Residents of Metro Vancouver have a lower quality of life than British Columbians elsewhere and the high cost of housing is one of the likely reasons.
Those are the findings of a new report from Statistics Canada released Tuesday.
It found that respondents living in Vancouver were significantly less likely to report excellent or very good mental health than those living in the rest of British Columbia.
Whereas 48 per cent of all British Columbians reported having a high life satisfaction, that number dropped to 45.1 per cent for residents of Vancouver Census Metropolitan Area (CMA).
Residents of Vancouver (57.4 per cent) were also less likely than those living in the rest of British Columbia (58.9 per cent) to report always or often being hopeful about the future.
“One factor that may be associated with quality of life is financial strain,” it reads. “Shelter costs are the biggest share of almost every household budget and Canadians have been spending a larger share of their income on these costs.”
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In Vancouver, housing was significantly less affordable than the national average with 29.6 per cent spending over half their income on shelter costs and 13.3 per cent spending over half of their income.
Notably, quality of life varies with whether people own or rent. Canada-wide data shows that 48.5 per cent of homeowners reported having a strong or very strong sense of belonging to a local community, compared to the 40.7 per cent for renters. Homeowners also reported higher rates of excellent or very good mental health, life satisfaction and hopefulness about the future than renters.
They, in contrast, reported higher levels of loneliness and difficulties meeting financial needs. Whereas 22.5 per cent of surveyed homeowners found it difficult or very difficult to meet financial needs, 38.3 per cent of tenants reported such feelings.
These concerns may be especially strong among young Canadians. According to available data, youth aged 15 to 29 per were less satisfied and less hopeful about the future than in previous year and they were more likely to feel lonely than older Canadians.
Housing costs likely play a significant role in contributing to those feelings. Nearly two-thirds of Canadians aged 15 to 29 rented their home and they spent more of their income on shelter costs than did Canadians in the older age groups, according to Statistics Canada.
But it is also important to point out that many factors contribute to life quality.