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

Margaret.Eberle@metrovancouver.org