Kamloops is known for its outdoor lifestyle, scenic views, and growing real estate market—but what’s it actually like to live here day-to-day? If you’re considering buying a home, it’s important to understand more than just the purchase price.

This guide breaks down the real cost of living in Kamloops so buyers can plan with confidence and avoid surprises.

Monthly Housing Costs in Kamloops

Mortgage, Taxes, and Utilities

Once you own a home, your monthly expenses will go beyond just the mortgage payment. Here’s a general breakdown of recurring costs:

• Mortgage Payment: Varies by loan size, interest rate, and amortization period.
  
  
• Property Taxes: On average, about $3,000–$4,000 annually depending on the neighbourhood and property type.
  
  
• Home Insurance: Typically $75–$150 per month depending on coverage and location.
  
  
• Utilities:
  
  
• Hydro: ~$100–$150/month
  
  
• Gas (FortisBC): ~$50–$100/month
  
  
• Water, sewer, garbage: ~$70–$100/month
  
  
• Internet/cable: ~$80–$150/month
  
  

If your home is part of a strata (like a townhouse or condo), add monthly fees that usually range from $200 to $500 depending on the building.

One-Time Costs to Consider

Budget for the Upfront Expenses

When buying a home in Kamloops, there are several one-time costs that can catch buyers off guard if they’re not prepared:

• Property Transfer Tax (PTT): This BC tax applies to most property purchases, though first-time buyers may qualify for exemptions.
  
  
• Legal Fees and Disbursements: Typically $1,000–$1,500 for a lawyer or notary.
  
  
• Home Inspection: Around $400–$600.
  
  
• Appraisal (if required by lender): $300–$500.
  
  
• Moving Costs: Varies depending on distance and services needed.
  
  
• Repairs or Renovations: Always wise to budget for immediate fixes or updates after move-in.
  
  

These one-time expenses can add up quickly, so it’s best to set aside 1.5%–4% of the purchase price for closing and setup costs.

Cost of Living in Kamloops vs. Other BC Cities

How Does Kamloops Compare?

Compared to places like Vancouver or Victoria, Kamloops offers a more affordable lifestyle:

• Housing: Significantly lower home prices per square foot.
  
  
• Commuting: Shorter drive times, less gas usage, and no tolls.
  
  
• Groceries and Goods: Relatively similar pricing, with slightly better deals at local markets and chains like Save-On-Foods or Superstore.
  
  
• Childcare: More availability and generally lower rates than larger urban centres.
  
  

Kamloops offers good value for professionals, young families, and retirees looking to stretch their dollar.

Lifestyle and Transportation Costs

Daily Life Expenses

Everyday costs will vary based on your habits and lifestyle, but here are some averages:

• Gasoline: ~$1.70–$2.00/litre (as of 2025)
  
  
• Public Transit (BC Transit): $2.25 per ride or $60 for a monthly adult pass
  
  
• Gym Membership: ~$40–$80/month
  
  
• Dining Out: Casual meals ~$15–$25/person, mid-range dinners ~$60–$100 for two
  
  

Kamloops residents love outdoor activities—hiking, biking, skiing, and lake days often cost little to nothing, which helps offset other expenses.

Other Budget Factors for Buyers

Plan for the Unexpected

Owning a home means being ready for repairs, emergencies, and annual maintenance. Consider:

• Saving 1% of your home’s value annually for maintenance
  
  
• Building a contingency fund for roof or furnace repairs
  
  
• Reviewing insurance coverage for events like wildfire or flooding
  
  

These factors are often overlooked, but they make a big difference in your long-term financial comfort.

Final Thoughts: Know What You’re Getting Into

Buying a home in Kamloops means more than just qualifying for a mortgage—it’s about understanding the full picture of what it costs to live here. With proper planning and awareness of both recurring and one-time expenses, you’ll be better prepared to enjoy everything this city has to offer.

Kamloops is one of BC’s most liveable and affordable cities—but the more you know, the better your experience will be as a homeowner.