Metro Vancouver is one of the most beautiful places in the world to live. It is also one of the most expensive. Many households face a serious shortfall between housing costs and their ability to pay. Finding housing that is affordable is particularly difficult for renters with low incomes and in certain areas of the region.
A region-wide challenge
In 2011, one third of households in the region spent more than 30% of their household income on shelter, placing them above the threshold that is considered affordable. Renter households are more likely to be in this situation. An estimated 45% of all renters (137,000 households) are paying more than the affordability threshold.
Household income is a key variable affecting affordability. Metro Vancouver has a relatively low median household income compared to other metropolitan areas in Canada. Housing that is affordable for residents who make under $30,000 per year is a particular challenge.