Vancouver Housing Affordability Sets A New Record

Vancouver

2023/01/26

Vancouver is the least affordable housing market in Canada and it is getting worse, according to a recent report. In 2021, a homebuyer needed to earn $200K to afford a home in Vancouver. However, the qualifying income has risen to $268K by the end of 2022, which is 3 times BC's median household income. This is the highest affordability barrier in the country and represents a 34% increase in just one year.