Housing Strategy

The 2025 Housing Needs Assessment for the Town of Olds identifies a significant and growing mismatch between housing supply, affordability, and community needs.

The town faces a substantial housing deficit, requiring 1,386 new units by 2026 and 2,483 by 2041—averaging 124 units per year. Rental vacancy rates remain critically low (0.6%), and a large share of residents—especially low-income households, seniors, students, and young families—are spending more than 30% of their income on housing.

Most of the housing stock is composed of large, single-detached homes, while the greatest demand is for smaller, more affordable units such as one-bedroom apartments, secondary suites, and “missing middle” options like duplexes and townhomes.

Community feedback emphasizes a lack of suitable housing for downsizing seniors, overcrowded families, and youth at risk of homelessness.

The local economy is also impacted, with businesses reporting recruitment challenges due to housing shortages.

The report recommends enabling diverse, affordable housing through zoning reform, faster permitting, and public-private partnerships. It also highlights the importance of non-market housing and targeted supports for vulnerable groups.

Without a strategic shift, Olds risks deepening affordability issues and limiting its ability to grow sustainably. Addressing these challenges is key to supporting population growth and long-term economic resilience.

Read the 2025 Housing Needs Assessment Report.

• Too Few Rentals 
  Rental vacancy is just 0.6%, meaning it’s very hard to find a place to rent. 

• Mismatch Between Homes & Households 
  61% of households only need one-bedroom homes, but 72% of existing houses have three or more bedrooms, leading to higher housing costs and limiting access to suitable options for singles, seniors, and small households.

• Affordability Pressure 
  Almost half of households spend more than 30% of income on housing. 

• Seniors Need Options 
  Nearly 1 in 4 residents is over 65. Many want to downsize but have no local options. 

• Barriers to Development
  Builders say regulations and costs make it harder to add new housing.

• More Housing Choices 
  Apartments, duplexes, and townhomes to match changing needs. 
• Affordable Options for All Incomes 
  Support accessible housing solutions, including rental and 1-2 bedroom housing. 
• Vibrant Core Neighborhoods 
  Focus growth in Uptowne Olds and areas with existing services. 
• Respecting Community Character 
  Ensure new development fits in with existing neighbourhoods. 
• Partnerships with Builders & Community 
  Work together to get the right homes built in the right places. 

1. ️More Homes in Core Areas 
   Promote infill and mixed-use housing in Uptowne and East Olds. 
   ➤ Target: 100 new units

2. Missing Middle Housing 
   Support duplexes, triplexes, and townhomes. 
   ➤ Target: 200 

3. More Rental Options 
   Create purpose-built rental housing and support secondary suites. 
   ➤ Target: 175 units

4. Preserve Neighbourhood Character 
   Update design guidelines and protect green spaces. 
   ➤ Review redevelopment plans by 2027 

5. Seniors Housing 
   Enable aging-in-place, accessible, and assisted living options. 
   ➤ Host stakeholder discussions in 2025–2026 

6. Create a Pro-Housing Environment 
   Reduce red tape, attract private investment, and market Olds as a great place to build.

In the Short Term (1–2 years): 

• Increase in housing permits & speed of permit approvals 

• Use of Town incentive programs 

• Public and stakeholder engagement 

In the Long Term (3–5 years): 

• 1.8% annual population growth 

• More diverse housing types 

• Improved housing affordability

As we grow, we’ll plan ahead to: 

• Prevent traffic and parking problems 

• Use existing water, sewer, and roads efficiently 

• Support fire, police, and emergency services 

• Work with schools and healthcare providers to maintain essential services 

• Maintain the character of our neighbourhoods 

Funded by the 2023 operating budget and completed by McElhanney Engineering, the purpose of the Housing Needs Assessment was to help the Town understand the local housing situation and provide objective data and analysis to prospective housing developers. This report was presented to Council at its meeting on October 10, 2023.

This project will be brought to Council on a bi-annual basis for funding to update and analyze our housing situation, and this report is an essential first step in the process. Future iterations of this report will seek to gather more specific data for the Town of Olds, as the Town is currently mixed into the Mountain View County region with Statistics Canada. While this is not bad or inaccurate, having Town-specific data will be a worthwhile investment. 

The report confirms many issues that were suspected, including:

• There is a housing shortage across virtually all sectors, including rental units, seniors, students, and starter homes. 
• Housing inventory is highly concentrated in the single detached realm and new builds are predominantly 'higher end' homes. 
• There are a significant number of older homes, which could mean a reduction on housing stock as these are demolished or abandoned. 
• Community engagement was undertaken, and there was an overwhelming consensus that housing affordability and shortages are primary issues.

This report has been shared with key stakeholders locally and in the development community.

Read the 2023 Housing Needs Assessment Report.

The purpose of the Housing Needs Assessment was to help the Town understand the local housing situation and provide objective data and analysis to prospective housing developers. This report, the 2023 Housing Needs Assessment Report, was presented to Council at its meeting on October 10, 2023.

The report confirms many issues that were suspected, including:

• There is a housing shortage across virtually all sectors, including rental units, seniors, students, and starter homes. 
• Housing inventory is highly concentrated in the single detached realm and new builds are predominantly 'higher end' homes. 
• There are a significant number of older homes, which could mean a reduction on housing stock as these are demolished or abandoned. 
• Community engagement was undertaken, and there was an overwhelming consensus that housing affordability and shortages are primary issues.

This report has been shared with key stakeholders locally and in the development community.