No BC city in nation's most affordable top 15, report finds

Not a single British Columbia city ranks among Canada's 15 most affordable places to buy a home, according to a new Royal LePage analysis — and Vancouver residents appear the least interested in leaving because of it.

Lethbridge, Alberta tops the affordability list, followed by Saint John, New Brunswick and Thunder Bay, Ontario. Among larger markets, Edmonton and Winnipeg also made the top 15.

When asked which of these affordable cities they'd consider moving to, Vancouver residents named Edmonton (18 per cent), St. John's (12 per cent), Charlottetown (10 per cent) and Lethbridge (10 per cent) as most appealing.

But fewer Vancouver residents overall said they'd relocate compared to people in Toronto (55 per cent) and Montreal (48 per cent). Only 46 per cent of greater Vancouver residents said they'd consider moving to an affordable market.

Royal LePage found that younger generations — Gen Z and Millennials — are significantly more likely to relocate for housing affordability than older cohorts. "Many people dream about relocating to a more affordable city or province, yet the number that actually relocate is smaller," said Phil Soper, president and CEO of Royal LePage. "Career opportunities, family obligations and established social networks are powerful forces."

Even so, the data suggests growing movement. "As housing affordability challenges persist in the country's largest urban centres, more buyers are widening their search and seriously evaluating markets they may never have considered just a few years ago," Soper said.

On a brighter note for the region: while no B.C. city ranked in the top 15 most affordable nationally, 61 of 62 B.C. cities analyzed between 2024 and 2026 saw affordability improve. West Vancouver, Richmond, North Vancouver and Milton saw the largest decreases in the percentage of income needed for a monthly mortgage payment.