The vast majority of young people in Burnaby and New Westminster cite the cost of living as their main concern in life, according to a new survey.
While 62 per cent of millennials polled in Metro Vancouver put the cost of living at the top of their list, many more, 82 per cent, did so in the two municipalities.
The data comes from the Elevate Millennials survey conducted in May and released this month by Justason Market Intelligence and Elevator Strategy. The firms polled 648 people between the age of 18 and 39 in Metro Vancouver.
In a region where many young people are worried about their finances, Burnaby and New West millennials appeared to be the most concerned. They topped the list with 70 per cent saying they are worried about their personal finances, compared to 60 per cent overall in Metro Vancouver.
Burnaby and New West residents were also more likely than their counterparts elsewhere in the region to say they were worried about housing costs, with nearly half (48 per cent) indicating they were struggling to put a roof over their head.
Respondents in Burnaby and New West, however, were slightly more likely to own their home. About a third of local respondents said they own their home, “which challenges the perception that they are not able to buy,” according to spokesperson Adam Trombley.
“This could relate to the concerns about high cost of living though, as people may be feeling the pinch from mortgage payments,” he said.
