π΄ You need to earn a whopping $230,000 per year to buy the AVERAGE home in Vancouver, according to ratehub.ca. π°π‘
This income is based on the average home in Vancouver being $1,183,300.
Do you want to know what you’d have to earn to buy the average DETACHED house, valued at $1,972,400? It’s, for lack of a better word, an INSANE amount of $383,959. Remember this is just the average, and a lot of those homes are pretty crappy to be honestπ . π€―π
This chart shows that just over in Calgary, Alberta, you only need to earn $118,000 to buy the average home valued at just $569,000. And what would it cost to buy the average DETACHED home in Calgary, which is sitting at just $718,000? It’s just $139,000. Remember that’s compared to Vancouver’s nearly $400,000 income. πποΈ
So what do you think? What do make of living in Vancouver, where you’d have to literally be in the top 1.5% of income earners to afford an average house vs Calgary, where most middle class families with two income earners can easily afford a detached house?
Please let me know your thoughts in the comments section belowπππ! π¬
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