The City of Port Moody encourages the development of housing options for all its residents.

In 2022, Council endorsed the City’s Housing Action Plan 2022-2032 (PDF). The Housing Action Plan addresses the housing gaps and needs identified in the City of Port Moody’s Housing Needs Report (PDF).  

Four strategic directions will guide the implementation of over 30 actions. These are:

  • Improve Affordability;
  • Catalyze Rental Housing;
  • Diversify Housing; and
  • Be a Housing Champion.

The Implementation and Monitoring Appendix (PDF) summarizes the actions the City will prioritize over the next 10 years.

Housing Needs Report
In 2021, the City completed its Housing Needs Report (PDF). The Housing Needs Report identified existing and projected gaps in housing supply by collecting and analyzing quantitative and qualitative information about local demographics, economics, housing stock, and other factors.

A central finding from the Housing Needs Report is the rapid increase in housing costs and the growing gap between what households can afford and what is available. Specific examples include:

  • 1 in 5 Port Moody residents are living below the standard measure of affordability and spending greater than 30% of their income towards housing costs.
  • Median sales prices of single-detached homes and townhouses in Port Moody have nearly doubled in price since 2013. The benchmark sales price for detached homes is higher in Port Moody compared to the regional average.
  • Rental rates have increased at nearly the same rate, and median rents no longer fall below $1,000 per month. Vacancy rates are 0% for 3+ bedroom units.

The key housing needs and gaps outlined in the Housing Needs Report informed the priorities of the Housing Action Plan (PDF).

 
Protecting tenants
Learn about our Tenant Protection and Resources and how you can protect yourself from increased costs and displacement when renting in our community.
Official Community Plan
Our Official Community Plan includes policies that support affordable housing and how to address development and maintenance of affordable housing units.

This includes:

  • protecting existing affordable rental housing from both demolition or change;
  • streamlining the regulatory and approval process for development of affordable housing units;
  • changing our secondary suite policy to encourage the development of new suites in appropriate areas;
  • ensuring that affordable housing is available throughout our community; and more.