Metro Vancouver Affordable Housing Gap

This is a B.C. news story, published by Global News, that relates primarily to Atkey news.

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affordable housing

Global News

•

Business

Business & Economics

Massive gap in Metro Vancouver affordable housing, report finds | Globalnews.ca

Summary

Nutrition label

72% Informative

Housing report shows Metro Vancouver needs 11,400 new affordable rental homes each year .

That’s a steep increase from an average of 433 between 2018 and 2023 .

Head of the BC Non-Profit Housing Society says B.C. needs 12,500 new affordable homes a year .

Atkey said seniors are the fastest-growing demographic among people experiencing homelessness.

While the pace has slowed, rents are expected to continue rising, it said. Meanwhile, vacancy rates across Metro Vancouver increased to 1.6 per cent in 2024 , up from 0.9 per cent in the previous two years . But the district said in a statement that vacancy rates across the region remained “well below a healthy level” of at least three per cent..

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful