Vancouver Income-to-Home-Price Ratio Highest in Canada

Home buying in Canada | BCBusiness

Recent data shows that B.C. holds the top spot for the widest gap between salaries and home prices

It’s no secret that Vancouver and B.C. as a whole are home to lots of high-priced real estate.

But an infographic compiled by Gold Zebra points out just how glaring the disparity is between salaries and the average price of homes in the province.

While the median household income in B.C. is $69,150 as of 2011, the average price of a single-family, detached home is $566,770, as of last year.

Obviously housing prices are growing at a pace that incomes can’t match. A recent column from The Globe and Mail offers some history and context on the exponential growth of home prices versus the slow rise of wage increases.

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