Cost Of Living For a Couple in Surrey 2024

Couple cost of living chart - average monthly expenditure in Surrey

Average Monthly Expenditure

Currency: CAD
2,300 7,000 38,000
MINIMUM AVERAGE MAXIMUM
$1,700 $5,200 $28,000

Average monthly spending for couples in Surrey

How much money does a couple need in a month to survive in Surrey?

Couples in Surrey spend around 7,000 CAD per month on average. Depending on the lifestyle, a couple can survive with a monthly budget as low as 2,300 CAD or as high as 38,000 CAD. Location and income are very important factors and have a huge influence on expenditure and budget.


Prices and cost of goods and services in Surrey


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Surrey

Dining, food, and beverages costs


Fast food combo meal

6.7 CAD 13 CAD 22 CAD
MINIMUM AVERAGE MAXIMUM
$4.9 $9.9 $16

Restaurant meal for one

22 CAD 33 CAD 67 CAD
MINIMUM AVERAGE MAXIMUM
$16 $25 $49

Fine dining meal for one

45 CAD 67 CAD 270 CAD
MINIMUM AVERAGE MAXIMUM
$33 $49 $200

Cappuccino or latte

5.6 CAD 9 CAD 13 CAD
MINIMUM AVERAGE MAXIMUM
$4.1 $6.6 $9.9

Grocery and market costs


Milk large bottle

4.5 CAD 5.4 CAD 6.7 CAD
MINIMUM AVERAGE MAXIMUM
$3.3 $4 $4.9

12 eggs

3.4 CAD 4.5 CAD 6.7 CAD
MINIMUM AVERAGE MAXIMUM
$2.5 $3.3 $4.9

Fresh whole chicken

7.6 CAD 9.9 CAD 14 CAD
MINIMUM AVERAGE MAXIMUM
$5.6 $7.3 $10

Pack of beef

9 CAD 13 CAD 27 CAD
MINIMUM AVERAGE MAXIMUM
$6.6 $9.9 $20

Medium bag of rice

3.6 CAD 4.9 CAD 7 CAD
MINIMUM AVERAGE MAXIMUM
$2.7 $3.6 $5.1

Bag of tomatos

1.3 CAD 1.8 CAD 3.4 CAD
MINIMUM AVERAGE MAXIMUM
$0.99 $1.3 $2.5

Bag of apples

2.4 CAD 3.1 CAD 5.2 CAD
MINIMUM AVERAGE MAXIMUM
$1.8 $2.3 $3.8
Chart showing the prices and cost of commute, travel, and transportation in Surrey


Commute, travel, and transportation costs


20 minutes taxi ride

5.6 CAD 6.7 CAD 13 CAD
MINIMUM AVERAGE MAXIMUM
$4.1 $4.9 $9.8

Average car full tank

34 CAD 45 CAD 90 CAD
MINIMUM AVERAGE MAXIMUM
$25 $33 $66

Average car 1-day rental

33 CAD 44 CAD 66 CAD
MINIMUM AVERAGE MAXIMUM
$24 $33 $49

Average car price

17,000 CAD 34,000 CAD 45,000 CAD
MINIMUM AVERAGE MAXIMUM
$12,000 $25,000 $33,000

Bus ticket one way

1.1 CAD 1.7 CAD 3.3 CAD
MINIMUM AVERAGE MAXIMUM
$0.81 $1.2 $2.4

Car Service

44 CAD 66 CAD 130 CAD
MINIMUM AVERAGE MAXIMUM
$33 $49 $98
Chart showing the prices and cost of utility, energy, water, and gas in Surrey


Utility cost (monthly)


Utility Bill - Couple

94 CAD 320 CAD 2,100 CAD
MINIMUM AVERAGE MAXIMUM
$69 $230 $1,500

Internet and cable

34 CAD 67 CAD 90 CAD
MINIMUM AVERAGE MAXIMUM
$25 $49 $66

Mobile phone charges

27 CAD 45 CAD 130 CAD
MINIMUM AVERAGE MAXIMUM
$20 $33 $99

Leisure and activities costs


Movie ticket

17 CAD 22 CAD 34 CAD
MINIMUM AVERAGE MAXIMUM
$12 $16 $25

One month gym membership

53 CAD 66 CAD 130 CAD
MINIMUM AVERAGE MAXIMUM
$39 $49 $98
Chart showing the prices and cost of clothing and accessories in Surrey


