Kamloops Population Growth
Justifies Housing Demand!
Expected Population
Growth Rate
Over the Next 10 years
New Units
Per Year
Over the Next Decade
Supply Increase Needed
Over Historical Averages
To Meet Expected Demand
Over the decade a growing and changing population would see the housing stock in the City of Kamloops need to grow from 41,000 occupied units today to almost 47,000 by 2029, and further to 50,400 by 2039. Put another way, in order to accommodate the nine percent projected growth in the city’s population projected between 2019 - 2029, the city’s housing stock would have to grow by almost 5,500 homes; an additional 3,700 homes would be required between 2029 - 2039.
The data provided in the full report is a high-level overview of the demographic, economic and real estate market data for the City of Kamloops and the neighbourhoods of interest. The full report used various data sources to give a synopsis of the current environment and historical changes within the City of Kamloops, as well as providing a forward-looking outlook.
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Supply and Demand
for Housing in Kamloops
| Kamloops Area |
Average Completed Units Per Year (2016-2019) |
2019 Total Completions |
Estimated Completions 2020 |
|---|---|---|---|
| North Shore | 22 | - | - |
| Downtown | 48 | - | - |
| TRU Southgate and Dufferin | 68 | - | - |
| Sahali West End | 48 | - | - |
| Total Average in Areas of Interest | 186 | - | - |
| Total Average New Units in the Rest of Kamloops | 254 | - | - |
| Total Average New Units Per year in Kamloops Overall | 440 | 1074 | 786 |
Proforma Info
A pro-Forma and residual land analysis of three different development scenarios including multi-family sites in North Kamloops and Downtown. The site sizes, FSRs and unit counts are all derived from recent development applications in the area, while sale and lease prices (per square foot) have been drawn from current market buildings.
The first two columns from the left represent developments which are lower and medium densities and are based on different site sizes. The right-hand column represents a higher density project and is reflective of a smaller site size. Each of the scenarios presented on the pro-forma show positive land values, ranging City of Kamloops BC Step Code Incentive Programbetween $39 and $44 per buildable square foot. These include all of the aforementioned hard and soft costs already factored in, as well as a 12% profit margin for the developer.
These calculations are meant to provide an illustrative framework to analyze potential development sites in the City of Kamloops. Further research would be required on site specifics when evaluating investment opportunities, such as allowable zoning uses or any site remediation required.
View Proforma Data
