Since Vancouver is one of the least affordable cities in the world, nearby Richmond could be an attractive option for your budget. To find the average Richmond cost of living, we used data from Numbeo – which uses crowdsourced information to compare the cost of living in cities.
We broke down the realistic monthly costs that a renter in Richmond will have to cover on their own.
Richmond cost of living
1. Housing costs in Richmond
Numbeo puts the average cost of a one-bedroom apartment in central Richmond at $1,881.25 per month. That’s a lot less than what you’ll pay in Vancouver, where the average rent in the city centre is $2,238.56.
2. Utility costs in Richmond
The cost of basic utilities – think BC Hydro bills to cover your heating and electricity – average $158.50 per month for a 900-square-foot apartment.
Internet costs have an average monthly price of $81.94.
Note that sometimes utility costs are included in rental agreements, so this figure will be different for everyone.
3. Phone costs in Richmond
Prices in the Canadian wireless market are the highest in the world according to a telecom analyst report
For 100 GB of data, the monthly cost of having a smartphone is $117.25.
4. Transportation costs in Richmond
Richmond is diverse with neighbourhoods that are walkable and highly connected to transit and areas where locals need cars to get by.
We will estimate a two-zone monthly transit pass ($134) plus the cost of one tank of gas ($100) to create an estimated monthly transit cost for living in Richmond.
5. Groceries costs in Richmond
Adding Numbeo’s average Richmond prices for basic grocery items, if purchased once a week, comes to a monthly average of $368.64.
The grocery items include milk, rice, bananas, cheese, and chicken – essentially just the basics.
6. Dining out costs in Richmond
So, if you go out to eat once a week with a friend and pick up the tab, you’re spending $280 per month.
Your true monthly cost of eating out (and, let’s be real, ordering food delivery) will vary greatly depending on your taste and lifestyle.
7. Entertainment costs in Richmond
Your average movie ticket from the Cineplex costs $13.99, and a local beer costs $7.
So, if you go to two blockbusters a month and have three beers a week, you’ll be spending $111.98 a month on entertainment.
8. Health and fitness costs in Richmond
Fitness memberships vary greatly in Richmond. You can go to a community centre gym quite cheaply, whereas other specialty fitness studios cost more.
Numbeo’s puts the monthly average for a fitness membership at $49.75.
9. Coffee costs in Richmond
Numbeo puts a regular cappuccino at $5.30 on average. If you treat yourself twice a week, that’s $42.04 per month spent at your local cafe.
10. Cost of living extras in Richmond
To estimate the average cost of “extras” for a life in Richmond, we’ll say people will spend the equivalent of a pair of jeans ($46 according to Numbeo) and a pair of sneakers ($89.17 according to Numbeo) each month.
The Grand Total
1. Housing: $1,881.25
2. Utilities: $240.44
3. Phone: $117.25
4. Transportation: $234.00
5. Groceries: $368.64
6. Dining Out: $280
7. Entertainment: $111.98
8. Health and Fitness: $49.75
9. Coffee: $43.04
10. Extras: $135.17
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Total: $3,461.52 per month, or $41,538.24 annually
Numbeo says that the average net salary in Richmond is $48,600. That would leave you just over $588.48 per month for all your other expenses like travel, savings, and debt repayment.
Of course, these costs are estimates. They don’t include the relaitites of life like unexpected expenses, taxes, tips, and more.
How much are you spending per month?
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