Cloths and accessories costs


Pair of jeans or pants

39 CAD 55 CAD 83 CAD
MINIMUM AVERAGE MAXIMUM
$29 $41 $61

Woman dress

37 CAD 51 CAD 170 CAD
MINIMUM AVERAGE MAXIMUM
$27 $38 $120

Woman shoes

35 CAD 47 CAD 110 CAD
MINIMUM AVERAGE MAXIMUM
$26 $35 $81

Men's shoes

30 CAD 37 CAD 74 CAD
MINIMUM AVERAGE MAXIMUM
$22 $27 $54

Men suit

33 CAD 42 CAD 220 CAD
MINIMUM AVERAGE MAXIMUM
$24 $31 $160

Regular t-shirt

17 CAD 22 CAD 66 CAD
MINIMUM AVERAGE MAXIMUM
$12 $16 $49
Chart showing the prices and cost of housing, accommodation, and rent in Surrey


Housing costs / monthly rent


Studio apartment

550 CAD 830 CAD 2,200 CAD
MINIMUM AVERAGE MAXIMUM
$410 $610 $1,600

1-bedroom apartment

830 CAD 1,300 CAD 3,300 CAD
MINIMUM AVERAGE MAXIMUM
$610 $980 $2,400

2-bedroom apartment

1,100 CAD 1,700 CAD 4,400 CAD
MINIMUM AVERAGE MAXIMUM
$810 $1,200 $3,300

Housing costs / Buying


Studio apartment

110,000 CAD 170,000 CAD 330,000 CAD
MINIMUM AVERAGE MAXIMUM
$81,000 $120,000 $240,000

1-bedroom apartment

130,000 CAD 220,000 CAD 830,000 CAD
MINIMUM AVERAGE MAXIMUM
$98,000 $160,000 $610,000

2-bedroom apartment

220,000 CAD 660,000 CAD 1.3M CAD
MINIMUM AVERAGE MAXIMUM
$160,000 $490,000 $980,000
Chart showing the prices and cost of furniture in Surrey


Furniture Costs


King Size Bed

670 CAD 840 CAD 1,100 CAD
MINIMUM AVERAGE MAXIMUM
$490 $620 $820

Double Bed

450 CAD 670 CAD 840 CAD
MINIMUM AVERAGE MAXIMUM
$330 $490 $620

Single Bed

400 CAD 520 CAD 670 CAD
MINIMUM AVERAGE MAXIMUM
$290 $380 $490

Living Room

750 CAD 960 CAD 3,400 CAD
MINIMUM AVERAGE MAXIMUM
$550 $710 $2,500

Dining Table

340 CAD 450 CAD 840 CAD
MINIMUM AVERAGE MAXIMUM
$250 $330 $620

Sofa or Couch

450 CAD 610 CAD 1,300 CAD
MINIMUM AVERAGE MAXIMUM
$330 $450 $990
Chart showing the prices and cost of electronic devices and appliances in Surrey


Electronics and House Appliance Costs


TV Set

450 CAD 670 CAD 1,300 CAD
MINIMUM AVERAGE MAXIMUM
$330 $490 $990

Fridge or Freezer

400 CAD 610 CAD 840 CAD
MINIMUM AVERAGE MAXIMUM
$290 $450 $620

Washing Machine

520 CAD 750 CAD 1,300 CAD
MINIMUM AVERAGE MAXIMUM
$380 $550 $990

Stove or Cooker

480 CAD 610 CAD 840 CAD
MINIMUM AVERAGE MAXIMUM
$350 $450 $620

Mobile Phone

560 CAD 670 CAD 960 CAD
MINIMUM AVERAGE MAXIMUM
$410 $490 $710

Laptop or Computer

610 CAD 750 CAD 1,300 CAD
MINIMUM AVERAGE MAXIMUM
$450 $550 $990
Couple cost of living and expenditure to income ratio in Surrey

Couple expenditure to income ratio in Surrey

Analysing the how affordable it is for couples to live in Surrey

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in. Couples usually spend a larger chunk of their income than other population groups. A typical and healthy expenditure percentage for a couple of four ranges between 70% to 80%.


Spending to Income Ratio

76%

67% to 85%

( expenditure / income ) x 100


Couples in Surrey spend around 76% of their monthly income. Some couples spend as low as 67% of their income while some as high as 85%.

Distribution of monthly cost of living expenses of a couple in Surrey

How do couples spend their money in Surrey?

