Top 5 Cheapest Places to live in Vancouver with the Best Quality of Life - 2024
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Cheapest Places to live in Vancouver

Top 5 Cheapest Places to live in Vancouver with the Best Quality of Life - 2024

Ranking Studies
Canada
British Columbia
Vancouver
  • Last updated on:
  • Picture of Ann Nacario Ann Nacario

Vancouver, like many major cities, has experienced urbanization and population growth. Its natural beauty, mild climate, strong economy, and diverse culture make it highly desirable, further driving up housing demand and prices.

When moving to Vancouver, finding affordable and attractive places can be challenging. The title of our article does indeed mention Vancouver, but it’s too expensive, so it doesn’t fit our quality of life methodology. Instead, we’re focusing on areas in the Greater Vancouver Area that offer more affordable options.

Read on to discover the top cheapest places to live in Metro Vancouver with the best quality of life this year.

Methodology

We based our ranking of the cheapest places to live in Greater Vancouver on the average cost of buying a property, the average rent for a 1-bedroom apartment, and the quality of life. Statistics for the average cost of buying a property come from Realtor.ca, while the average rent for a 1-bedroom apartment is sourced from Zumper.

The “Best quality of life” aspect is measured based on feedback from individuals who have moved to this area as recorded in our database, or from reputable online forums. Specifically, we consider positive feedback on job opportunities, the quality of education, healthcare, safety, public transportation, environmental cleanliness, and the availability of recreational facilities and parks.

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Cheapest Places to live in Metro Vancouver

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1. Surrey

  • Perfect balance between urban conveniences and suburban peace
  • Average cost of rent for 1-bedroom apartment: $1,888
  • Average cost of buying a property: $999,100

Surrey, located in the southeast of Greater Vancouver, is the region’s largest city by land area and the second most populous, with 568,322 residents. Offering more affordable housing options compared to Vancouver—despite both areas having high living costs—Surrey is an appealing choice for those seeking a more cost-effective lifestyle.The city provides a diverse range of housing, from condominiums and apartments to single-family homes, catering to various preferences. Surrey enhances residents’ quality of life with access to over 200 parks, trails, and outdoor spaces. Combined with its strategic proximity to Vancouver, it’s an excellent option for commuters working in the city.

Realtor (Sept 2024) & Zumper (Sept 2024)

 

  • Content verified by a local expert
Darin Germyn
Darin GermynReal estate agent at Macdonald Realty

“Surrey offers all the best of living in the Lower Mainland, from its significantly lower housing prices compared to most other Metro Vancouver areas, to its central location and ease of mobility. Many residents love living in Surrey, nicknamed the “City of Parks,” because of its diverse population, temperate climate, excellent city services, and more. Plus, it’s great for all ages, especially young families looking to start their real estate journey.”

Surrey, British Columbia

2. Langley

  • Best for a family-friendly atmosphere
  • Average cost of rent for 1-bedroom apartment: $2,066
  • Average cost of buying a property: $999,100

The City of Langley, located east of downtown Vancouver, offers a range of housing options, including single-family homes, apartments, and condominiums. Known for its family-friendly atmosphere, Langley features numerous parks, trails, community centers, and well-regarded public schools such as Alice Brown Elementary School and Langley Senior Secondary. Additionally, Trinity Western University, Canada’s largest privately funded public university, adds a notable higher education dimension to the city.

Realtor (Sept 2024) & Zumper (Sept 2024)

 

Langley, British Columbia

3. New Westminster

  • Easily accessible from Downtown Vancouver
  • Average cost of rent for 1-bedroom apartment: $2,197
  • Average cost of buying a property: $1,197,700

New Westminster, a vibrant cultural hub in Metro Vancouver, boasts a rich history and a wide array of attractions, from food and shopping to arts and live entertainment. Conveniently located along the Lower Fraser River, the area offers easy access by car or transit to Downtown Vancouver, YVR International Airport, BC Ferry Terminals, and the US border.With a thriving arts community and a dynamic international food scene, there’s always something new to explore. Locals frequent popular spots like River Market, Queensborough Landing Outlet Mall, Rick Bronson’s House of Comedy, and Industry Arcade. Families can enjoy the area’s many green spaces, including Tipperary Park, Westminster Pier Park, Quayside Park, and Albert Crescent Park.

