Property Prices in Nanaimo, BC, Canada

Index Info
Price to Income Ratio: 6.91
Mortgage as Percentange of Income: 50.43%
Loan Affordability Index: 1.98
Price to Rent Ratio - City Centre: 15.26
Price to Rent Ratio - Outside of Centre: 16.47
Gross Rental Yield (City Centre): 6.55%
Gross Rental Yield (Outside of Centre): 6.07%
Rent Per Month [ Edit ] Range
Apartment (1 bedroom) in City Centre 1,085.00 C$ 900.00-1,200.00
Apartment (1 bedroom) Outside of Centre 937.50 C$ 800.00-1,100.00
Apartment (3 bedrooms) in City Centre 1,782.35 C$ 1,500.00-2,400.00
Apartment (3 bedrooms) Outside of Centre 1,532.14 C$ 1,250.00-1,800.00
Buy Apartment Price [ Edit ]
Price per Square Feet to Buy Apartment in City Centre 322.50 C$ 250.00-400.00
Price per Square Feet to Buy Apartment Outside of Centre 300.00 C$ 300.00-300.00
Salaries And Financing [ Edit ]
Average Monthly Net Salary (After Tax) 2,423.00 C$
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 4.04 3.68-5.00

These data are based on 91 entries in the past 18 months from 20 different contributors.
Last update: December 2019

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1 Comments so far

#Anonymous on Aug 16, 2017 :
The rental princes of apartments and townhouses and main floors of houses in Nanaimo in 2017 are what Vancouver's was about
10 years ago. Now thanks to rental-refugees coming over from Vancouver to Nanaimo to live in search of 'affordable' housing, Nanaimo
is becoming too expensive for average wage earners to have much of a life beyond paying the rent and basics. Also because 30 somethings
are all having children this also puts additional pressure on Nanaimo's limited 2 and 3 bedroom apartment choices. Seniors generally move to
Nanaimo after selling a house in Ontario, the Prairies, or Vancouver & they live off the difference between what they sold for elsewhere and
Nanaimo's prices. Victoria is all but unaffordable for average workers now so there is an additional migration north to Nanaimo because of
that. The truly poor in Nanaimo end up moving to Cedar (a suburb) or Duncan BC, or up to Courtenay. Nanaimo's infrastructure is straining
at the seams because of all the steady growth. Roads are really loaded up with cars compared with 10 years ago.
Shopping is good in Nanaimo, the downtown and Hammond Bay road areas have scenic ocean views, but the crime remains an issue.
Far too many gangs and thugs and druggies all over Nanaimo -- steady vandalism goes on. If you are moving to Nanaimo to find a 'nice' place
that could be possible in North Nanaimo (ie. expensive) but otherwise income-rates and crime-rates, and types of rental housing available closely match that of Surrey BC and that is no compliment.