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Cost of living in Vancouver

      

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2008 Housing Prices
 

Type

Price

Qualifying Household Income*

Standard Two-Storey

 $648,592 $146,739

Detached Bungalow

 $604,693 $136,706

Townhouse

 $443,988 $100,520

Condo

 $305,026 $69,851

* Based on a 25% down payment and a 25-year mortgage loan at a five-year fixed rate -excluding maintenance fees.
Source: RBC. March, 2008.

 

Date

Average House Price*

January-July 2006

$497,529

January-July 2007

$559,890
* Based on properties sold through the Multiple Listing Service.
Source: Canadian Real Estate Association. 2007.

 


 

Average Rent for Two-Bedroom Apartments in 2007
$1,084.00 per month
 Source: Canada Mortgage and Housing Corporation. 2007.
 

  

2006 Average expenditure per household
 

Concept

Annual Amount

Food

$7,685

Shelter

$15,800

Household Operation

$3,557

Transportation

 $10,586

Personal Taxes

$15,985

Source: Statistics Canada. 2008.

 

Public Transportation

Type

Ticket

Monthly Pass

1 zone

$2.50

$73

2 zones

$3.75

$99

3 zones

$5.00

$136

Special fares for Seniors, kids, and students; & Special hours

Source: Translink. GVTA. 2008.

 

2005 Average Car Insurance in British Columbia
$1,324.99 per year
 Source: Car Test .ca
 

2007 Minimum Wage
$8.00 per hour
 

Consumption Taxes
In the Vancouver (GVA), two different taxes are applied to products and services. The federal Goods and Services Tax (GST) is 6%, while the Provincial Sales Tax (PST) is set at 7.5% and applies to the selling price including the GST. Some items including groceries, restaurant meals, and books are PST exempt.
 

 

 

2007 Federal Income Tax

Net Income

Tax

Basic Personal Amount

0%

Up to $37,885

15%

Up to $72,769

22%

Up to $123,184

26%

Over $123,184

29%

Source: Canada Revenue Agency. 2008.

 

    

 

 

2006 Provincial Income Tax

Net Income

Tax

Basic Personal Amount

0%

Up to $33,755

6.05%

Up to $67,511

9.15%

Up to $77,511

11.70%

Up to $94,121

13.70%

Over $94,121

14.70%

Source: British Columbia Government. 2006

 

    
   

2008 TOTAL VIOLENT Crime Rate
Reports on crime in Vancouver
 

    
   

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