Property values up across most of Southern Interior: BC Assessment

Homeowners are getting their 2026 home value assessments in the mail and while most of the Southern Interior saw increases in value, home values in the Central Okanagan dropped.

There were 13 communities that saw decreases in the value for a typical single family home, 11 communities that increased and six communities where values stayed flat, according to BC Assessment’s 2026 property assessments. 

“For 2026, most homeowners can expect generally modest property assessment value changes in the -5% to +5% range for many Thompson-Okanagan communities while homeowners in Kootenay-Columbia areas may see a slightly higher rate of change in the -5% to +10% range,” deputy assessor Boris Warkentin said in a press release issued Friday, Jan. 2.

Kelowna saw a 2% drop in value from $938,000 to $918,000 for the start of 2026. Kelowna’s home values are down from $952,000 in 2024. 

West Kelowna saw a decrease from $904,000 to $892,000 or a 1% drop. In 2024, the typical single family home in West Kelowna was assessed at $912,000. 

Penticton’s typical single family home went up a percentage point from $693,000 to $700,000, but it’s still lower than the $708,000 typical assessed value in 2024. 

Vernon’s typical family home stayed flat at $721,000, which is pretty close to the $724,000 value from 2024. 

Kamloops didn’t see any change either with the typical single-family home staying at a $693,000 valuation. 

Typical strata homes like condos and townhouses gained value in West Kelowna, up from $538,000 to $557,000, but they went down in Kelowna from $493,000 to $488,000. 

In Penticton, Vernon and Kamloops strata values stayed flat around $400,000.

“The Southern Interior’s total assessments increased from about $323 billion in 2025 to almost $330 billion this year. A total of over $5.29 billion of the region’s updated assessments is from new construction, subdivisions and the rezoning of properties,” BC Assessment said in the release.

The Village of Lytton was a statistical outlier this year with its typical family home’s value going up from $233,000 to $303,000, a whopping 30% increase. That’s up from the $204,000 assessed value in 2024. 

“Lytton remains an exception as that community continues to rapidly add value through its recovery and rebuilding efforts,” Warkentin said. 

Sun Peaks Mountain Resort has the highest value for a single family home at $1,463,000, down from the 2025 typical family home assessment of $1,486,000. 

Communities in the Kootenay-Columbia region saw consistent increases in home value with just the Village of Midway seeing a value decrease of 3%. The rest of the region had increases in the typical family home value around 2% to 9%.

“If a property owner is still concerned about their assessment after speaking to one of our appraisers, they may submit a Notice of Complaint (Appeal) by January 31, for an independent review by a Property Assessment Review Panel,” Warkentin said.

Click here to find out more information about assessments and appeals.