{
  "id": "mortgage-share-of-income",
  "category": "Housing",
  "title": "Mortgage payment as a share of a typical family's income",
  "geography": "Victoria census metropolitan area (Greater Victoria)",
  "scope": "region",
  "levels": [
    "Market (home prices)",
    "Federal (interest rates, mortgage rules)",
    "Municipal and Provincial housing policy"
  ],
  "plain_question": "If a typical family bought a typical home today, what share of their after-tax income would go to the mortgage?",
  "value": 45.2,
  "display_value": "45%",
  "unit": "of median after-tax family income (all home types)",
  "period": "Q2 2026 (April to June 2026)",
  "period_start": "2026-04-01",
  "period_end": "2026-06-28",
  "comparison": {
    "previous_period": "Q2 2025",
    "previous_value": 47.7,
    "change_percent": -2.5,
    "change_unit": "percentage points"
  },
  "trend": "improving",
  "trend_basis": "45.2% in Q2 2026 compared with 47.7% in Q2 2025 (same quarter a year earlier).",
  "direction_good": "down",
  "right_direction": "A lower number means buying a home takes a smaller share of a typical family's income, so it is more affordable.",
  "caveats": [
    "This is a model of a new buyer, not what current owners pay. BC Stats assumes a family earning the median after-tax family income (about $116,299 a year in Q2 2026) buys a home at the median sale price (about $851,170), with a 25-year variable-rate mortgage at the prime rate.",
    "Down payment: BC Stats' figures assume the buyer makes the minimum down payment allowed and borrows the rest over 25 years at the prime rate. BC Stats' technical note (May 2026) describes the minimum down payment in its approach and formula, but one section says zero down payment; recalculating the published figures shows they follow the minimum down payment (earlier versions of this site said “no down payment”, which was wrong). Buyers with larger down payments would pay less. Use it to follow the trend over time, not as an exact payment.",
    "Recent income figures are estimates that BC Stats revises as Statistics Canada releases new data, and home prices come from BC Assessment sales records, smoothed over three months. Small quarter-to-quarter changes can be revised.",
    "Covers all home types together (detached houses, townhouses and condos). The mix of homes sold can shift the median price.",
    "The area is the Victoria census metropolitan area (Greater Victoria), which is larger than the City of Victoria.",
    "The chart shows every year in BC Stats' file, from 2000. BC Stats' technical note describes the measure as built to be comparable over time; mortgage rules and lending conditions in the early years were different, which the model does not capture."
  ],
  "series": [
    {
      "period": "Q2 2000",
      "value": 38.3
    },
    {
      "period": "Q2 2001",
      "value": 34.3
    },
    {
      "period": "Q2 2002",
      "value": 26.9
    },
    {
      "period": "Q2 2003",
      "value": 31.4
    },
    {
      "period": "Q2 2004",
      "value": 31.3
    },
    {
      "period": "Q2 2005",
      "value": 36.6
    },
    {
      "period": "Q2 2006",
      "value": 44.7
    },
    {
      "period": "Q2 2007",
      "value": 48.6
    },
    {
      "period": "Q2 2008",
      "value": 44.7
    },
    {
      "period": "Q2 2009",
      "value": 30.5
    },
    {
      "period": "Q2 2010",
      "value": 34.8
    },
    {
      "period": "Q2 2011",
      "value": 35.9
    },
    {
      "period": "Q2 2012",
      "value": 33.8
    },
    {
      "period": "Q2 2013",
      "value": 32.3
    },
    {
      "period": "Q2 2014",
      "value": 31.4
    },
    {
      "period": "Q2 2015",
      "value": 31.2
    },
    {
      "period": "Q2 2016",
      "value": 32.6
    },
    {
      "period": "Q2 2017",
      "value": 33.9
    },
    {
      "period": "Q2 2018",
      "value": 39.5
    },
    {
      "period": "Q2 2019",
      "value": 41.1
    },
    {
      "period": "Q2 2020",
      "value": 35.5
    },
    {
      "period": "Q2 2021",
      "value": 37.4
    },
    {
      "period": "Q2 2022",
      "value": 48.2
    },
    {
      "period": "Q2 2023",
      "value": 60.3
    },
    {
      "period": "Q2 2024",
      "value": 57.9
    },
    {
      "period": "Q2 2025",
      "value": 47.7
    },
    {
      "period": "Q2 2026",
      "value": 45.2
    }
  ],
  "series_note": "Same quarter (Q2) each year",
  "breakdown_title": "By home type, Q2 2026",
  "breakdown": [
    {
      "label": "Detached houses",
      "display_value": "62.4% of income",
      "period": "Q2 2026",
      "detail": "BC Stats row “Detached Homes”. 67.9% in Q2 2025."