We asked thousands of couples about their spending habits and expenditure break down.


The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing and accomodation expenditure for couples

Accomodation Cost30%

30% of total expenses on average (23% to 40%)

LOW$590   800 CAD
AVERAGE$1,800   2,400 CAD
HIGH$9,400   13,000 CAD
Per Month

Couples in Surrey typically spend from 23% to 40% of their total monthly expenditure on housing with 30% being the average. The average monthly spend on housing is 2,400 CAD with expenditure ranging from 800 CAD to 13,000 CAD. This cost mainly goes for rent but it also includes other accommodation-related expenses.

Electricity, utilities, energy, water, internet, and mobile expenditure for couples

Cost of utilities6%

6% of total expenses on average (4% to 10%)

LOW$69   94 CAD
AVERAGE$230   320 CAD
HIGH$1,500   2,100 CAD
Per Month

Utility expenditure like electricity, water, and gas in Surrey ranges from 4% to 10% of total expenses with 6% being the average for most couples. The average monthly cost of utilities is 320 CAD with 94 CAD and 2,100 CAD being the upper and lower limits for a couple of four.

Transport, fuel, and commute expenditure for couples

Cost of transport and fuel10%

10% of total expenses on average (4% to 15%)

LOW$210   280 CAD
AVERAGE$620   840 CAD
HIGH$3,300   4,500 CAD
Per Month

Fuel consumption and cost of transport depend heavily on whether a couple resides near school and work, but roughly speaking a couple would expect to spend from 280 CAD to 4,500 CAD in a month on commuting with 840 CAD being the norm for most couples. This means that money spent on transport constitutes about 10% of total spending on average but can go as low as 4% or as high as 15%.

Food, groceries, and basic shopping expenditure for couples

Food and Groceries Cost16%

16% of total expenses on average (11% to 21%)

LOW$240   330 CAD
AVERAGE$720   980 CAD
HIGH$3,900   5,300 CAD
Per Month

The average outlay on groceries and basic houshold items for a typical couple in a month in Surrey is 980 CAD. The cost of groceries can range between 330 CAD to 5,300 CAD. Couples spend on average about 16% on food and groceries with upper and lower bounds of 11% and 21% respectively.

Healthcare and medical services expenditure for couples

Cost of healthcare13%

13% of total expenses on average (7% to 17%)

LOW$190   260 CAD
AVERAGE$570   770 CAD
HIGH$3,000   4,100 CAD
Per Month

Couples in Surrey allocate 7% to 17% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending on medical services and clinic visits is around 13%. The range of medical expenses range from 260 CAD to 4,100 CAD with 770 CAD being the norm for most couples.

Leisure and shopping expenditure for couples

Cost of leisure and shopping5%

5% of total expenses on average (2% to 8%)

LOW$100   140 CAD
AVERAGE$310   420 CAD
HIGH$1,700   2,300 CAD
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 140 CAD to 2,300 CAD with 420 CAD being the average. Speaking of percentages, that equates to 2% to 8% of total expenses with an average of 5% for most couples.

Education and schooling expenditure for couples

Cost of education and schooling2%

2% of total expenses on average (1% to 4%)

LOW$34   47 CAD
AVERAGE$100   140 CAD
HIGH$550   750 CAD
Per Month

Spending on education can vary drastically between different couples. On average, education constitutes 2% of the monthly expenditure of couples with 1% and 4% being the lower and upper bounds respectively. The average reported education cost is 140 CAD per month with 47 CAD being the minimum spent amount and 750 CAD being the maximum.

Other Expenses19%

19% of total expenses on average (13% to 25%)

LOW$290   400 CAD
AVERAGE$880   1,200 CAD
HIGH$4,700   6,400 CAD
Per Month
Percentage of couples who manage to save money from their income every month in Surrey

What percentage of couples in Surrey are able to save money and how much can they save?


Percentage of couples that reported their ability to save money


Saving Money
67%
Not Saving
33%

Almost 67% of surveyed couples in Surrey said that they can save some money at the end of each month while 33% reported that they have to utilize their whole income to survive.


Couple savings to income ratio in Surrey

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


How much money do couples manage to add to their savings?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.

