In 2024, the Village completed an Interim Housing Needs Report as required by the Province of British Columbia. This report helps us understand current and future housing needs in our community and helps guide municipal planning decisions, including redevelopment of the Village’s Official Community Plan.
Key findings from the study:
Between 2016 and 2021 Radium Hot Springs experienced significant population growth, with the permanent population growing from 776 to 1,339 residents (a 73% increase). This growth was accompanied by important demographic shifts, with equal growth in both people aged 65+ and 25-44 (170 people in each category). This growth means a greater need for diversity in housing types to accommodate not only more people, but a range of housing needs.
• Housing affordability has declined over this period: most household types cannot afford to purchase housing in Radium, with single-person and lone-parent households facing the greatest challenges
• Availability challenge: over half of Radium’s housing stock is not occupied by permanent residents (vacation/second homes), resulting in a lack of available housing
• Number of households in “core housing need” has increased:15% of owners and 16% of renters now spend more than 30% of income on living expenses
• Median household income has fallen: at $81,000, Radium’s median household income is slightly below regional and provincial averages
The report projects Radium needs 405 new housing units by 2044, primarily to accommodate population growth. Several priority housing types were identified to accommodate a growing population and demographic shift:
• Affordable seniors housing (ownership and rental)
• Affordable homeownership options for permanent residents
• Family-friendly housing for the growing 25-44 age group
• Purpose-built rental housing
• Mix of 1, 2, and 3+ bedroom units for homeownership and rental options
• Non-market (subsidized) rental housing
Read the Full Report: Download the 2024 Radium Hot Springs Interim Housing Needs Report (PDF)
The findings from this report have been incorporated into the Village’s Official Community Plan and help guide future housing programs and initiatives.
