Vancouver has once again landed in the global spotlight for the wrong reason: housing affordability. According to a recent ranking by Remitly, the city is now considered the fifth least affordable place in the world for aspiring homeowners—and notably, it’s the only Canadian city to make the global top 10.
The numbers help explain why so many residents feel homeownership is slipping further out of reach. The report suggests that the average single-income earner can afford just 34.9% of the price of an average home. In other words, even with steady employment, purchasing a typical property in Vancouver is simply not realistic for many people without additional household income, significant savings, or outside support.
While Vancouver stands alone among Canadian cities in the world’s top 10, the broader list still shows that affordability pressures are widespread. Several U.S. markets dominate the top of the ranking, with San Jose, California taking the number-one spot, followed by other major American cities where income growth hasn’t kept pace with housing costs.
The report also points to other Canadian cities struggling under similar pressures. Toronto, Mississauga, and Brampton were included among the least affordable locations as well, reinforcing what many buyers already know: the gap between wages and housing prices is not just a Vancouver issue—it’s becoming a national challenge.
For Vancouverites, the impact is visible everywhere, from longer commutes and increased renting to delayed life plans and a growing sense that buying a home requires exceptional circumstances. With demand remaining high and supply constraints continuing to shape the market, affordability is likely to remain one of the region’s most pressing issues—especially for first-time buyers trying to break in.
