North Shore Real Estate: The "Affordable Housing" Reality Check
If you’ve been scrolling through real estate ads in North Vancouver or West Vancouver lately, the word "Affordable" is everywhere. But here is the catch: in the North Shore market of 2026, "Affordable" and "Available to Buy" are rarely the same thing.
Most people assume these ads mean a discount on a condo purchase. The reality is a bit different. This report breaks down what those terms actually mean for your wallet and your future home.
“The 3-Point Summary
It’s Usually a Rental: Roughly 95% of official “affordable housing” on the North Shore consists of rental units, not homes you can buy.
The Income Gap: To qualify for many “below-market” rentals in 2026, a family’s income generally needs to be under $146,000.
Buyer’s Market Reality: With home prices currently dipping about 5% across the region, your best path to “affordability” isn’t a government program—it’s smart negotiating in the open market.”
What "Affordable" Actually Means (The Rental Side)
When a new building goes up in Lions Gate Village or Moodyville, the city often forces the developer to set aside "affordable units." For the everyday person, this means:
Strict Limits: You have to prove your income is below a certain level to live there.
No Ownership: You are a tenant, not an owner. You don't build equity or gain from the property's value going up.
Long Waitlists: Because these units are rare, getting one is often like winning a small lottery.
What "Attainable" Means (The Ownership Side)
You might also see the word "Attainable." This is a marketing term, not a government program. When a developer says a home is "attainable," they usually mean:
Smaller Spaces: It’s a studio or a very efficient 1-bedroom.
Standard Finishes: No marble or high-end gadgets, which keeps the price lower.
Open Market: Anyone can buy it, but you are paying the full market price for every square foot.
Your 2026 "Smart Buy" Strategy
Since government "affordable" programs likely won't help you buy a home, here is how to find real value on the North Shore right now:
Look for "B-List" Buildings: Everyone wants the shiny new concrete tower. You can often find a much better deal in a 1990s wood-frame building in Central Lonsdale or Lynn Valley. You get more space for a lower price.
The "Carry Cost" Trap: A cheap condo with a $700/month strata fee is actually more expensive than a pricier condo with a $350/month fee. Always look at the total monthly cost, not just the price tag.
The Squamish Alternative: While North Van prices have stayed flat, Squamish is still growing. If you can handle the commute, it remains the strongest entry point for building long-term wealth.
About Matt Council
Matt Council is a top-performing North Vancouver Realtor and West Van specialist with a background in finance. He moves beyond the sales hype to offer clients a data-driven, pressure-free approach to buying and selling real estate on the North Shore. Whether you are evaluating a presale in Lower Lonsdale or a detached home in Lynn Valley, Matt helps you understand the numbers behind the move.
Thinking of making a move? Let’s run the numbers.