What is affordability measuring, and why is it a better indicator of housing affordability than housing cost alone?
Affordability in this context measures both the housing cost and median income of household within their own Dissemination Area (DA) boundaries. Mapping out housing affordability gives a better indication of the cost of living and if an individual or household can manage to own a property in one of these cities.
If an individual or household are looking into moving in either Montreal or Vancouver, it would be helpful to know if living in either of these places are doable or if they will be able to afford to own a property, which in this scenario, Montreal might be much more affordable than owning a home in Vancouver.
So, is affordability a good indicator of 'livability'?
Being able to live in one's financial budget is very important to indicate a city's livability but the term 'livability' can be arguable. Many Millenials (the 1980-1999 generation) are living in Vancouver city without a good savings plan because of how expensive rent, utilities, internet, and groceries are. But due to this effect, the city acknowledges that many of its residents are public transit commuters so public transportation in the city are efficient and easy to navigate. Other than the fact that Vancouver is increasingly turning into a 'Green City' with less dependency on personal automobiles. Moreover, there are many local marketplaces within walking distance so you do not need to jump in a car to get your weekly groceries like in most Canadian cities. Vancouver has the perfect proximity to the mountains and the ocean so there are many activities to do in both winter and summer without spending too much money on the journey going to these key tourist areas. Overall, 'livability' can be subjective, depending on what the individual cares about the most.
Notable map error in 'Vancouver Affordability' map: The "affordable" (blue) area as seen on the centre-leftmost side of Vancouver, located just below of UBC grounds may indicate "affordable" because there are little to no houses in this area. This is where Point Grey golf & country club is located.