    },
    {
      "label": "Townhouses",
      "display_value": "42.6% of income",
      "period": "Q2 2026",
      "detail": "BC Stats row “Townhouses”. 46.9% in Q2 2025."
    },
    {
      "label": "Condos",
      "display_value": "29.5% of income",
      "period": "Q2 2026",
      "detail": "BC Stats row “Condos”. 32.0% in Q2 2025."
    }
  ],
  "charts": [
    {
      "title": "Mortgage payment as a share of income, by home type (Q2 each year)",
      "fmt": "dec1",
      "unit": "% of income",
      "lines": [
        {
          "name": "All home types",
          "area": "cma",
          "series": [
            {
              "period": "Q2 2000",
              "value": 38.3
            },
            {
              "period": "Q2 2001",
              "value": 34.3
            },
            {
              "period": "Q2 2002",
              "value": 26.9
            },
            {
              "period": "Q2 2003",
              "value": 31.4
            },
            {
              "period": "Q2 2004",
              "value": 31.3
            },
            {
              "period": "Q2 2005",
              "value": 36.6
            },
            {
              "period": "Q2 2006",
              "value": 44.7
            },
            {
              "period": "Q2 2007",
              "value": 48.6
            },
            {
              "period": "Q2 2008",
              "value": 44.7
            },
            {
              "period": "Q2 2009",
              "value": 30.5
            },
            {
              "period": "Q2 2010",
              "value": 34.8
            },
            {
              "period": "Q2 2011",
              "value": 35.9
            },
            {
              "period": "Q2 2012",
              "value": 33.8
            },
            {
              "period": "Q2 2013",
              "value": 32.3
            },
            {
              "period": "Q2 2014",
              "value": 31.4
            },
            {
              "period": "Q2 2015",
              "value": 31.2
            },
            {
              "period": "Q2 2016",
              "value": 32.6
            },
            {
              "period": "Q2 2017",
              "value": 33.9
            },
            {
              "period": "Q2 2018",
              "value": 39.5
            },
            {
              "period": "Q2 2019",
              "value": 41.1
            },
            {
              "period": "Q2 2020",
              "value": 35.5
            },
            {
              "period": "Q2 2021",
              "value": 37.4
            },
            {
              "period": "Q2 2022",
              "value": 48.2
            },
            {
              "period": "Q2 2023",
              "value": 60.3
            },
            {
              "period": "Q2 2024",
              "value": 57.9
            },
            {
              "period": "Q2 2025",
              "value": 47.7
            },
            {
              "period": "Q2 2026",
              "value": 45.2
            }
          ]
        },
        {
          "name": "Detached houses",
          "area": "cma",
          "series": [
            {
              "period": "Q2 2000",
              "value": 41.2
            },
            {
              "period": "Q2 2001",
              "value": 36.7
            },
            {
              "period": "Q2 2002",
              "value": 29.2
            },
            {
              "period": "Q2 2003",
              "value": 34.5
            },
            {
              "period": "Q2 2004",
              "value": 35.1
            },
            {
              "period": "Q2 2005",
              "value": 41.2
            },
            {
              "period": "Q2 2006",
              "value": 52.5
            },
            {
              "period": "Q2 2007",
              "value": 56.0
            },
            {
              "period": "Q2 2008",
              "value": 52.4
            },
            {
              "period": "Q2 2009",
              "value": 37.3
            },
            {
              "period": "Q2 2010",
              "value": 41.0
            },
            {
              "period": "Q2 2011",
              "value": 43.6
            },
            {
              "period": "Q2 2012",
              "value": 41.4
            },
            {
