Yes, Vancouver is consistently ranked as one of the most expensive cities in North America and the world. In 2026, the primary driver of this cost is housing. The average rent for a one-bedroom apartment in the city center often exceeds $2,800 CAD, and the "benchmark" price for a detached home remains well over $2 million. Beyond housing, residents face high costs for groceries, insurance, and dining out, which are significantly higher than the Canadian national average. While British Columbia has a relatively high minimum wage, many residents find themselves "house poor" due to the gap between average earnings and the cost of living. However, many find the "lifestyle tax" worth it for the access to world-class mountains, beaches, and a mild climate. To live comfortably in Vancouver in 2026 without significant financial stress, a single individual generally needs a gross annual income of at least $85,000 to $95,000 CAD, while families require substantially more to cover childcare and larger housing needs.