Report highlights short-term rental impacts

The Columbia Valley is facing a housing crisis exacerbated by a significant increase in short-term rentals (STRs). A report from McGill University highlights that Invermere has the highest impact from STRs in the Kootenay Rockies, with 180 active listings, representing 8.1% of its dwellings. This has led to a loss of 100 housing units to STRs, the highest in the region. The increase in STRs has also contributed to a $170 monthly rent hike for average renters in Invermere, totaling an additional $1.3 million in rent paid in 2022.