              "period": "Q2 2013",
              "value": 37.9
            },
            {
              "period": "Q2 2014",
              "value": 38.1
            },
            {
              "period": "Q2 2015",
              "value": 37.7
            },
            {
              "period": "Q2 2016",
              "value": 40.7
            },
            {
              "period": "Q2 2017",
              "value": 46.1
            },
            {
              "period": "Q2 2018",
              "value": 52.4
            },
            {
              "period": "Q2 2019",
              "value": 52.5
            },
            {
              "period": "Q2 2020",
              "value": 44.8
            },
            {
              "period": "Q2 2021",
              "value": 51.4
            },
            {
              "period": "Q2 2022",
              "value": 69.8
            },
            {
              "period": "Q2 2023",
              "value": 85.8
            },
            {
              "period": "Q2 2024",
              "value": 83.9
            },
            {
              "period": "Q2 2025",
              "value": 67.9
            },
            {
              "period": "Q2 2026",
              "value": 62.4
            }
          ]
        },
        {
          "name": "Townhouses",
          "area": "cma",
          "series": [
            {
              "period": "Q2 2000",
              "value": 32.3
            },
            {
              "period": "Q2 2001",
              "value": 28.3
            },
            {
              "period": "Q2 2002",
              "value": 21.2
            },
            {
              "period": "Q2 2003",
              "value": 28.0
            },
            {
              "period": "Q2 2004",
              "value": 28.0
            },
            {
              "period": "Q2 2005",
              "value": 35.0
            },
            {
              "period": "Q2 2006",
              "value": 41.0
            },
            {
              "period": "Q2 2007",
              "value": 42.6
            },
            {
              "period": "Q2 2008",
              "value": 40.9
            },
            {
              "period": "Q2 2009",
              "value": 27.7
            },
            {
              "period": "Q2 2010",
              "value": 30.6
            },
            {
              "period": "Q2 2011",
              "value": 33.1
            },
            {
              "period": "Q2 2012",
              "value": 29.3
            },
            {
              "period": "Q2 2013",
              "value": 28.5
            },
            {
              "period": "Q2 2014",
              "value": 28.8
            },
            {
              "period": "Q2 2015",
              "value": 27.3
            },
            {
              "period": "Q2 2016",
              "value": 28.2
            },
            {
              "period": "Q2 2017",
              "value": 30.3
            },
            {
              "period": "Q2 2018",
              "value": 35.5
            },
            {
              "period": "Q2 2019",
              "value": 38.3
            },
            {
              "period": "Q2 2020",
              "value": 32.3
            },
            {
              "period": "Q2 2021",
              "value": 34.2
            },
            {
              "period": "Q2 2022",
              "value": 44.8
            },
            {
              "period": "Q2 2023",
              "value": 57.6
            },
            {
              "period": "Q2 2024",
              "value": 56.7
            },
            {
              "period": "Q2 2025",
              "value": 46.9
            },
            {
              "period": "Q2 2026",
              "value": 42.6
            }
          ]
        },
        {
          "name": "Condos",
          "area": "cma",
          "series": [
            {
              "period": "Q2 2000",
              "value": 22.9
            },
            {
              "period": "Q2 2001",
              "value": 20.5
            },
            {
              "period": "Q2 2002",
              "value": 15.8
            },
            {
              "period": "Q2 2003",
              "value": 18.0
            },
            {
              "period": "Q2 2004",
              "value": 18.1
