The 10 Cheapest Places To Live In BC (2024)

As the cost of living in Canada continues to rise, many Canadians are searching for more affordable places to call home.

British Columbia (BC) is renowned for its stunning landscapes, abundant nature, and proximity to lakes and the ocean. However, living in British Columbia, especially in vibrant cities like Vancouver, can be quite expensive.

But if you’re working with a tight budget and still dream of living in BC, there are smaller, more affordable towns outside of Vancouver. In this blog post, we’ll uncover the 10 cheapest places to live in BC, focusing on the delicate balance between housing affordability and quality of life.

Regardless of where you choose to live, you can still experience all the beauty and excitement that BC has to offer.

What are the Cheapest Places to Live in BC?

Before choosing where to settle down in Canada, there are numerous expenses that yu must consider, especially in British Columbia.

Beyond rent prices in BC and the overall cost of living, you must consider other factors like job opportunities and recreational activities to help you decide the cheapest places to live and raise a family in BC.

Taking all of these factors into account, here are some of the best places to live in BC for young adults and seniors. We analyzed all the cities in British Columbia and picked the most affordable places to live in BC, based on the cheapest rent in BC, the cost of living in each area, quality of life, and average household income.

The following are the 10 most affordable cities to live in British Columbia:

Prince George
Prince Rupert
Castlegar
Williams Lake
Smithers
Cranbrook
Port Alberni
Vernon
Dawson Creek
Hope

Top 10 Cheapest Places To Live In BC

1. Prince George

Average rent cost: $1,100 for 1 bedroom
The average cost of buying a house: $519,979
Cost of living: $1,202.37 (per month for a single person, without rent)
Population: 84,809

Nestled on the traditional lands of the Lheidli T’enneh First Nation, Prince George is the largest city in Northern BC and the most affordable place to live in BC, aptly named for its location where the Fraser and Nechako rivers converge.

Prince George is the hallmark of affordability in BC. The average house price hovers around $400,000. Rental costs are equally reasonable, with an average price of $1,300 for a 2-bedroom apartment.

Also, this city is a haven for outdoor enthusiasts. Prince George provides an extensive park and trail system, inviting visitors to immerse themselves in the natural beauty that surrounds them. The Fraser and Nechako rivers grace the city, enhancing its scenic appeal, while five ski hills within a two-hour drive cater to winter sports enthusiasts.

2. Prince Rupert

Average rent cost: $876 for 2 bedrooms
The average cost of buying a house: $340,645
Cost of living: 30% lower than the BC average
Population: 13,442

Perched on Kaien Island, Prince Rupert is a coastal gem, distinguished by its natural beauty and affordability, boasting one of the cheapest rent prices in BC.

The average house price in Prince Rupert is $485,000. Rental costs are equally accessible, with an average of $1,200 for a 2-bedroom apartment. In Prince Rupert, affordability meets natural splendour, creating an inviting haven for residents seeking a coastal lifestyle without breaking the bank.

Prince Rupert also serves as the terminal for ferry traffic connecting Southeast Alaska, Vancouver Island, and the Queen Charlotte Islands. The city, surrounded by the Pacific, is a haven for whale-watching and fishing enthusiasts.

3. Castlegar

Average rent cost: $1,500 for 2 bedrooms
The average cost of buying a house: $392,827
Cost of living: 30% lower than the BC average
Population: 8,992

Nestled in the Selkirk Mountains, Castlegar is the second-largest community in the West Kootenay region of British Columbia.

The city’s average house price hovers around a reasonable $427,450, making homeownership accessible. Rental costs are also budget-friendly, with a 2-bedroom apartment averaging around $1,600.

Castlegar is a haven for outdoor enthusiasts, boasting two full-sized ice rinks and many recreational options within a 30-minute radius. These include a regional and provincial park, three ski hills, four campgrounds, and five golf courses.

4. Williams Lake

Average rent cost: $665 for 1 bedroom, $776 for 2 bedrooms
Average cost of buying a house: $213,143
Cost of living: 31% lower than the BC average
Population: 11,916

Situated in the Central Interior of British Columbia, Williams Lake is the second-largest city in the Cariboo region.

