Housing Affordability Rating Categories
|
|
Rating
|
Median Multiple
|
Severely Unaffordable
|
5.1 & Over
|
Seriously Unaffordable
|
4.1 to 5.0
|
Moderately Unaffordable
|
3.1 to 4.0
|
Affordable
|
3.0 or Less
|
- Vancouver: Vancouver is the most unaffordable of the 28 housing markets measured in Canada and the most unaffordable of the 272 metropolitan markets ranked in Ireland, the U.K. New Zealand, Australia, the U.S. and Canada.
- Toronto: Moves to 5.2 from 4.8, which puts it into the “Severely Unaffordable” category for the first time.
- Calgary and Edmonton: Notably, Calgary and Edmonton became fractionally more affordable for the first time after climbing two points over the previous four years.
- Montreal: At 4.9, Montreal is approaching “severely unaffordable” (5+) for the first time. It appears Montreal has caught up to its urban growth limit (set in the 1970s) and this has now become a real constraint on land supply.
- Winnipeg: Continues its slow but seemingly inexorable loss of affordability: To 3.3 from an earlier range of 2.7 to 3.0 in the past four years.
|
Metropolitan Market
|
Median Multiple
|
|||
2009
|
2008
|
Change
|
|||
Abbotsford
|
6.6
|
6.5
|
0.1
|
||
Barrie
|
3.4
|
3.4
|
0
|
||
Calgary
|
4.6
|
4.8
|
-0.2
|
||
Edmonton
|
4.1
|
4.2
|
-0.1
|
||
Hamilton
|
4.2
|
4
|
0.2
|
||
Kelowna
|
5.9
|
6.8
|
-0.9
|
||
Kingston
|
3.7
|
3.5
|
0.2
|
||
Kitchener
|
3.4
|
3.5
|
-0.1
|
||
London
|
3.2
|
3.2
|
0
|
||
Moncton
|
2.5
|
2.4
|
0.1
|
||
Montreal
|
4.9
|
4.6
|
0.3
|
||
Ottawa-Gatineau
|
3.8
|
3.4
|
0.4
|
||
Peterborough
|
3.9
|
3.6
|
0.3
|
||
Quebec
|
3.6
|
3.4
|
0.2
|
||
Regina
|
3.5
|
3.5
|
0
|
||
Saguenay
|
2.8
|
2.6
|
0.2
|
||
Saint John
|
2.8
|
2.7
|
0.1
|
||
Saskatoon
|
4.4
|
4.6
|
-0.2
|
||
St. Catharine’s-Niagara
|
3.8
|
3.6
|
0.2
|
||
St. John’s
|
3.1
|
2.8
|
0.3
|
||
Sudbury
|
3.1
|
3.3
|
-0.2
|
||
Thunder Bay
|
2.2
|
2.2
|
0
|
||
Toronto
|
5.2
|
4.8
|
0.4
|
||
Vancouver
|
9.3
|
8.4
|
0.9
|
||
Victoria
|
7.9
|
7.4
|
0.5
|
||
Windsor
|
2.2
|
2.3
|
-0.1
|
||
Winnipeg
|
3.3
|
3
|
0.3
|
||
National Median Multiple
|
3.7
|
3.5
|
0.2
|
- The median multiple is recognised by the U.N. and the World Bank, as well as being more broadly recognised as the most succinct and internationally transferrable measure of housing affordability.