Yearly salary to live "comfortably" in Vancouver

[UnhappyPerson]

How much does one have to make a year to live alone comfortably at the expenses of:


-rent
-food
-gas/insurance for 1 car
-internet/tv/cellphone
-entertainment

Sorry if this was posted before, but I'm just curious.

[gizmo8]

My buddy been living in Vancouver for the last 10 years and he makes less than $40k...He loves the outdoors so he doesnt own a expensive car,he cooks all his own meals,his friends arent superficial so they play more sports and camp than going to bars and clubs.Rents a $1100 a month apartment in a Surrey....never heard him once complain about how expensive Vancouver is...most of the stories you hear about asian money flooding into real estate doesnt affect the working blue collars that much,just they cant afford to buy a house or condo but still able to rent at a reasonable price.

[Buggy166]

cheaper than living in Toronto, slightly. owning real estate during the bubble is a hard proposition for the actual locals who are the younger generation, 30s and lower. 40-50k is what ur looking at.

[HandsomeRob]

Rent - $1000
Gas/ICantBelieveTheCost - $400
Food - $300
Hydo/TV/Internet/Cell - $200
Entertainment - $250

$2150 x 12 = $25,800

I guess thats round $33-35,000 gross?

[sandikosh]

My buddy been living in Vancouver for the last 10 years and he makes less than $40k...He loves the outdoors so he doesnt own a expensive car,he cooks all his own meals,his friends arent superficial so they play more sports and camp than going to bars and clubs.Rents a $1100 a month apartment in a Surrey....never heard him once complain about how expensive Vancouver is...most of the stories you hear about asian money flooding into real estate doesnt affect the working blue collars that much,just they cant afford to buy a house or condo but still able to rent at a reasonable price.

Girlfriends? Boyfriends? Or lonely?

[stuntman]

as alluded too comfortably at 20 is different than at 25, 30 , 40........

[yao416]

Id say $100k for an unhappy person.

[Drew87]

How much does one have to make a year to live alone comfortably at the expenses of:


-rent
-food
-gas/insurance for 1 car
-internet/tv/cellphone
-entertainment

Sorry if this was posted before, but I'm just curious.

I'd say it's subjective........It depends how materialistic you are, what your interests are, what your hobbies are, what you enjoy doing, etc.......

Personally, after rent/mortgage and food everything in life is optional.....

[92gsr]

If you want to live a typical yuppie urban lifestyle, here's a rough breakdown:

Rent: 1200-1500 for a 1 bedroom apartment in the downtown core. The lower end will get you a place in an older building in the West End; the higher range will get you a place closer to Yaletown.

Food: If you're living downtown, food won't be cheap. Expect to spend around 400-500, especially if you eat out a couple of times a week.

Car: If you don't plan on spending much time outside downtown, you can probably get away with a budget of around $300 if you drive an older Japanese car with a 4-banger. Or, you could do without a car altogether and use car-sharing services like Zip car, or Car2Go for those rare instances you need a set of wheels. On the other hand if you want to escape the city and truly live a west coast lifestyle, you better have a good set of friends with wheels...

Utilities: Many rental properties include heat, so all you'll need to pay for is cable, internet and phone. I'd say $150.

Entertainment: It all depends what you do for fun. Most people who live here enjoy the outdoors and depending on what you like doing, it could be fairly cheap (hiking) or expensive (skiing or snowboarding.)

So, excluding entertainment, you're looking at a minimum of $2100 per month to live here. Basically, you should be making in the mid-50's to live comfortably here (and if you have no intention of settling down here.)

[HandsomeRob]

Downtown Vancouver < $1000

http://oi48.tinypic.com/14neptt.jpg

Rent just doesn't cost that much unless it's a coal harbor penthouse. Richmond costs more.

[92gsr]

^ You have "rooms/shares" checked off. Most people would be hard-pressed to find a 1 bedroom apartment in the downtown core for less than $1000 unless it's a piece of crap, bed bug infested dwelling. You can find studios in that range however.

