When it comes to picking a university, living costs are likely at the top of mind for prospective students, and often a deciding factor.
So what then, when it comes to Vancouver, a place often ranked one of the most expensive cities — albeit among the most desirable — in the world?
This weekend, about 6,000 students moved into on-campus residences at the University of B.C., an esteemed school located in such a sought-after city that the financial tradeoff is more than worth it, according to some freshmen.
Jeffrey Doyle, 17, flew from his home in Nova Scotia to B.C. last week and has spent several days buying back-to-school supplies and dorm room furniture.
“I chose Vancouver because I love this place. We came on vacation three years ago, to Vancouver — I was originally thinking of just going to Dalhousie in Halifax, but I fell in love with the outdoors here,” said the computer science student. “People are from all over the world here and it’s so cool to meet all these new people from different backgrounds.”
Doyle acknowledged Vancouver’s reputation as a pricey place to live but believes the cost reflects the lifestyle and opportunities available.
“I think the high prices are also relative to the quality of life here,” said Doyle. “A house might be higher in price here but you’re also having a higher quality of living so they kind of go hand in hand, really.”
The Nova Scotian teen was accompanied by his mom, Lisa, for the trip, who was set to return home on a Sunday morning flight after a whirlwind couple of days helping her son settle in.
She said Vancouver’s price tag was an “absolute huge worry” when her son decided he wanted to attend school on the West Coast.
“He’s here in residence this year and I’m really hoping he can be in residence next year because I don’t know how he’s going to afford to find a place to live next year,” she said.
Doyle’s parents have been saving through an educational fund since Doyle was young, to help offset the costs of tuition.
Housing options on campus range from shared suites for undergraduate students to private condos for upper year students, with prices ranging from the low $700s, up to about $1,100.
Those rates are on par with what can be found within a 40- to 60-minute radius around the Point Grey campus.
While it’s possible to find rents elsewhere in Vancouver that are lower than what UBC is offering, it’s a difficult task when the city boasts the lowest vacancy rate in Canada, and an average rent of about $1,200.
That demand is amplified by UBC Housing’s wait list which, at its peak during the summer, had 6,300 people on it, vying for the next open bed on campus.
Andrew Parr, managing director with UBC Housing, said the university refers to the Canadian Mortgage and Housing Corporation’s guidelines when assessing on-campus housing prices.
As a general rule, the CMHC recommends the monthly total for rent, electricity, heat, water, and municipal services not exceed 30 per cent of a household’s before-tax income. University students are, of course, a unique case.
“Vancouver is a very expensive city, for sure. One of our philosophies around pricing is ‘at or below market’ but it can be difficult to compare what we offer here to an off-campus location,” he said, citing the more immediate social and educational connections students can make just by being located on campus.
“The rental market place has a very low inventory and almost no vacancy at all. That means rents are higher, particularly on the west side ... so I think we’re relatively affordable,” said Parr.
Currently, the Vancouver campus has 9,463 beds opperated by UBC Housing, and 680 operated by fraternity, sorority, and theology systems.
Over the last five years, an additional 1,279 beds have been added to the Vancouver campus, while another 3,008 beds are expected by 2020, in five new housing projects.
“Going to school is a very expensive venture,” said Parr. “We recognize it as being a challenge but I think the students that come here would say -- and we would support the argument -- that it’s a good investment to make in terms of the whole life experience and the opportunities it gets you in the future.”
Costly or not, the big move across the country is a necessary one for Doyle and his family.
“It’ll be sad, of course, but it’s part of life. Can’t stay at home forever,” Doyle said. His mom agrees.
“It’s a long way from home ... but he’s a pretty smart kid, he’s resourceful. He’ll be fine,” she said.
