Thompson-Nicola Rental Housing Situation Poor, But Better Than Most

Kamloops and the Thompson-Nicola region is facing a rental housing shortage, but compared to the rest of the country the area is not fairing too poorly.

According to the Canadian Rental Housing Index, in the region there are 53,375 renter households and of those 10,995 people are renting accommodations. That represents 21 per cent of the population as renters, with a median household income of $37,384. The average rent in the area is $835 including utilities. Of those renting, more than 48 per cent of people spend 30 per cent or more of their income for housing. Another 2,425 people spend more than 50 per cent of their income on housing needs, representing 22 per cent of all renters.

The number of renters living in overcrowded conditions represents eight per cent of the rental market, or 885 people. By 2021 the demand for rental units is expected to rise to 1,002 units and by 2036 that number will be 2,649 units. Core housing needs are also expected to rise over the next decade with 527 new subsidized units required by 2026.

The majority of renters in the region work in the restaurant and hospitality sector and earn an average income of $20,522. Healthcare and social services makes up the second largest workforce renting in the region, these workers earn an average of $39,688. Retail, construction, and transportation workers make up the rest of the rental population.

Compared to the rest of the country, the Thompson-Nicola region ranks 215 out of 284 and has an overall index shore that is considered “poor.” While the rental situation is not ideal in the region, the Thompson-Nicola region is much better off than nearby communities such as the Central Okanagan, Kootenays and South Okanagan.

© http://www.rentalhousingindex.ca/#

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