Housing affordability improving across Canada, but Vancouver remains least affordable: RBC report

Housing affordability in Canada is improving due to lower interest rates, stable prices, and income gains, but Vancouver remains the least affordable market. Vancouver households spend 89.2% of income on housing, down from over 100% in 2024. Despite government efforts to increase supply and cool prices, demand still outpaces supply, and affordability remains a major challenge, especially for single detached homes.