Enderby

Lending in Enderby

Let’s be clear about Enderby: it’s not a suburb of Vernon or a smaller Salmon Arm. It’s a classic North Okanagan agricultural town, built on the Shuswap River, with a distinct character. For brokers sending us deals here, it’s critical to understand the local realities. This isn’t a high-growth market driven by tourism or tech. It’s a stable, slow-moving community with a specific lifestyle appeal that underpins its value.

Enderby’s identity as “Shuswap’s River City” is well-earned. Its economy was built on agriculture, and that remains its foundation today. We’re talking dairy farms, orchards, and grain production, not software companies. The top industries are manufacturing, retail, and healthcare, but these don’t translate into high wages. The median household income is just $59,600. The bigger picture shows some weakness: the employment rate is a low 44.3%, unemployment sits at 7.1%, and a significant portion of local income comes from government transfers. This points to a lack of local opportunity and an economy vulnerable to downturns in its core agricultural and forestry sectors.

The demographics tell the same story. With a median age of 54.4 and nearly a third of residents (32.9%) over 65, Enderby is primarily a retirement destination. In contrast, youth under 14 make up only 13.9% of the population. This isn’t a place attracting young families or career-builders in large numbers. The housing stock is a direct reflection of this. It’s dominated by single-detached homes (about 60%), many of which are older builds. There’s very little new multi-family development, which means the market has limited capacity to absorb sudden growth. The appeal is the quiet, small-town living, floating the river in the summer, and the iconic Star Light Drive-In. This is a desirable lifestyle for a specific buyer, creating a reliable, if not explosive, resale market.

From our lending perspective, this picture has two clear sides. On one hand, the lifestyle draw is real. It provides a solid floor for property values because people actively choose to move here for that specific quality of life. That supports resale potential. On the other hand, the economic fundamentals are concerning. A low employment rate, an aging population, and a non-diversified economic base create long-term risks that we can’t ignore. This is the calculus behind our risk assessment. We see the value in Enderby’s community and its setting, which creates consistent demand. But we have to balance that against the lack of a strong, local job market. For a property in Enderby, our maximum loan-to-value is 65.0%. We’re active in the community, but we need to see more equity in a deal to offset the economic realities of a small, agriculture-based town.