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2015 Vancouver Housing Report Card

May 11 2016

$600 million invested in affordable housing

Couple facing home

Our annual Housing Report Card will be presented to Council on May 17, 2016, marking the halfway point in the 10-year Housing and Homelessness Strategy (2012-2021).

Over the last five years we have contributed over $600 million to create affordable housing:

  • $250 million for land
  • $360 million for new affordable housing

Nearly half of all new rental housing in the region is being built in Vancouver.

Read the 2015 Housing Report Card PDF file (1.3 MB)

Staff will present a separate report on homelessness to Council on May 31, 2016, with key indicators and findings.

“Over the last five years we took bold steps to create and protect affordable homes in Vancouver using new tools, policy and partnerships, but even with all of the City’s efforts there's much more to be done,” says Mayor Gregor Robertson.

“Housing costs continue to rise faster than incomes for both renters and owners, and young people in particular are feeling the impact. We need to scale up our work and dedicate even more tools and resources to improving affordability in Vancouver.”

Our accomplishments so far

Our significant achievements since 2012 include:

  1. Creating BC's strongest policy for tenant protection and relocation in a city where more than 50% of households rent. Now over 100,000 Vancouver renter households are protected
  2. Enabling over 5,100 new market rental homes, which will increase Vancouver's stock by 10%
  3. Working with partners and creating new policies to enable 12,000 new affordable homes across Vancouver
  4. Establishing the Vancouver Affordable Housing Agency to create 2,500 additional affordable homes by 2021

“Providing affordable housing for all of our residents is critical to ensuring the social and economic health of our city, however, Vancouver is facing housing affordability challenges unlike we’ve ever seen before,” says City Manager Sadhu Johnston. “The City will continue to explore new housing options and creative partnerships to address the current challenges.”

Our focus for the next five years

As well as continuing our work to achieve the current goals of the Housing and Homelessness Strategy, we will undertake a refresh of the strategy to update its goals, targets, and actions to address the current affordability crisis in Vancouver.

Over the next five years we will pursue:

  1. Updating policies to preserve existing rental homes and reinvest in aging buildings
  2. Increasing social and supportive housing for low-income residents
  3. Increasing affordable housing choices for all residents
  4. Creating more family-friendly housing
  5. Exploring more innovative housing types
  6. Implementing a system to encourage rental or residency of the 10,000+ empty homes
  7. Using our lands and assets to maximize affordable housing options for families and our workforce

We have dedicated $85 million in the 2015-2018 Capital Plan to create more affordable housing options for our residents. However, we recognize that more tools are needed to further increase affordability in Vancouver.

A continued focus by us, our partners, and senior levels of government will be required to fully realize these goals. We will work collaboratively with the provincial and federal government to fund affordable housing.