Wells

Wells sits at 4,000 feet elevation in the Cariboo Mountains, where winter temperatures regularly hit -30°C and the growing season barely stretches three months. This isn’t your typical retirement community—it’s a place for people who choose adventure over amenities.

The town emerged from the 1930s Cariboo Gold Rush as a planned community, complete with curved streets that still stand out against the typical grid patterns of other mining towns. Today, those 218 residents live in what’s essentially the gateway to Bowron Lake Provincial Park, home to the famous 116-kilometer canoe circuit that draws paddlers from around the world.

Here’s what makes Wells unusual: nearly 17% of the workforce is in arts and recreation, which is astronomical for a town this size. The annual ArtsWells Festival transforms the population for one weekend each summer, but the real economic driver is the outdoor recreation industry that operates year-round. Snowmobiling, cross-country skiing, and backcountry access keep businesses alive through the harsh winters.

The housing market tells an interesting story. With 70% single-detached homes and a median age of 43, this isn’t a transient mining camp anymore. People are choosing to stay, despite—or perhaps because of—the isolation. The 18% senior population suggests some folks are aging in place, though the brutal winters eventually push most toward lower elevations.

Our maximum loan-to-value ratio of 50% reflects the reality of Wells’ niche market appeal. Properties here sell to specific buyers: outdoor enthusiasts, artists seeking inspiration, and remote workers who prioritize lifestyle over convenience. The 37% unemployment rate looks scary on paper, but it doesn’t account for seasonal work patterns or the cash economy that thrives around tourism and recreation services.

Wells isn’t growing fast, but it’s not dying either. It’s found its niche as a basecamp for serious outdoor recreation, and that stability makes it workable for the right mortgage scenarios.