Couple (No Kids)
Required Income: $100,000+
Family of 4
Required Income: $140,000+
Income Needed to Buy a Home in Kelowna
What salary you need to afford different price points in the Kelowna real estate market
| Home Price | Down Payment | Monthly Mortgage | Required Income | Property Type |
|---|---|---|---|---|
| Affordable Condo ($500K) | $100,000 (20%) | $2,400/month | $100,000/year | Entry-level option in Rutland or North Kelowna |
| Median Home ($950K) | $190,000 (20%) | $4,600/month | $175,000/year | Typical single-family home in desirable area |
| Premium Home ($1.5M) | $300,000 (20%) | $7,200/month | $260,000/year | Lower Mission, waterfront, or luxury property |
Income Calculation Note
These calculations assume a 20% down payment and current mortgage rates (approximately 5-6%). First-time buyers can purchase with as little as 5% down, but will require mortgage insurance. Median household income in Kelowna is approximately $85,000, which qualifies for homes around $550K-$650K.
Kelowna Cost Comparison
How Kelowna's cost of living compares to other major Canadian cities
Kelowna
Vancouver
Calgary
Toronto
Kelowna offers 30-40% lower housing costs than Vancouver or Toronto, while maintaining similar quality of life. Calgary is comparable, but lacks Kelowna's lake lifestyle and climate.
Money-Saving Tips for Kelowna Living
Smart strategies to reduce your cost of living while enjoying the Okanagan lifestyle
Buy in Affordable Neighbourhoods
Rutland, North Kelowna, and parts of West Kelowna offer 20-30% lower home prices than premium areas like Lower Mission, while still providing excellent amenities and schools.
Consider Townhomes & Condos
Townhomes median around $690K and condos around $440K—significantly more affordable than detached homes while still offering Kelowna's lifestyle benefits.
Shop at Local Markets
Kelowna Farmers' Market, roadside fruit stands, and local producers offer fresh, seasonal produce at better prices than grocery chains during summer and fall.
Take Advantage of Free Recreation
Kelowna offers free beach access, hiking trails, parks, and outdoor activities. Knox Mountain, Myra Canyon, and numerous lake beaches cost nothing to enjoy.
Bundle Utilities & Services
Get discounts by bundling internet, TV, and phone with providers like Telus or Shaw. Also shop around for car insurance annually—rates vary significantly between providers.
Work Remotely
If possible, negotiate remote work with a higher-paying employer in Vancouver or Toronto while enjoying Kelowna's lower costs and lifestyle. Many tech workers follow this model.
Kelowna Cost of Living FAQs
How much money do you need to live comfortably in Kelowna?
A single person typically needs an annual income of $75,000+ to live comfortably in Kelowna, which covers rent, utilities, groceries, transportation, and entertainment while allowing for savings. Couples should aim for $100,000+ combined, and families of four need $140,000+ to comfortably cover housing, childcare, and family expenses.
Is Kelowna expensive to live in compared to other BC cities?
Kelowna is moderately expensive compared to other BC cities. It's significantly cheaper than Vancouver (30-40% lower housing costs) but more expensive than smaller interior cities like Kamloops or Prince George. Housing is the biggest expense, with median home prices around $950,000 and rent for a 1-bedroom at $1,800-$2,500/month.
What salary do you need to buy a house in Kelowna?
To afford Kelowna's median home price of $950,000, you typically need a household income of $175,000/year or higher. This assumes a 20% down payment ($190,000) and current mortgage rates. Entry-level condos ($400K-$500K) require around $100,000 annual income, while luxury homes ($1.5M+) need $260,000+ in income.
Are groceries expensive in Kelowna?
Grocery costs in Kelowna are similar to other BC cities. A single person spends $400-$600/month on groceries, while a family of four budgets $800-$1,200/month. Prices are comparable to Vancouver and Calgary. Shopping at local farmers' markets and roadside fruit stands in summer can reduce costs.
How much are utilities in Kelowna per month?
Utilities in Kelowna average $150-$250/month depending on home size and season. This includes BC Hydro (electricity) at $80-$150, FortisBC (natural gas) at $40-$80, and water/waste at $50-$70. Winter heating costs are moderate due to Kelowna's mild climate compared to other Canadian cities.
Is Kelowna cheaper than Vancouver?
Yes, Kelowna is approximately 30-40% cheaper than Vancouver for housing costs. Vancouver's median home price exceeds $1.4M compared to Kelowna's $950K, and Vancouver rent for a 1-bedroom averages $2,800 vs. $2,000 in Kelowna. However, groceries, gas, and other costs are similar between the two cities.
Related Resources
Buying a Home in Kelowna
Step-by-step guide to purchasing property in Kelowna's market.
First-Time Home Buyers
Programs, tips, and guidance for first-time buyers in BC.
Moving to Kelowna Guide
Complete relocation guide with neighbourhoods and lifestyle info.
Affordable Rutland Homes
Explore Kelowna's most affordable neighbourhood for buyers.
Ready to Move to Kelowna?
Get expert guidance on budgeting for your Kelowna lifestyle and finding the right neighbourhood for your income. Free consultation with a local realtor.