Now if you're not opposed to having a roommate, you can easily find places to rent for less than $600 a month...

[DVDManiac]

I guess many of you don't buy clothes. If you plan to rent for the rest of your life, $40,000 is a good number but if you want to own any property, I would think easily $100,000+ unless you had help for a down payment for an apartment. The real estate prices are crazy, recently heard that a person with a 2 bed and den on the fourth floor was asking $1,250,000 near our City Centre but not downtown core.

[manixc]

I would say $40k for the bare minimum; $45k if you want to save some money.

[Rainne]

If you don't want to own property, eat out, or buy clothes, let alone raise a family, I guess $40k/yr would be okay.

This is like Toronto too LOL

[Supercooled]

Live within your means. Sure, I can get a nice $1000 apt. in a nice neighbourhood but that accounts for almost 50% of my income, or I can make sacrifices and get one for $500 and drastically reduce my cost to 25%. Save that other 25% and within a few years, you're looking at something quite substantive allowing you the freedom o invest, home or stocks.

You would be lucky to be making $2000 net in this economy if you're a blue collar worker. If you're a white collar worker and clearing $3-4,000 a month and still complain bout not able to save for a home, then clearly you're doing something wrong.

[92gsr]

Live within your means. Sure, I can get a nice $1000 apt. in a nice neighbourhood but that accounts for almost 50% of my income, or I can make sacrifices and get one for $500 and drastically reduce my cost to 25%. Save that other 25% and within a few years, you're looking at something quite substantive allowing you the freedom o invest, home or stocks.

You would be lucky to be making $2000 net in this economy if you're a blue collar worker. If you're a white collar worker and clearing $3-4,000 a month and still complain bout not able to save for a home, then clearly you're doing something wrong.

If you have a 5-year plan and save $6000 per year, you're not looking at much unless you win the "lottery" and say double your worth. Even if you manage a 25% return, you're looking at 40K when you're done which isn't a lot of money. I suppose you could plop down that money on a studio in Surrey (if they build such things.)

Besides, you can't get any single person dwelling in metropolitan Vancouver for $500 unless it's literally a toilet and a room in someone's basement that is far away from transit.

Honestly, there's nothing wrong with renting long-term in Vancouver. We have laws that favour tenants (increases are tied to inflation) and there's lots of stock to choose from as long as your budget is reasonable ($1000-1500 per month.)

[Becks]

It's possible to rent a basement in Vancouver for $500 that is near transit!!!!!! Look around my neighbourhood!

You don't need to spend a lot on gas if you bike, walk, or take the bus. That is what I do, and cash in air miles certificates on Shell gas.

If you want free internet, just use someone else's wifi signal!

[AnimeEd]

You guys are forgoting the need to save for retirement.

[Supercooled]

You guys are forgoting the need to save for retirement.

scary isnt it?

[Agafaba]

You guys are forgoting the need to save for retirement.

If you have to find creative ways to live today you cant exactly afford to put money towards living tomorrow.

[iEyeCaptain]

my cumpare makes $250k. just enough to support his wife, three mistresses and his yellow lambo.

[Buggy166]

You guys are forgoting the need to save for retirement.

i dont know of anyone under the age of 80 in my family that has stopped working. My grandfather is 82 and giving University lectures and writing science based papers. My older aunt has her own mini business set up and everyone else does their own thing. Retirement is a north american thing. Just because you wanna relax doesnt mean you'll do nothing for the other 20-30 yrs of your life but sit in a bed and spend money on meds. You dont stop having a sizeable income at retirement age.

[T3NSION]

Downtown Vancouver < $1000

http://oi48.tinypic.com/14neptt.jpg

Rent just doesn't cost that much unless it's a coal harbor penthouse. Richmond costs more.

Richmond costs more? Really?

