Castlegar

Castlegar sits where the Kootenay and Columbia rivers meet, a practical hub in the West Kootenays that has always served as a midpoint between Nelson and Trail. It’s a mill town at its core, and you can still see that in the economic data. Manufacturing is still a top-three employer, but healthcare and retail now lead the pack. That diversification is good, but we look at the $81,000 median household income and the 10.8% unemployment rate and see the full picture. That number tells us this isn’t a boomtown; it’s a steady community with its share of economic pressures.

The demographics tell an important story about who lives here. With a median age of 45.6 and nearly a quarter of the population over 65, the data confirms what we see on the ground: Castlegar is a magnet for retirees and people cashing out of bigger cities. It’s a lifestyle play. On the flip side, only 14.7% of the population is under 14. This isn’t a town attracting a flood of young families, which is something we factor into our long-term outlook. The buyer pool is stable, but it’s also very specific.

What supports property values here is a distinct identity. The Doukhobor heritage is deeply embedded in the community—this isn’t just a historical footnote. It shaped the area’s agricultural roots and a character of self-sufficiency. You see it in landmarks like the Brilliant Suspension Bridge. That cultural anchor, combined with the “Sculpture Capital of Canada” designation, gives Castlegar a kind of stability that isn’t just tied to the mill’s output. People choose to live here for a reason beyond a job.

The lifestyle appeal is clear, especially for its target demographic. You have river walkways, mountain trails, and a general small-town feel that appeals to those exiting the rat race. The housing stock lines up with that perfectly. It’s dominated by single-detached homes, making up nearly 68% of all dwellings, while apartments account for less than 9%. This is exactly the kind of straightforward, primary-residence market we’re comfortable with. There isn’t a significant, volatile vacation rental scene or the speculative pressure you see in other BC recreational hubs.

From a lending perspective, Castlegar is a solid, predictable market. The desirability is there, driven by culture and outdoor access, which protects against a complete collapse in demand. However, the economic vulnerabilities are real and require a conservative approach. A downturn in the resource sector would be felt here. That’s why we’re active in Castlegar, but we’re also disciplined. For a standard residential property, our maximum loan-to-value is 65.0%. It’s a number that respects the town’s appeal while acknowledging the economic reality.