T24- Connecting the dots: linking affordable housing and...
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T24- Connecting the dots: linking affordable housing and transit
Transcript of T24- Connecting the dots: linking affordable housing and...
T24- Connecting the dots: linking affordable housing and transit
The Metro Vancouver Housing and Transportation Cost Burden Study A New Way of Looking at Affordability
May 2015
2006
2009
2012
The Traditional Way of Looking at Affordability
Housing costs should not exceed 30% of income
H Income
=< 30%
Owners • Mortgage payments
• Electricity, heat, water
• Other municipal services
• Property taxes
• Condominium fees
Renters • Monthly rent
• Electricity, heat, water
• Other municipal services
What happens when transportation costs are included?
A New Way of Looking at Affordability
H+T Income
=< ?
Transit • Cash fare
• Faresaver tickets
• Monthly passes
Auto • Insurance
• License and registration
• Sales taxes
• Depreciation
• Fuel and Maintenance
Key Findings • Conversations about affordability must include
both housing and transportation costs
• Renters and lower income households are feeling the burden the most
• Living near frequent transit makes it easier to absorb high housing costs
Housing Costs: Owners with Mortgages
Housing Costs: Renters
Transportation Costs: Transit
Transportation Costs: Auto
Transportation Costs: Total
Frequent Transit Network Factor (Renters)
H+T Cost Burden for Renters
