Vancouver Ranks 2nd most unaffordable place to live

(January 22, 2013 )

Demographia has ranked Vancouver as the 2nd most unaffordable place to live in the world. The survey takes the median house price in 337 markets and compares them to the median house hold income of the people in those markets.

In Vancouver, homes cost 9.5 times what people make.

Ranked number 1, Hong Kong is the worse. Homes cost 13.5 times the median income of $282,000.

Number 3 is Sydney Australia, number 4 is San Jose, and number 5 is San Francisco.

The most affordable place to live is Detroit Michigan. A house costs about $75,000 and the median income is just under $50,000.