15th Annual Demographia Ranking
of Canada's 6 Biggest Metros 3Q 2018
All 50 Demographia RANKED CITIES IN CANADA
and SOURCE NOTES and PAST RANKINGS below.
Thanks to Hugh Pavletich and Wendell Cox co-authors of the Demographia International Housing Affordability Survey. This chart shows that Vancouver BC continues to rank as the least affordable city out of the 50 largest Canadian cities with a multiple of 12.6 times median household income required to buy a median priced house. As of Q3 2018 the 6 biggest cities ranked from least to more affordable are: Vancouver 12.6, Toronto 8.3, Montreal 4.6, Calgary 4.0, Ottawa 4.0 and Edmonton 3.6
ALL 50 DEMOGRAPHIA RANKED CITIES in CANADA are TABLED BELOW
15th Annual Demographia Price / Income
Ranks of 46 Canadian Cities 3Q 2018
Affordable when under 3 and Severely Unaffordable when over 5
The table below is sorted with the highest ratio of median housing cost to median household income at the top showing that Vancouver is the most unaffordable city in Canada requiring a buyer to pay 12.6 times annual income. Vancouver ranks 2nd most unaffordable city in 308 world markets after Hong Kong CN (1st).
"As a city develops, nothing is more important than maintaining mobility and housing affordability." Alain Bertaud
Affordability is the ability for any urban household to be able to rent a dwelling for less than a 25% of its monthly income, or to buy one for less than about three time its yearly income. The mobility and affordability objectives are tightly related.
A residential location that only allows access to only a small segment of the job market in less than an hour commuting time has not much value to households, even if it is theoretically affordable.