08/26/2026
Vancouver Affordability Improves Again
Vancouver’s affordability took a notable step forward in late Q2 2026, with the city posting the biggest affordability gain of any major market. As home prices dropped by 2.9%, mortgage payments became a bit more manageable—despite those firmer mortgage rates that have been challenging so many. The mortgage-payment-to-income ratio fell by 2.6 points for the quarter, a real improvement, even though Vancouver still leads the country as the least affordable market. A typical mortgage payment now takes up 79.4% of median income here—a reminder of just how tough it can be for local buyers and sellers. What’s interesting is the shift we’re seeing: it’s price moderation, not lower borrowing costs, that’s giving buyers a little more breathing room. Vancouver was one of six markets where affordability improved, showing just how much pricing is influencing the landscape right now. For those of us working throughout Vancouver, Burnaby, and the surrounding areas, it’s a trend worth watching as we guide clients through their options.
