Cost of Living in Vancouver

How Much Does It Cost to Live in Vancouver in 2024?

Cost of Living MovingWaldo Study
Canada British Columbia Vancouver
What is the average monthly cost of living in Vancouver?
The average cost of living in Vancouver is $3,119.88 per month.

Vancouver is one of Canada’s most picturesque cities, renowned for its breathtaking natural beauty, including mountains, ocean views, and forests. People from all over the world are drawn to “Vancity” in search of a high quality of life and opportunities. However, it is well-known that living in Vancouver comes with a high cost of living.

The real estate market in Vancouver is highly competitive, with above-average home prices, making it one of Canada’s most expensive cities. However, effective planning and budgeting can still afford you a comfortable lifestyle there.

If you are considering a move to British Columbia, continue reading to discover crucial information about this province’s most populous city.

Methodology

The main data collection source for this article is Numbeo and trusted city-related websites, including the Government of Canada, Government of BC, and Translink. The costs presented are estimates and pertain to an individual living alone on a monthly basis.

Cost of Living in Vancouver, BC – 2024

Housing costs in Vancouver

Vancouver presents a competitive housing and real estate market, with average home prices exceeding the national average. Consequently, it ranks among Canada’s most expensive cities to purchase a home, alongside Toronto.

But these costs are balanced out by the beautiful nature around the city. Vancouver is in a great spot, with the ocean and mountains nearby. The city is designed to fit well with nature, and it has nice weather and a strong economy. So, people here get the best of both worlds.

Cost of rent in Vancouver, CA

Area/Neighborhood

1-bed apartment

3-bed apartment

Vancouver (Outside of Center)

$2,240.70

$3,791.40

Numbeo (Sept 2023)

Cost of buying a property in Vancouver

Area/Neighborhood

Average home price 

Vancouver

$1,208,400

CREA (Aug 2023)

Utility costs in Vancouver: Internet, electricity and water

Whether you own a house or rent in Vancouver, basic utility costs are a significant aspect of your budget. 

In British Columbia, utility bills for electricity are environmentally friendly, primarily sourced from clean and renewable sources.

Knowing how much you spend on utilities can help you use less and save money, especially on your electricity bill. If you’re worried about high electric bills, tracking your electricity can save you some money.

Here is the monthly average cost of a basic utility package for a 915 sq. ft apartment in Vancouver, covering electricity, heating, cooling, water, garbage, and internet services:

Utilities

Cost

Basic

(Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment

$144.08

Internet

(60 Mbps or More, Unlimited Data, Cable/ADSL)

$85.50

Total

$229.58

Numbeo (Sept 2023)

What is the average monthly cost of utilities in Vancouver?
The average monthly cost of utilities in Vancouver is $229.58.

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Grocery costs in Vancouver 

Grocery expenses in Vancouver are a little higher than other Canadian cities, such as Montreal. Basic items such as dairy, eggs, cereals, vegetables, meat, fish, coffee, and more are tax-exempt when purchased in grocery and convenience stores.

Grocery items in Vancouver

Cost

Milk (regular), (1 gallon)

$12.34

Loaf of Fresh White Bread (1 lb)

$3.88

Rice (white) (1 lb)

$2.48

Eggs (regular) (12)

$6.01

Local Cheese (1 lb)

$8.05

Chicken Fillets (1 lb)

$8.32

Beef Round (1 lb)

$8.78

Apples (1 lb)

$2.45

Banana (1 lb)

$0.86

Oranges (1 lb)

$2.26

Tomato (1 lb)

$2.58

Potato (1 lb)

$2.01

Onion (1 lb)

$1.56

Lettuce (1 head)

$3.56

Bottle of Wine (Mid-Range)

$20.00

Domestic Beer (0.5 liter bottle)

$4.22

Imported Beer (12 oz small bottle)

$4.58

Numbeo (Sept 2023)

What is the average monthly cost of groceries in Vancouver?
The average monthly cost of groceries in Vancouver is $375.76.

