2019
RANK
2018
RANK
COMMUNITY
AVERAGE
HOUSEHOLD
INCOME (10%
WEIGHT)
AVERAGE
HOUSEHOLD
INCOME
UNDER 35 (10%)
PORT COQUITLAM $114,220 $92,918
SALMON ARM $86,722 $77,668
RICHMOND $98,489 $79,919
COURTENAY $76,655 $56,975
SIDNEY $86,241 $74,025
SAANICH $108,130 $72,131
QUESNEL $91,294 $82,537
CHILLIWACK $89,546 $72,210
PRINCE GEORGE $99,269 $69,707
PENTICTON $80,858 $69,577
VERNON $84,545 $69,581
PITT MEADOWS $109,239 $96,492
DAWSON CREEK $101,005 $76,319
VANCOUVER $99,937 $71,395
BURNABY $93,057 $76,163
WILLIAMS LAKE $87,633 $63,716
DUNCAN/NORTH COWICHAN $86,727 $60,746
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
14
29
25
22
28
15
32
34
21
13
2
9
26
31
30
Quesnel beneting from aordable housing mar-
kets, short commute times and solid unemploy-
ment gures.
Parksville and Salmon Arm made the largest
jumps—the former assisted by a low unemploy-
ment rate and high average incomes for under-35
earners and the latter by robust income growth,
aordable housing and a short commute.
The new commute-time indicator puts
greater emphasis on a community's quality of
life. "People have more opportunity to choose
their mode of transportation the closer they live
to their work," Biglands explains. "There is also
an opportunity cost for the time spent commut-
ing." As she puts it: "With less time spent com-
muting, households can use that time as they
please. This can lead to more satisfaction as work
and home life are better balanced."
T O M O R R O W N E V E R K N O W S
Although the 2019 outlook for B.C. is positive,
economists expect a moderation from the pace
of recent years, with TD Economics forecasting a
decline in real gross domestic product to 1.9 per-
cent in 2019, from 2017's 3.9 percent and 2018's
forecasted 2.4 percent. Still, a few key factors
could signicantly aect B.C. communities in
2019 and the years ahead, including the housing
market, oil and gas industry, and global economy.
Even with property sales declining in 2018
after the introduction of mortgage stress-
testing and interest rate hikes, housing in much
of B.C. remains unaordable. But where the mar-
ket goes now is anybody's guess as prices stay
untethered from local incomes.
In Metro Vancouver, a modest price correc-
IN METRO
VANCOUVER, A
MODEST PRICE COR-
RECTION COULD
MAKE IT EASIER FOR
COMPANIES TO LURE
AND RETAIN SKILLED
LABOUR, AND ATTRACT
INVESTMENT. CON-
VERSELY, CONTINU-
ALLY RISING PRICES
MAY ACCELERATE
THE ECONOMIC AND
POPULATION GROWTH
SEEN IN CITIES SUCH
AS KELOWNA AND
VICTORIA IN
RECENT YEARS
34 BCBUSINESS DECEMBER/JANUARY 2019
