Erin Welch and Valerie Griffiths are trying to find a bigger place so their family of four can move out of their 850-squarefoot condo, but like so many would-be home buyers in Metro Vancouver, they are finding it nearly impossible.

The couple, who would prefer to stay in Mount Pleasant - close to their workplaces and daycare for children Tate, 5, and two-year-old Lydia - say even with a $600,000 budget, they may have to leave the city to find affordable housing.

"We are both transplants to Vancouver and love everything about it, except the cost of living with housing. A detached house would be the dream, but that's out of reach," Welch said. "We are looking for a three-bedroom townhouse or a two-bedroom place for less, but aren't finding anything."

A report from Vancity released Thursday found a family would have to have a minimum down payment of nearly a quarter of a million dollars to afford a detached house in Metro Vancouver, which now has a typical price of $1.16 million. The family would also need to have an annual household income of more than $159,150. Of all the homes sold in Metro Vancouver in August, 38 per cent were detached houses, while 17 per cent were attached properties such as townhomes and row houses.

The typical price for an attached property was $511,500, requiring a down payment of $25,575 and an annual income of $86,364.

Apartments, which make up 45 per cent of Metro Vancouver's housing stock, typically cost $405,400, requiring a down payment of $20,045 and a household income of $68,438.

The median income for millennials in Metro Vancouver was $32,746 in 2014, translating to $65,472 for a two-income family, according to the report.

While apartments are the most affordable, the report notes they are not suitable for families.

"We wanted to point out there's a real lack of units that are appropriate for families," said Andy Broderick, Vancity CEO of impact marketing development. "The efficiency units that a $65,000 dualincome family can really afford is probably around $400,000, but these are typically 400 square feet - not ideal for families."

Three bedrooms is considered optimal for families with two children, according to the Canadian National Occupancy Standard, but only 1.7 per cent of Metro Vancouver's housing stock in 2014 were three-bedroom condos, while nine per cent were three-bedroom attached properties. According to the report, of Metro's 212,668 apartment units, 91 per cent were two bedrooms or less.

"People are jammed in quarters that are less than ideal and couples are putting off starting their families," Broderick said.

He said some families are making the choice to leave Metro Vancouver because of the lack of affordability.

"If you want to keep families in the Lower Mainland," he said, "you have to make sure the units they need are hitting the market."

Vancouver, New Westminster and White Rock had the lowest number of three-bedroom attached properties, which ranged from 1.6 to 4.9 per cent of their housing stock, according to the report. Port Moody had the highest number at 20.2 per cent.