Richmond Centre is the least affordable riding in B.C.
According to a report released this morning by the Canadian Rental Housing Index (RHI), which charts rental housing affordability in federal electoral districts across Canada, Richmond Centre and Vancouver Quadra top the list of the 10 most unaffordable ridings in the province.
Richmond Centre also ranks high on the list of the least affordable ridings in Canada.
In this riding, 51 per cent of residents spend over 30 per cent of their income on rent. On average in B.C., 43 per cent of renters spend more than 30 per cent of their monthly income on rent and utilities.
Another 30 per cent of Richmond Centre residents dole out more than half their salaries towards rent each month.
The average rent in this riding, according to the RHI, is $1,337 per month.
And while its not counted among the worst 10 ridings in B.C., Steveston-Richmond East isn’t much better, where the average monthly rent is $1,331.
The second of Richmond’s two ridings has an average of 43 per cent of renters spending more than a third of their income on rent and 24 per cent spending over 50 per cent.
Richmond also has one of the highest proportions of an under-30 population — 65 per cent — that spend over 30 per cent of their monthly income on rent and utilities.
14 per cent of both Richmond Centre and Steveston-Richmond East residents also live in overcrowded conditions, compared to 10 per cent of B.C. residents.
Housing is already a major issue for the upcoming Oct. 21 federal election.