            },
            {
              "period": "Q2 2005",
              "value": 22.3
            },
            {
              "period": "Q2 2006",
              "value": 28.3
            },
            {
              "period": "Q2 2007",
              "value": 33.6
            },
            {
              "period": "Q2 2008",
              "value": 30.3
            },
            {
              "period": "Q2 2009",
              "value": 21.6
            },
            {
              "period": "Q2 2010",
              "value": 22.2
            },
            {
              "period": "Q2 2011",
              "value": 22.5
            },
            {
              "period": "Q2 2012",
              "value": 21.3
            },
            {
              "period": "Q2 2013",
              "value": 20.0
            },
            {
              "period": "Q2 2014",
              "value": 19.9
            },
            {
              "period": "Q2 2015",
              "value": 19.8
            },
            {
              "period": "Q2 2016",
              "value": 19.8
            },
            {
              "period": "Q2 2017",
              "value": 22.6
            },
            {
              "period": "Q2 2018",
              "value": 27.0
            },
            {
              "period": "Q2 2019",
              "value": 27.8
            },
            {
              "period": "Q2 2020",
              "value": 24.4
            },
            {
              "period": "Q2 2021",
              "value": 24.5
            },
            {
              "period": "Q2 2022",
              "value": 33.8
            },
            {
              "period": "Q2 2023",
              "value": 41.0
            },
            {
              "period": "Q2 2024",
              "value": 40.3
            },
            {
              "period": "Q2 2025",
              "value": 32.0
            },
            {
              "period": "Q2 2026",
              "value": 29.5
            }
          ]
        }
      ]
    }
  ],
  "source": {
    "name": "BC Stats, Government of British Columbia (B.C. Housing Affordability: Mortgage Payment as a Percent of Income)",
    "url": "https://catalogue.data.gov.bc.ca/dataset/aeb68042-2d0a-4c55-8c09-2c700b74a812/resource/a71e6838-cda1-4acb-adfb-8515c4f9fec9/download/bc-data-catalogue-cma.csv",
    "dataset_url": "https://catalogue.data.gov.bc.ca/dataset/b-c-housing-affordability",
    "download_url": "https://catalogue.data.gov.bc.ca/dataset/aeb68042-2d0a-4c55-8c09-2c700b74a812/resource/a71e6838-cda1-4acb-adfb-8515c4f9fec9/download/bc-data-catalogue-cma.csv",
    "publisher_page": "https://www2.gov.bc.ca/gov/content/data/statistics/economy/housing-building-permits",
    "locator": "BC Stats affordability file (CSV): Victoria CMA rows, Q2 2026"
  },
  "licence": {
    "name": "Open Government Licence - British Columbia",
    "url": "https://www2.gov.bc.ca/gov/content?id=A519A56BC2BF44E4A008B33FCF527F61"
  },
  "refresh_frequency": "Quarterly",
  "data_published": "2026-08-20",
  "retrieved_at": "2026-11-12T03:28:36Z",
  "attribution": "Contains information licensed under the Open Government Licence - British Columbia.",
  "licence_type": "open",
  "source_tier": 1,
  "measure_kind": "outcome",
  "better_measure": null,
  "status_rule": {
    "rule": "One rule for every measure: a change smaller than 5% of the earlier value, or smaller than the agency's own margin of error, is “About the same”; no change is calculated across a marked break in a series; homelessness estimates, prices, staffing and comparison pages are shown for context without a label.",
    "reason": "The change is 5.2% of the earlier value, at or above the 5% threshold.",
    "threshold_percent": 5.0
  },
  "changes": {
    "year": {
      "period": "Q2 2025",
      "value": 47.7,
      "text": "vs Q2 2025: -2.5 points"
    },
    "five_year": {
      "period": "Q2 2021",
      "years": 5,
      "value": 37.4,
      "comparable": true,
      "text": "vs Q2 2021: +7.8 pt"
    }
  },
  "direction": {
    "type": "outcome",
    "rule": "Outcome measures read Better, Worse or About the same; published government targets read Ahead of, On or Behind target; value-judgement measures read Rising, Falling or Steady in a neutral colour. A change smaller than the agency's own margin of error, or otherwise smaller than 5% of the earlier value, is About the same (or Steady). No change is calculated across a marked break in a series.",
