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BC Had 4 of The Nation’s Top 5 Fastest Growing CMAs (Census Metropolitan Area)


Under Market Updates

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February 22nd, 2022

Benefiting from a mix of immigration and interprovincial migration, Kelowna is Canada’s fastest growing Census Metropolitan Area (CMA), with Chilliwack ranking second.

According to the latest census data from Statistics Canada, the Kelowna CMA — ranging from Lake Country in the north to Peachland in the south — saw its population grow to 222,162 in 2021, an increase of 14% from 194,892 in 2016.

Located in the Fraser Valley, Chilliwack’s population grew 12.1% during the five-year period, increasing from 101,512 to 113,767. That spike in population was second fastest among Canada’s 41 CMAs.

Overall, Canadian CMAs — urban centres with a population of at least 100,000 — had an average population growth rate of 6.1% during the five years leading up to the 2021 census.

British Columbia had four of the nation’s top five fastest growing CMAs. Kamloops placed third with approximately 10% population growth, while Nanaimo finished behind London, Ont. for fifth.

Looking at wider population trends across the country, StatsCan found downtown cores becoming increasingly densified in larger urban centres, while significant growth occurred in the suburbs around smaller CMAs, due in part to rising home prices.

“Higher housing prices may be a factor, with new home prices up 11.3% year over year nationally in May 2021, the largest increase since November 2006,” StatsCan noted in a report detailing the numbers. “Higher housing prices may have tempted Canadians to move to more distant suburbs, where larger houses could be available at a lower cost than closer to downtown.”

In addition to leading the nation in population growth, Kelowna also had the third fastest growing downtown core among CMAs, with a growth rate of 23.8%, ranking behind Halifax (26.1%) and Montreal (24.2%).

Downtown populations have accelerated as a result of government initiatives aimed at increasing housing supply, while the desire to live close to amenities remains high. However, the pandemic’s full impact on population trends won’t be reflected until the next census cycle.

“Downtowns are growing fast, and more rapidly than before,” said StatsCan. “From 2016 to 2021, the downtown populations of the large urban centres grew faster (10.9%) than the urban centres as a whole (6.1%). The populations of downtowns also grew at over twice the pace compared with the previous census cycle (4.6%).”

BC Bound : Kelowna, Chilliwack Fastest Growing Metropolitan Areas in Canada by Ryan Garner | Livabl

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