New Westminster

New Westminster sits at the heart of Metro Vancouver’s real estate puzzle, where history meets high-rises in ways that would make most MICs drool. The Royal City — yes, that’s actually its official nickname — packs nearly 79,000 people into just 15.6 square kilometers, creating the kind of population density that real estate investors dream about.

Here’s what catches your eye: only 13.8% of housing consists of single-detached homes, while apartments under five storeys dominate at 34.8%. This isn’t your typical suburban sprawl. It’s urban living with a twist, where Victorian architecture shares blocks with modern condos, and the Fraser River provides a backdrop that never gets old.

The numbers tell an interesting story. With a median household income of $82,000 and 71.9% of residents holding post-secondary education, you’re looking at an educated, stable population. The 8.3% unemployment rate might raise an eyebrow, but the diverse employment base across healthcare, professional services, and retail creates resilience that single-industry towns can’t match.

Climate Zone 8b means gardening enthusiasts can grow heat-loving plants year-round — a detail that matters more to property values than most people realize. When retirees and families can maintain beautiful outdoor spaces without battling harsh winters, they tend to stick around.

The commute factor seals the deal for many residents. While the average 32.2-minute commute might seem long, you’re connected to Vancouver’s entire job market while living somewhere with actual character. That’s the kind of lifestyle arbitrage that keeps demand steady.

Unfortunately, Tekamar doesn’t currently lend in New Westminster (maximum LTV: 0.0%). The Greater Vancouver area falls outside our lending territory, where we focus on communities that other MICs typically overlook.