Columbia Valley Pioneer staff
Affordability is one of the challenges that the Regional District of East Kootenay is aware of as it reviews the latest housing needs report.
Planner Rory Stever recently presented an interim update to the board outlining affordability, demographic shifts, and market trends. He noted that considerable households in the rural area face affordability challenges, with between seven and 14 per cent spending more than 30 per cent of their income on housing.
“This is often exacerbated by rising gaps between local incomes and housing prices, a trend that has worsened since the 2021 Census,” Stever said.
He pointed out that a notable percentage of households ranging from 18 to 21 per cent are classified as “very low” or “low” income, making them vulnerable to housing affordability issues. Hence, the need for affordable housing.
Stever noted the methodology for determining future housing demand suggests a substantial need for dwellings by 2041, with required units ranging from 291 to 889. He said a portion of this demand is expected to come from households needing below-market or significantly affordable units, with the number of necessary units varying from 62 to 170.
“In total, 2,755 units may be required by 2041 across the rural RDEK,” the planner outlined. But with a recent historical average permitting a volume of about 150 annually, the rural areas may already be on track to meet future targets. However, not all areas are building at the same rate, he said.
Stever noted that one of the most significant demographic trends in the region is the expected growth in senior-led households, with projected increases ranging from 11 to 59 per cent.
By 2041, senior-led households are anticipated to represent between 30 and 49 per cent of all households, depending on the community, he explained. This will likely increase the demand for senior-specific housing, particularly as the incidence of disabilities rises within this age group.
Stever said all areas in the region should see some form of increase in local families, driven by the growth of younger adults. This would generally translate to a need for larger units with more bedrooms.
The planner stated that secondary suites are increasing in popularity in rural areas, making up between 4.5 and 9 per cent of the total dwelling stock. He noted this trend points to a growing demand for more flexible and affordable living arrangements.
In contrast, Stever said short-term rentals (STRs) have a mixed impact, with some areas seeing negligible effects on housing availability. Others, experiencing a significant portion of their housing stock – up to 16 per cent – are allocated to STRs.
