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Retirement Costs British Columbia

Budget your Retirement in British Columbia

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How much does it cost to retire in British Columbia? The answer will depend on the type of retirement community or home care service you choose and the level of care you need. Once you have determined these factors, start researching the associated costs and find a home care service or retirement community that works with your budget.

According to the CMHC’s Senior Housing Report, in 2015, the average cost of renting an independent living seniors’ housing space in British Columbia was $2,035 per month, one of the lowest averages in the country. The province had the highest average cost for "heavy care spaces" in all of Canada, with average cost being $6,011. Amenities are included quite often in the monthly rent, such as the cost of meals, utilities, and on-site medical services and a registered nurse. 

Looking for budgeting and financial tips? Read Easing Your Financial Stress
The costs of living at home

British Columbia retirement communities, as seen listed below, range in cost between $1,500 and $6,000. If you choose to try and stay in your own home, home care costs in BC average between $15 and $75 an hour, depending on the type and level of care required.

The following tables provide a more detailed look at some costs based on care required. This is only an overview, and you will need to consult with individual BC retirement homes to find out what care and services are included, how their rates vary, and what your final costs will be for the suite and care type that you require. 

When considering the cost of moving into a retirement home, remind yourself that all monthly costs are covered under one umbrella, including housing, maintenance, food and more.

Costs for independent living seniors' care in BC

The following list surveys what retirement homes cost in a variety of locations in BC. 

City
Suite
Sq footage
Cost/mo (starting)
Duncan, BC
1 br
617 sq ft
$2,775
Victoria, BC
1 br
555 sq ft
$3,500
 
2 br
669 sq ft
$4,760
Vancouver
Studio
380 sq ft
$3,700
 
2 br +
964 sq ft
$8,370
Surrey, BC
Studio
400 sq ft
$1,954
 
1 br
539 sq ft
$2,475

Assisted living costs

The minimum monthly rate you will pay for assisted living care in BC is $921.40 per month, as determined by the provincial government. For couples, the minimum monthly rate for living together is $1,485. However, the monthly client rate is based on the income of both you and your spouse, and this is subject to a minimum and maximum monthly rate. For families who can afford more, though, private care offers a variety of features and amenities you will not find in many other homes.

Long term care costs

Long-term care costs vary depending on the type of suite, duration of stay and length of stay. Spots in long-term care residences are determined solely by need.

Approximate long-term care residence costs:

Daily Rate
Monthly Rate
Long-stay basic
$54 – $1620
Long-stay semi-private
$62 – $1863
Long-stay private
$72 – $2167
Short-stay
$35 – $1053

 

 

 

 

 

As you browse the list of retirement home options below, ensure you have a clear understanding of what type of services and amenities are included with your rent. 

Seniors' care costs in BC can vary widely, based on a number of different factors. You can reduce retirement home costs by looking around and finding the option that suits you the very best. Consider how each of a variety of factors affects the costs, and how important any of these factors is to you. These include:

  • Physical location of the retirement home
  • Square footage of the suite, the number of bedrooms and other aspects of size
  • Type of care offered. There is, of course, a great difference between assisted living and Alzheimer's care or memory care.
  • The extra care required. This is sometimes included in the cost based on care, but in many cases, extra care is focused on a fee per care required. You will have to consult with individual retirement care homes to find out the difference between costs for bating assistance, transfer assistance and other extended care options. 
Worried about outliving your retirement savings? Download and read Reduce Your Financial Risk.

Can we afford it? Can we afford not to?

Anyone moving into a retirement home in the province of British Columbia needs to be diligent in getting to the bottom of all the costs associated with each home or residence before you move in. You can expect homes to be transparent about this, of course, but talk to residents and get their feedback also. Be aware of potential changes to care costs and affordability, such as lease or rental increases or changes to your income or investments. See an overview of how others afford senior care

Paying for seniors' care may be easier than you think. You will no longer be paying heat and hydro, property taxes and all other monthly and annual expenses that you pay as a homeowner living in your own residence. When many people finally sit down and figure it out, they are amazed at what they can afford. 

Further resources

For information about subsidies, tax credits and support for seniors in British Columbia visit the Canada Revenue Agency. For greater details about your options, and other civic advice, visit the provincial government's website, Assisted Living in BC.


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Tapestry at Wesbrook Village

Tapestry at Wesbrook Village

3338 Wesbrook Mall, Vancouver, British Columbia, V6S 0A6
This beautiful Vancouver seniors' community offers a variety of private suites, along with community services including dining, wellness activities and more.
Tapestry at Arbutus Walk

Tapestry at Arbutus Walk

2799 Yew Street, Vancouver, British Columbia, V6K 4W2
A senior living community in Vancouver, BC offering luxurious seniors' apartments in an active community, along with assisted living and other options.
Westerleigh PARC

Westerleigh PARC

725 - 22nd Street, West Vancouver, British Columbia, V7V 0B3
West Vancouver's newest retirement residence Westerliegh PARC offers premier quality of care and service within walking distance. Studio, 1- and 2-bedroom suites available.
Arbourside Court

Arbourside Court

13751 - 74th Avenue, Surrey, British Columbia, V3W 1A8
This Surrey retirement home offers major shopping, medical facilities, and a seniors center, in a caring environment that encourages continued growth.
Chartwell Carlton Gardens Care Residence

Chartwell Carlton Gardens Care Residence

4108 Norfolk Street, Burnaby, British Columbia, V5G 0B4
Chartwell Hampton House Retirement Residence

Chartwell Hampton House Retirement Residence

45555 Hodgins Avenue, Chilliwack, British Columbia, V2P 1P3
Chartwell Carrington House Retirement Residence

Chartwell Carrington House Retirement Residence

32679 - 6th Ave., Mission, British Columbia, V2V 1Y8
Chartwell Renaissance Retirement Residence

