White Rock is situated in British Columbia, Canada. This city is a very famous destination, especially in the summer. This city is among the most affordable cities in Canada. The total cost of living in White Rock, BC is about $2,219. This city also offers affordable renting prices. The average rent in the city for a one-bedroom apartment is almost $1,773 per month. The utility cost is also very affordable and is about $95 per month.
Average Housing Price in White Rock:
White Rock has had almost 120 new listings in the past few days. This city has only 25 average days to sell a housing property in White Rock on the market. White Rock has also the highest-selling to listing ratio. According to recent real estate statistics, this ratio is found to be 98 percent. This city is Canada’s 6th fastest growing city.
White Rock has almost twenty-five properties for sale and about 5 properties for rent. The range of median housing prices over the last year range from $350,000 for the houses to $246,500 for the units. If you are an investor and looking for a housing property to invest in then you must consider a house in White Rock for $400 PW with a 5.9 percent annual rental yield. The units are rented for $ 380 OW with an 8 percent rental yield.
On the basis of the yield of the previous five years, this city has a compound growth rate of about 1.2 percent and -3.2 percent for units.
Homes for sale in White Rock:
In White Rock, almost 40 percent of the dwellings are small apartment buildings while the remaining are the homes, mainly the large apartment buildings, single detached homes, and duplexes. This area of the Great Vancouver metropolitan area has a very good selection of housing sizes that range from lofts to almost 4 or more bedrooms. Almost 70 percent of the city’s population own their house and 30 percent are renters.
What kind of houses can people afford in White Rock?
The most affordable housing style in White Rock is condominiums. The condo prices start in almost mid $200’s. The next little expensive but still affordable are townhouses. The starting price of townhouses is about $ 429,000. These prices are the lowest prices in the Greater Vancouver area. So you can easily buy a townhouse with all the basic facilities and even more than you want within the range of $600,000.
Cheapest neighborhood to live in White Rock:
White Rock has a number of affordable and great neighborhoods to live in. you can have your own house within the range of $400,000- $600,000 at Blackwood street. The cheapest is the 90-member Semiahmoo First Nation Community. This neighborhood has amazing weather. You can buy a fully functional townhouse within the range of $400,000 to $600,000. This area is full of schools, hospitals and also has shopping malls. So this neighborhood is best for families, particularly with children.