Revelstoke

Lending in Revelstoke, BC

Let’s be clear: Revelstoke is a pure-play mountain resort town. The economy, the lifestyle, the real estate market—it all revolves around Revelstoke Mountain Resort and the deep-powder snow that defines its reputation. This isn’t a sleepy industrial town; it’s an adventure capital, and its population has jumped nearly 10% since 2016 as more people chase that lifestyle. While its history is rooted in the Canadian Pacific Railway, its future is undeniably tied to the ski lifts.

From a lending perspective, this heavy reliance on tourism creates a unique risk profile. The town’s economic health is directly tied to seasonal tourism and snowfall. The numbers tell the story: accommodation and food services employ over 18% of the workforce, and the 10.0% unemployment rate reflects the seasonal nature of the work. Other key sectors like retail, healthcare, and construction are present, but they largely exist to support the primary tourism driver. This creates the classic resort town squeeze: a median household income of $96,000 trying to compete in a property market fueled by external investment and second-home buyers. It’s a disconnect we watch closely when underwriting.

Geography is the dominant factor for real estate here. The town is physically constrained, squeezed between the Selkirk and Monashee mountains along the Columbia River. There are hard limits on development. This scarcity is a powerful market force, especially when combined with intense international demand for the “Revy” lifestyle. It creates a strong floor for property values. The housing stock itself is revealing: over 75% are single-detached homes, which is unusual for a resort town and puts further pressure on supply. This isn’t a market of endless condo towers; it’s a community of houses, and there isn’t enough land to build more.

The successful borrower here reflects the market’s dynamics. We’re not typically financing the seasonal lift operator. Instead, we see established small business owners who service the tourism industry, high-earning remote workers bringing in external salaries, and investors targeting the high-demand vacation rental market. With a median age of 37 and over 70% of the population in their prime working years, the demographic is right for this kind of borrower—people who are established enough to have capital but young enough to be drawn to the adventure lifestyle. These are the clients who can navigate the local economy’s volatility.

Because of the high desirability, strong demand, and physical land constraints, we view Revelstoke as one of our stronger markets. It requires careful underwriting that acknowledges the seasonal economy, but the fundamental value is undeniable. We’re comfortable lending in Revelstoke on deals that reflect this reality, with a maximum LTV of 70.0%.