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Home / News / Study shows Northern B.C. remains exceptionally affordable for housing

Study shows Northern B.C. remains exceptionally affordable for housing

A recent study shows that Northern BC remains exceptionally affordable for housing.

The study says the average homeowner in the north is able to pocket over 50% of their salary after housing costs.

Prince Rupert and Fort St. John saw the biggest improvements in affordability, while Quesnel and Terrace have become less affordable.

Residents in Terrace saw about 34 per cent of their income going to housing costs.

The board does note that the reasoning in the drop in affordability has to do with other expenses.

John Evans is the Vice President of the Northern BC Real estate board.

He says while there isn’t a mad rush to move to the north from southern B.C., there are some signs that people are truly considering the move as an option.

He says residents in the south aren’t able to bank nearly as much as the north, even though prices for items like heating and other costs have increased over the years.

Evans says the affordability could worsen in the Terrace, Kitimat, and Prince Rupert area if projects like LNG move forward, but he says the projects actually have to be started to really see what impacts it has on costs of housing.

About Corey Callaghan

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