{
  "formula": "VSI = (median_household_income / annual_carrying_cost) × 100",
  "annual_carrying_cost": "monthly_PI × 12 + property_tax + insurance + strata",
  "assumptions": {
    "down_payment_pct": 0.2,
    "amortization_years": 25,
    "mortgage_rate_pct": 4.85,
    "mortgage_compounding": "Canadian semi-annual standard",
    "property_tax_rate": 0.0035,
    "strata_rate_assumed": 0.004,
    "insurance_annual": 1800,
    "median_household_income": 102000
  },
  "citations": [
    {
      "url": "https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110013901",
      "org": "Statistics Canada",
      "title": "Table 11-10-0139-01 — Income statistics by census family",
      "retrieved_iso": "2026-05-08",
      "method": "2021 Census base + 2.5% annual growth projection (CPI-adjusted) to 2026"
    },
    {
      "url": "https://www.bankofcanada.ca/rates/banking-and-financial-statistics/posted-interest-rates-offered-by-chartered-banks/",
      "org": "Bank of Canada",
      "title": "Posted interest rates — 5-year insured fixed (chartered banks)",
      "retrieved_iso": "2026-05-01"
    },
    {
      "url": "https://www.bcassessment.ca/services-products/property-information-and-trends/property-tax-rates",
      "org": "BC Assessment",
      "title": "Property Tax Rates — Class 1 Residential, Metro Vancouver + Fraser Valley",
      "retrieved_iso": "2026-05-08"
    },
    {
      "url": "https://www.fvreb.bc.ca/statistics/Package/MonthlyMarketReports.html",
      "org": "FVREB",
      "title": "Fraser Valley Real Estate Board — MLS® HPI Composite Benchmark Price (monthly)",
      "retrieved_iso": "2026-05-08",
      "method": "Source HPI input for the VSI when board === fraser-valley."
    },
    {
      "url": "https://www.gvrealtors.ca/market-watch/monthly-market-report.html",
      "org": "GVR",
      "title": "Greater Vancouver REALTORS — MLS® HPI Composite Benchmark Price (monthly)",
      "retrieved_iso": "2026-05-08",
      "method": "Source HPI input for the VSI when board === greater-vancouver."
    }
  ],
  "data_source_disclosure": "The VSI is computed against the MLS® Home Price Index (HPI) Composite Benchmark Price published monthly by the Fraser Valley Real Estate Board (FVREB) and Greater Vancouver REALTORS (GVR). The VSI is an aggregate derived index — it does not expose any individual MLS listing, sold price, or agent commission. The MLS® Home Price Index, MLS®, and Multiple Listing Service® are trademarks owned or controlled by The Canadian Real Estate Association (CREA), used under license.",
  "interpretation": {
    "VSI ≥ 110": "comfortable affordability — median income comfortably exceeds annual carrying cost",
    "VSI 100-109": "borderline affordability — median income roughly covers annual carrying cost",
    "VSI 80-99": "stressed affordability — median income falls 1-20% short of annual carrying cost",
    "VSI < 80": "severe affordability stress — median income falls 20%+ short, dual-income required"
  },
  "license": "CC BY 4.0",
  "latest": {
    "board": "greater-vancouver",
    "boardLabel": "Real Estate Board of Greater Vancouver",
    "monthSlug": "april-2026",
    "monthLabel": "April 2026",
    "monthStart": "2026-04-01",
    "hpiBenchmarkPrice": 1098000,
    "downPayment": 219600,
    "loanAmount": 878400,
    "monthlyPI": 5034,
    "annualCarryingCost": 70444,
    "annualIncomeRequired": 70444,
    "medianIncome": 102000,
    "vsi": 145,
    "vsiTrend": "affordable (median income covers carrying)"
  }
}