Housing Action

The Town of Banff is in a housing crisis. The town has not grown in area since incorporation. In fact, the town shrunk in the late 1990s to prevent growth into a wildlife corridor. The town is less than 4 square kilometers in area and almost all land designated for residential development already has housing.

The community saw an increase in population in the 1990s and 2000s when some commercial properties transitioned from retail to restaurant operations, which require more employees who need more housing. Banff has been operating at a housing deficit for decades.

Even with a commercial cap set for the town, the current housing shortage persists. The greatest impact is on about 40% of the population, who are short-term workers who provide much-needed services in the tourist community for periods from three months to three years. Growing families who established roots in Banff a few years ago and young adults of long-time residents are also significantly affected.

Currently, there is less than 1% vacancy in rental dwellings in Banff.
Banff has a shortage of 700-1,000 homes.

All land that can be developed has development or is earmarked for development. All future housing will require redevelopment and increased density.

Housing Action to address the crisis

The Town of Banff is working on six main ways to stimulate more housing in Banff. The goal is to address the housing shortage by building Town-financed housing, changing regulations that will accelerate private development, adding incentives for new homes, and addressing the demand for new housing and commercial expansion.

To learn more on the details on the Town of Banff housing action points, please click the below link.

Housing Action | Banff Viewpoints