Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.
I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.
And while every neighbhorhood in Vancouver might be more expensive than living in rural Washington, there are certain neighborhoods that are definitely cheaper.
So what exactly are those Vancouver neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?
Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Vancouver are the cheapest.
Here are the cheapest neighborhoods in Vancouver for 2020:
What’s the cheapest neighborhood to live in Vancouver for 2020? According to the most recent census data, Cascade Highlands looks to be the cheaptest Vancouver neighborhood to live in.
At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Vancouver. You could be sacrificing location or crime rates in return for more space and cheaper groceries.
Read on to see how we determined the places around Vancouver that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Vancouver.
Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.
For more Washington reading, check out:
- Best Places To Live In Washington
- Best Counties To Live In Washington
- Cheapest Cities To Live In America
- Cheapest States To Live In America
How We Determined The Cheapest Vancouver Hoods In 2020
In order to rank the cheapest places to live in Vancouver, we had to determine what criteria defines “cheap”.
Using census and extrapolated BLS data, we arrived at the following set of criteria:
- Overall Cost Of Living
- Rent To Income Ratio
- Median Home Value To Income Ratio
We then ranked each neighborhood with scores from 1 to 59 in each category, where 1 was the cheapest.
Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.
And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the “Cheapest City Neighborhood In Vancouver.” We’re lookin’ at you, Cascade Highlands.
Read on below to learn more about what it’s like to live in the cheapest places Vancouver. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.
The 10 Cheapest Neighborhoods To Live In Vancouver For 2020
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Population: 3,446
Cost Of Living Index: 98 (2nd cheapest)
Home Value To Income Ratio: 2.2 (1st cheapest)
Rent To Income Ratio: 0.004 (1st cheapest)
More on Cascade Highlands: Homes For Sale | Data
The median income in Cascade Highlands comes in at $73,636 and the median home value is $165,633 for 2020.
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Population: 1,735
Cost Of Living Index: 92 (1st cheapest)
Home Value To Income Ratio: 2.4 (2nd cheapest)
Rent To Income Ratio: 0.018 (26th cheapest)
More on Fruit Valley: Homes For Sale | Data
The median income in Fruit Valley comes in at $34,370 and the median home value is $83,900 for 2020.
Population: 489
Cost Of Living Index: 111 (28th cheapest)
Home Value To Income Ratio: 3.2 (9th cheapest)
Rent To Income Ratio: 0.015 (12th cheapest)
More on Northwood: Homes For Sale | Data
The median income in Northwood comes in at $68,646 and the median home value is $217,700 for 2020.
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Population: 2,069
Cost Of Living Index: 107 (14th cheapest)
Home Value To Income Ratio: 3.2 (10th cheapest)
Rent To Income Ratio: 0.019 (29th cheapest)
More on Kevanna Park: Homes For Sale | Data
The median income in Kevanna Park comes in at $55,615 and the median home value is $177,800 for 2020.
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Population: 1,873
Cost Of Living Index: 112 (34th cheapest)
Home Value To Income Ratio: 2.7 (3rd cheapest)
Rent To Income Ratio: 0.016 (18th cheapest)
More on Parkway East: Homes For Sale | Data
The median income in Parkway East comes in at $78,688 and the median home value is $210,600 for 2020.
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Population: 1,092
Cost Of Living Index: 117 (43rd cheapest)
Home Value To Income Ratio: 3.4 (14th cheapest)
Rent To Income Ratio: 0.008 (4th cheapest)
More on Father Blanchet Park: Homes For Sale | Data
The median income in Father Blanchet Park comes in at $89,854 and the median home value is $301,233 for 2020.
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Population: 3,556
Cost Of Living Index: 111 (28th cheapest)
Home Value To Income Ratio: 3.6 (23rd cheapest)
Rent To Income Ratio: 0.012 (10th cheapest)
More on Lincoln: Homes For Sale | Data
The median income in Lincoln comes in at $67,066 and the median home value is $239,367 for 2020.
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Population: 5,591
Cost Of Living Index: 104 (9th cheapest)
Home Value To Income Ratio: 2.8 (4th cheapest)
Rent To Income Ratio: 0.022 (50th cheapest)
More on North Image: Homes For Sale | Data
The median income in North Image comes in at $51,358 and the median home value is $145,520 for 2020.
/10
Population: 4,556
Cost Of Living Index: 109 (20th cheapest)
Home Value To Income Ratio: 3.6 (25th cheapest)
Rent To Income Ratio: 0.016 (19th cheapest)
More on Vancouver Heights: Homes For Sale | Data
The median income in Vancouver Heights comes in at $57,780 and the median home value is $209,756 for 2020.
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Population: 1,890
Cost Of Living Index: 110 (23rd cheapest)
Home Value To Income Ratio: 3.7 (27th cheapest)
Rent To Income Ratio: 0.015 (14th cheapest)
More on Carter Park: Homes For Sale | Data
The median income in Carter Park comes in at $60,804 and the median home value is $222,767 for 2020.
Summing Up The Cheapest Places In Vancouver
If you’re measuring the neighborhoods in Vancouver where prices are low and it’s cheap to live, this is an accurate list.
As we mentioned earlier, the neighborhoods in Vancouver aren’t all cheap. Fairway 164Th takes the title of the most expensive neighborhood to live in Vancouver.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Washington reading, check out:
- Cheapest Places To Live In Washington
- Best Places To Raise A Family In Washington
- Best Places To Retire In Washington
- Richest Cities In Washington
- Safest Places In Washington
- Worst Places To Live In Washington
