For a while, it seemed like we were reading those exodus op-eds daily. Young people living in the city were finding it severely unaffordable, and looking elsewhere in the province (or the country) to establish a more economically stable life.
But some of us are sticking it out. Like a mediocre Tinder date, we’re just giving it some time to suss it out a little more (and enjoy another drink or two). Because, while it is often overpriced and overhyped, Vancouver is actually a beautiful city — nature-wise at least.
And yes, while there is all this beauty, Vancouver’s rep definitely gets tainted by the cost of living here.
Simply put – it is far from cheap to live alone in this city.
Gone are the days of hand-me-down homes from parents, and affordable down payments for mortgages – adulthood vacation is over. So to show how just expensive this city is, we broke down monthly costs based on a single person living and renting in downtown Vancouver (while trying to have any kind of life).
Might want to hold off on that extra guac while you read this…
Recently, the City of Vancouver listed “affordable housing” as $2,056 for a one-bedroom apartment. And while that might seem absurd, the reality for any single dweller living downtown is actually higher than that.
According to Numbeo, a website that compares costs of living in global cities, the average cost of renting a one-bedroom apartment in the downtown core is currently $1,922.47. And that cost is more inline with Padmapper as well, which last month, listed one bedrooms as even pricer, at $2,080.
But that cost doesn’t include hydro or internet.
Numbeo averages the cost of basic utilities for a Vancouverite at $79.70 and since we don’t want to use up all our data while swiping left, adding internet costs an additional $75.10 on average per month.
So, to recap the math, if you’re a solo dweller in a one bedroom, you can expect to dish out a minimum of $2,234.80
There is a reason we all go crazy when mobile providers offer $50 plans with over 2 or 3 GB of data. Phone plans are notoriously expensive in Canada, so much than even our Economic Development Minister thinks it’s ridiculous.
And it’s all for good reason. According to the 2015 CRTC-commissioned Wall Report, an unlimited talk-and-text cellphone plan with 5 GB of data costs an average of $107.50 in Canada. But since we’re talking minimum costs, a 2 GB is around $75 a month. And that doesn’t include our overages fees…
For many downtown dwellers, Vancouver is small enough to generally walk from point A to B in the city’s core. It’s part of the reason we shell out the extra dough monthly to live in a neighbourhood like Yaletown.
Generally, transportation costs can be low, especially since we still don’t have Uber and aren’t using it extravagantly to cross the bridge.
But, for those who do transit to and from work by using Translink, it costs $95 per month for a transit pass for one zone.
Some downtown residents are taking advantage of all our bike lanes, which is great and keeps transit cost at a minimum.
As for cars… what car? We live downtown.
A recent report showed that Vancouverites spend an average of $217.97 per month on groceries per person. Taking into account the higher costs of downtown grocery stores, the extra avocados we buy to avoid avo toast at brunch, and adding any drug store items, this cost increases by at least $100 per month. This puts us at around the $317 monthly just for basic items.
One of the most exciting things about living downtown is you can walk to any and every bar or restaurant in the area. Of course, this can also be the downfall to your savings.
According to Numbeo, the average price of a three-course meal for two at a mid-range restaurant is $80.00 – a figure that seems pretty low, to be honest – especially considering the cost of booze. To make it more realistic, add another $30.00 to the tab and assume the lowest you’ll pay is roughly $100.00 if you want a drink.
And that’s for just one night out.
Realistically, a month includes at least one dinner, a brunch or two, and a couple of movie nights. You’re looking at a minimum of $280 per month, and that’s if you’re forcing yourself to stay in most nights (at your $2,000 apt…).
Because the party doesn’t stop in your 30s, we’re giving this its own category. Heading out for a drink (or seven) keeps many downtown dwellers sane, and it’s one expense we happily choose to cover.
On average, expect to fork out $10 per drink in downtown Vancouver. And since there are generally four weekends per month, if we average going out one night per weekend (again, important for staying sane), and have 2-3 drinks per outing, we’re looking at $90-120 at least.
Bottle service not included (Nor is your late-night poutine).
One of the major attractive features for many living in Vancouver is the healthy lifestyle the city offers. From hiking to paddle boarding in the summer, there are many ways to keep fit and at almost zero cost.
But Vancouver also offers plenty of options in terms of fitness classes. Barre, yoga, CrossFit, there are so many way to work off those beers. And according to a new report from LowestRates.ca, we spend $75 per month on fitness, on average.
Keeping the coffee purchases minimal sans fancy sprinkly drinks, just a large coffee here, and an Americano there ($3), it adds up to about $4o monthly for the java juice.
We’re going to average this to about $125 a month.
So what does this look like when it all adds up? Way too real, that’s what:
Groceries/Household Items: $317.00
Dining Out: $270
Health and Fitness: $79
That means you need to make a minimum annual salary of roughly $51,300 before taxes in order to bring home a yearly income of $40,360 after after taxes, CPP, and EI. That will leave you with *cough* *sputter* $91 a month, and you’ll need it since we haven’t even mentioned paying off debt or saving.
In other words, if you’re a single 30-something looking to live alone in downtown Vancouver, anything under $51K a year means you’re probably out of luck, and need to look elsewhere or find roommates.
But, if you stick it out and are able to stay, it is truly a great place to live… especially if you enjoy a place that fully shuts down during a snowstorm.