BC Rental Housing Survey

The proposed development at Richards and Drake will consist of:

• Market rate rental units, and
• Social housing rental units based on household income eligibility.

For the units available at market rental rates, the monthly rent for the units are as follows:

• Studio of ~350 sq. ft. (for rent at $1800-$2000 per month)
• 1 bedroom of ~525 sq. ft. (for rent at $1800-$2500 per month)
• 2 bedroom of ~725 sq. ft. (for rent at $2800-$3500 per month)
• 3 bedroom of ~925 sq. ft. (for rent at $3500-$4300 per month)

For the social housing rental units (available based on household income eligibility), the monthly rent for the units are as follows:

• Studio of ~350 sq. ft. (for rent at $975-$1375 per month)
• 1 bedroom of ~525 sq. ft. (for rent at $975-$1675 per month)
• 2 bedroom of ~725 sq. ft. (for rent at $1425-$2550 per month)
• 3 bedroom of ~925 sq. ft. (for rent at $1700-$3300 per month)

For 2019, the household income eligibility thresholds for social housing in Vancouver were:

• Under $51,500 for Studio / 1 bedroom unit;
• Under $63,000 for 2 bedroom unit;
• Under $73,500 for 3 bedroom unit;