Photo: Kenny Louie from Vancouver, Canada · CC BY 2.0Owners in Lake City value their homes at 2.5 times the median of British Columbia’s towns
That is a median of $1,800,000 at the 2021 census, set beside $720,000 for British Columbia’s towns. The median sale in 2023 was $761,000, across 7,270 buyers. Lake City doesn’t get its own sale prices, assessed values, values by property type and building permits figures; the ones here come from the city of Burnaby.
Three ways to price a home in Lake City
Each source sits beside its own median for British Columbia’s towns; none compares across provinces, which value homes in their own ways. The values date from May 2021 and are what owners thought their homes were worth, not sale prices.
median, owners’ estimate
- Average
- $2.01M
- Owners
- 865
- British Columbia’s towns
- $720K
- The typical Canadian town
- $406K
median sale, wider area
- Average sale
- $950K
- ÷ buyers’ income
- 6.2×
- Buyers
- 7,270
- British Columbia’s towns
- $682K
all residential
- British Columbia’s towns
- $671K
Census 2021 (Statistics Canada); Canadian Housing Statistics Program, tables 46-10-0099 and 46-10-0093; Québec rôle d’évaluation foncière 2026 (MAMH).
Houses in Burnaby carry 2.6 times the assessment of the median for British Columbia’s towns
Assessors listed 87,280 residential properties in Burnaby for 2024, 51% of them condos.
Median assessment by type, 2024 the tick is the median of British Columbia’s towns
Canadian Housing Statistics Program, table 46-10-0093 (2024): residential properties on the assessment roll, vacant land left out. The ticks are the median of British Columbia’s towns with their own figure; assessments compare within a province only.
How Lake City’s homes break down, by age and kind
The 2021 census counted 1,030 occupied homes in Lake City; 77% of them are single-detached houses. At least half predate 1981. Summed from small census areas, a neighbourhood’s parts may add up to a little less than its total.
Homes by period of construction the tick is the median of British Columbia’s towns
Homes by kind
| Lake City | British Columbia | Canada | |
|---|---|---|---|
| Condominiums | under 1% | 10% | 8% |
| Needing major repairs | 4% | 6% | 6% |
| Too small for the household | 1% | 4% | 3% |
| Households in core housing need | under 1% | 10% | 7% |
Census 2021 (Statistics Canada): occupied private dwellings; core housing need as Statistics Canada defines it. Ticks and columns are medians of the towns and neighbourhoods of 2,500 or more.
38.9 new homes a year per 1,000 in Burnaby: more than British Columbia’s towns (18.1)
Building permits added 26,151 homes in Burnaby between 2018 and 2023: some 4,359 a year. Only under 1% went into single-unit buildings, beside 27% for British Columbia’s towns.
Most in 2022: 6,578 new homes
New homes a year per 1,000 homes
Down 11%: 26,358 new homes in the year to August 2026
Shared with the rest of the Vancouver metro area: monthly permits
Statistics Canada, tables 46-10-0087 (building permits by census subdivision, 2018–2023: dwelling units created, new construction and conversions) and 34-10-0292 (monthly, metro areas). Per 1,000: units a year over 2019–2023 against occupied homes in 2021.
Lake City is dearer than most of British Columbia’s towns: 150% above their $720,000 median
The census values of British Columbia’s towns, 254 of them with 2,500+ people, from dearest to cheapest.
Census 2021, owners’ estimates; towns and neighbourhoods of 2,500 or more, no city as a whole, no reserve.
Cheaper next to Lake City: Montecito, Lougheed and East Burnaby
The places around Lake City at the 2021 census: median and average value, and how many own.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Lake City | $1.8M | $2.01M | 85% | |
| Bainbridge | $1.8M | $1.7M | 72% | 1.2 |
| Montecito | $1.7M | $1.53M | 62% | 2.2 |
| Lougheed | $500K | $655K | 57% | 2.8 |
| East Burnaby | $1.5M | $1.46M | 65% | 2.9 |
| Buckingham Heights | $1.6M | $1.86M | 78% | 3 |
| Lochdale | $1.5M | $1.54M | 59% | 3.3 |
Census 2021 values; km.
Questions about property prices in Lake City
Is Lake City expensive for British Columbia?
Yes: Lake City’s census median is above the $720,000 of British Columbia’s towns.
How many households in Lake City are in core housing need?
Fewer than most: under 1% of households in Lake City, where British Columbia’s towns sit at 10%.
Can I see individual sales or prices by street?
Not here: individual sales sit with provincial registries and aren’t open, so the published figures are town medians and averages.
Sources: Statistics Canada, Census of Population 2021 · Statistics Canada, Canadian Housing Statistics Program · Statistics Canada, building permits (tables 46-10-0087 and 34-10-0292). Under the Statistics Canada Open Licence.
Adapted from Statistics Canada (Census of Population 2021, population estimates 2025, 2021 census boundaries) under the Statistics Canada Open Licence; this does not constitute an endorsement by Statistics Canada. Neighbourhood names in some cities © OpenStreetMap contributors (ODbL).