Can I Afford a Home in Vancouver With a $100K Salary?

If you’re earning $100,000 a year in Vancouver, you’ve probably asked yourself: “Can I actually afford a home here?” It’s a common—and valid—question given that Vancouver consistently ranks as one of the most unaffordable housing markets in the world.

But let’s dig past the headlines. With the right planning, some trade-offs, and the latest numbers, you may be surprised what’s still possible.

First, What Does $100K in Vancouver Really Mean?

Let’s assume:

• You earn $100,000 before taxes.
  
• That leaves you with approximately $72,000 net annually, or $6,000 per month after tax (based on 2025 BC tax rates and no dependents).
  
• Mortgage brokers generally recommend no more than 32% of gross income toward housing—meaning around $2,667 per month for mortgage + taxes + heating.
  

That budget gives you a foundation to work with—but let’s explore what kind of home that actually buys in today’s market.

Vancouver Home Prices in 2025 (Latest Data)

Home Type	Average Price (Vancouver City, 2025)
Detached Home	$1.95 million
Townhouse	$1.15 million
1-Bedroom Condo	$720,000
Studio Condo	$585,000
Burnaby 1-Bed Condo	$610,000

Source: Greater Vancouver Real Estate Board, June 2025 MLS Stats.

So unless you’ve got a massive down payment, detached homes are likely out of the picture. But condos? That’s where the real discussion begins.

How Much Can You Afford with $100K?

Using a standard CMHC calculator with:

• $100K salary
  
• 5–10% down payment
  
• 5-year fixed mortgage at ~5%
  
• 25-year amortization
  
• No other major debts
  

You can likely qualify for a mortgage between $450,000–$500,000. Add a 5–10% down payment of $30K–$50K and your total home budget could land around $520,000–$550,000.

That gets you in the range for:

• Studios and micro-units in East Vancouver, Mount Pleasant, or the West End
  
• 1-bedroom condos in Burnaby, New Westminster, or Surrey
  
• Pre-sale opportunities in up-and-coming areas with 5–10% down and staggered payments
  

Run your own numbers using our simple mortgage affordability calculator.

What If You Have Debt?

If you’re carrying:

• Student loans ($300/month)
  
• Car loan ($400/month)
  
• Credit card balances
  

That reduces your max approval range by up to $75,000 in home value. Lenders calculate your Total Debt Service Ratio (TDSR), which must stay under 42% for most insured mortgages. So clearing debt or increasing your down payment becomes crucial.

Real Buyer Scenarios (2025)

“Single Professional, 29, Looking in Mount Pleasant”

• Income: $100K/year
  
• Down Payment: $60,000
  
• Approved Mortgage: $480,000
  
• Budget: ~$540,000
  
• Options: Studio condo on Main Street or Fraser, resale walk-up in Marpole
  

“I ended up buying a studio in a 2010 building with low strata fees. It’s small but the location is amazing—and I was tired of waiting.” — Buyer testimonial via local brokerage

“Couple with Combined $200K Income”

• Joint Budget: ~$1.1M
  
• Looking for: 2-bed, 2-bath condo or townhome in Vancouver East
  
• Options: Mount Pleasant, Hastings-Sunrise, or newer builds near Joyce-Collingwood SkyTrain
  

Even in one of the world’s most expensive cities, pooling income opens significantly more doors. Shared ownership with a partner or family member is one of the most effective ways to enter the market here.

Key Programs to Help You Buy

✅ First-Time Home Buyers’ Program (BC)

• Property Transfer Tax (PTT) exemption up to $835,000 (2025 threshold)
  
• Savings of up to $13,000 in tax
  

Learn about PTT exemptions

✅ RRSP Home Buyers’ Plan (HBP)

• Withdraw up to $60,000 tax-free from RRSPs (increased from $35K)
  
• Must repay over 15 years
  

✅ First Home Savings Account (FHSA)

• Save $8,000/year up to $40,000
  
• Combines RRSP and TFSA benefits
  

Other Costs to Consider

Don’t forget to budget for:

• Strata fees ($250–$450/month)
  
• Property taxes (~$1,500–$2,200/year for condos)
  
• Home insurance
  
• CMHC mortgage insurance (if under 20% down)
  

What the Experts Say

“With $100,000 in income, buyers need to be flexible on location and property type—but ownership is still achievable, especially with government rebates.”
— Sarah L., Mortgage Broker, Dominion Lending

“Pre-sales and studio condos are where we’re seeing first-time buyers succeed. Many clients enter the market solo and then trade up in 3–5 years.”
— Mark C., Realtor®, Vancouver West

So, Can You Buy a Home in Vancouver on $100K?

Yes, but here’s the honest breakdown:

Option	Feasibility
Detached Home	❌ Out of reach solo, unless inheritance or large down payment
1-Bed Condo (Downtown)	⚠️ Likely not unless heavy down payment or co-buying
Studio Condo (East Van)	✅ Realistic if $40K–$60K saved up
1-Bed Condo (Burnaby/NW)	✅ Very achievable solo buyer
Townhome or 2-Bedroom	✅ Possible with dual incomes or family help

Final Thoughts

A $100,000 income doesn’t mean you’re locked out of Vancouver real estate—but you’ll need to:

• Recalibrate expectations
  
• Start small (e.g., studio or 1-bedroom)
  
• Explore up-and-coming areas
  
• Use every program available
  

Vancouver Home Hub helps you break down the numbers and find real homes that match your life goals—not just your salary.

Read more:

The Rise of Co-Living Spaces in Vancouver: Pros and Cons

The Role of Technology in Vancouver Real Estate: Virtual Tours and Smart Homes

Do You Really Need a Realtor to Buy a Home in Vancouver?

How Foreign Buyer Tax and Speculation Tax Affect Vancouver Real Estate

Renting vs Buying in Vancouver: Which Is Better in 2025?