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Blog: How much home can you get in affordable Prince Rupert?

Four-bedroom home in Prince Rupert, on sale for $385,000. - Photo: MLS/Canadian Real Estate Association
Four-bedroom home in Prince Rupert, on sale for $385,000.
— image credit: Photo: MLS/Canadian Real Estate Association

On Monday, Prince Rupert was named the most affordable housing market in northern B.C.

According to the Housing Affordability Study, 30 per cent of household income in Prince Rupert goes toward the cost of housing, lower than Terrace, Smithers, Prince George, Fort St. John, and 100 Mile House. (100 Mile House was named the least affordable in the region, with 45.7 per cent of household incoming goes towards housing.)

So, Prince Rupert's relatively cheap. Relatively.

Compare its market to Metro Vancouver – where an estimated 82.2 per cent of household income goes towards housing – or to B.C. as a whole which chimes in at 66.4 per cent.

In Vancouver, the most expensive listing in the entire MLS system is located in The Keefer building in Chinatown (according to the Vancouver Observer). It costs $1.7 million, which some might consider actually cheap for downtown VanCity. It has two bedrooms and one-and-a-half bathrooms. It's beautiful – "Batman" worthy, says the Observer – and it's spacious and all, but how does it compare to something less than a quarter the cost?

The average home price in northern B.C., according to the Housing Affordability Study, is $275,000. Go a little higher than that to almost $400,000, and you're just over halfway to Vancouver's average price of $782,000.

Just below are some examples from Prince Rupert. Compare them to similarly priced homes in Vancouver, for under $400,000.

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Prince Rupert Home 1 – $399,000

4 Bedrooms, 4 bathrooms, 3400 sq. ft.

Prince Rupert Home - $399,000

Prince Rupert Home for Sale - $399,000

Prince Rupert Home 2 – $385,000

4 Bedrooms, 3 bathrooms, 2200 sq. ft.

Prince Rupert home for sale for $385,000

Prince Rupert Home 3 – $399,000

4 Bedrooms, 3 bathrooms, 3777 sq. ft.

Prince Rupert Home for Sale - Realtor.ca MLS

Prince Rupert Home for Sale - Realtor.ca -MLS

Prince Rupert Home for Sale - $399,000 - Realtor.ca MLS

 

 

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