Surprise, surprise. Another study has come out reporting that Metro Vancouver is the worst city for singles to buy property in all of Canada.
Property website, Zoocasa, released the study on Valentine’s Day (way to rub it in).
Vancouver Worst City To Buy For Singles
We already know that Vancouver is the second-least affordable housing market in the world, so trying to buy on a single income makes this a lot worse.
Thanks for pointing that out Zoocasa.
The report revealed the best and worst cities to buy a home on one person’s income throughout Canada.
The website found that the annual average income for a single-person in Metro Vancouver, across all ages is $50,271.
However, the annual income required to buy a home is $139,082.
With the price of homes averaging to be about $1,019,600, this makes the biggest income-to-price gap in the country.
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This gap is even worse for younger residents. The study reported single Vancouverites, aged 24-34, earn an average of $46,308 annually.
However, most people in this category would probably buy a starter apartment or condo than a home anyway.
Coming in second was the Greater Toronto Area.
The best place to buy? Good ol’ Regina!
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