[kabza]

If you have a 5-year plan and save $6000 per year, you're not looking at much unless you win the "lottery" and say double your worth. Even if you manage a 25% return, you're looking at 40K when you're done which isn't a lot of money. I suppose you could plop down that money on a studio in Surrey (if they build such things.)

Besides, you can't get any single person dwelling in metropolitan Vancouver for $500 unless it's literally a toilet and a room in someone's basement that is far away from transit.

Honestly, there's nothing wrong with renting long-term in Vancouver. We have laws that favour tenants (increases are tied to inflation) and there's lots of stock to choose from as long as your budget is reasonable ($1000-1500 per month.)

renting long term = serfdom

[kabza]

i dont know of anyone under the age of 80 in my family that has stopped working. My grandfather is 82 and giving University lectures and writing science based papers. My older aunt has her own mini business set up and everyone else does their own thing. Retirement is a north american thing. Just because you wanna relax doesnt mean you'll do nothing for the other 20-30 yrs of your life but sit in a bed and spend money on meds. You dont stop having a sizeable income at retirement age.

work till you croak, sounds like more fun.

[gizmo8]

Girlfriends? Boyfriends? Or lonely?

you want his phone #???..LOL.....

[92gsr]

renting long term = serfdom

That's pretty ignorant. I'm actually an owner myself (of a shoebox in the sky) and if I were moving to Vancouver now, I would definitely rent. There's way too much supply here, especially of 1-bedroom and 2-bedroom condos. The people buying condos now are either speculators or people from Asia who only buy brand new units. What happens if you need to sell your condo in 2-3 years? Who's going to pay 350K for 600 square feet? (This is the going rate for 1-bedrooms in my building right now)

I would definitely consider a detached house if I could afford one (because you actually own something as opposed to a few hundred square feet of air.) Unfortunately, for most single people in their 20s, buying one is but a pipe dream.

[Supercooled]

lol ar shoebox in the sky. aptly put.

[Kami19]

That's pretty ignorant. I'm actually an owner myself (of a shoebox in the sky) and if I were moving to Vancouver now, I would definitely rent. There's way too much supply here, especially of 1-bedroom and 2-bedroom condos. The people buying condos now are either speculators or people from Asia who only buy brand new units. What happens if you need to sell your condo in 2-3 years? Who's going to pay 350K for 600 square feet? (This is the going rate for 1-bedrooms in my building right now)

I would definitely consider a detached house if I could afford one (because you actually own something as opposed to a few hundred square feet of air.) Unfortunately, for most single people in their 20s, buying one is but a pipe dream.


im 22, make 45k a year(just did the math it sure seems like a lot less), My girlfriend and I own an apartment in New West right by the skytrain. 1br 750sqft. But her mother gave us a rather large downpayment(50%+). buying one myself would be a pipedream for sure.

[konfusion666]

That's pretty ignorant. I'm actually an owner myself (of a shoebox in the sky) and if I were moving to Vancouver now, I would definitely rent. There's way too much supply here, especially of 1-bedroom and 2-bedroom condos. The people buying condos now are either speculators or people from Asia who only buy brand new units. What happens if you need to sell your condo in 2-3 years? Who's going to pay 350K for 600 square feet? (This is the going rate for 1-bedrooms in my building right now)

I would definitely consider a detached house if I could afford one (because you actually own something as opposed to a few hundred square feet of air.) Unfortunately, for most single people in their 20s, buying one is but a pipe dream.

350k for 600 sq ft is not too far off the going rate for Toronto downtown. But I hardly think it's a foregone conclusion that prices will come crashing down in 2-3 years. If you actually do believe that - and you really ARE a condo-owner - the rational thing to do would be to sell now and park your money in equities ;)

[Supercooled]

If you have to find creative ways to live today you cant exactly afford to put money towards living tomorrow.

That is possibly the bleakest insight I've read in a long while.

