Vancouver is famous for its stunning natural scenery and vibrant culture – and for its expensive housing. The cost of living in Vancouver is high, especially when it comes to real estate. As of mid-2025, the Vancouver housing market remains one of the priciest in Canada, with the average home selling for around $1.17 million. Affordability is the number one concern for local homebuyers, so finding affordable neighborhoods in Vancouver is key to getting a foothold in the market. The good news is that this bustling metropolis does have some pockets of relative affordability – places where you can find cheaper homes in Vancouver without sacrificing a great lifestyle.
Whether you're a first-time buyer trying to break into the Vancouver real estate market, a family looking for a community you can grow in, or an investor seeking value and future growth, this guide will help you figure out where to buy a house in Vancouver that won’t break the bank. We’ll highlight several of the best areas to buy in Vancouver in 2025 if you’re on a budget. These neighborhoods offer more reasonable home prices (by Vancouver standards), strong community amenities, and solid long-term potential. Let’s dive into the cheapest places to live in Vancouver for aspiring homeowners!
Renfrew-Collingwood – Affordability Meets Accessibility
Renfrew-Collingwood is often the first neighborhood mentioned when talking about affordable homes in Vancouver. Located on the city’s eastern border next to Burnaby, this area gives you a lot of bang for your buck in terms of location and price. It’s popular with families, first-time homebuyers, and investors all looking to get more value for their money.
This neighborhood offers a mix of housing options, from older single-family houses to duplexes and condos. Prices here are generally lower than the city average, making it one of the more accessible areas for buyers looking to break into the market.
Community and amenities: Parks, schools, and local shops are plentiful. Families enjoy Renfrew Ravine Park, Collingwood Park, and community centres with activities for all ages. The area is diverse and full of cultural variety, which makes it a lively, welcoming place to call home.
Transit and access: With Joyce-Collingwood and 29th Avenue SkyTrain stations, you can reach downtown in minutes. For those who drive, the major routes are nearby, making commuting manageable.
Why buy here in 2025: Renfrew-Collingwood provides an entry point into the Vancouver property market and is seen as having strong long-term potential. Prices are more reasonable, the community is family-friendly, and transit is excellent.
Hastings-Sunrise – An East Van Hidden Gem
Hastings-Sunrise is tucked into Vancouver’s northeast corner and is quickly becoming one of East Van’s most desirable areas for budget-conscious buyers. It’s often called a hidden gem because it offers relative affordability while providing a fantastic quality of life.
Home prices and value: Detached homes, townhouses, and duplexes here are generally less expensive than the city average, giving buyers more space for their money. For those searching for affordable homes in Vancouver, Hastings-Sunrise provides one of the best opportunities.
Neighborhood vibe: Known for its family-friendly atmosphere, Hastings-Sunrise offers tree-lined streets, local eateries, and cultural diversity. Parks like New Brighton Park and Hastings Park provide green spaces and recreation.
Why buy here in 2025: With great access to downtown and the North Shore, this neighborhood is an excellent balance of affordability and convenience. Many see Hastings-Sunrise as a “quiet climber” – steadily appreciating in value while still accessible for first-time buyers.
Kensington-Cedar Cottage – Community Charm on a Budget
Kensington-Cedar Cottage is one of the most affordable neighborhoods in Vancouver. The mix of older homes, duplexes, and condos means buyers have a variety of options here.
Housing and value: The neighborhood has one of the highest proportions of duplexes in Vancouver, giving buyers an alternative to detached homes. Condos and townhouses here are also priced below the city average.
Lifestyle: This community is family-oriented and diverse, with a strong sense of pride. Trout Lake Park is a centerpiece of the area, offering outdoor space in the middle of the city. Local shops and markets give the neighborhood character.
Why buy here in 2025: It’s affordable, central, and offers excellent community amenities. Buyers can still find good deals compared to nearby neighborhoods, making it one of the best areas to buy in Vancouver for first-time homeowners.
Mount Pleasant – Trendy Vibes, Within Reach
Mount Pleasant might not sound “affordable,” but compared to downtown or the West Side, it offers better value. This area is known for its Main Street culture, creative vibe, and growing condo scene.
Affordability: Condos here often start in the $600k–$800k range, which is lower than downtown units. Townhouses are also available, giving families a way to live in one of the city’s most dynamic areas.