The housing market in Williams Lake is notably affordable, with average house prices averaging a modest $290,000. Reflecting this affordability, rental costs are accessible, with an average of $1,267 for a 2-bedroom apartment in the city centre.

At the west end of Williams Lake lies the notable Scout Island, a nature sanctuary and park area spread across two islands connected to the mainland by a bridge. You can explore nature trails and observe small wildlife habitats.

5. Smithers

Average rent cost: $1,300 for 2 bedrooms
The average cost of buying a house: $526,000
Cost of living: 30% lower than the BC average
Population: 5,351

Nestled in the heart of Northwest BC, Smithers is a standout small town and another affordable city in BC, perfectly positioned halfway between Prince Rupert and Prince George.

Smithers isn’t just charming with its natural attractions; it’s also an affordable haven for young adults. The town’s low rent prices make it an attractive choice for those seeking an affordable yet vibrant lifestyle.

The average rent for a 3-bedroom in the city centre is C$1,900, while one-bedroom rentals cost C$1,100 in the city centre and C$800 outside the centre.

With abundant rivers and lakes, Smithers provides a playground for water activities like fishing, kayaking, canoeing, and swimming. The town is equally popular for on-land adventures, offering mountain biking, hiking, snowmobiling, and quadding opportunities.

6. Cranbrook

Average rent cost: $962 for 1 bedroom, $1,491.67 for 3 bedrooms
The average cost of buying a house: $400,000
Cost of living: 30% lower than the BC average
Population: 20,499

Situated in southeast British Columbia, on the western banks of the Kootenay River, Cranbrook is a charming and family-friendly city. As the largest city in the Kootenay Rockies, it nestles in a valley framed by the Purcell Mountains to the west and Kootenay National Park to the east.

Recognized for its distinctive craftsmanship and a wealth of outdoor activities, Cranbrook’s modest population of just over 20,000 epitomizes a small and family-friendly town in the heart of the Kootenays.

The average house price is affordable at around $475,000 for a residence nestled on a generous 1/3-acre plot. Rental costs are also within reach, averaging $1,700 for a 2-bedroom apartment in this picturesque city.

7. Port Alberni

Average rent cost: $1,350 for 1 bedroom (via 1 listing)
The average cost of buying a house: $508,188
Cost of living: 30% lower than the BC average
Population: 21,282

Nestled on Vancouver Island, Port Alberni is one of the cheapest cities in BC to call home. Situated within the Alberni Valley at the head of the Alberni Inlet, this deep port city offers more than just affordability.

Home to approximately 18,000 residents, Port Alberni maintains a mid-size city vibe, with a steadily growing population in recent years, largely attributed to its status as one of the most affordable places to live in British Columbia.

The housing market reflects this affordability, with average rents of C$1,216 for a one-bedroom apartment and C$1,933 for a three-bedroom unit.

8. Vernon

Average rent cost: $1,090 for 1 bedroom, $1,553 for 2 bedrooms
Average cost of buying a house: $686,476
Cost of living: $1,083.83 (per month for a single person, without rent)
Population: 44,519

Nestled in the Southern Interior of British Columbia, Vernon is one of the most affordable places to live in the Okanagan region, making it an appealing destination for residents seeking a cost-effective yet vibrant lifestyle.

The average house price in Vernon rests at a reasonable $692,705. Rental costs align with the city’s budget-friendly appeal, averaging at $1,500.

9. Dawson Creek

Average rent cost: $657 for bachelor, $1,000 for 2 bedrooms
Average cost of buying a house: $305,512
Cost of living: 30% lower than the BC average
Population: 10,802

Dawson Creek is one of the most affordable cities in the northeastern part of British Columbia. The city derives its name from the creek that meanders through its expanse.

Situated in the prairie landscape of Peace River County, Dawson Creek is affectionately known as the “Capital of the Peace.” What was once a modest farming community underwent a transformative shift in 1932 when the Northern Alberta Railways expanded it to the status of a regional centre.

Dawson Creek beckons with attractions such as a heritage interpretation village, an art gallery, and the N.A.R. Station Museum. Adding to its vibrant calendar, the city hosts an annual fall fair and rodeo, further enriching the community’s cultural tapestry.

