Cranbrook

Let’s get one thing straight about Cranbrook: it’s not trying to be a resort town. This is the functional, pragmatic hub of the East Kootenays. Its roots as a railway and mill town are still visible, giving it a workhorse character that you don’t find in places built purely on tourism. It feels more like a small prairie city than a mountain getaway, and for us as a lender, that’s a good thing. It implies a stability that seasonal economies often lack.

As the regional centre for commerce and healthcare for a population just over 20,000, Cranbrook’s economy is grounded in essentials. You won’t find a booming tech sector here. The top industries are exactly what you’d expect: retail, healthcare, and construction. The numbers tell a story of stability, not speculation—a median household income of $80,000 and a 7.4% unemployment rate. From our perspective, the high rate of government transfers, around 20%, signals some economic softness and reliance on sectors outside the core job market. However, this is balanced by the city’s role as an essential service provider for the entire region, which creates a floor for the local economy.

That said, you can’t ignore the lifestyle appeal that drives consistent demand. Cranbrook is the functional gateway to the Powder Highway and the Kootenay wilderness. This recreational access creates a reliable undercurrent for real estate from retirees and families looking for the space and balance bigger cities can’t offer. With a population density of just 641 people per square kilometre, that sense of space is real. The demographics back this up: the median age is 45.2, and nearly a quarter of the population is over 65. This is a mature, stable demographic that isn’t chasing fleeting job trends; they’re investing in a lifestyle, which supports property values over the long term.

The housing stock reflects this stability. At over 65%, single-detached houses are the dominant property type—the bedrock of a stable residential market. Apartments make up less than 15% of the housing, so there isn’t a glut of new condo towers that could create supply shocks. This isn’t a market driven by speculative, high-density development or a volatile vacation rental scene. It’s a community of primary residences, which simplifies our risk assessment and gives us a clear view of market fundamentals.

For brokers sending us deals, this context is everything. We see Cranbrook as a strong, second-tier BC market. The service-based economy provides a solid foundation, while the lifestyle and recreational draw ensures consistent buyer demand. That combination gives us confidence in our exit strategy. We know there will always be a market for well-maintained, single-family homes in a place like this. It has liquidity without the volatility of a pure resort town. For qualified borrowers with strong properties, we’re prepared to fund up to 70.0% LTV. It’s a bread-and-butter market for a lender like us, and we’re always looking at solid deals in the area.