Cost of Living in Vancouver

Is Vancouver expensive?

The cost of living in Vancouver is high, ranking 35th in the world and 3rd in Canada. For a family of four, you're looking at around $10,871 a month, including rent, which is about $5,250 if you’re living in the center. If you're single, it's around $4,349 a month, with rent typically at $2,817 in the city center.

To put that into perspective, living in London is even more expensive — families can expect to spend roughly $14,545 a month, and for a single person, it’s around $5,704. Berlin is a bit easier on the wallet, with families spending about $8,562 and individuals around $3,340. So, the Vancouver cost of living sits somewhere between London and Berlin (Source: Numbeo).

Rent per month

Here's a look at the average monthly rent in Vancouver. Prices vary depending on the size and location of the apartment (Source: Numbeo):

• Apartment (1 bedroom) in the city center: $2,817
• Apartment (1 bedroom) outside of center: $2,359
• Apartment (3 bedrooms) in the city center: $5,250
• Apartment (3 bedrooms) outside of center: $3,959

The Vancouver rental market in 2024 is still tough. Rent prices are on the rise — a one-bedroom now averages around $2,750 a month — and vacancies are super low at 0.9%, making the Vancouver cost of living quite pricey. Even with new developments popping up, the demand is still outpacing what's available, especially with more people moving to the city. Rent is expected to keep going up, so if you're renting, be ready for higher costs. For landlords, it's good news because demand for rentals remains high (Source: Vancouver Rental Group).

Best areas to live in Vancouver:

• West Vancouver — A luxurious spot with stunning ocean views, perfect for those who want an upscale, safe community.
• Shaughnessy — Peaceful and wealthy, this area has low crime and a serene vibe.
• Arbutus Ridge — Safe and family-friendly, it’s a great place to settle down.
• Kerrisdale — Green and quiet with a real community feel, plus some pretty stunning homes.
• West Point Grey — A beautiful, scenic neighborhood near the beaches, perfect for those who love a quieter, upscale life.
• Kitsilano — Ideal for active, health-conscious folks with its beaches, yoga studios, and trendy cafes.
• South Granville — A foodie paradise with great transport links and a lively social scene.
• North Vancouver — A family favorite, with easy access to outdoor activities like skiing and hiking.
• Burnaby — A more affordable option with solid transit connections to downtown Vancouver.

Up-and-coming areas:

• Surrey — Still growing, with more affordable housing, but struggling a bit with organized crime.
• Langley — Gaining popularity for its family-friendly feel and more space to stretch out.
• Mount Pleasant — A trendy, youthful neighborhood that’s attracting more young families.
• Grandview — Diverse and lively, with great nightlife and more affordable housing than the West Side.
• South Vancouver — Quieter and more suburban, it’s a great pick for families, especially in Dunbar and Kerrisdale.

Least desirable neighborhoods:

• Downtown Eastside — Known for its high rates of homelessness, drug use, and crime.
• Chinatown — Once a cultural gem, it’s now struggling with rising crime and homelessness.
• Mole Hill (West End) — A small historical neighborhood with higher crime rates, despite its central location.
• Hastings-Sunrise — Dealing with violent crime and issues tied to its transient population.
• Renfrew-Collingwood — A higher crime area, often linked to drug activity and rental properties.
• Victoria-Fraserview — A mix of residential and commercial properties, with higher crime due to its location near the city’s eastern border.

How to find an apartment in Vancouver

Renting in Vancouver is fast-paced and pricey, so it’s important to be well-prepared. Have your Canadian phone number, SIN, proof of employment, and references ready to go because apartments get snapped up quickly. Be ready to pay a security deposit upfront — usually half a month's rent — and an extra deposit if you have pets. Start your search on trusted sites like Craigslist, Kijiji, Facebook Marketplace, and liv.rent. Liv.rent is especially handy since it verifies listings and landlords, helping you avoid scams. Always view the apartment in person before handing over any money, and if you’re searching from abroad, look for listings with virtual tours. Set up a Canadian bank account ASAP since most landlords prefer e-transfers for rent payments.

When you’re checking out an apartment, pay attention to practical details. Test appliances, check cell reception, and ask about lease terms, utilities, and any house rules. If it's an older building, ask about heating costs, as they can add up. Make sure you know your tenant rights; the B.C. Residential Tenancy Act is a good resource for understanding deposits, maintenance, and more. If you're new to Vancouver, consider booking a temporary place first so you can explore neighborhoods like Surrey or East Vancouver, which can be more budget-friendly.

If you need help with your housing search in Vancouver, we're here to assist. We can provide a personalized quote or connect you with our trusted partners who have successfully helped many others find rental options in the city. Let us guide you and make your search easier and more efficient.

Property prices

The average price per square meter to buy an apartment in Vancouver (Source: Numbeo):

• City center: $15,066/sqm
• Outside of the city center: $10,012/sqm

If you're an expat looking to buy property in Vancouver, you must understand the current regulations and how they apply to you. As of now, Canada's foreign home ownership ban prevents non-Canadians and those without permanent residency or citizenship from purchasing residential property until the end of 2024. However, there are exceptions to this rule. If you're on a work visa and have filed Canadian tax returns for at least three of the last four years, or if you're an international student who's lived in Canada for most of the past five years, you may be eligible to buy a property with certain restrictions.