10. Hope

Average rent cost: $1,500 for 2 bedrooms
The average cost of buying a house: $552,042
Cost of living: 29% lower than the BC average
Population: 6,686

Nestled at the convergence of the Fraser and Coquihalla rivers, Hope is another budget-friendly place to reside in the lower mainland of British Columbia. The town is surrounded by numerous lakes and rivers, creating an ideal setting for fishing enthusiasts and wildlife admirers.

Beyond its scenic appeal, Hope is celebrated for its affordability, offering a low cost of living. The average house price in Hope is a reasonable $590,000, presenting an accessible housing market. Rental costs also align with affordability, with an average of $1,500 for a 2-bedroom apartment.

Hope remains an attractive option, conveniently located less than 2 hours from Vancouver. Recognized for its rich history and as a backdrop for numerous movies, this suburb captivates residents and visitors alike.

What City in BC has the Lowest Cost of Living?

If you are looking for a city with low living costs in BC, you should consider Prince George. Prince George offers reasonable home prices, a good average household income, a good home price-to-income ratio, and a low unemployment rate.

The average home price in Prince George is $361,000, with an average household income of $107,200. The home price-to-income ratio is 4.91, and the unemployment rate is 6.8%. These factors collectively contribute to making Prince George an affordable place to live.

Is BC Cheap to Live in?

Unfortunately, British Columbia is the least affordable Canadian province. This is unsurprising because Vancouver, the province’s largest city, emerged as the country’s least affordable city.

In British Columbia, the average estimated expenditure per household was $79,591. In comparison, the median after-tax income for an economic family is $97,800. This results in an income-to-expense ratio of 1.23, ranking BC as the least affordable province in Canada.

Contrastingly, Quebec has the best ratio among the Canadian provinces, boasting a more favourable income-to-expense ratio of 1.5. This is achieved through a combination of lower household expenditures ($59,770) and a slightly lower median after-tax income ($89,400).

What is the Average Rent in BC?

According to Rentals.ca, the average listed rent in BC is $2,675. The average listed rent across all 10 provinces is $2,046. Ontario is the next highest, with an average listed rent of $2,496, while Saskatchewan records the lowest average at $1,102 per month.

Notably, the impact of rent increases has been particularly pronounced in Canada’s two most expensive markets—Toronto and Vancouver. Across all Canadian provinces, the annual rent has surged by more than 24%, underscoring the challenges renters face in these high-demand areas.

Most Affordable Place to Retire in BC

Here are the top three affordable and serene places to retire in British Columbia that offer a perfect blend of tranquillity and affordability:

Peachland: Nestled in the Okanagan, Peachland stands out as an ideal retirement destination with a cost of living 21% lower than the rest of BC. This picturesque town offers many amenities, including shops, wineries, restaurants, and bars. Residents can enjoy a variety of water sports, boating, fishing, and other outdoor activities amid the stunning scenery.
Sunshine Coast: With a cost of living 12% lower than the provincial average, the Sunshine Coast provides a quiet and secluded environment for retirees. Accessible by ferry, this coastal haven is near local businesses, restaurants, and outdoor activities such as fishing. While the journey might take some time, the peace and lower cost of living make it an attractive retirement option.
Comox Valley: Known for its outdoor lifestyle, Comox Valley boasts a low cost of living and is a haven for fishing, hiking, and boating enthusiasts. This town is located on Vancouver Island and offers beautiful views and a mild climate. While a ferry is required to get there, the tranquil and desired ambience of Comox Valley makes it a noteworthy choice for retirement.

Final Thoughts on Cheapest Places To Live In BC

After exploring the hidden gems of British Columbia, it’s clear that there are small, affordable and delightful places to live. These towns offer cost-effective living and present a canvas of picturesque landscapes and vibrant communities.

Whether you’re captivated by the lower cost of living with its abundance of amenities, drawn to the secluded tranquillity, or enticed by the outdoor paradise, there’s a perfect fit for everyone in BC.

So, if you’re ready to embark on a new chapter of affordable living and scenic tranquillity, consider making one of these charming towns your next home.