Cost of living in Banff

Banff, located in the heart of the Canadian Rockies, is renowned for its stunning natural beauty and vibrant tourism industry. Understanding the cost of living in Banff is crucial for both residents and potential newcomers, as it impacts daily life and financial planning.

This guide provides a detailed breakdown of the cost of living in Banff for 2024, covering essential categories such as dining, groceries, transportation, housing, and utilities.

People enjoying the surroundings of Banff

Cost of Living Summary

Dining and Restaurants

Inexpensive Restaurant MealA meal at a casual restaurant will typically cost $23.24 on average, with a range between $14.3 and $50.06.
Mid-Range Restaurant (Three-Course Meal for Two)For a more upscale dining experience, expect to pay around $66.15, with prices ranging from $57.21 to $128.72.
Fast Food (e.g., McDonald's)A McMeal or equivalent combo meal averages $8.58.
Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi)Domestic beer ranges from $5.36 to $7.87, imported beer $5.72 to $10.01, cappuccino $1.43 to $5.01, and Coke/Pepsi $1.43 to $3.22.

Grocery Prices

MilkMilk is priced between $1.11 and $4.29 per liter, averaging $1.83.
Bread (Loaf of Fresh White Bread)A loaf of fresh white bread costs between $1.57 and $4.28, with an average price of $2.27.
Eggs (Dozen)A dozen eggs range from $2.5 to $4.65, averaging $3.64.
Fruits (e.g., Apples, Oranges)Apples cost $1.79 to $5.08 per kg, while oranges range from $3.58 to $7.15 per kg.
Vegetables (e.g., Potatoes, Lettuce)Potatoes are priced between $1.86 and $5.72 per kg, and lettuce costs $2.86 to $5.01 per head.

Transportation

Public Transport (One-Way Ticket)A one-way local transport ticket costs between $1.43 and $2.15.
Fuel (Gasoline)Gasoline is priced between $0.85 and $1.1 per liter.
Taxi FaresTaxi fares start at $5.36, with a cost of $2.86 to $3.58 per km and $15.73 to $21.45 per hour of waiting.

Housing Costs

1-Bedroom Apartment Rent (City Centre)Rent for a 1-bedroom apartment in the city centre ranges from $715.09 to $858.11, averaging $786.6.
1-Bedroom Apartment Rent (Outside Centre)Outside the centre, rent averages $858.11.
3-Bedroom Apartment Rent (City Centre)Rent for a 3-bedroom apartment in the city centre ranges from $572.07 to $2002.25, averaging $1287.16.
3-Bedroom Apartment Rent (Outside Centre)Outside the centre, rent averages $3003.37.

Utilities

Basic Utilities (Electricity, Heating, Water, etc.)Basic utilities for an 85m2 apartment cost between $125.14 and $321.79, averaging $197.54.
InternetInternet services range from $57.21 to $80.09, with an average cost of $69.84.

Cost of Living Data

The following pricing data has been gathered from 19 user contributions, as of the most recent update in November, 2024.

Restaurants

Avg / Range

Restaurants

Avg

Range

Meal, Inexpensive Restaurant

$23.24

Meal for 2 People, Mid-range Restaurant, Three-course

$66.15

McMeal at McDonalds (or Equivalent Combo Meal)

$8.58

Domestic Beer (0.5 liter draught)

$7.15

Imported Beer (0.33 liter bottle)

$7.15

Coke/Pepsi (0.33 liter bottle)

$2.05

Water (0.33 liter bottle)

$1.91

Cappuccino (regular)

$3.47

Markets

Avg / Range

Markets

Avg

Range

Milk (regular), (1 liter)

$1.83

Loaf of Fresh White Bread (500g)

$2.27

Eggs (regular) (12)

$3.64

Local Cheese (1kg)

$12.15

Water (1.5 liter bottle)

$2.86

Bottle of Wine (Mid-Range)

$17.88

Domestic Beer (0.5 liter bottle)

$3.58

Imported Beer (0.33 liter bottle)

$2.86

Cigarettes 20 Pack (Marlboro)

$14.30

Chicken Fillets (1kg)

$14.41

Apples (1kg)

$3.58

Oranges (1kg)

$5.07

Potato (1kg)

$3.13

Lettuce (1 head)

$3.58

Rice (white), (1kg)

$5.69

Tomato (1kg)

$4.77

Banana (1kg)

$1.72

Onion (1kg)

$3.32

Beef Round (1kg) (or Equivalent Back Leg Red Meat)

$14.42

Transportation

Avg / Range

Transportation

Avg

Range

One-way Ticket (Local Transport)

$1.43

Gasoline (1 liter)

$0.99

Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car)

$24,297.27

Taxi Start (Normal Tariff)

$5.36

Taxi 1km (Normal Tariff)

$3.22

Taxi 1hour Waiting (Normal Tariff)

$18.59

Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car)

$20,406.42

Rent Per Month

Avg / Range

Rent Per Month

Avg

Range

Full Cost of Living Rankings

Overview Job Market

Banff Cost of Living

"Key Takeaways"

Banff offers a unique living experience with its breathtaking landscapes and vibrant community. However, the cost of living can be relatively high, especially in terms of dining and housing.
To manage expenses, consider dining at more affordable restaurants and exploring housing options outside the city centre.
Transportation costs are moderate, with affordable public transport and fuel prices, but taxi fares can add up quickly.

Conclusion

Living in Banff provides an unparalleled opportunity to enjoy the natural beauty and recreational activities of the Canadian Rockies. While the cost of living is on the higher side, especially for dining and housing, careful budgeting and lifestyle adjustments can help manage expenses.

Whether you're a resident or planning to move to Banff, understanding these costs will aid in making informed financial decisions and enjoying all that this picturesque town has to offer.

Banff