Vancouver's cost of living is cheap compared to some U.S. cities
Even though Vancouver is Canada’s most expensive city to rent in, our rent prices and cost of living start looking pretty good if we compare them to some major U.S. cities.
Zoocasa, a real estate agency, recently published a blog comparing city-by-city rent costs in Canada and the U.S.
It highlights some of Canada’s most expensive rental markets, which include three cities in Metro Vancouver. North Vancouver’s average is $2,971 per month, Vancouver’s is $2,715 per month, and Burnaby is at $2,494 per month.
Zoocasa pointed out that changes to Bill C-3 have given millions of Americans the opportunity to get Canadian citizenship, since it extends citizenship by descent beyond the first generation.
While many B.C. residents are struggling with the cost-of-living, Zoocasa suggests that Americans could be getting a deal by moving north, potentially saving tens of thousands of dollars a year on rent.
For example, a San Fransico renter who spends an $4,469 a month on housing could save over $20,000 a year by moving to Vancouver, where the average rent is $2,715 a month.
Other sky-high U.S. rents include New York City at $5,583 per month, Boston at $4,732 a month, and San Franscio at $4,732 a month.
What about other cost-of-living metrics?
Seattle’s skyline. (Fotogro/Shutterstock)
Daily Hive also looked at Numbeo, a crowdsourced cost-of-living data platform, to compare the cost of living in Vancouver with some U.S. cities. Again, Vancouver’s cost of living is substantially cheaper than some of the major metropolises down south.
For example, the cost of living in Vancouver is about 25 per cent lower than in Seattle, with rental prices nearly 23 percent lower, according to Numbeo.
A regular-sized cappuccino costs about $5.77 in Vancouver and $8.42 in Seattle. A combo meal at McDonald’s is going to run you $20.52 in Seattle but only $15.00 in Vancouver. A monthly fitness membership is $120.47 in Seattle, and $58.30 a month in Vancouver.
However, average salaries are 44 per cent higher in Seattle, with after-tax salaries of about $8,742.10 a month. In Vancouver, average salaries are 4,857.55 a month.
If we compare Vancouver to San Francisco, it once again comes out ahead as much cheaper, with the cost of living 33.5 per cent lower and rent prices 40 per cent lower.
That same cappuccino that costs you about $5.77 in Vancouver is going to run you $7.76 in SF. That monthly fitness membership that is $58.30 a month here is $158.10 there.
But San Francisco’s average salary is about twice what Vancouverites earn. It is $10,164.80 in SF, 52 per cent higher than Vancouver’s $4,857.55.
New Yorkers might have the biggest savings if they decided to move to Canada’s west coast, with the cost of living in Vancouver 42.6 per cent lower than New York City and rent prices a whopping 55 per cent lower. That same cappuccino and monthly gym membership will run you $7.87 and $175.25, respectively, in New York City.
Average after-tax monthly income in New York is $6,958.87, compared to Vancouver’s $4,857.55.
Do we have any American readers considering moving to Canada? Email us at vancouver@dailyhive.com and tell us your story.