This map shows the median dwelling value divided by the median household income in each area based on 2010/2011 census data. Compare this map to the corresponding one for 2005/2006 data.

This is often taken as a measure for affordability. Intuitively the resulting quotient describes, for each region, how many years the typical household has to work in order to afford the typical dwelling unit.

It can also be interpreted as a measure of risk of gentrification. Areas with very high quotients will likely experience gentrification, as the demographics living in the region right now are unable to buy there again.

This scatterplot gives another view of the data and shows how different dwelling value and income pairs can lead to the same affordability index.

Also important to keep in mind is the percentage of households that are own vs rent. This can vary dramatically and have a strong influence on the local affordability index. Generally the local affordability index improves as the proportion of owner households increases, but this is much less the case in Vancouver.

One can clearly see how Vancouver looks quite different in terms of affordability, when compared to other cities like Calgary, Montreal and Toronto.

This difference becomes particularly striking when considering how unaffordability in Vancouver grew much faster than in other regions when compared to 2006 data, giving a visual representation of how the Vancouver housing market has become detached from local incomes.

On the regional level around Vancouver we see that unaffordability in 2011 was concentrated around the City of Vancouver, with further outlying regions comparatively more affordable. Moreover, the growth of unaffordability also seems to be confined to Vancouver proper when compared to 2006.

We may also look at the running shelter costs to income ratio and running owner shelter costs to income ratio, which give a different point of view on the same topic.

As always, our maps are Canada wide. Use the search bar, zoom and pan to explore other regions in Canada.