Housing is a community issue. Without appropriate housing for the entire community, our economic prosperity and our community’s wellbeing suffers. Our own quality of life suffers.
One of the critical needs is affordable rental housing. Banff’s vacancy rate –the percentage of units available for rent – is 0%, and has been that way for five years. A healthy rate is between 3 and 5%.
In part due to the lack of available affordable rental housing, current residents are sharing rented bedrooms, living in crowded situations, or are spending more than half their paycheque on housing. In some cases, residents are living in places that aren’t safe.
Creating new rental housing and charging affordable rents is so that all Banffites have a comfortable, appropriate place to call home.
Banff Community Housing Strategy:
In 2014, a community task force, with significant input from Banff residents, developed a strategy to address the critical need for safe, comfortable, affordable housing in Banff. The goals:
- By 2025, we have a robust range of housing options so that each Banffite can find a place to call home;
- Our neighbourhoods are socially, economically and demographically diverse
- Banffites understand that having appropriate housing benefits our entire community
- We take a shared approach to housing solutions. When new solutions are needed, we have the courage to change.
What we know
- We are proud residents of a national park. Our boundaries are fixed, we have a commercial development cap. Parks Canada eligibility residency regulations apply.
- Available land is scarce.
- Only 1 in 4 Banff households can afford a median-priced apartment, 1 in 10 a median-priced townhouse, duplex or single family home.
- 170 to 190 homes are in need of major repair.
- The vacancy rate has remained at 0% for the past five years. A healthy rate is 3-5%.
- Demographics and housing needs are dynamic – today’s resident needs different housing styles than in the past, and we can expect more change in the future