Vancouver Housing Designated ‘Impossibly Unaffordable,’ Survey Shows
(Image courtesy of CBC)
For many Vancouverites, housing remains a major issue, and their woes seem to be a global phenomenon.
Vancouver at the bottom
The 2025 edition of the Demographia International Housing Affordability report, created by the Chapman Center for Demographics and Policy, ranked the Vancouver market fourth-last when it came to housing affordability. The city was given a median multiple of 11.8 and was only ahead of San Jose, Sydney, and Hong Kong, according to the 95-city, eight-country report. The median multiple refers to a price-to-income ratio that divides the median house price by the median household income. Demographia classifies a score of nine or above as “impossibly unaffordable.”
While Vancouver, even 20 years ago, was deemed a tough housing market, its median multiple has more than doubled since 2005 and is far beyond nearly all of its North American peers.
City Median Multiple (2005-2025)
Rents Continue to Go Up
Individual rent numbers all show this as well. Looking at data from October 2012 and comparing it to October 2024 shows that average rents have nearly doubled in many areas of the city, while New Westminster and Surrey have seen average rents more than double.
Average Rents for Row/Apartment Homes Per Neighbourhood/City
While finding out that Vancouver is not the worst housing market in the world will provide some solace to people, it's cold comfort to many in the city struggling to find a home.