Realtor (Sept 2024) & Zumper (Sept 2024)

 

New Westminster, British Columbia

4. Coquitlam

  • Best for outdoor enthusiasts
  • Average cost of rent for 1-bedroom apartment: $2,198
  • Average home price: $1,197,700

Coquitlam, located just east of Vancouver in the Greater Vancouver area, offers a harmonious blend of urban and suburban living. Boasting over 80 parks and a 134-kilometer trail system, it’s a haven for outdoor enthusiasts, providing abundant opportunities for hiking, biking, and wildlife viewing. Popular attractions like Como Lake Park and the Coquitlam Crunch Trail further enhance its charm.The city’s diverse population and variety of housing options, from modern condominiums and apartments to single-family homes, make it an attractive place to live for people from all walks of life.

Realtor (Sept 2024) & Zumper (Sept 2024)

 

  • Content verified by a local expert
Kris Kereluk
Kris KerelukReal estate professional with Sutton Group – West Coast Realty

“As an expert in the area, I agree that Coquitlam is a harmonious blend of urban and suburban. Located in the heart of metro Vancouver, the proximity of Coquitlam to other city centres provides a functional homebase for those working in Greater Vancouver and the Lower Mainland. Easily accessed by Skytrain, West Coast Express and several highways, Coquitlam is one of BC’s fastest growing communities striking a balance between density and tranquility.”

Coquitlam, British Columbia

5. Port Moody

  • Ideal for community-minded families and those who appreciate both nature and the arts
Port moody bc
  • Average cost of rent for 1-bedroom apartment: $2,345
  • Average cost of buying a property: $1,197,700

Port Moody offers so much more than just hiking—it’s one of Vancouver’s most affordable places to live, with an exceptional quality of life! This vibrant city provides year-round activities, from scenic trails and kayaking on Burrard Inlet to picnics at Rocky Point Park. Locals enjoy community events like the Fingerling Festival in May and Golden Spike Days in July, as well as a thriving arts scene with installations throughout parks and pathways. With over 35% of its land dedicated to green space and 56 kilometers of trails, Port Moody is perfect for outdoor enthusiasts. Its proximity to the other Tri-Cities and Burnaby allows residents to enjoy urban amenities, including the lively Brewery District, while staying connected to nature. Port Moody’s affordability, strong sense of community, and family-friendly amenities make it one of the best places to live in the Vancouver area.

Realtor (Sept 2024) & Zumper (Sept 2024)

  • Content verified by a local expert
David Reimers
David ReimersReal estate agent at Royal LePage West Real Estate Services

“As a local realtor with extensive experience and knowledge of the area, I can confidently say that Port Moody offers a unique sense of community along with affordable living options, making it ideal for community-minded families and those who appreciate both nature and the arts. Despite its growth, Port Moody retains its small-town charm, featuring local shops and businesses that provide affordable services and goods to residents and visitors alike. With new developments enhancing the area and affordable access to amenities like the Evergreen Skytrain line, now is the perfect time to consider making Port Moody your home before property values rise.”

Port Moody, British Columbia

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Conclusion

If you’re considering a move to Vancouver, it’s important to be aware that Vancouver is a desirable city to live in due to its natural beauty, mild climate, strong economy, and diverse culture. This leads to high demand for housing, further driving up prices. Opting to live in these neighboring areas not only allows you to enjoy its natural landscapes while saving on living expenses but also provides you with the best quality of life.

Are you moving to Vancouver soon? Check the best moving companies in Vancouver for a stress-free move.

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Ann Nacario

The author

Meet Ann – our head writer with a knack for making moving and city living a breeze. From the many details of moving to picking the perfect moving company, she’s your guide. Ann has a friendly yet detailed approach to ensure your move goes off without a hitch. When she’s not writing about relocation, it will always be on her mind, but you’ll catch her spending time with her three furry friends.

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