Saving to Income Ratio

14% 24% of income 34%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

980 CAD
$720
2,900 CAD
$2,200
16,000 CAD
$12,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%33%
10% - 20%25%
20% - 30%19%
30% - 40%11%
40% - 50%9%
> 50%3%

Interpretation and Analysis

Couples that are able to save money can put anywhere from 14% to 34% of their monthly income to their savings, with 24% being the average for most couples. The average monthly amount of money that couples can put aside is 2,900 CAD with 980 CAD and 16,000 CAD being the minimum and maximum respectively.

Reasons that make it difficult for couples to save money in Surrey

Saving Challenges in Surrey

Reasons that make it difficult for couples to save money

We wanted to understand what is stopping couples from maximizing their savings in Surrey. Listed below are the answers given by the survey participants.


Reason% People
Low Income6%
High Expenses9%
Debt and Loans18%
Lack of Budgeting Skills10%
Impulsive Spending9%
Financial Emergencies6%
Living the moment7%
Will do it later17%
Inflation11%
Social Pressure3%
Market Instability3%

Around 6% of the couples said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 18% of the residents said that they are burdened with debt and find it challenging to save money. 10% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 9% of couples blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 7% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 17% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 11% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Where do couples choose to put their savings in Surrey

Typical saving choices for couples in Surrey

Where do people choose to put their savings?


Saving Type% People
Emergency Funds11%
Gold10%
Savings Accounts17%
Retirement Accounts11%
Cash Savings16%
Real Estate10%
Investment6%
Stocks6%
Bonds6%
Mutual Funds3%
Certificates of Deposit3%
A typical and healthy budgeting structure. The 50-30-20 rule

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Income and cost of living compatibility. Is it affordable or economical for couples to live in Surrey

Affordable living in Surrey

Income and cost of living compatibility

We asked couples one simple question and recorded their answers.

Is it affordable or economical to live in Surrey?


Yes
79%
No
21%

Around 79% of surveyed couples think that living in Surrey is affordable with proper budgeting while 21% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting for couples. Are there plenty of low-cost options in Surrey

Low-cost alternatives in Surrey

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked couples how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options61%

Few low-cost options39%


Based on the survey, 61% of the couples living in Surrey have no problem finding low-cost alternatives to support a frugal lifestyle while 39% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds For Couples

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked couples of Surrey whether they have an emergency fund and the answers were as follows.

Yes77%

No23%


Based on the survey, 23% of the couples living in Surrey said that they don't have an emergency fund while 77% said that they do.

Financial literacy and difficulty in budgeting and financial planning for couples in Surrey

Financial Literacy in Canada

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy75%


We asked couple guardians and parents in Surrey whether they acquired any adequate personal financial training in their lives. Approximately 25% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 75% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether couples of Canada have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 21% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 79% said that they have everything under control.

Struggles with finance21%

Easily manages finances79%

Financial goals and targets of couples living in Surrey

Financial goals of couples in Surrey

In an attempt to understand the economic situation in Surrey, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund7%
Debt Reduction33%
Retirement Savings8%
Education Funding8%
Homeownership17%
Investing9%
Travel or Lifestyle11%
Healthcare Expenses9%
Financial Independence8%

Around 7% of couples said that their main goal is to establish an emergency fund to cover unexpected expenses while 33% said their number one priority is to pay off high-interest debt or loans and improve credit. 8% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 9% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 11% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 9% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Chart showing the percentage of couples who are in debt in Surrey

Debt, loans, and mortgages in Surrey


Percentage of couples who are in debt


In Debt
25%
Debt Free
75%

According to the survey, 25% of the couples in Surrey have some kind of debt, loan, mortgage, or credit card payments while 75% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Surrey

Debt-to-income ratio in Surrey

Debt to income ratio

26%

17% to 36%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 26% of a couple's monthly income in Surrey goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%12%
40% - 50%11%
30% - 40%13%
20% - 30%15%
10% - 20%18%
0% - 10%28%

According to our data, 3% of the debtors in Surrey pay 60%+ of their income as debt settlement while 12% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 11% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 13% dedicated 30% to 40% of income for same. Things are looking brighter for 15% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Surrey

Debt% People
Real Estate Mortgage13%
Auto Loan22%
Student Loan3%
Credit Card25%
Personal Loan37%

13% of debtors in Surrey confirm that real estate mortgages constitutes the main part of their outstanding debt while 25% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 22% of people and personal loans rose at 37%. Lastly, student loans are the main source of debt for 3% of debtors in Surrey.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Surrey

Besides measuring the loan-to-income ratio, we asked couples of Surrey how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never55%
Once a year22%
Twice a year11%
Three times a year8%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Surrey

