When people decide to relocate, one of the many things they consider is the cost of living. Even tourists do the same to get a good idea of how much budget to put aside for the trip.
If you plan to move to Kelowna, you probably think about the same thing. After all, money matters wherever you live, and it’s important to know if your income can pay for your new living arrangements.
So, what’s Kelowna’s cost of living?
It’s lower compared to Metro Vancouver due to several factors.
- Lower housing cost
- Lower house prices
- Lower car insurance cost
In fact, residents in Kelowna save as much as 40% compared to people living in Vancouver. In 2017, when major Canadian cities where ranked the most expensive based on price index, Kelowna ranked 14th with a 143 price index, while Toronto, Vancouver, and Calgary took the top 3 spots at 178, 174, and 165 price indices, respectively.
How much are you going to spend in Kelowna exactly?
Online sources such as Numbeo and Expatistan listed the prices for some of the following:
- C$22 = Basic lunch meal in the business district
- C$16.38 = Meal at an inexpensive restaurant
- C$55 = Meal for 2 people at a mid-range restaurant
- C$3,826.83 = Price per square meter of an apartment for sale in city center
- C$3,194.57 = Price per square meter of an apartment for sale outside of city center
- C$2,194 = Rent per month for a furnished 85-m2 accommodation in an expensive area
- C$1,837 = Rent per month for a furnished 85-m2 accommodation in a normal area
- C$1,581 = Rent per month for a furnished 45-m2 accommodation in a expensive area
- C$1,157 = Rent per month for a furnished 45-m2 accommodation in a normal area
- C$137.47 = Monthly rate for basic utilities (Electricity, Heating, Cooling, Water, Garbage) in an 85-m2 apartment
- C$80.62 = Monthly rate for internet connection at 60 Mbps or more with unlimited data, Cable/ADSL
- C$2.50 = Cost of local transport one-way ticket
- C$70.00 = Regular price for a monthly pass
- C$3.50 = Normal tariff for the start of a cab ride and charges 2.25 every kilometer.
- C$1.38 = Cost of gasoline per liter
The prices listed above was updated this June and are based from 107 different contributors over the past 18 months.
If you look up price comparisons with Vancouver for the items listed above, you will clearly see a huge difference.
What about the quality of living?
Some places are affordable but with low quality of living.
This is not the case in Kelowna.
Locals swear that they not only get better value for their money, but they also enjoy a higher quality of life. In Kelowna, you get:
- A nicer neighborhood
- Better property options and new homes
- Weather that is sunny and warm
- Picturesque landscape
- Plenty of opportunities to live an active and healthy lifestyle
Long and short of it, the cost of living in Kelowna is affordable yet higher quality. You couldn’t ask for more, right?