DRIVING UP THE COST OF LIVING A Study of Affordability in Greater Vancouver

Defining Affordability

Affordability is the ability to spend our earnings on things we WANT as opposed

to things we NEED

Looking at Affordability

OLD VIEW:

Affordability = Housing Affordability

<30 % of Earnings

The Problem

URBAN   More Expensive   UNAFFORDABLE

SUBURBAN   Less Expensive   AFFORDABLE

The Problem

URBAN   More Expensive   UNAFFORDABLE

SUBURBAN   Less Expensive   AFFORDABLE

Looking at Affordability

NEW VIEW:

Affordability = Housing + Transportation Affordability

<45 % of Earnings

H+T Findings: Manhattan

Housing Only Housing and Transportation

H+T Findings: Los Angeles

Housing Only Housing and Transportation

Vancouver?

Approach

• 2006 Census Data

Housing

• 2006 Census Data • 2011 Translink

Travel Survey Data (VKT)

Transportation

Vancouver Housing and

Transportation Affordability

Index

Vancouver - Results

Housing Only

Vancouver - Results

Housing and Transportation

Vancouver - Results

Housing and Transportation Housing Only

Cause: Transportation

Transportation > 15 %

Finding #1

1.  Including Transportation Costs has a BIG effect on Affordability

Finding #1

1.  Including Transportation Costs has a BIG effect on Affordability

MORE AFFORDABLE LESS AFFORDABLE

The 10 MOST Affordable

1. Mt. Pleasant/GNW 2. West End 3. Metrotown

4. Grandview-Woodlands 5. Strathcona

6. Broadway-Commercial 7. West End 8. Metrotown 9. West End 10. West End

Vancouver Burnaby

The West End Metrotown

The 10 LEAST Affordable

1. Rosemary, South Surrey 2. West Cloverdale

3. Westwood Plateau 4. West Bay

5. Cypress Park 6. Westwood Plateau 7. East Newton North 8. Heritage Mountain

9. East Fleetwood 10. British Properties

Surrey Coquitlam West Vancouver Port Moody

Rosemary Cypress

Finding #2

2.  The MOST affordable areas centrally located, have great transit access

The LEAST affordable areas are at the periphery and have poor transit access

Walkscore and Affordability

What relationship exists between Walkability and Affordability?

Transport Costs and Walkscore

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Walk Score

Greater Vancouver

Observed Linear Regression

Transport Costs and Walkscore

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Walk Score

Vancouver

Observed Linear Regression

Finding #3

3.  Walkable Communities necessitate lower transport costs and increase affordability

Walkability = Transport Costs = Affordability

Vanhattan or Hollywood North?

Became Affordable: 9 Areas Become Unaffordable: 49 Areas

Finding #4

4.  Greater Vancouver’s affordability situation is worse than we think

Actual vs. Experienced Affordability

(This is what CNT does)

Actual Affordability is how affordable an area ACTUALLY is

Actual Affordability

Housing + Transportation Median Income

=

Actual vs. Experienced Affordability

Experienced Affordability is how inhabitants EXPERIENCE it

Experienced Affordability

Housing + Transportation Local Income

=

Actual vs. Experienced Affordability

Actual vs. Experienced Affordability

Greatest Concern

Actual vs. Experienced Affordability

Vancouver

Actual vs. Experienced Affordability

Burnaby

Actual vs. Experienced Affordability

Surrey

Actual vs. Experienced Affordability

Surrey

Actual vs. Experienced Affordability

Surrey

Regional Affordability: Housing Alone

Regional Affordability: H+T

Regional Affordability: Change

Finding #5

5.  Improving Transit in the Suburbs (especially Surrey) would have the GREATEST benefit.

Surrey Rapid Transit Evergreen Line

How Wrong we Are

How Wrong we Are

Findings: Summary

1.  Transportation Costs SIGNIFICANT 2.  Central + Transit = AFFORDABLE 3.  Walkable = AFFORDABLE 4.  Greater Vancouver is LESS AFFORDABLE than we

think 5.  Transit in Suburbs = GREATEST BENEFIT

Recommendation #1

1.  Include Transportation Costs in the Affordability Equation

+

Recommendation #2

2.  Improve Transit across the region (especially in the suburbs)

Recommendation #3

3.  Rezone for Walkability

Walkability = Transport Costs

Recommendation #4

4.  Educate the public, especially those with lower incomes of new Affordability picture

>

Recommendation #5

5.  Locate Social housing in walkable communities

Recommendations: Summary

1.  INCLUDE transport in affordability equation 2.  Greatly IMPROVE transit service across region 3.  REZONE for walkability 4.  EDUCATE the public about Location Efficiency 5.  LOCATE Social Housing in walkable areas with

good transit

Thank You!