The Cost Of Living In Vancouver, British Columbia, is a widely discussed topic worldwide. Vancouver is a city of dreams for many.
Despite all the expenses, this fabulous place in South Western Canada is preferred by half the people around the world.
From its snow-covered mountains to crystal-clear waters, Vancouver is a city desired by many. We can easily call it a piece of paradise on earth.
Being able to ski in the morning and swim in the afternoon is another thing that makes this city unique. Although, the water may be a little colder than expected.
However, there is a chance that you may neglect the price, and its beauty might change your mind.
What Are The Pros And Cons Of Living In Vancouver, Canada?
- Activities like hiking, going to the beach, and shopping Downtown can be done together in a single day when in Vancouver.
- World-renowned skiing destination Aspen is only at a distance of 2 hours.
- People living in Vancouver enjoy the Canadian Freeze, warm summers, and just the right climate all year round.
- Many of the immigrant Vancouver residents in Richmond are Asian.
- Vancouver’s beautiful city has a diverse culture and doesn’t entertain racism.
- Vancouver has a reasonably low crime rate.
- Immensely growing tech industry.
- The Cost of Living in Vancouver is way too high.
- Increased prices for housing and renting.
- One of the major cities in Canada with a high population.
- Public Transport in Vancouver is not so efficient.
More About the Cost of Living in Vancouver
1. What Is the Monthly Cost of Living in Vancouver Canada?
Most youngsters living in the city opt for rented places to live in. A single person living in Vancouver prefers having a roommate. Sharing a room cuts down on rental costs and reduces the overall cost of living in Vancouver.
An average one-bedroom apartment in the metropolitan area ranges from $2500 to $3500 per month.
Housing costs are a major budget line item when it comes to making a move to Vancouver. The increased rates in the housing sector have caused chaos. Many people fear they won’t purchase a property in the City of Vancouver.
To cover their extra costs, house owners convert their secondary suites into rental facilities for overseas students. This enables them to earn additional income.
The cost of these basement rentals is seemingly lesser by 20-30% depending on the area.
Owning property in Vancouver requires a loaded bank account. The prices start from $1.6M and go up to $3M if the property is a typical family home.
Ethnic restaurants, excellent coffee, and engaging music in Vancouver are a few of the many reasons why people are drawn to Vancouver.
2. Cost Of Housing Outside Of Vancouver
There are no expressways or freeways in Vancouver, even if you’re using public transportation or a car. The closest freeway starts at the end of the city.
Renting a place in the immediate outskirts doesn’t reduce the cost of living in Vancouver either.
3. What Are the Utility Costs in Vancouver?
Utility Cost includes the amount spent on amenities like heating, gas, and electricity. If you rent a 2-bedroom apartment, you incur a utility cost of around $120 to $150. An additional $60 to $70 on monthly internet charges will be added.
Homeowners need to pay an additional $70 on utilities like water and garbage collectors. If you own an apartment, a monthly pass of $400 to $500 gets added to your regular expenses for maintenance.
4. Transportation Costs In Vancouver
Vancouver is a car-centric city, but with time, public transportation is becoming easily navigable. Many rapid lines have been built over the years, making development faster and saving on the cost of living in Vancouver by cutting down on fuel.
You can make yourself a monthly on Metro-Vancouver one-zone transit that costs around $98 per month. The gas prices vary from $1.30 per liter to $1.60.
Uber and Lyft facilities have been recently added and are confined to the city only.
5. Costs Of Dining Out In Vancouver
Due to the high Cost Of Living In Vancouver, the people there live in small houses. This doesn’t give them enough space to attend to guests and be chivalrous. Thus, they prefer having guests over restaurants.
Vancouver has a wide variety of restaurants to choose from. A typical meal in a regular restaurant will cost you around $15, and fast food will cost you $10 to $13.
A two-people meal in a mid-range restaurant will cost you $80, and a fine establishment will charge $200 for two people.
6. Cost of Groceries in Vancouver
Farmer’s Markets are widely popular in Vancouver. Every corner of Vancouver has one Farmer’s Market throughout the season.
A family of two who cook regularly at home can expect to shop for groceries worth $600 to $800 monthly. Conscious shoppers save as much as 25%.
7. Cost Incurred On Entertainment In Vancouver
Movie Tickets in Vancouver range from $13 to $15 per person. The NHL Hockey Game is quite popular among the people in Vancouver.
The Tickets are pricey and are sold at a range of $100 to $400. However, Baseball Game Tickets are quite reasonable and are sold for $10 to $22.
What do We love About Vancouver?
Vancouver is home to many. Despite the high Cost Of Living In Vancouver, many people love staying here, and they wouldn’t trade it for any other city. Its beauty lures a lot of new visitors and keeps the old ones hooked.
Besides, the Cost Of Living In Vancouver or in any other country depends on how efficiently one plans their budget.
While you are on the hunt for places to move to Vancouver, we recommend checking this guide for Vancouver: