Penticton lies in the southern Okanagan Valley of British Columbia between Okanagan and Skaha Lakes. The region’s sunny climate, vineyards, wineries and beaches offer an appealing lifestyle for Penticton’s 33,000 residents. The cost of living in Penticton depends on whether you have dependents, own a home or rent, and drive a personal vehicle or rely on transit.
The benchmark price for a single-family detached home in the south Okanagan region is $675,600 according to September 2021 sales data reported by the Association of Interior Realtors. This figure is high compared to home prices in other parts of the country, but affordable by provincial standards.
British Columbia drivers pay the highest rates for auto insurance in Canada, so if you own a vehicle, be prepared to factor this into your cost of living. According to the Insurance Bureau of Canada, the average annual cost of auto insurance premiums in B.C. is $1,832. Drivers in the province are required to purchase their mandatory minimum auto coverage through a crown corporation called Autoplan, with the option to add additional coverage through private insurance providers.