16 Jun What to Expect When Looking for Apartment Near TRU Kamloops
If you’re a student looking for an apartment near Thompson Rivers University, you’ll find that the market is dominated by older apartments built decades ago and a very competitive secondary rental market.
The secondary rental market refers to housing that wasn’t purpose-built for rental: basement suites, main-floor suites, laneway homes, or rooms in houses for rent. Whether you want to rent an apartment near TRU or live in secondary housing, there are relatively few choices because of low vacancy rates, low supply and high demand. You may have to look for some time and even then, you’ll probably have to settle for something less than your ideal.
Though vacancy rates have improved slightly in 2025, each year the city’s population grows by more than 1.5% (1.7% yearly average from 2016-2021), putting more strain on the rental housing market.
Kamloops Apartment Rentals vs. Secondary Rental Market
The secondary market is extremely competitive. When Kamloops landlords advertise basement suites or rooms in homes, listings rent quickly. The Kamloops 2024 Housing Needs Report highlights some startling facts about housing in Kamloops:
- Since 2014, vacancy rates in the city have been very low, between 1% – 2%, which makes the rental market very competitive. 3% is considered a healthy vacancy rate denoting a good balance between supply and demand.
- The secondary market is the biggest source of housing for renters.
- In 2023, of the approximately 12,000 units rented in Kamloops, around 61% were classified as coming from the secondary market.
Source for facts above: “Housing Needs Report shows Kamloops renters to face further market stress”, Radio NL News, Dec 11, 2024
Housing Starts 2010-2023, Rental Housing vs Owned Market Housing
From 2010 to 2017 a large majority of housing starts were market housing built for ownership (see Figures 1 and 2 below). While market housing still dominates, rental housing starts have increased, although 2022 was the only year since 2010 that rental housing outpaced owned housing.
Figure 1 (above): Bar graph of the data below.
| Rental Housing Starts vs. Owned Housing Starts (2010-2023) | |
| 2010: 0% / 100% 2011: 2% / 98% 2012: 14% / 86% 2013: 4% / 96% 2014: 25% / 75% 2015: 7% / 93% 2016: 21% / 79% |
2017: 3% / 97% 2018: 48% / 52% 2019: 35% / 65% 2020: 22% / 78% 2021: 33% / 67% 2022: 58% / 42% 2023: 15% / 85% |
Figure 2 (above): Percentage of rental housing vs. owned housing starts.
Data in figures 1 and 2 was adapted from the Kamloops 2024 Housing Needs Report (PDF).
Renting a Newer Apartment Near Thompson Rivers University
For Thompson Rivers University students finding it difficult to secure rental housing in older apartments or the secondary market, newer apartment rentals are a great choice. McGill Ridge Apartments frequently rents to TRU student-tenants, some of which partner up and share a 1 or 2 bedroom unit. Read about the pros and cons of TRU housing vs. sharing a 1 bedroom apartment.
If you’d like to apply to rent at McGill Ridge, view our apartment floor plans and complete a Preferred Unit Form. A representative will reply within a few business days.