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 |
Cost of buying a property in Vancouver
|
Area/Neighborhood |
Average home price |
|
Vancouver |
$1,208,400 |
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 |
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 |
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 |
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 |
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)
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 |
