Lillooet sits at the confluence of the Fraser and Bridge Rivers, earning its nickname as “Mile 0 of the original Cariboo Gold Rush Trail.” This historic town of 2,300 residents has witnessed more boom-and-bust cycles than most communities twice its size, yet it persists with the stubborn resilience that defines Interior BC.
The numbers tell a story that mortgage professionals need to understand. With unemployment at 8.4% and a median household income of $66,000, Lillooet faces economic headwinds that make lending decisions particularly nuanced. Nearly a third of residents are over 65, reflecting both the community’s appeal to those seeking affordable retirement options and the challenge of a shrinking workforce.
What makes Lillooet fascinating is its dual identity. The town serves as a gateway to some of BC’s most spectacular wilderness—the Bridge River Valley, Marble Canyon, and countless fishing spots that draw visitors from across the province. Yet it’s also a working community where healthcare, retail, and construction provide the economic backbone. The climate has actually improved over recent decades, now sitting in plant hardiness zone 7a, making it increasingly attractive for those wanting to grow their own food year-round.
Housing reflects the community’s practical nature: 69% single-family homes with a surprising 11% in movable dwellings, suggesting flexibility and affordability remain priorities for residents.
Tekamar currently maintains a maximum LTV of 0% in Lillooet. While the community offers undeniable charm and recreational appeal, the combination of economic volatility, limited employment diversity, and remote location creates challenges for mortgage recovery scenarios that don’t align with our investors’ risk parameters. For brokers working with clients in this area, we recommend exploring alternative lending solutions better suited to Lillooet’s unique market dynamics.
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