Logan Lake

Lending in Logan Lake

Logan Lake is, first and foremost, a mining town. You can’t understand the real estate market here without understanding its fundamental link to the Teck Highland Valley Copper mine. It’s the economic engine, the primary employer, and the reason the community exists in its current form. Located about a 45-minute drive from Kamloops, it offers affordability that’s become scarce elsewhere in the Thompson-Nicola region, but this comes with the inherent risk of a resource-based economy.

This isn’t a diversified market. Over 21% of the workforce is in mining and extraction. This concentration creates a stable, blue-collar employment base when commodity prices are strong, but it also means the town is vulnerable to sector downturns. The 9.2% unemployment rate and a median household income of $66,500 point to a community that’s practical and hardworking, not one in an economic boom. We see it as a market with a predictable rhythm, driven by industrial employment rather than tourism, tech, or a wave of retirees.

This economic reality is clear in the housing stock. You see a lot of single-detached homes (over 63%) and a significant number of movable dwellings (nearly 14%), which speaks to the town’s practical, working-class roots. There is a housing deficit, but it’s driven by local workers, not outside investors or second-home buyers. The demographics tell a similar story. With a median age of 54.4 and a third of the population over 65, this is a community where people tend to stay. While its outdoor amenities do attract some retirees, Logan Lake is not primarily a retirement destination; it’s a stable town of locals who have built their careers in the region.

From a lender’s perspective, the most compelling local feature isn’t the economy—it’s the wildfire risk. The dry interior landscape makes this an obvious concern. However, Logan Lake is one of the most proactive communities in the province on this front. Its formal FireSmart Canada recognition shows a real, long-term commitment to mitigation that we factor positively into our risk assessment. This foresight and community-wide understanding of the local environment provides a degree of stability in an otherwise volatile region.

Our position on Logan Lake is straightforward. We recognize the strong community and its affordable entry point for borrowers, but the single-industry dependency requires a conservative approach. We need to see significant equity in any deal to protect our investors. For that reason, our maximum loan-to-value in Logan Lake is 55.0%. We’re comfortable financing properties here, but only for well-qualified borrowers where the loan is well-secured by the asset and there’s a clear path to repayment.