Affordability
Housing prices1 (2021, inclusive of single and multi-family residences) in Canal Flats are 30% lower than the Columbia Valley average, 40% lower than the East Kootenay region average, 235% lower than the B.C. average, 330% lower than metro Vancouver average, 172% lower than the City of Kelowna, and 68% lower than City of Calgary average.
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 19% 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
(2021, includes single and multi-family residences unless otherwise noted)
Canal Flats – $277,000
East Kootenay Region – $417,000
Metro Vancouver – $1,200,000 (incl. multi-family)
Calgary – $600,000 (detached dwelling)
B.C. – $927,000
Canada – $713,000
1Src: Canal Flats – BC Government, Columbia Valley – Rockies West Realty, East Kootenay – Kootenay Real Estate Board, BC – BC Real Estate Association, Vancouver, Calgary Real Estate Board, Kelowna – Kelowna Now
Based on house resale prices in 2016, housing prices in Canal Flats are:
30% lower than the Columbia Valley average
330% lower than the metro Vancouver average
235% lower than the B.C. average
68% lower than the City of Calgary average
