Home Value to Income Ratio | Metro Vancouver

The ratio of home value to household income is a measure of housing affordability and the financial sustainability of home ownership. It is calculated by dividing the median owner-reported home value by the median annual before tax household income of homeowners. A higher ratio indicates a greater affordability challenge, typically reflecting high property values relative to household earnings. This metric helps identify areas where housing costs may be disproportionately high compared to residents' incomes, and highlights affordability differences across housing types and jurisdictions.

Ratio of median owner-estimated home value to median household income in 2021

Ratio of median owner-estimated home value to median household income by structure type in 2021

Key observations

Metro Vancouver’s median home value to income ratio (all units) was 9.7 — indicating that nearly half of the region’s privately-owned dwellings were valued at 10 times their homeowners’ household income. West Vancouver observed a ratio twice as large, while Vancouver and Electoral Area A (including UBC) had 40% larger ratios than the rest of the region.
White Rock, Richmond, and Electoral Area A observed higher home value to income ratios despite relatively low median home values, indicating lower median household incomes (total annual before tax) of homeowners.
In Metro Vancouver, single-detached houses and duplexes (including houses with secondary suites) had greater home value to income ratios compared to apartments.

Ratio of median owner-estimated home value to median household income by structure type in 2021

Notes

The glossary provides definitions of each technical term, ensuring consistent interpretation.
Data is based on Census counts and does not include undercount estimates.
Jurisdiction and Metro Vancouver totals may not equal the sum of individual values due to rounding, data suppression, or the omission of smaller data points to maintain visual readability. If a geography is not listed or appears missing, the associated data was either unavailable or did not meet reporting thresholds.
Proportion percentages are calculated using available data and may exclude instances of missed or suppressed data.
Electoral Area A includes UBC/UEL (University of British Columbia / University Endowment Lands).
Home value to income ratios per dwelling type utilize median household income (total annual before-tax income of owners) per dwelling type.
Structure type "apartment, duplex" includes up-down duplexes as well as houses with secondary suites (excluding rented suite units).
Median home value is owner estimated, and median household income is owners’ total annual before-tax income adjusted by structure type.

Source
This information is from Statistics Canada census data and a custom data request.

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