Price of rental housing drives up cost of living in B.C.'s Fraser Valley, report finds

The minimum living wage needed to livecomfortably in the Fraser Valley region has increased dramatically due to high rental rates,according to a report releasedWednesdayby the Living Wage for Families campaign.

The living wage is the annually calculated hourly wage needed to cover the costof raising a family. It's meant to representthehourly wage that two working parents with two young children must earn to meetbasic expenses like rent, child care, food and transportation.

According to the report, high rental costs raisedthe living wage needed to reside in the Fraser Valley from $15.90 an hour in 2017to$17.40 in 2018.

The report also shows the minimum hourly salary needed for a living wage ishighest in Metro Vancouver, where it jumped this yearfrom $20.61to $20.91.

Government taxes, credits, deductions and subsidies are all included in the calculation.

"Part of what held off those wage increases [in Metro Vancouver] were two policy initiatives introduced by the provincial government," said Deanna Ogle, a campaign organizer with Living Wage for Families.

Ogler credited both the50 per cent reduction in MSP premiums and the recent Child Care Fee Reduction Initiative for being effective in keeping Metro Vancouver's living wage low.

The report which was published in conjunction with the B.C. branch ofthe Canadian Centre for Policy Alternatives and First Call: B.C. Child and Youth Advocacy Coalition providedfigures for nine communities around the province.

• Greater Victoria: $20.01 to $20.50.
• Revelstoke:$18.77 to$19.37.
• Kamloops: $16.90 to $17.31
• Powell River: $16.75 to $17.15.
• Parksville/Qualicum:16.44 to $17.02,
• ComoxValley $15.96 to $16.59
• North Central B.C.:$16.39 to$16.51.

Ogler said that whilepublic policy and legislationcan positively affect people, it can only go so far. She said maximum rent increases need to be implemented in B.C. or theincreasing cost of housing will swamp any other affordability measures taken by government.

B.C. Chamber of Commerce CEO Val Litwinsaid the burden can not fall solely on businesses to provide high wages to their employees. He said, in many cases, Metro Vancouver businesses simply can't afford to pay their employees$20.91 an hour.

Litwin said part of the answer lies in targeted government programs like the Child Care Fee Reduction Initiative in order to bring down the cost of living.

With files from B.C. Almanac