What “Affordable Housing” Really Means
If you’ve been seeing ads around the North Shore for “affordable housing,” you’re not alone. I get regular messages asking if this means homes are being sold at a discount. Short answer: no. In B.C., “affordable housing” almost always refers to purpose-built rental, not ownership, and usually comes with income limits and other eligibility criteria.
Below is a quick explainer so you can sort the marketing from the fine print.
What “affordable housing” typically means in our area
- Purpose-built rental buildings: These are constructed to be rentals for the long term. Think new mid-rise rentals in Moodyville, Lions Gate Village, Park Royal, and around transit corridors.
- Income-tested eligibility: Rents may be set below market and reserved for households under certain income thresholds.
- Different rent types: You’ll hear terms like “rent-geared-to-income,” “below-market,” or “moderate income.” All are rental categories, not ownership.
- Long-term community goals: Cities use these programs to keep key workers and families housed near jobs, transit, and services.
What it does not mean
- Not a lower purchase price. Affordable housing programs are not a shortcut to buying a condo for less.
- Not a presale discount. Developers sometimes market “attainable” or “smaller-format” homes, but that’s different from regulated affordable rental.
Why the confusion happens
Ads and headlines use the word “affordable” a lot. For buyers, it’s easy to assume that translates to entry-level pricing. On the North Shore - where land is scarce, construction costs are high, and demand is steady - most “affordable” supply being added is rental, not ownership.
If you’re trying to buy on the North Shore, here are real paths forward
- Broaden your micro-location. Compare Lower Lonsdale vs. Central Lonsdale vs. Lynn Valley; look at age of building and strata size. A 1990s wood-frame walk-up can be far more attainable than a newer concrete tower.
- Target efficient floor plans. Well-planned 1-bedrooms (or large studios) often deliver better value per dollar than 1+dens with wasted hallway space.
- Shop presales strategically. Squamish presales sometimes offer earlier price points or incentives compared to North Vancouver and West Vancouver product. Fit and finish differ, and so does commute time, so weigh lifestyle trade-offs.
- Get airtight on total carrying costs. Strata fees, property taxes, insurance, and utilities matter as much as the sticker price. A slightly higher purchase with lower monthly costs can be the smarter move.
- Use your financial toolkit. Speak with a mortgage pro about maximizing pre-approval, rate options, down payment structure, and applicable buyer programs. Rules change; get current advice.
Quick glossary to decode marketing language
- Affordable housing: Almost always regulated rental with income limits.
- Below-market rental: Rents set below typical market levels; may require income verification.
- Rent-geared-to-income: Your rent is capped as a percentage of your household income.
- Attainable housing (marketing term): Often means smaller homes or value-engineered finishes. Not a regulated program.
- Workforce housing (contextual term): Usually refers to rentals intended for middle-income earners near job centers.
Local context
The North Shore has leaned into rental supply through town centre and transit-oriented planning. You’ll see more purpose-built rentals in places like Moodyville, Lions Gate Village, and along Marine Drive because that’s where zoning, transit, and amenities line up. Ownership supply is still growing, just not under the “affordable housing” banner.
If you’re hearing mixed messages and want a straight read on options that fit your budget and lifestyle, I’m here to help. We can map your price band against real, live listings in North Vancouver, West Vancouver, and select presales in Squamish, then build a plan that gets you the keys.
About the Author Matt Council is a North Vancouver Realtor® who believes the best decisions are made with clear data, not just good vibes. He combines deep local knowledge with a "risk-first" approach to help clients feel confident in their next move.
To see the real numbers behind the market, visit his full library of "unfiltered" charts and reports on his dedicated platform for North Shore Market Analysis.