Housing affordability:
Map of housing affordability in Vancouver and Ottawa – MAP > affordabilityvo
As seen in the map above, there are ratings of affordability which were used from the The 11th Annual Demographic International Housing Affordability Survey. These ratings determine affordability ratings and puts them into according categories: Affordable 3.0 & Under, Moderately Unaffordable 3.1 to 4.0, Seriously Unaffordable 4.1 to 5.0, & Severely Unaffordable 5.1 & Over.
Affordability is measuring the ratio of median income to housing costs. It is a better indicator of housing affordability than housing cost alone because it accounts for the factors of a home-buyer’s affordability as well as available budget for purchasing a home.
As previously mentioned, the housing affordability rating categories are: “Affordable 3.0 & Under”, “Moderately Unaffordable 3.1 to 4.0”, “Seriously Unaffordable 4.1 to 5.0”, & “Severely Unaffordable 5.1 & Over”. These ratings were determined by the 11th Annual Demographic International Housing Affordability Survey. The purpose of this rating system is to convey the rates of affordability in cities and monitor patterns, highs, etc. It can also alert policy makers and governments when there are large decreases in affordability, which can be significant to the state or market. This survey can be trusted because it used in 378 metropolitan markets as well as the fact that it is endorsed by the UN and major world banks. It is a good universal scale for affordability.
Affordability is not a good indicator of a city’s livability because it does not really look into things such as poverty rates and employment availability. It also doesn’t account for the access one has to quality healthcare or education. In order to determine the livability of a city, these factors as well as many others, must be included so that a proper livability assessment can be made.



