On the lookout for a brand new metropolis as dwelling? Listed below are the highest 5 most cost-effective BC city facilities – Kelowna Capital Information

The five cheapest cities in British Columbia may have one thing in common, but represent a diverse selection of the provincial parishes, according to a report published by Zolo Homebase.

The ranking took into account cities with more than 100,000 inhabitants and considered three factors to create a rating; Affordability of housing, economic power and growth potential. Analysts found that housing affordability is just as important as a city with high-paying job opportunities that continues to grow.

Number one on the list, Nanaimo had average population growth of 7.28 percent and an average house price of $ 931,000 in 2021 with an average household income of $ 94,242. The value for money, based on average house prices from the most recent market trend data, compared to the average household or single earner income in that city was 9.88. A lower score reflects a cheaper housing market.

In Nanaimo, “an abundance of recreational and cultural opportunities gives residents an incomparable lifestyle,” the report said.

Kamloops ranked second on the list with an average household income of $ 107,440 in 2021, with an average population growth of 8.02 percent and an average home price of $ 628,000. The value for money, based on average house prices from the most recent market trend data, compared to the average household or single earner income in that city was 5.85. A lower score reflects a cheaper housing market.

According to Zolo, Kamloops offers residents the opportunity to have a “four-season lifestyle” with lots of craft beer, hiking trails and access to nature.

Chilliwack ranked third on the list with an average population growth of 10.02 percent and an average house price of $ 883,000 in 2021, with an average household income of $ 95,845. The value for money, based on average house prices from the most recent market trend data, compared to the average household or single earner income in that city was 5.85. A lower score reflects a cheaper housing market.

Chilliwack offers opportunities to explore, play, and relax, the report said.

Victoria came in fourth on the list with an average population growth of 6.3 percent and an average house price of $ 952,000 for an average household income of $ 113,863 in 2021. The value for money, based on average house prices from the most recent market trend data, compared to the average household or single earner income in that city was 8.36. A lower score reflects a cheaper housing market.

According to Zolo, Victoria is a city “known for its parkland and lifestyle,” as well as older buildings like the Craigdarroch Castle.

“Among many formal gardens in the city, Butchart Gardens has 55 acres with vibrant flower arrangements, statues, water features and a carousel,” the report said.

In fifth place, this next city could be a shock. Best known for being at the top of the list of most expensive cities, Vancouver landed fifth with an average population growth of 6.02 percent and an average house price of $ 2.4 million in 2021 with an average household income of $ 118,508. Dollar. The value for money, which is based on average house prices from the most recent market trend data and compared to the average household or single earner income in that city, was 20.13. A lower score reflects a cheaper housing market.

Vancouver, according to Zolo, is the densest and most diverse city in the province, surrounded by mountains and with a “flourishing art, theater and music scene”.

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