While the cost of living is often measured in dollars, the true cost of living goes much deeper. It is a balance between what you pay and what you gain, whether that means climate, culture, job opportunities, or overall lifestyle.

In Toronto, Ontario, Metro Vancouver, and Victoria, British Columbia, living expenses and in particular, housing prices remain among the highest in Canada, making both cities difficult for newcomers to afford.  For Victoria in 2025, the average cost of living works out to be between $1,500 to $3,000 per month (excluding rent or mortgage) for a single person, and can land between $5,000 – $10,000 per month for a family of four. For single people, you may want to consider sharing a rental with roommates and for families, you may want to look into buying a home with a mortgage helper in order to avoid finding a rental in this hot market. 

Here’s the good news: while the numbers can feel overwhelming, what you get in return is hard to beat. Victoria consistently ranks as one of the most livable cities in Canada thanks to its mild climate, stunning natural surroundings, and thriving cultural scene. Access to high-quality healthcare, excellent schools, safe neighbourhoods, and endless opportunities for outdoor recreation all contribute to a quality of life that offsets the higher costs. For many, the investment is worth it when balanced against the day-to-day lifestyle that Victoria offers.

How Other Canadian Cities Compare 

Cities like Winnipeg, Manitoba and Lévis, Quebec are far more affordable and boast rich history and vibrant communities. The trade-off, however, comes in the form of fewer big-city amenities, more limited job opportunities, and long, freezing winters and hot, humid summers.

Calgary, Alberta, just east of the B.C. border, offers a thriving job market, a strong arts scene, and more affordable housing than Toronto or Vancouver. The challenge is that while Alberta regularly provides strong employment prospects and a vibrant culture, its economy is inextricably tied to oil and gas, and has historically experienced major economic shifts (boom & bust). Plus, much of Alberta experiences long, frigid winters that can be tough to deal with year after year.

If you are relocating from Seattle to Victoria, you will find the mild climate familiar and appealing. The adjustment comes instead from higher Canadian taxes and tariffs, although these are balanced by the security of universal healthcare.

The Bottom Line

So while the monetary cost of living is the top factor for many people when considering a move, it’s not the entire picture. It is wise to weigh what you spend against the kind of life you want to experience and what kind of compromises you are willing to make.