Courtesy of 250News.com:
The latest housing affordability survey shows, once again, that northern communities continue to be affordable places to buy single detached family homes.
Based on a purchase with a 5 year fixed mortgage with a 25% down payment, the BC Northern Real Estate Board reports it would take abut 31.6% of a median family income to have a home in Northern B.C.. That compares to 66.4% of the same family’s income in the rest of the province, and 82.2% in Vancouver.
The most affordable community right now is Kitimat where it would take about 17.9% of family income to buy a home. Prince George home ownership would require about 31.6% of a family’s income, placing it in the middle of the pack.
Here is how the northern communities stack up:
Community
|
Average home Price 2012 (approx)
|
% of household Income
|
Kitimat
|
$175,000
|
17.9%
|
Mackenzie
|
$145,000
|
25.8%
|
Quesnel
|
$190,000
|
26.5%
|
Prince Rupert
|
$175,000
|
30.%
|
Terrace
|
$210,000
|
31.2%
|
Prince George
|
$250,000
|
31.6%
|
Williams Lake
|
$250,000
|
33.4%
|
Fort St. John
|
$355,000
|
34.6%
|
Smithers
|
$255,000
|
35.3%
|
100 Mile House
|
$220,000
|
45.7%
|
No comments:
Post a Comment