About Affordable HousingHousing affordability continues to be a critical issue both regionally and at the local level. Although the mandate to provide affordable housing is the primary responsibility of senior governments, the City of Richmond has long acknowledged that providing a range of affordable and diverse housing types for residents is an integral part of creating a livable community.
Affordability is a relative term relating housing costs to household income. A common measurement, defined by Canada Mortgage and Housing Corporation (CMHC) is that housing should not cost more than 30% of a household’s before-tax income.
Affordability situation in Richmond:
Housing affordability remains a critical situation in Richmond and throughout Metro Vancouver. The City acknowledges that a mix of housing, with a variety of supports for a diverse population is essential in creating a liveable and inclusive community.
The City has had a proactive history in responding to local housing issues. Key elements of this response have been:
- Long range housing policy development
- Strategic review and planning on specific issues
- Designation of specific affordable housing sites within some of the City’s newer neighbourhoods
- An Affordable Housing Reserve Fund
- Acquisition and below market rate leasing of land for non-profit housing
- Supporting and facilitating innovative housing projects
- Monitoring and researching of housing issues and trends
Check out other Affordable Housing initiatives the City is working on:
- Affordable Housing Strategy
- Developing Affordable Housing
- Types of Affordable Housing
- Housing Projects
- Homelessness in Richmond
- Related Links
For general enquiries, please email email@example.com
Affordable Housing Coordinator
Community Social Development
Email: Cody Spencer