Housing Programs and Strategies

Approved in March 2018, the City of Richmond Affordable Housing Strategy guides the City’s involvement in addressing the affordable housing needs of Richmond residents. The Strategy identifies a range of priority groups that are shown to be at risk of not finding appropriate and affordable housing. Priority groups include families, Indigenous peoples, low- and moderate-income earners, persons with disabilities and vulnerable populations including people experiencing homelessness, women and children escaping violence and individuals with mental health or addiction issues.

To support the development of the Strategy, the City prepared two companion documents:

• Richmond Housing Affordability Profile
  A data-driven snapshot of local housing trends, affordability challenges and community needs.
  
• Policy Recommendations to Inform Strategy
  A summary of key policy options and approaches reviewed during the strategy's development.

Together, these documents provide the foundation for the City’s ongoing work to increase and protect affordable housing across Richmond.

What is Affordable Rental Housing?
Affordable rental housing is rental housing that is offered at below average market rents and is ideally priced at no more than 30% of a household’s gross income.

In Richmond, affordable rental housing includes:

• Low-End Market Rental (LEMR) homes secured through new development
  
• Non-profit and co-operative housing
• Subsidized and supportive housing managed by government or non-profit organizations 

The City of Richmond monitors housing trends to better understand and respond to the community's changing needs. 

On December 18, 2024, Council received the Interim Housing Needs Report as per the requirements of Bill 44 Housing Statutes (Residential Development) Amendment Act.

This report provides estimates of housing needs over the next 5 and 20 years, based on a provincial methodology that considers:

• Households in extreme core housing need
  
• Housing needs for people experiencing homelessness
  
• Suppressed household formation
  
• Anticipated population growth
  
• Low rental vacancy rates
  
• The need for a buffer to meet changing demand

This interim report will help guide housing policy and development decisions in the near term. A more comprehensive Housing Needs Report will be completed before December 31, 2028.

For more information regarding the Interim Housing Needs Report please read the Report to Open General Purposes Committee Meeting, presented on December 16, 2024.

In 2007, the City launched the Low-End Market Rental (LEMR) housing program, which has achieved significant success by securing more than 1,000 new affordable housing units for low- and moderate-income households in Richmond. These homes are recognized in the City’s Affordable Housing Guide. 

The City can require that a portion of the homes in residential or mixed-use developments be set aside with rents held at below-market rates. These LEMR units are secured through legal agreements, called housing agreements, that are registered on the property title. Eligibility for LEMR homes is largely based on a tenant’s gross (before-tax) household income and assets. 

The City engages the operators of LEMR homes in a statutory declaration process which requires that LEMR tenants confirm their gross household income and that the owner / operator is following the housing agreement. The process ensures that LEMR homes continue to be made available to low and moderate-income households.

The City does not own or operate LEMR units, but it works closely with developers and non-profit housing providers to make sure the program works as intended.

Read Bulletin Info-60 Low End Market Rental Program Requirements to learn more about eligibility, rent levels, and how units are managed.

Updates to the LEMR Program
The City regularly reviews and updates the LEMR Program to respond to changing market conditions and housing needs in the community. These updates help ensure the program remains financially sustainable, supports those most in need, and continues to deliver affordable housing over the long term.

To learn more about recent enhancements to the LEMR Program, see the reports below:

• Updating the LEMR Program to Support the Delivery of Affordable Housing
  
• Enhancing Access to Affordable Housing through LEMR Management Changes
  
• Referral Response: Establishment of the Low-End Market Rental parking, Tenant Asset and Income Exceedance Policy
  

In 2024, the City of Richmond received $8.9 million from the Canada Mortgage and Housing Corporation’s Housing Accelerator Fund (HAF), followed by an additional $8.9 million in 2025. The HAF program aims to help build more homes, faster. HAF funding supports local efforts to remove development barriers, streamline approvals, and ultimately increase the supply of housing—especially rental and affordable homes that meet the diverse needs of Richmond’s growing population.

As part of the City’s HAF funding commitment, the following eight key initiatives are being advanced:

• Fast-Tracking Rental Housing: Expedited review for 100% rental and non-market housing projects.
  
• Housing Priorities Grant Program: Grant funding to support the delivery of affordable housing.
  
• Affordable Housing Non-Profit Partnership Program: Support for non-profit housing providers to grow their capacity to build and manage housing projects.
• Zoning for Rental Density: Examining the rental zoning overlay for the Spires Road Area to assess the possibility of implementing rental overlays in additional neighborhoods to encourage more rental housing.
• Parking Reform: Exploring reduced parking requirements to unlock land for housing and support sustainable transportation.
• Official Community Plan Review: Reviewing land use policy and exploring pre-zoning to enable more affordable and “missing middle” housing.
• Permitting System Upgrades: Launch of the MyPermit online portal to streamline development and building applications.
• Automated Plan Review: Development of AI-powered tools to speed up building permit approvals.

These initiatives will help Richmond meet its housing targets while improving how homes are planned, approved, and delivered.