Kamloops needs over 23K new housing units over the next 20 years, says report

The City of Kamloops’ 2024 Housing Needs Report (HNR) says the city needs over 23,000 new units over the next two decades to meet the demand of the growing population.

Earlier this week, city councillors were presented the report, which is meant to highlight the city’s housing needs and help inform plans, policies and development decisions.

The report identifies existing and project gaps in housing while identifying housing needs by analyzing things like population growth, demographics, economy, and housing development in Kamloops.

According to the report, Kamloops needs 7,856 total new units over five years (between 2021 and 2026) and 23,228 new units are required over 20 years (by 2041).

The report says Kamloops’ population is expected to reach 140,281 residents by 2041.

The report not only addresses population growth but also includes the number of units it will take to reach a healthy vacancy rate and address suppressed household formation (essentially households that can’t form due to affordability reasons).

“Over the next 20 years, approximately 18%–21% (1,808–2,962) of new homes would need to be non-market housing units to meet the needs of households in very low- and low-income categories,” said a staff report presented to council earlier this week.

“Over the next 20 years, it is anticipated that approximately 30%–33% of new homes constructed (2,896–4,648 additional dwelling units) will be needed for renter households.”

The report also addresses how many units will be needed for people experiencing homelessness.

Over the next five years, the need is 391 units and the 20-year need is 782 units.

Changes to the Local Government Act, requiring municipalities and regional districts to complete a HNR by Jan. 1.

Additionally, municipalities will need to update their official community plans by the end of December 2025 to accommodate the new units.

The next update for the housing needs report is expected to happen in 2028 and every five years after, as required by the province, the staff report said.