In today’s economy in Canada and even in British Columbia it seems that the prices of almost everything is too high to be able to afford a comfortable lifestyle. However, some cities seem to have lower prices when it comes to things like housing.
For example, Northern British Columbia is known for its affordability compared to other cities like Vancouver and Toronto.
In 2013, it was estimated that Northern BC including cities such as Fort St. John was 29.4% compared to the rest of the province being 68.1% in value of owning a home.
However, compared to other communities in Northern BC Fort St. John is still one of the more expensive cities and is actually the highest when it comes to owning your own home.
It is estimated that the average cost of owning a single family home is $416,000 and this cost would be affordable if the income coming in to a household is $93,000.
The affordability not only includes the cost of the house but, also includes the mortgage, fees, taxes and utilities.
Fort St. Johns population was surveyed and an estimated 30% of the citizens can afford a single family home with their income.
Compared to other housing arrangements the single family home seems to be the most popular with regards to homeownership and the real estate market in Fort St. John. This may be because it is the less expensive way to own your own home.
Looking at a bigger picture, the housing in Fort St. John is relatively affordable and inexpensive compared to other cities in British Columbia where housing costs are relatively high.
Real estate prices and homes may see an increase soon as the Site C project starts moving along. This is because the Site C project will increase interest in the area as a resource to accommodate the 16,000 projected workers.
This is simply because real estate prices are based on what is happening now as a community and economically.
The Site C project may cause the prices in Fort St. John’s homes to increase but within a few years and after the completion of the Site C project the price will decrease again.
In general the cost of living in Fort St. John is low compared to other cities like Vancouver.