Skip Ribbon Commands
Skip to main content

Millennials don’t just want to live in the City of Vancouver


• The City of Vancouver is without a doubt the first choice for millennials when choosing where to live in Metro Vancouver.   As of the 2016 census 169,335 millennials chose to live there.   However, Surrey the second largest municipality in BC, has a total of 105,385 millennials; for context, that is more than Burnaby and Richmond's millennial populations combined (96,305).   Both Vancouver and Surrey saw millennial numbers increase between 2011 and 2016, Vancouver had an increase of 4.6 percent while Surrey had an increase of 10.6 percent.

• The millennials that are now in their mid 30’s are looking to set down roots and raise families.  That is where Surrey comes in as it offers a direct line to Downtown Vancouver allowing a quick commute to their places of work, while still offering some of the “lowest” prices in Metro Vancouver for single family homes. 

• In May the average single family home sale price in Surrey was $1,014,806 and in Vancouver $2,645,528, a difference of 89 percent.   

Source: JLL Research, Stats Canada, Paragon




Get our latest insights

Subscribe

Connect with us