Hello,
We wanted to share a few insights about our great city that we found interesting.
Did you know?
The Okanagan Valley, including Kelowna, is Canada’s fastest-growing region? In 2023, Kelowna’s Census Metropolitan Area (CMA) saw a remarkable population growth of 2.9%, with the city itself growing by 3.2%. This surge is fueled by an influx of new residents, robust job opportunities, and increasing business activity. Interesting to note our average age is now 44, we are no longer just a retirement community. Our population for the valley is projected to be at 290,635 by 2030.
The Central Okanagan now boasts over 34,000 businesses, with the real estate and rental sector leading with 7,565 establishments. We saw the number of businesses grow 5.4% from 2022 to 2023 . As well, 28.7% of businesses in the area have 1 or more employee.
One of the most telling signs of Kelowna’s growing appeal is the surge in airport activity. Kelowna International Airport (YLW) saw passenger numbers increase by 3.2% in the first half of 2024 compared to the same period in 2023, and an impressive 33.8% rise compared to 2022. With direct daily flights to major hubs like Vancouver, Calgary, and even Toronto, Kelowna is more connected than ever.
You may be surprised to know we saw a 53% surge in housing starts the first half of 2024 compared to 2023. This expansion is predominantly in multi-family housing, reflecting the demand for diverse living options and those looking for high walkability areas. We can certainly see the difference in our skyline with the number of multi family units being built.
Why Kelowna?
Beyond the numbers, Kelowna offers unmatched quality of life:
Whether you're considering your next property, thinking of investing, or simply soaking up local insights, Kelowna’s growth, connectivity, and lifestyle perks make it an unparalleled place to be. If you have any questions we are always happy to help so please reach out anytime.
Thank you,
Shannon & Tamara