Photo: Sam Beebe · CC BY 2.0Terrace sits 42% below British Columbia’s towns on home values
The census median was $420,000 in 2021, against $720,000 for British Columbia’s towns. Sales are published too: 295 buyers in 2023, at a median $485,000. For 2024, the median assessed value of a residential property is $434,000.
What Terrace’s homes are worth, three ways
Three sources, each set against British Columbia’s towns only: provinces measure value differently, so they don’t line up across borders. An owner’s figure, not a sale: the census of May 2021 asked what each home would fetch.
median, owners’ estimate
- Average
- $434K
- Owners
- 3,400
- British Columbia’s towns
- $720K
- The typical Canadian town
- $406K
median sale price
- Average sale
- $490K
- ÷ buyers’ income
- 3×
- Buyers
- 295
- 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 Terrace carry assessments 39% under the middle of British Columbia’s towns
The 2024 assessment roll counts 4,055 homes in Terrace: detached houses make 75% of them, condos 7%.
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.
Terrace’s homes: when they went up and what they are
The 2021 census counted 4,870 occupied homes in Terrace; 60% of them are single-detached houses. Half went up before 1981.
Homes by period of construction the tick is the median of British Columbia’s towns
Homes by kind
| Terrace | British Columbia | Canada | |
|---|---|---|---|
| Condominiums | 11% | 10% | 8% |
| Needing major repairs | 8% | 6% | 6% |
| Too small for the household | 5% | 4% | 3% |
| Households in core housing need | 8% | 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.
13.3 new homes a year per 1,000 in Terrace: fewer than British Columbia’s towns (18.1)
From 2018 to 2023, permits in Terrace created 366 homes, about 61 a year. About 48% went into single-unit buildings, where British Columbia’s towns built 27%.
The busiest year: 2021, with 124 new homes
New homes a year per 1,000 homes
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.
Terrace is cheaper than most of British Columbia’s towns: 42% under 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 Terrace: Electoral Area E, Kitimat-Stikine
The places around Terrace at the 2021 census: median and average value, and how many own.
| Town | Median home value | Average | Owners | km |
|---|---|---|---|---|
| Terrace | $420K | $434K | 70% | |
| Electoral Area E, Kitimat-Stikine | $332K | $344K | 78% | 4.3 |
| Electoral Area C (Part 1), Kitimat-Stikine | $468K | $512K | 89% | 4.6 |
Census 2021 values; km.
Questions about property prices in Terrace
Is Terrace expensive for British Columbia?
Cheaper than the middle: British Columbia’s towns come to $720,000, Terrace to less.
What is the average house price in Terrace?
The average sale was $490,000 in 2023, and at the median, buyers paid 3 times their income.
How many households in Terrace are in core housing need?
8% of Terrace’s households, near the 10% of British Columbia’s towns, live in a home that is unaffordable, crowded or in poor repair and can’t afford a better one nearby.
Can I see individual sales or prices by street?
No. Sales are published as town figures (median, average, buyers); street-level or single sales aren’t released.
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).