If you’re considering a move to Vancouver Island, you may be wondering about the cost of living. Here’s a breakdown of some common expenses to help you budget for your new life on the Island.
Housing: Vancouver Island is home to some of the most expensive real estate in Canada, particularly in cities like Victoria and Nanaimo. Prices have been rising steadily in recent years, so expect to pay well over $1,400/month for a one-bedroom apartment. If you’re looking to buy a house, be prepared to spend at least $600,000.
Transportation: With most cities and towns being located along the island’s coast, having a car is essential for getting around. Gas prices are similar to what you’ll find on the mainland, but depending on where you live, public transit may not be an option. If you are planning to rely on public transit, make sure to check the schedules and routes before making the move.
Food and groceries: Food costs on Vancouver Island are similar to what you would find in any other Canadian city. Expect to spend around $500/month on groceries for one person. Eating out can be expensive, especially in tourist areas like Victoria’s Inner harbour.
