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U-Haul's Growth Index ranks Kelowna lower than previous year

Kelowna falls in ranking

If U-Haul's user statistics are any indication, Kelowna's not the hotspot it once was.

The rental truck company puts out an annual "Growth Index" ranking system, looking at data for one-way customer transactions in the year that past. The data is not meant to reflect population or economic growth though offers some anecdotal insights.

For 2024, their figures amounted to Kelowna being ranked as the No. 23 Canadian growth city for the year, with 51 per cent of U-Haul customers coming to Kelowna and 49 per cent leaving.

The company said that U-Haul arrivals into Kelowna rose nearly two per cent but, perhaps tellingly, departures rose five per cent.

Due to the greater rise in departures, Kelowna fell 19 spots from its 2023 ranking. There was no insight into where people were moving to, upon leaving Kelowna.

“The economy continues to grow in Kelowna, with the main industries creating jobs being technology, healthcare and tourism,” Mason Kolahdouzan, U-Haul Company of British Columbia president, said in a press release.

“There has been an increase in job postings throughout the year in these industries. The real estate here is also very affordable in comparison to the rest of B.C.”

In the Central Okanagan the benchmark price of a single-family home is $1.024 million, while townhouse are $746,400.

Alberta is the top U-Haul growth province for the second year in a row, and that province's two largest cities, Calgary and Edmonton, are also the top two growth cities in Canada. Calgary was the No. 1 U-Haul growth city for 2023 as well.

British Columbia ranks second among provinces for netting U-Haul customers, while Ontario is again last with the greatest loss of do-it-yourself movers.

“People are moving to Alberta because of the opportunities and investments being made in the province,” stated Naga Chennamsetty, U-Haul Area District Vice President.

U-Haul ranks growth cities by each city’s net gain or loss of one-way equipment from customer transactions in a calendar year. The U-Haul Growth Index is compiled from more than 2.5 million one-way U-Haul truck, trailer and U-Box portable moving container transactions that occur annually across Canada and the U.S.



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