Your housing costs, whether you rent or purchase a home, are just one factor to consider when calculating the cost of living in Prince George. Purchasing a home will result in additional costs, such as utility payments, property taxes, and home insurance, among others. Renting also has additional costs, such as renter’s insurance.
However, in addition to housing costs, you might also have car costs, if you choose to live in Prince George.
British Columbia has the highest car insurance rates in Canada, according to the Insurance Bureau of Canada. The average cost of car insurance in B.C. is $1,832 per year. That’s quite expensive, even when compared to what Ontario drivers pay, which is the second highest average in the country at $1,505 per year.