Kootenay housing prices rise amid growth

The Kootenay region grew by 2,542 people in 2024, reaching a total population of 176,617, according to the BC Check-Up: Live report from Chartered Professional Accountants of British Columbia (CPABC).

Growth was spread across the region, not just in larger municipalities like Cranbrook, Nelson, and Trail, which made up about 26% of the increase.

Most new residents came from other countries (1,792), down slightly from 2023 but still above average.

Another 1,276 moved from other parts of B.C., while 222 came from other provinces, the lowest in 11 years.

Mike Calder, CPA partner at MNP Canada, said the rise in migration from within B.C. may be due to more affordable housing, though that advantage might be shrinking.

Home prices in the Kootenays averaged $617,229 in June 2025, up 13% from last year and 65% since 2020.

Rent also reportedly increased, with two-bedroom apartments averaging $1,336 in Cranbrook and $1,278 in Nelson.

Calder said lower borrowing costs are helping the housing market bounce back, but warned that changes in international trade pose risks.

He called for cooperation between government and industry to support workers and businesses.

For more information check, www.bccheckup.com.