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Proprietary Index · Updated Monthly

Vancouver Special Index

A single number comparing median household income against the annual cost of carrying a typical Vancouver Special — the iconic 1965-1985 archetype that defined a generation of Lower Mainland middle-class housing. VSI = 100 means a year of carrying costs consumes the household’s entire gross income. For reference, Canada Mortgage and Housing Corporation’s gross-debt-service guideline puts housing at no more than 32% of gross income — an index value near 312.

The Vancouver Special is the local Big Mac: a tangible, instantly-recognizable middle-class home that everyone in the region grew up in or near. Tracking what it costs to carry, against what a median household earns, is the cleanest proxy for “can a normal household still buy a normal home in the Lower Mainland?”

Latest reading

146Real Estate Board of Greater Vancouver · July 2026

Annual carrying cost of $69,869 on the $1,088,800 benchmark home, against a median household income of $102,000 — 68.5% of gross income. median household income exceeds one year of carrying cost.

Methodology

The VSI is computed monthly using public data from FVREB and GVR HPI snapshots, Statistics Canada household income data, and Bank of Canada posted mortgage rates. The full computation is in scripts/generate-vancouver-special-index.mjs in the public repository — anyone can reproduce the value from inputs.

We use the MLS® HPI Composite Benchmark Price as the proxy for “a typical Vancouver Special” — the HPI benchmark is constructed to represent a typical home of typical attributes in each board's coverage area, which corresponds closely to the Vancouver-Special-archetype detached or attached middle-class home. Aggregating FVREB + GVR HPI gives a Lower Mainland benchmark.

Formula

VSI = (median_household_income / annual_carrying_cost) × 100

where:
  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
0.004
strata rate assumed
0.004
insurance annual
1,800
median household income
102,000

Interpretation bands

  • VSI > 100:median household income exceeds one year of carrying cost
  • VSI = 100:median household income equals one year of carrying cost
  • VSI < 100:median household income falls short of one year of carrying cost

Historical series

MonthBoardHPIVSI
August 2025Fraser Valley Real Estate Board$937,000169
August 2025Real Estate Board of Greater Vancouver$1,145,900139
September 2025Fraser Valley Real Estate Board$927,600171
September 2025Real Estate Board of Greater Vancouver$1,138,300140
October 2025Fraser Valley Real Estate Board$919,100172
October 2025Real Estate Board of Greater Vancouver$1,127,100141
November 2025Fraser Valley Real Estate Board$912,400173
November 2025Real Estate Board of Greater Vancouver$1,123,700142
December 2025Fraser Valley Real Estate Board$905,900175
December 2025Real Estate Board of Greater Vancouver$1,114,800143
January 2026Fraser Valley Real Estate Board$897,200176
January 2026Real Estate Board of Greater Vancouver$1,101,900144
February 2026Fraser Valley Real Estate Board$895,100177
February 2026Real Estate Board of Greater Vancouver$1,100,300145
March 2026Fraser Valley Real Estate Board$898,300176
March 2026Real Estate Board of Greater Vancouver$1,104,300144
April 2026Fraser Valley Real Estate Board$899,200176
April 2026Real Estate Board of Greater Vancouver$1,098,000145
May 2026Fraser Valley Real Estate Board$893,300177
May 2026Real Estate Board of Greater Vancouver$1,100,700144
June 2026Fraser Valley Real Estate Board$884,800179
June 2026Real Estate Board of Greater Vancouver$1,099,100145
July 2026Fraser Valley Real Estate Board$877,600180
July 2026Real Estate Board of Greater Vancouver$1,088,800146

Open data + reproducibility

The VSI is an open-data series under CC BY 4.0. Journalists, academics, and competing brokerages are encouraged to cite the index by URL.

MLS® HPI Source Disclosure

The Vancouver Special Index is computed against the MLS® Home Price Index (HPI) Composite Benchmark Price published monthly by the Fraser Valley Real Estate Board (FVREB) and the Greater Vancouver REALTORS (GVR).

The VSI is an aggregate derived index — it does not expose any individual MLS listing, sold price, agent commission, or any other VOW-gated data. Only the published HPI Composite Benchmark Price is consumed.

The MLS® Home Price Index, MLS®, and Multiple Listing Service® are trademarks owned or controlled by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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