Lifestyle: The area is packed with breweries, galleries, shops, and eateries. Families and professionals alike love the walkability and community energy. The upcoming Broadway SkyTrain extension will make it even more connected.
Why buy here in 2025: If you want a central lifestyle and are comfortable with condo living, Mount Pleasant gives you a strong balance of location, lifestyle, and affordability compared to many other neighborhoods.
Marpole – Affordable Living on the West Side
Marpole offers one of the few ways to live on the West Side without paying premium prices.
Housing: With plenty of low-rise apartments, new condos around Marine Drive, and older detached homes, Marpole provides multiple entry points into the market.
Lifestyle and location: Marpole is diverse, full of restaurants, parks, and close to the airport. Marine Gateway has added modern amenities like shopping, groceries, and entertainment.
Why buy here in 2025: For those wanting a West Side address at a more approachable price, Marpole is an excellent choice. Its future growth potential also makes it attractive to investors.
Sunset – Multicultural and Budget-Friendly
Sunset is South Vancouver’s most affordable neighborhood, known for its diversity and welcoming atmosphere.
Affordability: Homes here are among the most budget-friendly in Vancouver, with many modest detached houses and townhomes available.
Community: The Punjabi Market and a strong cultural presence make Sunset vibrant and family-friendly. Schools, parks, and community centres add to the livability.
Why buy here in 2025: Sunset is ideal for buyers wanting space, culture, and affordability. For first-time buyers, it’s one of the most realistic options for buying a home in Vancouver.
Killarney – Peaceful Suburbia in the City
Killarney is in southeast Vancouver and is perfect for families wanting a suburban feel.
Affordability: Detached homes and townhouses here are often less expensive than in central neighborhoods, giving families more value.
Lifestyle: With Killarney Park, Everett Crowley Park, and Champlain Square, residents enjoy lots of green space and amenities.
Why buy here in 2025: Killarney offers space and calm at a lower cost, making it a great option for families looking to stay in Vancouver without being overwhelmed by housing costs.
Tips for Buying a Home in Vancouver’s Affordable Areas
-
Get pre-approved and set your budget – Know exactly what you can afford before shopping.
-
Do your homework on the neighborhood – Check schools, transit, and amenities.
-
Be ready to act – Affordable homes sell fast even in a slower market.
-
Inspect thoroughly – Address small issues early before they become big ones.
-
Think long-term – Consider future growth, transit plans, and neighborhood development.
Conclusion
While Vancouver is expensive, there are still affordable neighborhoods in Vancouver that give buyers a chance to own a home without overextending financially. Areas like Renfrew-Collingwood, Hastings-Sunrise, Kensington-Cedar Cottage, Marpole, Sunset, and Killarney provide affordable homes in Vancouver with strong communities and good future value.
Whether you’re a first-time buyer, a growing family, or an investor, these are the best areas to buy in Vancouver in 2025. By choosing the right community, you can secure a home in this beautiful city while keeping your budget in check.
Looking for the right neighborhood that fits your lifestyle and your budget? At PLACE Real Estate Team – Oakwyn Realty, I help buyers, sellers, and investors make smart real estate decisions in Vancouver’s competitive market. If you’re ready to explore the most affordable homes in Vancouver or want advice on the best areas to buy in Vancouver for 2025, let’s talk.
FAQs About Affordable Homes in Vancouver
1. What are the cheapest places to live in Vancouver right now?
Renfrew-Collingwood, Hastings-Sunrise, Kensington-Cedar Cottage, Sunset, Marpole, and Killarney are among the most affordable neighborhoods in 2025.
2. Is it possible to buy a detached home in Vancouver under $2 million?
Yes. Areas like Killarney, Sunset, and Renfrew-Collingwood still have detached homes priced below the city’s average, making them good options for families.
3. Are condos still a good entry point for first-time buyers?
Absolutely. Neighborhoods like Mount Pleasant and Marpole have condos starting in the $600k–$800k range, making them more attainable than detached homes.
4. How do Vancouver real estate prices compare to nearby suburbs?
Generally, suburbs like Burnaby, New Westminster, and Surrey offer lower prices, but many buyers prefer to stay in Vancouver proper for lifestyle and convenience.
5. Which areas have the best long-term investment potential?
East Vancouver neighborhoods such as Hastings-Sunrise and Kensington-Cedar Cottage are expected to grow in value as more buyers look for affordable homes and strong communities.
Leave A Comment