Cost of Living in British Columbia: 22 cities compared (2024)

FAQs

What is the average cost of living in BC cities? ›

Other areas of BC may have lower housing costs but higher costs for food, gas, and utilities. The average cost of living in BC for a single person for basic expenses is $1,362 without rent. Adding the average price of a one-bedroom rental unit will bring a single person's living cost up to $3,535.

Vancouver wasn't the only B.C. city on the list of expensive places to live, Victoria, Nanaimo, and Surrey also cracked the top 10. Despite this, Vancouver is consistently on top of the most livable cities.

You would need around 8,892.5C$ in Vancouver to maintain the same standard of life that you can have with 6,500.0C$ in Quebec City (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare the cost of living and assume net earnings (after income tax).

B.C. has the highest cost of living of any of the provinces, according to a new report by Westland Insurance. The insurance firm compared several factors including income, property prices, rent, food and transportation costs.

Key Takeaways. The cheapest place to live in BC is Prince Rupert. Other places that are cheap to live in BC include Prince George and Dawson Creek.

Prince George stands out as a beacon among the cheapest places to live in BC, especially in Northern BC, offering the perks of urban living without the high costs typically associated with city life.

Victoria, B.C. tops our list of the most livable cities in Canada - The Globe and Mail.

Average Cost of Living per Month in Edmonton

The average cost of living in Edmonton is $3,104/month for a single person who rents. This average is based on many factors including the cost of housing, transportation, groceries, and entertainment.

Is Vancouver the most expensive city to live in? ›

Vancouverites grappling with sky-high housing costs might be surprised that this year's Mercer Cost of Living Survey ranks the city as the No. 118 most expensive city worldwide.

Provinces with the highest cost of living in Canada

Before we look at how cost of living can impact your mortgage, let's first break down cost of living in Canada by province. The province with the highest cost of living in Canada is British Columbia, according to a recent study by Westland Insurance.

In order to live comfortably in Vancouver and not have to worry about the high cost of living, you should make at least $40000 per year.

A new report from the BC Centre for Disease Control outlined how much it costs a family of four to maintain a healthy, balanced diet per month in the province. Data from May 2022 showed it cost the average B.C. family $1,263 a month. On Vancouver Island, we're paying more, $1,366 per month.

Provincial Overview

Despite increasing by 0.5% month-over-month, average asking rents for purpose-built and condominium apartments in B.C. fell 1.9% year-over-year to an average of $2,494, with two-bedroom rents down 1.7% to $2,809 while one-bedroom rents increased 2.7% to $2,227.

$60,000 is $2,250 less than the average yearly salary of $62,250 in Vancouver. A salary of $60,000 per year means that you would be taking home about $47,068 per year after taxes, or $3,922 per month to pay for things like housing, transportation, groceries, and entertainment.

The estimated annual cost of living in B.C. was $79,591 with an average median household income of $97,800. Quebec topped the list as the most affordable province, followed by Prince Edward Island and New Brunswick. The cost of living seems to increase as you move West across the country.