Chartwell Renaissance Retirement Residence

6676 203rd Street, Langley, British Columbia, V2Y 2Z1
Shannon Oaks - Vancouver

Shannon Oaks - Vancouver

2526 Waverley Avenue, Vancouver, British Columbia, V5S 4W1
Shannon Oaks offers amenity spaces that will delight: gardens, lounges, library, country kitchen, games room, exercise room, courtyard patios - even a golf putting green. Meet new friends and live life to the fullest!
Chartwell Ridgepointe Retirement Residence

Chartwell Ridgepointe Retirement Residence

1789 Primrose Court, Kamloops, British Columbia, V1S 0B7
Chartwell Constantia Retirement Residence

Chartwell Constantia Retirement Residence

784 Centre Street, Thornhill, British Columbia, L4J 9G7
Chartwell Kamloops Retirement Residence

Chartwell Kamloops Retirement Residence

628 Tranquille Road, Kamloops, British Columbia, V2B 3H6
Chartwell Crescent Gardens Retirement Community

Chartwell Crescent Gardens Retirement Community

1222 King George Blvd., Surrey, British Columbia, V4A 9W6
Chartwell Imperial Place Retirement Residence

Chartwell Imperial Place Retirement Residence

13853 102nd Ave, Surrey, British Columbia, V3T 5P6
Chartwell Birchwood Retirement Residence

Chartwell Birchwood Retirement Residence

45650 Patten Avenue, Chilliwack, British Columbia, V2P 1S4
Chartwell Ross Place Retirement Residence

Chartwell Ross Place Retirement Residence

2638 Ross Lane, Victoria, British Columbia, V8T 5M4
Chartwell Willow Retirement Community

Chartwell Willow Retirement Community

12275-224th Street, Maple Ridge, British Columbia, V2X 6H5
Chartwell Cedarbrooke Retirement Residence

Chartwell Cedarbrooke Retirement Residence

32331 - 7th Ave., Mission, British Columbia, V2V 6T7
Chartwell Churchill House Retirement Residence

Chartwell Churchill House Retirement Residence

150 W. 29th Street, North Vancouver, British Columbia, V7N 0A1
Chartwell Langley Gardens Retirement Community

Chartwell Langley Gardens Retirement Community

8888-202 Street, Langley, British Columbia, V1M 4A7
Chartwell Lynnwood Retirement Residence

Chartwell Lynnwood Retirement Residence

9168 Corbould Street, Chilliwack, British Columbia, V2P 8A1
Shannon Oaks - Victoria (Oak Bay)

Shannon Oaks - Victoria (Oak Bay)

2000 Goldsmith Street, Victoria, British Columbia, V8R 0A2
This elegant retirement residence in Victoria, BC offers a private dining room, exercise room and a variety of daily activities for active, engaged seniors.
Chartwell Chatsworth Retirement Residence

Chartwell Chatsworth Retirement Residence

1831 Parkview Crescent, Kelowna, British Columbia, V1X 7G7
Legacy Senior Living

Legacy Senior Living

611 West 41st Avenue, Vancouver, British Columbia, V5Z 0C7
Legacy Senior Living is Vancouver’s premier retirement community offering luxurious boutique-style retirement living for independent, active mature adults seeking an exceptional lifestyle in the heart of Oakridge.
Sherwood House

Sherwood House

280 Government Street, Duncan, British Columbia, V9L 0B5
This Duncan retirement home includes active adult and independent living and features five star dining in a secure environment in the heart of Vancouver Island.
Summerhill PARC

Summerhill PARC

135 West 15th Street, North Vancouver, British Columbia, V7M 1R7
Summerhill PARC near the heart of Lonsdale and 15th Avenue in beautiful North Vancouver offers a highly social retirement community living experience. 1- and 2-bedroom suites available.
Cherish at Central Park

Cherish at Central Park

917 Avrill Road, Victoria, British Columbia, UNKNOWN AT THIS
Cherish brings a new approach to senior living that has been called innovative and the way of the future. Our Independent Living rental suites and condominiums provide choices for estate preservation and peace of mind.
Mulberry PARC

Mulberry PARC

7230 Acorn Avenue, Burnaby, British Columbia, V5E 4N9
Mulberry PARC is a welcoming home and community in the heart of Burnaby, BC with the largest 1-bedroom and 2-bedroom retirement home suites available.
OPAL by Element

OPAL by Element

438 West King Edward Avenue, Vancouver, British Columbia, V5Y2J4
438 West King Edward Avenue, Vancouver, British Columbia V5Y 2J4 Opal offers a full continuum of care from Independent Living, Assisted living all the way to Complex Care, allowing the opportunity for aging in place.
Cedar Springs PARC

Cedar Springs PARC

3633 Mount Seymour Pkwy, North Vancouver, British Columbia, V7H 0A9
Located near Mt. Seymour in Vancouver's North Shore, Cedar Springs PARC offers retirement living within a beautiful natural environment. 1- and 2-bedroom suites available.
Arbutus Ridge by the Sea

Arbutus Ridge by the Sea

600 Fairways Place, Cobble Hill, British Columbia, V0R1L1
Arbutus Ridge is a 50 + seaside community located minutes from Victoria via a beautiful drive over the Malahat. There are 646 homes distributed over a park like 150 acres interlinked with the Arbutus Ridge Golf Course.

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