A quick look at the statistics for any given area can give a prospective buyer a far better understanding of the overall layout of any neighbourhood. These statistics can be a huge deciding factor when it comes time to consider if this area is the right area for you. Here are some of the most recent statistics and demographics for Yaletown and a reason why these demographics make Yaletown one of the most coveted places to live in Vancouver.
Vancouver has the fastest growing downtown core of any major city in Canada and nowhere is this more apparent than in the Yaletown district. The city of Vancouver has 603,000 people living in it and the Greater Vancouver Area has a population of 2,313,000. The overall growth of Vancouver is 4% over the past 5 years while the Greater Vancouver Area has grown over 9% during the same time. Over half of the growth in the city of Vancouver during this span of time has been seen in its downtown core. The last census shows the Yaletown district with a population of 12,000.
This growth in Vancouver’s downtown core has led to an increase in services, selection of goods as well as green spaces and parks, as developers are now catering to attracting a vibrant population to the various downtown neighbourhoods. Nowhere are these changes and developments more evident than in Yaletown, so if you are looking for an energetic, safe and well-planned neighbourhood to call home, Yaletown is definitely the place for you.
The age distribution for the district of Yaletown is:
- 19 and under age group comprises 9.6% of Yaletown’s population.
- 20-39 age group comprises 47.9% of Yaletown’s population.
- 40-64 age group comprises 33.9% of Yaletown’s population.
- 65 and over age group comprises 8.5% Yaletown’s population.
These statistics show that almost half of the population is made up of young professionals or young families as almost 10% of the overall Yaletown population is under 19. These statistics are reflected in the city’s planning stage in the Yaletown area where more schools and community centres as well as green spaces are the main focus. If you are a young family or thinking about a family and love that downtown vibe, complete with trendy boutiques and restaurants, as well as walking access to many of the public access buildings, then Yaletown is the place for you.
Yaletown is predominantly made up of high-rise structures with over 97% of the total amount of available housing being apartments. There is very little selection outside of apartments with only 2% Yaletown’s housing being townhouses and only 0.1% of the total housing units being single detached housing. These statistics show that Yaletown has a very high population density and choices outside of apartment living are extremely limited, to say the least.
Another very telling statistic about the housing market in Yaletown is how high the rental market is. 57.7% of the total housing available in Yaletown are rental properties. This statistic is part of a larger phenomenon than just Yaletown and reflected in many parts of the city because the real estate market in Vancouver is very competitive and expensive, making rental a very viable option.
The predominant language spoken in most Yaletown households is English. Other languages that are spoken in the neighbourhood are Chinese, Korean and French. These demographics show that Yaletown is a diverse and all-inclusive neighbourhood with a thriving population that is comprised of many different cultures. This blend of cultures is reflected in the many crowds in the district as well as in the large choice and selection of ethnic restaurants in Yaletown.
All of these statistics show that Yaletown is a growing, densely populated neighbourhood in Vancouver’s downtown core that is a great place to raise a family or to set up roots. Yaletown is a welcoming place that is multicultural and offers a great selection of trendy apartment living. If the amenities of downtown living appeal to you, Yaletown is definitely the place to call home. If you would like any more information on these or other demographics of Yaletwon or would like to see for yourself why Yaletown is such a popular place to live, please contact me. I look forward to hearing from you soon.