    "key": "better",
    "label": "Better",
    "arrow": "▼",
    "rel": -5.2410901467505235,
    "delta": -2.5,
    "vs": "Q2 2025",
    "cur": "Q2 2026 (April to June 2026)",
    "why": "The change is 5.2% of the earlier value, at or above the 5% threshold.",
    "change": "2.5 pt",
    "one_year": "−2.5 pt",
    "five": {
      "period": "Q2 2021",
      "comparable": true,
      "delta": 7.800000000000004,
      "text": "+7.8 pt",
      "years": 5
    }
  },
  "benchmark": {
    "rung": 5,
    "rung_name": "No target found",
    "as_of": "2026-11-12",
    "items": [
      {
        "kind": "none",
        "label": "No target found",
        "text": "No target for mortgage costs, or for the cost of owning a home as a share of income, found in the Ministry of Housing and Municipal Affairs 2026/27 to 2028/29 Service Plan (February 2026), as of November 12, 2026. Who could set one: the Province of B.C. or the Government of Canada.",
        "area": "Greater Victoria",
        "source": {
          "title": "Ministry of Housing and Municipal Affairs 2026/27 to 2028/29 Service Plan",
          "publisher": "Province of B.C.",
          "date": "February 2026",
          "url": "https://www.bcbudget.gov.bc.ca/2026/sp/pdf/ministry/hous.pdf",
          "terms": "https://www2.gov.bc.ca/gov/content/home/copyright",
          "refresh": "Yearly, with the provincial budget (February)",
          "licence": "Public document, not under an open licence. Quoted with attribution.",
          "checked": "2026-11-12",
          "key": "hous_sp"
        },
        "documents_checked": null
      }
    ],
    "drawn": [],
    "rule": "Highest rung found is shown; the site never sets a target. Methods, Targets."
  },
  "benchmarks": [],
  "highest_rung": 5,
  "no_target_found": {
    "documents_checked": [
      "hous_sp"
    ],
    "checked_on": "2026-11-12",
    "who_could_set": [
      "The Province of B.C. or the Government of Canada"
    ]
  },
  "decided_by": [
    {
      "body": "BOC",
      "name": "Bank of Canada",
      "decides": "Sets and publishes the minimum rate at which it lends, as part of its job to regulate credit and currency.",
      "laws": [
        {
          "key": "boc21",
          "label": "Bank of Canada Act, s. 21",
          "url": "https://laws-lois.justice.gc.ca/eng/acts/B-2/FullText.html"
        },
        {
          "key": "boc",
          "label": "Bank of Canada Act, preamble",
          "url": "https://laws-lois.justice.gc.ca/eng/acts/B-2/FullText.html"
        }
      ],
      "last": {
        "text": "Rate set at 2.50% on October 28, 2026",
        "label": "Rate set at 2.50% on October 28, 2026",
        "url": "https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/"
      },
      "next": {
        "text": "Next scheduled announcement December 9, 2026",
        "label": "Next scheduled announcement December 9, 2026",
        "url": "https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/"
      }
    },
    {
      "body": "CAN",
      "name": "Government of Canada and Parliament",
      "decides": "Sets the rules for government-backed mortgage insurance, such as the longest amortization.",
      "laws": [
        {
          "key": "eml",
          "label": "Eligible Mortgage Loan Regulations (SOR/2012-281)",
          "url": "https://laws-lois.justice.gc.ca/eng/regulations/SOR-2012-281/FullText.html"
        }
      ],
      "last": null,
      "next": null
    },
    {
      "body": "MUN",
      "name": "Municipal councils of Greater Victoria (13)",
      "decides": "Each council decides zoning and approves new housing in its own area.",
      "laws": [
        {
          "key": "lga479",
          "label": "Local Government Act, s. 479",
          "url": "https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/r15001_14#section479"
        }
      ],
      "last": null,
      "next": null
    }
  ],
  "main_decision_maker": "Bank of Canada",
  "label_1y": {
    "key": "better",
    "label": "Better"
  },
  "label_long": {
    "key": "worse",
    "label": "Worse",
    "years": 5,
    "change": "+7.8 pt"
  },
  "target_line": {
    "form": 4,
    "text": "No target found",
    "target": null,
    "gap": null,
    "comparison": null,
    "applies_here": false,
    "note": null
  }
}