The Pros and Cons of Vancouver Living in 2024 - Is it the Right Choice for You?
It’s not hard to see why Vancouver consistently ranks as one of the best cities to live in the world. Its high quality of life, great healthcare system, and abundance of job opportunities attract people from all over the world. Yet, with any major decision such as relocating to a new city or deciding where you want to buy a home, weighing the pros and cons is a must.
Here, we’ll take an in-depth look at both the benefits and drawbacks of living in Vancouver in 2024. As a top Vancouver realtor, I hope to shed some light on the factors to consider when deciding whether or not this is the right place for you to call home.
Pro: Diverse Cultures
Anyone who steps foot in Vancouver will quickly realize it’s a melting pot of cultures and experiences. From the busy Chinatown to colourful Punjabi Markets, there’s always something new to explore and learn here. The arts, music, and food scenes have mixed influences from across the globe, giving the city its international vibe.
Thanks to its wide range of cultures, Vancouver’s reputation is one of diversity and inclusivity. Overall, most people feel comfortable sharing their heritage, contributing to the city's vibrant multicultural identity. If this is something that resonates with you, Vancouver may be an ideal place for you to live in 2024.
Pro: No Shortage of Outdoor Recreation
It’s no secret that one of the biggest draws for living in Vancouver is its proximity to nature. The city is surrounded by mountains, forests, and beaches, providing endless opportunities for outdoor recreation — from hiking to kayaking or paddleboarding in the summer. This makes it a perfect place for those who love being active and spending time outdoors.
Pro: Strong Job Market With Plenty of Opportunities
Vancouver is a hub for industries like finance, real estate, technology, tourism, and professional services. This provides plenty of opportunities for lucrative employment for its residents. Jobs in these sectors often come with a variety of potential growth opportunities, reflecting the city's position as a key player in the Canadian economy.
In addition to the opportunity for career advancement, many employers offer competitive salaries and benefits that enable residents to enjoy a comfortable standard of living in one of Canada's most desirable cities. The average salary in Vancouver falls around $68,249 per year, which translates to approximately $35 per hour.
Pro: High-Quality Healthcare
Another pro of living in Vancouver is its quality healthcare system. The city is home to some of the top-ranked hospitals and medical facilities in Canada. As a B.C. resident, you gain access to medical services without having to worry about high costs or insurance premiums. As long as you live in the province for six months of the year or more, you can qualify for BC MSP.
Pro: Excellent Education Systems
When it comes to education systems, Vancouver ranks highly with some of the best public and private schools for all ages. It’s also known for its prestigious universities like the University of British Columbia (UBC) and Simon Fraser University (SFU). These institutions attract students from all over the world due to their academic excellence.
Pro: You Don’t Have to Know French
Unlike other major Canadian cities, like Montreal or Ottawa, knowledge of French isn’t necessary for most jobs in Vancouver. If you’re thinking of moving to the city but don’t understand French, rest assured you’ll have no problem navigating daily life in Vancouver.
Although English is widely spoken throughout the city, one of the perks of the Vancouver school systems is that they do integrate French as well. So, if you’re moving to the city with kids, they’ll have the opportunity to learn the language from a young age.
Pro: The Climate is Milder Than the Rest of Canada
Compared to many other Canadian cities that experience harsh winters with heavy snowfall, Vancouver generally enjoys mild weather year-round. Its coastal location near the Pacific Ocean brings plenty of rainy days during the fall and winter season but temperatures rarely dip too far below freezing — even in the coldest months. Because of this, living here means you’ll get to enjoy plenty of outdoor activities year-round.
Pro: Easy Commute Without a Vehicle
No vehicle? No problem. Vancouver’s public transportation system makes it easy to get around. Whether you’re commuting to work or looking to explore the city, there’s likely a Skytrain line or bus route to get you there. The public transportation network is constantly expanding and improving, with plans for new Skytrain lines out to Langley in the works.
Con: High Cost of Living
One of the biggest drawbacks of living in Vancouver is its high cost of living. The city consistently ranks as one of the most expensive cities in Canada, with housing prices being a major contributor to this. The average cost of a detached home in Vancouver is over $1 million, making it difficult for many people to afford to buy property.
Con: Overcrowding May Become an Issue
Downtown Vancouver is Canada’s most densely populated city centre. Overcrowding may become more of an issue within certain areas of Vancouver as time goes on. This is primarily because of its popularity and being such a desirable place to live.
This increased population density can lead to more congestion on the roads and public transit systems, longer wait times for medical appointments, and overcrowded classrooms in schools. Unfortunately, this strain can reduce the quality of life for some residents.
Con: High Competition for Housing Rentals
The dense population also affects those looking to rent in such a competitive rental market. It’s even more difficult to find suitable housing in Vancouver for those who are low-income, students, or even young professionals who can’t afford a downpayment on a house just yet.
To live in the downtown area, rent is high — sometimes even for a tiny apartment or a shared room. As of January 2024, Vancouver residents pay an average of $2,975 per month to rent a 1-bedroom apartment. This is more than double the national average.
Con: Traffic Can Be a Nightmare
Because of the high population density, traffic congestion is another challenge that comes along with living in Vancouver. As more people move into the city, there has been an increase in urban sprawl leading to longer commute times and crowded public transportation. This can make it difficult to get around the city efficiently while driving. The same can be said for taking an Uber or taxi! This is why many people choose to live and work in downtown Vancouver while skipping owning a vehicle altogether.
Con: It Rains Often
While this may not apply to everyone, one factor that can negatively impact some individuals is the rainy climate in Vancouver. While winters are mild compared to other Canadian cities, there tends to be a lot of rain throughout the year which can affect outdoor activities and mood during certain months. The city is called ‘Raincouver’ for a reason.
On the other hand, if you prefer curling up with a hot drink and a good book or a Netflix marathon over the outdoors, the rainy climate could be seen as a plus.
Making the Right Decision for You — From a Vancouver Realtor
We tell the same thing to everyone weighing the pros and cons of buying real estate in Vancouver — your personal and career goals should be at the forefront of the decision. Consider if the city aligns with your professional aspirations and if there are opportunities for growth in your field. We also recommend thinking about how living in Vancouver may impact your personal life, such as being closer or farther from your family and friends.
Other key factors to consider are your financial resources and what your budget will allow. Since the cost of living is high, it's essential to have a solid grasp of your financial situation and whether you can afford housing, transportation, groceries, and other expenses associated with living in the city.
Lastly, your future plans are another important consideration when thinking about moving anywhere new. Think about how long-term this decision is – do you see yourself staying in Vancouver for several years? Will this location support your future career goals? Answering these questions will help you decide if Vancouver is the right place to call home.
Get in Touch With the Most Recommended Vancouver Realtor Today!
Are you ready to embrace Vancouver living?
With hundreds of homes sold under our belt as Vancouver realtors, our team at Vuppie Real Estate has helped countless people purchase property in this beautiful city. But our passion for real estate extends far beyond selling property — what gives our work true meaning is being able to help people make the transition they never thought possible.
Ultimately, only you can determine if Vancouver is the right fit for your lifestyle and career aspirations.
If you do decide that purchasing property here is part of your future plans in 2024, reach out to us at Vuppie Real Estate today, so we can guide you through the process with ease. As the most recommended Vancouver realtor and a native of the city, I have extensive knowledge of the market here. Let’s land you the home of your dreams!
