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There are many similarities between Kelowna and Vernon. Kelowna is definitely the larger of the two cities, but with the size also comes some headaches that you wouldn't likely see in Vernon. In this video, Vernon versus Kelowna I break down the major differences that could be the deciding factor of your move as well as look at the similarities between the two communities.
The BIG difference between Vernon and Kelowna is the size.
Vernon’s population according to 2021 census data sits at 44,519. Kelowna on the other hand is quite a bit larger coming in at 144,000 and if you include West Kelowna in that you can add on another 36,000 to round it out to an even 180,000.
So what does that mean besides more people? Well it means more traffic. Bigger headaches when it comes to infrastructure. A big population jump during the summer months with all the tourists flooding the area.
But, it also means that with a larger population comes more amenities.
For example, there are two Home Depots in Kelowna and West Kelowna. Kelowna has the ONLY Costco in the southern interior. You have greater access to more variety in shopping, restaurants, gyms, movie theaters etc, etc, etc.
So what would you pay for a single family home in Vernon?
Let’s look at some of the averages for the two communities.
Right now the benchmark price for a single family home in Vernon is sitting at $717,000. This includes the North Okanagan which would encompass areas like Armstrong, Coldstream, Enderby, Predator Ridge and everything in between.
As of the end of January 2023 there are 75 homes listed for sale under $730,000.
How does that compare to Kelowna you ask?
Same time frame, larger market, more homes typically for sale and there are 27 single family options under $730,000 in the Greater Kelowna Area.
The benchmark price for a single family home right now in Kelowna is quite a bit higher sitting at $1M 2 thousand 4 hundred dollars. This would include areas like Peachland, West Kelowna, Kelowna and Lake Country which make up the Central Okanagan.
It certainly seems that Vernon wins out on this comparison, smaller market, but 2.5 times the homes listed for sale in the same price bracket.
If affordability in housing is what you are looking for, then you will likely find it in Vernon
What about the demographics? Are you looking for more of a retirement area or a community that is younger with more families?
If we go back to the census data and have a look at the age demographics of between 25 and 49, Kelowna’s population comes in at 47,885 or about 33% of the total population.
Vernon on the other hand has 7,710 residents in the same age bracket of 25-49 which represents about 17% of the total population of the city. The over 65 crowd for Vernon represents about 32.9% of the population and 24.7% for Kelowna.
So when we are comparing age demographics, Kelowna wins this round hands down, the data suggests that Kelowna is overall a younger city compared to Vernon.
There are a ton of similarities between the two cities, especially when it comes to the natural beauty and the plentiful activities that you can do outdoor all year round.
If you are trying to decide which community is going to be the best fit for you, if it were me I would ask myself these questions:
1.Do I want to be in a larger centre with greater access to different amenities or does size really matter?
2. Is the cost of housing one of the driving factors in my decision making process?
3. If I am in that 25-49 age bracket or the over 60 age demographic, which community makes more sense for me slash us to be a part of?
To Skip Ahead to Different points in the video click below:
00:41 Census Data
1:15 Amenities in Kelowna
1:46 Cost of Living
2:06 Cost to Buy a House in Kelowna and Vernon
3:08 Demographics
3:57 Things to Do in Kelowna & Vernon
4:55 Questions to Ask Yourself Before Moving to Kelowna or Vernon
6:19 Contact Information
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🧐 Are you thinking about making a move to Kelowna, BC?
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Please watch: "Kelowna Versus Calgary: Which City is Better to Live in?"
• Kelowna Versus Calgary...
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