Public transit in Vancouver

Public transportation in Vancouver is operated by TransLink, the authority responsible for the regional transportation network of Metro Vancouver, which offers a comfortable and enjoyable experience for all through an extensive network of:

  • Buses
  • SkyTrain
  • SeaBus
  • And West Coast Express, commuter rail service

Here are the rates of public transport in Vancouver:

Type of fare

Rate

Single ticket

(1-Zone)

$3.15

Single ticket

(2-Zone)

$4.55

Single ticket

(3-Zone)

$6.20

Daily pass

(All Zones)

$11.25

Monthly Pass

(1-Zone)

$104.90

Translink (Sept 2023)

What is the Translink monthly pass price?
The Translink monthly pass price is $104.90.

Entertainment costs in Vancouver

Vancouver, celebrated for its cultural diversity and stunning natural environment, offers a wide range of attractions to explore. People can enjoy the beauty of Stanley Park, visit Granville Island, experience the excitement of Capilano Suspension Bridge Park and discover marine life at the Vancouver Aquarium.

The city is home to Canada’s largest Chinatown, and it also plays a prominent role in the film industry, earning it the nickname ”Hollywood North”.

Here are some insights into the entertainment costs in Vancouver:

Entertainment in Vancouver

Cost

Mid-range restaurant meal

$50.00

Taxi 1h

$40.00

1 cinema ticket

$18.00

Total

$108.00

Numbeo (Sept 2023)

Sales tax in Vancouver

Canada has three types of sales taxes that vary by province. In British Columbia, there’s the PST and the GST, which are set at about 7% and 5%, respectively, totaling 12% and applying to purchases of goods and services.

While some items, like basic groceries and sometimes feminine hygiene products, are exempt from sales taxes, the rate for other products depends on the specific province.

Government of Canada (Sept 2023) & Government of BC (Sept 2023)

Healthcare costs in Vancouver

When living in Vancouver, it’s important to understand British Columbia’s healthcare system, the Medical Services Plan. The MSP covers vital expenses like essential physician visits, maternity leave, and diagnostic services like lab work and x-rays. However, it doesn’t cover routine dental and vision care, alternative medicine, or prescription medications.

For broader coverage, you can either buy private health insurance or use your employer-sponsored plan. 

Type of healthcare

Cost

Employer-sponsored health insurance

$63.00

Non-employer-sponsored health insurance

$82.20-$191.60

Gym

$60.94

Numbeo (Sept 2023), Hellosafe (2023) & Insurance Business (Apr 2023)

What is the average monthly cost of employee-sponsored health insurance in Vancouver?
The monthly cost of employee-sponsored health insurance in Vancouver is $63.00.

Conclusion

Vancouver is a very appealing city with nice weather, especially when you compare it to big cities in eastern Canada. It’s a great place if you want a better life, beautiful nature, many outdoor activities, and good job options.

If you’re planning to move to Vancouver, this article provides insights into the city’s cost of living in 2024. Please remember that when you decide to move, it’s a good idea to research the best moving companies in Vancouver in advance to ensure a smooth and easy transition.

Check out this table for the average monthly expenses of living in Vancouver in 2024:

Category

Monthly cost

1 bed apt rent outside city center

$2,240.70

Groceries

Numbeo’s grocery list ($93.94 multiplied by 4)

$375.76

Utilities

Electricity, heating, cooling, water, garbage

$144.08

Internet with 60 Mbps

$85.50

Transit pass

$104.90

Entertainment 

Meal, taxi, movie

$108.00

Gym membership 

$60.94

Total

$3,119.88

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Ann Nacario

The author

Meet Ann – our head writer with a knack for making moving and city living a breeze. From the many details of moving to picking the perfect moving company, she’s your guide. Ann has a friendly yet detailed approach to ensure your move goes off without a hitch. When she’s not writing about relocation, it will always be on her mind, but you’ll catch her spending time with her three furry friends.

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