News

Home ownership in Prince Rupert amongst most affordable in B.C.

When it comes to home ownership in Northern B.C., Prince Rupert is in the middle of the pack.

Number released by the B.C. Northern Real Estate Board show 30 per cent of household income goes to finance the cost of home ownership, which includes taxes, utilities, mortgage payments, user fees and insurances. That figure is below the calculated affordability in 100 Mile House — the highest at 47.6 per cent of household income — Prince George, Fort St John and Smithers, but above the affordability in Quesnel, Mackenzie, Terrace, Williams Lake and Kitimat — the lowest at 21.5 per cent.

The affordability in Prince Rupert is largely unchanged from last year and has been fairly consistent since a spike experienced in 2008.

While Prince Rupert may be average when it comes to the affordability of home ownership in the north, the region is still one of the most affordable places to live. Approximately 31.9 per cent of household income north of 100 Mile House goes to pay for a home compared to 69.2 per cent for the rest of the province and 84.2 per cent in Vancouver.

"This positive difference in affordability has persisted despite double digit increases in sales and prices of single family homes in Northern B.C.," said the board in a statement.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

UPDATE: Rice receives written confirmation of changes to wheelchair cabin policy
 
Breakfast program begins at Port Edward Elementary
 
Hikers rescued from Mount Hays
On call along the west coast 24/7
 
Hydro announces more dam upgrades worth ‘hundreds of millions of dollars’
 
Smithers couple conquer B.C.’s coast
Helping literacy
 
Armed guards, scanners for B.C. legislature
 
Low income earners face northwestern B.C. rental challenge

Community Events, November 2014

Add an Event


Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Nov 26 edition online now. Browse the archives.