Rent in Vancouver costs more than these major European cities
A new report looks at the cost of living in major cities, revealing that the cost of rent in Vancouver is the highest in the world.
Bunq, Europe’s second-largest neobank, released its Working Abroad Index, where it examined 75 cities monthly cost of living, including one-bedroom rent, groceries, utilities, mobile, and home internet. The financial institution got its data from Numbeo, a cost-of-living database, looking at July 2026.
Its index does not include non-essential expenses like eating out and entertainment.
Bunq found that Vancouverites are paying more for housing than residents are in major metros like Paris, Berlin, Madrid, Barcelona, Milan, and Munich.
“Rent is doing all the damage,” reads an email from a spokesperson for Bunq.
According to a press release, rent accounts for 71 per cent of a Vancouverite’s monthly budget, which on average is $3,424 a month.
Bunq
Meanwhile, in Berlin — a city notorious for high cost of living — renters are spending an average of 58 per cent of their monthly budget. In Paris, renters are spending 62 per cent.
“Vancouver renters pay an average of $2,442 a month and Toronto renters $2,150, against $2,005 in Paris and C$1,829 in Berlin,” reads the press release from Bunq.
“Vancouver rent now exceeds that of 24 of the 28 European capitals in the index, trailing only London, Dublin, Amsterdam and Luxembourg City,” it adds.
However, Vancouver ranks just 23 out of 75 when it comes to total monthly costs, due to the fact that “almost every other cost in Canada is low by global standards.”
For example, the average Vancouverite is paying $118 for utilities for an apartment just over 900 square feet, which is lower than Bangkok, Ho Chi Minh City and Medellín.
Meanwhile, Berlin residents are paying on average a whopping $586 a month for utilities.
Vancouver’s transit costs are “in the middle of the pack,” costing $117.20 a month. While it is higher than cities like Madrid ($80), Barcelona ($49), and Amsterdam ($102), it is cheaper than Paris ($147) and Vienna ($122).
Fortunately for Vancouverites, the city’s cost of living is still far below New York City and London.
New York City’s rent is $5,085, and its total cost of living comes to $6,590. London’s average one-bedroom rent is $3,728, and monthly expenses are $5,327.
Bunq also broke down the numbers to see how far one month of living would get you in other countries. It found that the average resident would get by for 3.5 months in Chiang Mai, 3.2 months in Ho Chi Minh City, 2.6 months in Bangkok or 2.0 months in Medellín.