Skip to content
AreaScore

The Terraces

Neighbourhood in Vernon · British Columbia · Population 1,261

Approximate boundaries

Vernon doesn't publish neighbourhood boundaries, so AreaScore draws from the Census areas nearest where the name is placed by Natural Resources Canada, Wikidata, OpenStreetMap or AreaScore's own research. The outline follows Census lines and may not match how residents draw it. Figures marked city-wide are for all of Vernon.

Housing and jobs

Housing costs, rents, incomes and jobs in The Terraces, with comparisons and sources.

Affordability

46 · Average
Average monthly rent$1,317/month

Vernon: $1,298/month · Canada: $1,209/month · 2006: $886/month (estimated) · 2016: $1,210/month (estimated) (in 2021 dollars) · Statistics Canada, 2021

Average rent, bachelor apartmentPurpose-built rentals, CMHC October survey.$846/month

City-wide figure for Vernon · CMHC, 2025

Average rent, 1-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,234/month

City-wide figure for Vernon · CMHC, 2025

Average rent, 2-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,607/month

City-wide figure for Vernon · CMHC, 2025

Average rent, 3-bedroom apartmentPurpose-built rentals, CMHC October survey.$1,826/month

City-wide figure for Vernon · CMHC, 2025

Median dwelling value (owner-estimated)$388,229

Vernon: $524,000 · Canada: $472,000 · Estimated · 2016: $306,377 (estimated) (in 2021 dollars) · Statistics Canada, 2021

Households spending 30%+ of income on housing21.9%

Vernon: 24.4% · Canada: 20.9% · 2006: 31.3% (estimated) · 2016: 20.2% (estimated) · Statistics Canada, 2021

Economy

78 · Good
Median household income$75,406

Vernon: $73,500 · Canada: $84,000 · Estimated · 2006: $58,037 (estimated) · 2016: $62,429 (estimated) (in 2020 dollars) · Statistics Canada, 2021

Population growth (5-year)11%

Canada: 5.2% · City-wide figure for Vernon · Statistics Canada, 2021

Unemployment rate8.3%

Vernon: 8.2% · Canada: 10.3% · 2006: 5.9% (estimated) · 2016: 4.8% (estimated) · Statistics Canada, 2021

Sources

Adapted from Statistics Canada, Census of Population 2021 (Census Profile). This does not constitute an endorsement by Statistics Canada.

Adapted from CMHC, Rental Market Survey / Housing Market Information Portal. This does not constitute an endorsement by CMHC.