Housing costs, accommodation, and housing affordability in Surrey

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Surrey

Monthly Rent Prices

Studio apartment monthly rent cost

550 CAD 830 CAD 2,200 CAD
MINIMUM AVERAGE MAXIMUM
$410 $610 $1,600

1-bedroom apartment monthly rent cost

830 CAD 1,300 CAD 3,300 CAD
MINIMUM AVERAGE MAXIMUM
$610 $980 $2,400

2-bedroom apartment monthly rent cost

1,100 CAD 1,700 CAD 4,400 CAD
MINIMUM AVERAGE MAXIMUM
$810 $1,200 $3,300

3-bedroom apartment monthly rent cost

1,300 CAD 2,200 CAD 6,000 CAD
MINIMUM AVERAGE MAXIMUM
$980 $1,600 $4,400

Furnished apartment monthly rent cost

2,700 CAD 6,600 CAD 13,000 CAD
MINIMUM AVERAGE MAXIMUM
$2,000 $4,900 $9,800

Townhouse monthly rent cost

2,200 CAD 3,300 CAD 9,500 CAD
MINIMUM AVERAGE MAXIMUM
$1,600 $2,400 $7,000

House monthly rent cost

2,700 CAD 6,600 CAD 13,000 CAD
MINIMUM AVERAGE MAXIMUM
$2,000 $4,900 $9,800

Villa monthly rent cost

3,300 CAD 8,300 CAD 13,000 CAD
MINIMUM AVERAGE MAXIMUM
$2,400 $6,100 $9,800

The monthly rental cost of a studio apartment in Surrey ranges between 550 CAD and 2,200 CAD, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 830 CAD to 3,300 CAD. Two-bedroom rentals rate ranges between 1,100 CAD and 4,400 CAD per month. The monthly rental for a three-bedroom apartment ranges from 1,300 CAD to 6,000 CAD. The average rent of a townhouse in Surrey is around 3,300 CAD while house rental costs can be as high as 6,600 CAD per month. Finally, if you want to rent a villa, expect to pay anywhere from 3,300 CAD to 13,000 CAD per month.



Apartment and house prices in Surrey

Cost of buying a property

Studio apartment price

110,000 CAD 170,000 CAD 330,000 CAD
MINIMUM AVERAGE MAXIMUM
$81,000 $120,000 $240,000

1-bedroom apartment price

130,000 CAD 220,000 CAD 830,000 CAD
MINIMUM AVERAGE MAXIMUM
$98,000 $160,000 $610,000

2-bedroom apartment price

220,000 CAD 660,000 CAD 1.3M CAD
MINIMUM AVERAGE MAXIMUM
$160,000 $490,000 $980,000

3-bedroom apartment price

740,000 CAD 1.1M CAD 3.3M CAD
MINIMUM AVERAGE MAXIMUM
$540,000 $810,000 $2.4M

Townhouse price

950,000 CAD 2.2M CAD 8.3M CAD
MINIMUM AVERAGE MAXIMUM
$700,000 $1.6M $6.1M

House price

1.1M CAD 6.6M CAD 9.5M CAD
MINIMUM AVERAGE MAXIMUM
$810,000 $4.9M $7M

Villa price

1.3M CAD 7.4M CAD 11M CAD
MINIMUM AVERAGE MAXIMUM
$980,000 $5.4M $8.1M

The average price of a studio apartment in Surrey can range from 110,000 CAD to 330,000 CAD depending on location. One bedroom cost can be anywhere from 130,000 CAD to 830,000 CAD. A villa can cost you 7.4M CAD on average with prices ranging from 1.3M CAD to 11M CAD.


If you're leasing or purchasing, housing costs in Surrey will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


45 x134 monthly income 219
MINIMUM AVERAGE MAXIMUM

Property prices in Surrey can be x134 to x219 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x134 multiples of the average monthly salary in Surrey.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


24% 34% of income 43%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Surrey is around 34%. This means that people pay 34% of their income for rent. Those figures can range from 24% to 43% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
31%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
2.4%
AVERAGE
3.4%
TO
4.4%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


9.4 CAD 120 CAD 1,200 CAD
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Surrey

Utilities expenditure can vary slightly between different areas and locations.


