Key quote is further down in the article, although I don't know if the referenced study accounted for health care costs:
"Mr. Yan conducted a study looking at the median housing values of various North American cities, as well as median incomes. He found that while Vancouver is the third most expensive city to live in, it is ranked 50th in income, with a median household income of $72,622. Toronto’s ranked 32, with a median household income of $78,373.
San Jose and San Francisco, where all the big tech firms are located, are the first and second most expensive cities in North America, respectively, but they’re also No. 1 and No. 2 in median household income. If median income were higher in Canada’s largest cities, then those 30-somethings would make these urban hot spots more of a long-term destination, he says."
EDIT: Andy Yan's data for the initial comparisons are based on Stats Canada numbers, which means his initial set[1] of studies and analysis seem to have focused on Canada-only.
"Mr. Yan conducted a study looking at the median housing values of various North American cities, as well as median incomes. He found that while Vancouver is the third most expensive city to live in, it is ranked 50th in income, with a median household income of $72,622. Toronto’s ranked 32, with a median household income of $78,373.
San Jose and San Francisco, where all the big tech firms are located, are the first and second most expensive cities in North America, respectively, but they’re also No. 1 and No. 2 in median household income. If median income were higher in Canada’s largest cities, then those 30-somethings would make these urban hot spots more of a long-term destination, he says."
EDIT: Andy Yan's data for the initial comparisons are based on Stats Canada numbers, which means his initial set[1] of studies and analysis seem to have focused on Canada-only.
[1] https://vancouversun.com/news/local-news/radical-disconnect-...