If you want to live comfortably in Vancouver, you’re probably not working enough. A new report highlights the hourly wage someone needs to make to afford a two-bedroom rental apartment in Vancouver.
The report, released by the Canadian Centre for Policy Alternatives (CCPA), says that amount is $35.43 an hour.
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In other words, if you’re someone who is making minimum wage, you’d need to work 112 hours a week to afford a two-bedroom apartment in the city.
If a person wants to afford a one-bedroom apartment in Vancouver, they’d need to work 84 hours a week.
The average wage across all of Canada needed to afford a two-bedroom apartment is $22.40/hr. For a one-bedroom apartment, the average wage across Canada is $20.20/hr.
“Of course, if a worker doesn’t have a full-time job the rental wage will be higher no matter where they live,” reads the report.
Over in Toronto, a person needs to make $33.70/hr to afford a two-bedroom apartment.
Victoria was the third highest on the list behind Vancouver and Toronto. If someone was looking for a two-bedroom apartment rental in BC’s capital, they’d need to make $28.47/hr.
Back in May, a separate report released by Rentals.ca stated that it costs nearly $3,000 for a two-bedroom apartment rental in the city.
Vancouver is a gorgeous city, but is it worth the price?
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