Nanaimo is a ferry port and city of Vancouver Island, present in British Columbia, Canada. This city has used its wonderful harbor for servicing, distributing industries, and trading. Working and living in Nanaimo is invigorating, sustainable, and also promotes a balanced quality of life.
This city is quite affordable to live in. The total cost of living in the city is around $1,736. The average rent in the city for a 1 bedroom apartment in the city’s center is about 1,106. The utility cost is also quite affordable and is around $152 per month.
Average Housing Price in White Rock Nanaimo:
Despite the growing population of the area, this city still remains an affordable place to live in. Nanaimo has the average cost of a single-family detached house at about $566,023 in 2019. Housing in this city is considered more affordable when we compare this price to the other nearby metropolitan regions such as Greater Vancouver and Victoria.
The average housing price in Nanaimo is about $1,280K. This city has had almost 1,928 new listings during the last 28 days. Low inventory is a very common trend in many BC housing markets that puts upward pressure on prices. The number of single-detached housing sales increased to 13.29 percent to almost 1,262 in 2020, rising from 1114 in the previous year. There is an increase of almost 6.21 percent in average price to almost $470,738 among all the property types.
Homes for sale in Nanaimo:
Nanaimo has a wide range of housing choices from waterfront estates to condominiums. Due to having mountain terrain, most of the housing properties offer a wonderful view and all the residents of this area have access to the waterfront from the public access paths.
As the city’s population increases, the mix of housing in the city also changes with a proportional decrease in single-family houses and an increase in multi-family housings. Nanaimo had almost 44,965 dwelling units at the time of the 2016 census, a rise of 7.3 percent from 2011 when there were only 41,900 dwelling units.
What kind of houses can people afford in Nanaimo?
One can easily buy a residential apartment of 2 bedrooms and 2 baths in the range of $400,000 to $600,000 at Nanaimo at 1175 RESORT Dr. SL70, Parksville, British Columbia. 2 bedroom and 2 bathroom apartments are also available at 2562 DEPARTURE BAY Rd 321, Nanaimo, British Columbia. This city also offers you 2 bedroom and 3 bath apartments in the same areas at the cost of $525,000.
Cheapest neighborhood to live in Nanaimo:
Not only Nanaimo but also its neighborhoods offer many affordable homes. One of the cheapest neighborhoods is its South End. This neighborhood has a population of 2,764 individuals and is almost 34 percent less expensive than Nanaimo.
Another affordable neighborhood of the city is Nob Hill. This neighborhood has a population of 1,087 individuals and is almost 31 percent less expensive than Nanaimo. Another cheap neighborhood is Rose Hill with a population of 573 individuals and it is 29 percent less expensive than Nanaimo.