What is the Average Cost of Living in Victoria British Columbia?
Victoria, British Columbia is a stunning city located in the beautiful Pacific Northwest corner of Canada. Characterized by a laid-back atmosphere, a vibrant community of aspiring entrepreneurs, and its majestic natural beauty, Victoria is an ideal location for individuals or families looking to call this stunning city their home.
But, depending on the person in question, the costs associated with living in Victoria can be a major determining factor when it comes to making the move or not. As a highly desirable place to reside, many individuals often wonder about the cost of living in Victoria.
In this article, we will be exploring the different factors that influence the cost of living in Victoria, BC. This article should serve as an introduction to understanding how much it may cost you to live in this beautiful city and the surrounding areas.
Overview of the Average Cost of Living in Victoria
Victoria is a beautiful city, often regarded as one of the more expensive places to live in Canada. According to Numbeo, the cost of living index in Victoria is currently 123.90 (the Canadian average is 85.00). This higher-than-average cost of living score reflects itself across all categories of consumer goods, including groceries, housing, transportation, and entertainment.
Living in Victoria can be expensive, particularly for rental costs and the price of consumer staples, but there are plenty of ways to save money too. Living in smaller burrowing municipalities in close proximity to Victoria’s city center, for instance, allows for rent savings and access to the region’s extensive public transit network. Individuals who rely heavily on transportation costs can also save money by opting for bikes or electric scooters as their primary method of commute – in comparison with gasoline-powered cars – which can help to alleviate high fuel costs.
Cost Breakdown of Groceries, Utilities & Transportation in VictoriaAlthough the cost of living in Victoria (and the Pacific Northwest) is higher than the Canadian average, costs still vary drastically between individual expenses and can depend largely on how much an individual prioritizes their expenses. To illustrate these differences, let’s look at a breakdown of individual cost categories in Victoria:
Groceries
In Victoria, groceries are expensive. According to Numbeo, an individual can expect to pay an average of $200 Canadian dollars (CAD) per month on groceries. This includes staples such as fruits and vegetables, meats, dairy products, and bakery items. Compared to other areas within Canada, such as Alberta or Manitoba, groceries are about 13% – 15% more expensive. But there are ways to save money on groceries too; such as stockpiling during promotional periods, opting for store-brand products as opposed to national brands, and only buying what you need.
Utilities Utilities typically refer to electricity, water, garbage pickup, and sometimes phone services or internet bills. These costs vary dependent on lifestyle, housing choice (for instance a house versus an apartment), and type of energy utilized such as renewable sources or traditional energy sources. As such, it is hard to definitively state a universal price for utilities but according to Numbeo, an individual in Victoria can expect to pay an average of $135 Canadian dollars (CAD) per month on utilities. Other sources state that utility bills are higher in Victoria than other Canadian provinces such as Quebec and Alberta but they also suggest that there are significant cost savings available via energy bill comparison sites and renewable energy solutions such as solar power installations.
Transportation
Transportation costs are largely based on whether or not an individual owns a car or not. For individuals who do have a car in Victoria, transportation costs typically reflect the amount of money spent on gas or fuel. An average costs for vehicle fuel and maintenance can range from $150-$200 CAD per month, depending on how much one drives per month and the type of car they own.
For those without a car, transportation is typically done via public transit such bus & rail services. Transportation options such as buses operate via a fare ticketing system, with a single fare passing costing $2.50 CAD and a monthly pass costing $102 CAD for unlimited ride access. Alternatively, individuals can utilize ride sharing services like Uber/Lyft which have a base rate of around $2 CAD plus additional fees and fares per minute driven.
Cost Breakdown of Housing & Rentals in Victoria
When living in Victoria it is important to consider what your housing needs will be. Housing is the most significant factor when it comes to living expenses so it is important to consider what type of housing you are interested in before you make your move to Vitoria BC. The number one determinant for housing costs is typically whether an individual opts for housing options such as buying a home or renting an apartment or house.According to CMHC (Canada Mortgage and Housing Corporation), the average price per square foot (sq./ft.) of housing in Victoria averages around $350 Canadian dollars (CAD). They also note that this number will remain relatively consistent with minor increases over the year’s range between 1% – 4%. For anyone looking to purchase housing in Victoria it is important to remember that totals costs will depend heavily on square footage of properties so it is wise to compare multiple properties before making any decisions. It should also be noted that while the average price per sq./ft. may remain consistent from year-to-year prices can vary drastically between individual properties due to factors such as location and type of home or condition/renovations needed).When considering rentals prices in Victoria it can range anywhere from $500 – $2,500+ CAD per month depending on size and location. The most expensive Vancouver Island rentals tend to be concentrated in larger cities such as Victoria where rental stock is very low; making it difficult for renters searching for the perfect spot in popular city centers such as downtown or greater junction areas where there has recently been an influx demand for rentals due to population growth. It should also be noted that pet fees and pet deposits are common when renting units in BC and these extra fees can take an additional $100-$200 CAD off your total monthly rent price.
Personal Opinion
Living in a beautiful area like Victoria British Columbia comes with its share of natural beauty but also many of its associated costs too – most notably when it comes to housing affordability and other everyday expenses associated with living life in the Pacific Northwest corner of Canada. Because of this reality it’s important to take into consideration all the various factors that affect cost when deciding if British Columbia is the right place to call home before committing yourself fully to making any life changing decisions. It can be easy to be tempted by the unique lifestyle opportunities and natural beauty of Canada’s Pacific Northwest but it’s important to also remember that everything comes at a price…literally!
In summary, the average cost of living in British Columbia varies drastically between petty expenses like groceries and transportation; though generally residing in BC may typically require 20-30% more money than other provinces throughout Canada (excluding Ontario). Ultimately, it becomes a personal decision; offering opportunity for savings if one takes advantage of unique local opportunities such as renewable energy sources or ride-sharing services; while also taking into account rising costs associated with low rental stock available within cities like Victoria’s very own downtown area. In any case, if one is willing to sacrifice comfort & convenience; life as an expat within this scenic Pacific Northwest corner can be both affordable & enjoyable!
To answer the question – What is the Average Cost of Living in Victoria British Columbia? – The answer is that the cost varies depending on lifestyle choices, but overall averages around 20-30% more than other Canadian provinces (excluding Ontario). Groceries cost around $200 CAD per month; utilities about $135 CAD per month; gasoline for vehicles about $150-200 CAD per month or alternatively public transit fare passes about $102 CAD per month; and housing costs from $500-$2500+ CAD per month depending on location. In addition to these figures one should consider potential pet fees or deposits associated with renting units within BC so all potential expenses should be taken into consideration before committing fully towards making a move towards residing within Vitoria BC. For more information about the Average Cost Living in Victoria British Columbia you can visit Numbeo’s website.
