This is how much money you need to make to live alone in Victoria
Coast Capital is a financial cooperative that’s been member-owned for over 80 years. Our Ask an Expert series answers the most pressing financial questions keeping Canadians up at night as inflation and interest rates continue to rise. Because your real life questions deserve real answers. Learn how we can support you even more as a member at coastcapitalsavings.com.
Curious about how much cash you need to get by in Victoria, BC? We broke down the realistic monthly costs that a person renting alone in Victoria will face… so hold on to your wallets!
According to Numbeo, a website that uses crowdsourced information to compare the cost of living in cities, the average monthly cost for a single person in the city is $1,271.26 – but that’s before rent is taken into account.
Let’s take a realistic look at how much money you’ll need:
Housing costs in Victoria
Roshan_NG/Shutterstock
Numbeo puts the average cost of a one-bedroom apartment in downtown Victoria at $1,996 per month.
Utility costs in Victoria
Sharomka/Shutterstock
The cost of basic utilities – think BC Hydro bills to cover your heating and electricity – average $130.37 per month for a 900-square-foot apartment. Of course, in some (but not all) rental agreements, the cost of utilities is included.
Internet costs have an average monthly price of $96.71. We do not include the cost of a cell phone plan in the utilities as plans and prices vary greatly.
Transportation costs in Victoria
warmer/Shutterstock
You can save money on your transportation costs by walking or taking your bike; however, those options aren’t always ideal, especially if commuting daily.
A monthly bus pass from BC Transit is $85 per month in Victoria. Driving? Good luck, because gas prices in BC have been record-breakingly high in 2022.
Grocery costs in Victoria
Thaiview/Shutterstock
Adding Numbeo’s average Vancouver prices for basic grocery items, if purchased once a week, comes to a monthly average of $391.12. The grocery items include milk, rice, bananas, cheese, and chicken – essentially just the basics.
Dining out costs in Victoria
ImYanis/Shutterstock
According to Numbeo, the cost of a three-course meal for two at a mid-range restaurant is $90 on average.
So if you go on a date once per week and pick up the cheque, that’s $360 per month.
Of course, the true monthly cost of eating out (and, let’s be real, ordering food delivery) will vary greatly depending on your taste and lifestyle.
Entertainment costs in Victoria
Jacob Lund/Shutterstock
In Victoria, your average movie ticket costs $14.47, and a local beer costs $3.75.
So, if you go to the movies twice a month and have three beers a week, you’ll spend $73.94 a month on some leisurely drinking and cinema hopping.
Health and fitness costs in Victoria
Ivan Kurmyshov/Shutterstock
Fitness memberships vary greatly in Victoria. You can go to a community centre gym quite cheaply, whereas other specialty fitness studios cost more.
Numbeo puts the monthly average for a fitness membership at $67.81.
Coffee costs in Victoria
Artem Varnitsin/Shutterstock
Numbeo puts a regular cappuccino at $4.98 on average. If you treat yourself to two a week, that’s $39.84 per month spent at your local cafe.
Cost of living extras in Victoria
hxdbzxy/Shutterstock
If you were to buy a pair of jeans, that would set you back about $81.64 in Victoria, according to Numbeo.
To estimate the average cost of “extras” for life in Victoria, we’ll say people will spend the equivalent of two pairs of jeans per month on whatever various purchases they like to make, from makeup and books to clothes and home goods.
The Grand Total
1. Housing: $1,996
2. Utilities: $227.08
3. Transportation: $85
4. Groceries: $391.12
5. Dining Out: $360
6. Entertainment: $73.94
7. Health and Fitness: $67.81
8. Coffee: $39.84
9. Extras: $163.28
——————————————-
Total: $3,404.07 per month or $40,848.84 annually
Numbeo says that the average salary in Victoria is $4,751.06 per month. That would leave you $1346.99 monthly for all your other expenses like travel, savings, and debt repayment.
These figures are accurate as of October 2022.
Follow Channels and Categories