2024 Cost of Living in Prince Edward Island – Your Ultimate Guide
Cost of Living in Prince Edward Island: Average Monthly Cost and Affordable Housing Options
The Cost of Living in Prince Edward Island on Rent, utilities, groceries, transportation, and entertainment cost an average of $1,316 a month. The province’s beauty has many people curious about living costs, so we’re discussing it today. Prince Edward Island is appealing for many reasons, including its kind people and good quality of life. Recent assessments show that while living expenditures on the island are lower than in many large Canadian cities, it is the tenth most costly and twelfth best place to live in Canada.
Restaurant meals, groceries, transportation, utilities, and lodging are included in the cost of living breakdown. For instance, a gallon of milk costs $9.83 and a supper for two at a mid-range restaurant costs $87.50. A one-way local transport ticket costs $2, while a monthly pass costs $60. A gallon of gas costs $6.18. Average monthly utilities for a 915-square-foot apartment are $202.16, and internet service is $113.57.
Budget-friendly Cost of Living in Prince Edward Island rentals are available. One-bedroom apartment rent in the city center averages $1,270, while outside the center it’s $1,065. Apartments cost an average of $243,000, with mortgages at 3.96% over 20 years.
Living the Island Dream: Cost of Living in Prince Edward Island
Rural Prince Edward Island has cheaper homes than highly populated cities. Public transportation and taxis are cheap for convenient commuting.
Besides economic living, Prince Edward Island has a good education system. Excellent schools and institutions make the province suitable for families. For those seeking a gorgeous and economical Canadian lifestyle, Prince Edward Island offers a tempting option for cost of living and quality of life.