As Vancouver continues to grow and evolve, understanding its economic and demographic trends is essential for businesses, investors, and residents alike. Our latest report examines key aspects of Vancouver and more broadly, the Clark County market, from employment trends to population growth, offering a roadmap for the region in 2025.
Employment Trends: A Balanced yet Evolving Job Market
Clark County boasts a balanced economy, with healthcare, professional services, retail, and construction serving as primary sectors. While year-over-year job numbers slightly declined (-0.5 percent, specific areas such as financial activities (+7.8 percent) and K-12 education (+3.7 percent) displayed robust growth. This shift points to an emerging dynamic favoring white-collar employment, driven by an influx of degree holders and skilled professionals.
The shift underscores the importance of aligning local workforce development with the evolving demands of these growing industries. Additionally, the stability provided by healthcare and educational institutions highlights the foundation for sustained economic resilience.
Housing and Population Dynamics
Vancouver's unique population growth, fueled more by local residents expanding families than in-migration, is a testament to its community-oriented appeal. This trend, coupled with a steady rise in homeownership rates (68.7% as of the latest data), reflects growing confidence in the region's stability and potential. However, with housing prices up 50% since 2020, balancing affordability and growth remains a critical challenge.
To address these issues, initiatives focusing on increasing housing supply and modernizing urban spaces, such as the transformation of Waterfront Vancouver, will play pivotal roles in maintaining the region's economic attractiveness.
Opportunities on the Horizon
From job diversification to demographic stability, Vancouver stands as a city ripe with opportunity. The convergence of higher incomes, declining poverty rates, and a vibrant housing market lays a promising foundation for future growth. Businesses, families, and individuals seeking a thriving community will find plenty to appreciate in Vancouver's dynamic market.
Washington Trust remains committed to fostering growth and stability in this expanding market. As Vancouver continues to evolve, partnerships and informed strategies will ensure its bright future for generations to come.
Report Contributors
 Bryan Dent
VP / Relationship Manager |
 Phil Czajka
VP / Relationship Manager |
 Amy Price
Small Business Banking Relationship Manager |
 Erik Selden
SVP and Team Leader |
 Steve Scranton
Chief Economist |
 Dani Reyes
Branch Manager |