If you do qualify and want to get started, it’s important to factor in the Foreign Buyer’s Tax. Even if you qualify to buy, foreign buyers face a 20% tax on the property’s market value. To avoid surprises, consult with a real estate lawyer or a financial advisor who understands the process of buying as an expat, and all the rules that come with it. If you’re planning to settle in Vancouver long-term, gaining permanent residency or citizenship can make it easier for you to own property and can also help you avoid this additional tax.

Utilities

A big chunk of your Vancouver cost of living is the monthly utilities (Source: Numbeo):

• Basic utilities (electricity, heating, cooling, water, garbage) for an 85m² apartment: $147
• Mobile phone monthly plan with calls and 10GB+ Data: $62
• Internet (60 Mbps or more, unlimited data, cable/ADSL): $80

These expenses can add up to a hefty amount throughout the year. But, you can cut your utility bills and reduce your cost of living in Vancouver by following these tips:

• Compare and switch providers: If you want to save on your monthly utility costs, check out EnergyRates.ca. They make it easy to compare electricity and natural gas rates in Vancouver so you can see if there's a better deal out there. You can also visit RateHub for a quick overview of the best utility prices available.
• Track your energy usage: Keep an eye on your electricity usage with the BC Hydro MyHydro app. It’s super handy for spotting where you might be using more energy than you need. If you’re using natural gas, FortisBC has tools that help you track your usage and find ways to cut back.
• Manage your utility bills: Use apps like Mint to track your expenses. You can monitor all your bills, including utilities, and set up a budget to help keep your spending in check. It's a great way to see where your money is going and find areas to save.
• Get energy-saving tips: Try using apps like JouleBug — it helps you make small changes that can add up to big savings over time.

Public transport

The SkyTrain is Vancouver's rapid transit system which connects downtown with areas like Richmond and Surrey. If you want to enjoy the city views, take the SeaBus between downtown and North Vancouver. Buses serve the entire city, which makes commuting affordable and simple. Vancouver is also very bike-friendly — find information about routes on TransLink's Bike and Ride website. Many locals and visitors use Mobi by Shaw Go's bike-sharing service to get around. Should you need extra assistance, HandyDART provides door-to-door service.

Vancouver travel ticket prices (Source: TransLink):

• Single ride ticket (1-Zone): $3.20 (Note: Higher fares apply for additional zones.)
• Compass Card Pay-as-you-go (1-Zone): $2.60
• DayPass: $11.50
• Monthly pass (1-Zone, Compass Card): $107.30
• Concession fares: $2.15 — For youth 13-18 and seniors 65+.
• Kids 12 and under: – Free on all services.
• YVR Airport AddFare: +$5 for trips starting at YVR Airport stations.

Taxi (Source: Numbeo):

• Taxi start (normal tariff): $3.90
• Taxi 1 km: $2
• Taxi 1 hour waiting: $37
• From the Airport to the city center: $36

Food

For everyday shopping, larger chains like Safeway and Save-On-Foods are convenient, especially if you sign up for their reward programs to save on prices. If you're into fresh, local produce, the Granville Island Public Market is a must-visit, though it gets busy on weekends. For budget-friendly shopping, check out No Frills or Real Canadian Superstore— just be ready to buy in bulk. For organic products, stores like Whole Foods and Choices have great selections. If you're after Asian ingredients, check out H-Mart and T&T Supermarket. Don't forget to explore local neighborhood shops, as they often have fresh produce at great prices, which can be very helpful when it comes to the cost of living in Vancouver.

Depending on your shopping habits and diet, you can expect your monthly grocery costs to range around (Source: Reddit):

• For a single person: $300-$500
• For a couple: $600-$900
• For a family of four: $1,200-$1,800

Here are some common grocery items to give you an idea of their prices (Source: Numbeo):

• Milk (1 liter): $2.53
• Loaf of fresh white bread (500g): $4.10
• Rice (1kg): $5.50
• Eggs (12): $5.30
• Chicken fillets (1kg): $20.50
• Domestic beer (0.5 liter draught): $8.75

Childcare

In Vancouver, finding childcare can be difficult, especially with the high demand in the city. It's a good idea to get on waitlists early, even before your baby is born, to secure a spot. Costs can vary depending on the type of care and your child's age, but are quite high in the city, adding to the cost of living in Vancouver There are subsidies and benefits available, like the Canada Child Benefit (CCB), which provides monthly payments to families with kids under 18. Check how much you can get here.

Types of childcare and average costs in Vancouver (Source: Reddit, Moving2Canada):

• Daycare (full-time): $935 - $1,200/month
• Preschool: Free to $1,000/month (varies with subsidies)
• Nanny (live-out): $1,900 - $3,000/month
• Nanny (live-in): $1,400 - $2,000/month
• After-school programs: $200 - $500/month
• Family childcare (relative): $0 - $3,500/year
• Preschool (or kindergarten), full day, private, monthly for 1 child: $1,573 (roughly €1,050)

International yearly school fees:

1. West Vancouver Schools: $17,250 + other fees apply
2. Mulgrave School: $27,000-$31,000
3. Vancouver International College: $6,800 -$12,550
4. International Primary School, yearly for 1 child: $23,083 (around €15,400)

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