Energy, electricity, water, gas, internet, and mobile cost in Surrey

Utility Bill Cost / Electricity + Water + Gas / Couple

94 CAD 320 CAD 2,100 CAD
MINIMUM AVERAGE MAXIMUM
$69 $230 $1,500

Internet and cable cost

34 CAD 67 CAD 90 CAD
MINIMUM AVERAGE MAXIMUM
$25 $49 $66

Mobile phone bill and charges

27 CAD 45 CAD 130 CAD
MINIMUM AVERAGE MAXIMUM
$20 $33 $99

Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.


The average monthly energy and water consumption of couples is around 320 CAD. The cost of internet and WiFi ranges from 34 CAD to 90 CAD with 67 CAD being the average internet bill. Finally, the average monthly mobile charges is around 45 CAD but can range between 27 CAD and 130 CAD depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


2% 4.9% of income 8.9%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Surrey is around 4.9%. This means that people pay 4.9% of their income for energy, water, internet, and mobile charges. Those figures can range from 2% to 8.9% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Surrey

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Surrey

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

6.7 CAD 13 CAD 22 CAD
MINIMUM AVERAGE MAXIMUM
$4.9 $9.9 $16

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Surrey is approximatly 13 CAD with meal cost ranging from 6.7 CAD to 22 CAD. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

22 CAD 33 CAD 67 CAD
MINIMUM AVERAGE MAXIMUM
$16 $25 $49

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 22 CAD and 67 CAD with 33 CAD being the average price of a plate for one person at a regular restaurant in Surrey.

Fine dining meal for one price

45 CAD 67 CAD 270 CAD
MINIMUM AVERAGE MAXIMUM
$33 $49 $200

The price range of a meal at fine-dining restaurant is 45 CAD to 270 CAD with the average cost being 67 CAD for one person. This is what you would expect to pay a top-tier diner in Surrey.

Beverage prices, cappuccino, latte etc..

5.6 CAD 9 CAD 13 CAD
MINIMUM AVERAGE MAXIMUM
$4.1 $6.6 $9.9

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Surrey is around 9 CAD. Price ranges between 5.6 CAD and 13 CAD depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

4.5 CAD 5.4 CAD 6.7 CAD
MINIMUM AVERAGE MAXIMUM
$3.3 $4 $4.9

The average price of a large bottle of milk in Surrey is 5.4 CAD. The maximum what you would pay for milk is 6.7 CAD and the minimum being 4.5 CAD depending on the brand of milk and other properties.

12 eggs price

3.4 CAD 4.5 CAD 6.7 CAD
MINIMUM AVERAGE MAXIMUM
$2.5 $3.3 $4.9

A dozen eggs costs around 4.5 CAD on average with 3.4 CAD and 6.7 CAD being the lower and upper limits respectively.

Fresh whole chicken price

7.6 CAD 9.9 CAD 14 CAD
MINIMUM AVERAGE MAXIMUM
$5.6 $7.3 $10

The price range of a fresh whole chicken in Surrey is between 7.6 CAD and 14 CAD depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 9.9 CAD.

Pack of beef price

9 CAD 13 CAD 27 CAD
MINIMUM AVERAGE MAXIMUM
$6.6 $9.9 $20

The price of a regular pack of beef or meat is around 13 CAD. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

3.6 CAD 4.9 CAD 7 CAD
MINIMUM AVERAGE MAXIMUM
$2.7 $3.6 $5.1

A bag of rice in Surrey costs around 4.9 CAD on average with prices rangeing between 3.6 CAD and 7 CAD depending on the brand and quality.

Bag of tomatos price

1.3 CAD 1.8 CAD 3.4 CAD
MINIMUM AVERAGE MAXIMUM
$0.99 $1.3 $2.5

A bag of tomatoes costs anywhere from 1.3 CAD to 3.4 CAD. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

2.4 CAD 3.1 CAD 5.2 CAD
MINIMUM AVERAGE MAXIMUM
$1.8 $2.3 $3.8

A bag of apples costs 3.1 CAD on average. A bag of apples denotes 1Kg or 1lb depending on location.


Grocery and food expenditure to income ratio


( monthly grocery expenses / monthly income ) x 100


17% 25% of income 31%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Surrey is around 25%. This means that couples spend 25% of their income on grocery and basic household items. The expenditure can range from 17% to 31% depending on salary and location.


Expenditure on food and grocery for couples

Couples' spending on grocery ranges from 330 CAD to 5,300 CAD with the location, income, and size of the couple being the most determinite factors.

evoeicarsraw©copound