Rental prices for outdoor living are rising, especially for the luxury-sized, wood-framed and high-end models.
According to a survey by Expedia, the average price of a $100,000-plus house is now $2.1 million, up 11.3 per cent since 2016.
A Camper is still cheaper than a house on the market in a similar area of Vancouver, where a single-bedroom condo can cost as little as $1.4 million.
But a Camper can be a significant investment, with prices soaring by up to 30 per cent if the owner has other expenses in place, such as mortgage payments.
“You can get a lot of money back on a Campster by getting it out of the house and into a place where you can live,” said Greg Lea, a real estate agent and owner of a Vancouver real estate brokerage.
The average price for a $300,000 Camper rose to $1,868, while the average rent for a 1,200-square-foot unit in Vancouver rose to just under $1 million.
(See the list of the Top 50 Camper Rentals) “If you’re not paying rent, it makes a lot more sense to live in a Campet than a standard home,” said Lea.
“The price tag of the Campet is the main reason why people are choosing to live on the outskirts of the city, or not even live in the city at all.”
The average home in Vancouver has an estimated value of $1-million.
A typical Camper in Vancouver cost $2,600 to $3,200, according to the Expedia survey.
Many buyers choose to live closer to the city centre, and the median income of the Vancouver area is about $82,000, according the latest figures from the Fraser Institute.
“It’s kind of a paradox because you’re paying so much for a very limited space,” said John, a Campie, who has lived in Vancouver for about a year.
“I’m not a fan of it because you have to pay so much to get out of that city.”
A house on Vancouver’s West End is now selling for $1m or more, with a $1million price tag.
The median price of one-bedroom condos in Vancouver is $1 and a half million, according a 2016 report from RealTaleRealList.
The Vancouver market has seen some notable price increases in recent years, including a 14.9 per cent increase in single-family home prices in 2017.
A recent study by the Canadian Real Estate Association found the average home price in Vancouver had increased by more than 7 per cent between 2015 and 2017, according on average sales prices, up almost 30 per day.
The real estate sector in Vancouver may be growing in popularity, but the housing affordability crisis in the region is making it more difficult for people to make a long-term investment.
“If the affordability crisis gets worse and worse, then I think people are going to start thinking about selling because it’s really unaffordable and it’s very difficult to buy now,” said Jason.
“There’s no longer a market to buy in Vancouver.
If you can get out, you’ll have a great place to live.”