[92gsr]

350k for 600 sq ft is not too far off the going rate for Toronto downtown. But I hardly think it's a foregone conclusion that prices will come crashing down in 2-3 years. If you actually do believe that - and you really ARE a condo-owner - the rational thing to do would be to sell now and park your money in equities ;)

For the record, I got in the market in 2005 and my 2-bedroom unit cost less than 300K. I am a stone throw away from the Skytrain and even if the market experiences a correction of say 30%, I will be okay. I have no reason to sell since my lifestyle is in line with my living arrangement.

But, I wouldn't buy a condo in Metro Vancouver today.

[jacksorbetta]

Living in the downtown core is a pipedream for most people. I have friends who live 3 to a 1 bd apartment off Robson... for the measly rent of $2200 a month. I think it's absurd, but these folks work downtown, party downtown, and love the area. Not that it's much cheaper in other areas. The average sale price for a detached 3 bedroom cookie cutter near me is $500k +. And that' in the serious burbs.. I paid way too much for my house, but comparable places for rent are about $300-400 more per month. Doesn't make sense to rent.

I'd say to live fairly comfy, on a single salary (without huge debt) you need $60k +, more if you have kids. Groceries alone are a budget killer... not to mention gas cost! ($1.482 a litre today :-0)

[samberkun]

lol why would you even want to live in the the DT core anyway… if you are single you can easily find a nice place for around 900$ to rent in Kits, Main, Commercial, Lonsdale ect ect

[invisible]

I live in a 1 bedroom, 1 bathroom (alone) in Yaletown. Here are my expenses every month (if you're looking for something realistic):

RENT: $1300/month
APARTMENT INSURANCE: $33/month
TV/INTERNET/CELL PHONE: $150/month
MEDICAL (Oh, the joys of being a freelancer..): $65/month
CAR INSURANCE: $197/month (includes collision)
GAS FOR CAR: $50/month (this is a high estimate... you're able to walk just about everywhere here or take cheap public transit... if you ask me, you shouldn't even have a car here. I regret having mine...)
GROCERIES (FOR MYSELF): $250/month
PURCHASES (EATING OUT, DRINKING OUT, ACTIVITIES, BUYING CLOTHES/ITEMS): $600/month

Total expenses at $2645.00/month. I don't recommend the downtown lifestyle unless you're making at least $3000/month after taxes. I'm sure it can be done if you're willing to have a roommate(s), and if you're modest with your recreational spending. I unfortunately do not have such restraints!

[1010101010101]

PURCHASES (EATING OUT, DRINKING OUT, ACTIVITIES, BUYING CLOTHES/ITEMS): $600/month

Wow you must be one of those rich people on RFD

[badmus]

PURCHASES (EATING OUT, DRINKING OUT, ACTIVITIES, BUYING CLOTHES/ITEMS): $600/month

Wow you must be one of those rich people on RFD
That comes to about $20 a day which seems reasonable if you eat out once a day and maybe do one or two clothing upgrades a month

[chriskanaan]

Live within your means. Sure, I can get a nice $1000 apt. in a nice neighbourhood but that accounts for almost 50% of my income, or I can make sacrifices and get one for $500 and drastically reduce my cost to 25%. Save that other 25% and within a few years, you're looking at something quite substantive allowing you the freedom o invest, home or stocks.


I agree with your logic here totally, but the only option for a "$500" apartment is to either live / share rent with a friend, or rent a room.

It's imperative to live marginally and save your money if one ever wishes to get ahead, especially in a city like Vancouver. Suffer!



You would be lucky to be making $2000 net in this economy if you're a blue collar worker. If you're a white collar worker and clearing $3-4,000 a month and still complain bout not able to save for a home, then clearly you're doing something wrong.

My friend didn't spend a day in college and for the past 3-years he's clocked over 100k in Alberta as a 'measly' pipefitter.

Strategic thinking; if you are a blue collar go out west. If you are white collar, T.O or Vancouver generally have better choices.

Though I think the salaries in Vancouver do not match up to the cost of living whatsoever. It is a beautiful city, but way too pricy for a Joe.