Affordability
House resale prices1 (2017, inclusive of single and multi-family residences) 49% lower than the Columbia Valley average, 77% lower than the B.C. average, 85% lower than metro Vancouver average, and 66% lower than metro Calgary average. 8th lowest annual residential property taxes and charges2 ($1914) on a representative house, and 2nd lowest tax burden ($515 municipal taxes per capita on residential property) of 162 B.C. municipalities in 2017.
Housing Prices: Buy A Home in Canal Flats… Put $320,000 (Calgary) To $900,000 (Vancouver) In Your Pocket
Imagine you can sell high-priced real estate and retire 5-10 years earlier than you might have otherwise with your nest egg. Enter an opportunity in Canal Flats – southern gateway to a Columbia Valley that is in touch with nature, and a sense of community.
We have the most affordable housing in the Columbia Valley. Housing affordability is a key feature of being able to attract and retain labour force supply, independent entrepreneurs, retirees, young people, and recreational property owners. House prices are a fraction of average B.C. and Calgary housing prices while median household income in Canal Flats is only 5% lower than the B.C. average, and Calgary after tax family income (a source of roughly 50% of recreational property purchases in Canal Flats) is 40% higher than the B.C. average.
Average Residential home Resale Price
(As at year end 2017, includes single and multi-family residences)
Canal Flats – $164,600
Kootenay Region – $307,000
Metro Vancouver – $1,080,000
Columbia Valley – $321,000
B.C. – $725,000
Calgary metro – $484,000
Based on house resale prices in 2016, housing prices in Canal Flats are:
49% lower than the Columbia Valley average
85% lower than the metro Vancouver average
77% lower than the B.C. average
66% lower than the metro Calgary average
The Columbia Valley’s average house sale price is down 14% from a peak in 2011, generating significant investment opportunity.
