Osoyoos housing will need to grow 30 per cent in 20 years, according to housing needs report

More housing a big need

Photo: Town of Osoyoos

The Town of Osoyoos is projected to require a 31 per cent increase in housing over the next 20 years, according to the latest housing needs report.

The Regional District of Okanagan-Similkameen Housing Needs Assessment was prepared by Urbanics Consultants Ltd. in February, using data from the Town of Osoyoos.

Within Osoyoos, the increase would amount to 1,018 more homes. For rural Osoyoos, that increase amounts to 323 homes.The 20-year time period included in the report is from 2021 to 2041.

In five years, an additional 303 units in town and 99 units in rural Osoyoos would be needed to accommodate its anticipated population.

"This housing need is primarily driven by population growth projections, based on the province’s projections on fertility, mortality, in-migration, out-migration and household formation over the coming decades," reads the report.

Similar percentages are projected throughout the regional district, with Cawston peaking in a housing need of 63 per cent.

Each month, the average household in Osoyoos pays $944 per month, translating to $960 for homeowners and $1,136 for renters.

"These shelter costs are lower than seen in the RDOS overall ($1,166) or British Columbia ($1,596)," reads the report. "However, these rates reflect existing mortgages and tenancies, and do not necessarily represent costs that could be achieved on the open market today."

According to the report, housing affordability such as rent or mortgage, taxes, and utilities is affecting 16 per cent of Osoyoos households.

Many tenants, 35 per cent, are living in unaffordable housing, which is five per cent higher than the provincial average.

With Osoyoos summer tourism trends, about 19 per cent of the town's housing supply includes temporary residents using vacation rentals.

"Homelessness is an escalating issue in Osoyoos, with residents expressing significant concern over the rising number of individuals experiencing homelessness in the community," adds the report.

"Many local residents have voiced that the 'cost of living is out of control' and is putting them at risk, with some stating they are 'one [paycheque] away from homelessness.'”

However, according to BC Housing, Osoyoos lacks accommodations for those experiencing homelessness.

According to a survey, most residents agree homes were too expensive and options were too limited.

Additionally, the report suggests Osoyoos could benefit from considering a growing seniors population, as well as housing near transportation and employment.

Photo: Urbanics Consultants Ltd.