A Toronto-based real estate firm says Kamloops and Prince George are the two most affordable cities for home ownership in British Columbia.
In a post on its website, Zoocasa measures average home prices versus median annual income for one- and two-person families.
It finds Prince George and Kamloops offer roughly 4:1 ratios for two-income households.
Vancouver, the least affordable market in B.C., presents home buyers with a 14:1 ratio.
It is revealed that, for two-or-more-person households, there are only two major housing markets in BC that come close to fitting the criteria: Prince George and Kamloops, where the ratio of the home price to the total income is four. However, homeownership affordability remains out of reach for single-person households, at nine times their annual income in Prince George and fourteen times in Kamloops.
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