Cost of Living in Yellowknife: Updated Prices, Comparison with Other Cities

If you are considering relocating to Yellowknife for higher education, it’s essential to understand the cost of living in Yellowknife to manage your budget and ensure a comfortable experience. Understanding the living costs will help you navigate your finances effectively while living in one of the top 11% of most expensive cities globally. Yellowknife ranked 13th out of 153 in Canada for cost of living.

Students in Yellowknife enjoy a high quality of life, but it’s important to be prepared for the expenses they will encounter there. This guide outlines the cost of living in Yellowknife and a detailed overview to help you make an informed decision about your move to Yellowknife. Keep reading to find out more about what is the cost of living in Yellowknife, Canada.

Cost of Living in Yellowknife Overview

The average cost of living in Yellowknife for a single person is approximately CAD 3,182 per month, according to LivingCost Data. If we break it down, the rent for a one-room apartment ranges from CAD 1,634 to CAD 1,753 per month. Food expenses are about CAD 850 per month, and transportation costs are around CAD 89.20 per month.

The overall cost of living in Yellowknife can vary based on lifestyle choices, the specific area, and other personal factors. The type of accommodation, food preferences, and personal spending habits. All these costs play a significant role in determining the final costs. This detailed overview provides a clearer picture for those considering a move to Yellowknife, helping in effective financial planning.

Also Read: Cost of Living in Calgary: Updated Prices, Other Cities Comparison

Costs of Accommodation in Yellowknife

Compared to many other Canadian provinces, accommodation costs in Yellowknife are generally more affordable. Housing expenses make up a significant portion of the overall cost of living in Yellowknife. When planning your budget for Yellowknife, it’s important to consider these costs. Before moving, it is essential to thoroughly research and compare apartment rents in different areas to ensure they meet your needs and budget.

Rental costs can vary based on location, size, and type of accommodation. For instance, a one-bedroom apartment in Yellowknife’s city centre typically costs around CAD 1,974. To help you better understand housing expenses, we have compiled average cost data for various flats both inside and outside the city centre.

Apartment Type	Location	Approx. Monthly Cost
1 bedroom	in the City Centre	CAD 1974
3 bedrooms	in the City Centre	CAD 2821
1 bedroom	Outside of Centre	CAD 1841
3 bedrooms	Outside of Centre	CAD 2437

Cost of a Utility in Yellowknife 

Utilities in Yellowknife cover a range of essential services that enhance the quality of life. These services include electricity, water, heating, internet, and waste management. Understanding the costs associated with these utilities can help students manage their monthly expenses more effectively.

For a one-bedroom apartment in Yellowknife, the monthly utility costs are typically around CAD 247. However, this amount can vary based on the type of services used and the size of the apartment. It’s important to factor in utility expenses when calculating the overall cost of living in Yellowknife, as they can significantly impact your budget. Below is an overview of the average utility expenses in Yellowknife:

Utility Type	Utility Name	Approx. Cost
Basic Utility Bills	Water, Electricity, Heating, etc	CAD 247
Internet	50 Mbps+, Unlimited Data, Cable/ADSL monthly	CAD 134
Mobile Phone	Monthly Plan with Calls and 10GB+ Data	CAD 90

Also Read: Cost of Living in Saskatoon: Updated Prices, Comparison with Other Cities

Costs of Dining in Yellowknife

Yellowknife boasts a diverse restaurant scene that caters to all tastes and preferences, offering a range of dining experiences. Whether you’re in the mood for local cuisine or international flavours, dining out in Yellowknife can be both enjoyable and affordable. However, the cost of eating out varies based on the type of restaurant, the cuisine, the number of diners, and the location.

Eating out regularly can affect the student budget and the overall cost of living in Yellowknife. Consequently, cooking at home is often a more economical choice. Here is an approximate estimate of the average cost of a meal at restaurants in Yellowknife:

Type of Restaurant	Approx Cost of Meal in Restaurant
Lunch Menu	CAD 20.4
Dinner in a Restaurant, for 2 person	CAD 117
Fast food meal, equiv. McDonald’s	CAD  13.2
Cappuccino	CAD 7.64

Cost of Grocery in Yellowknife

Grocery expenses are a significant portion of the daily cost of living, particularly if you prepare your meals at home. Your meal preferences will largely dictate your grocery budget, which in turn impacts the overall cost of living in Yellowknife, Canada.

To save money on groceries in Yellowknife, it’s beneficial to compare prices across different stores and vendors. Grocery prices can vary depending on the quality and quantity of the products, as well as the location and availability of the store. Below is a table summarizing the average grocery expenses in Yellowknife for those planning to cook at home:

Grocery Item	Approx Cost
Water (1.5 litre bottle)	CAD 1.53
Milk (regular), (1 litre)	CAD 3.36
Loaf of Fresh White Bread (500g)	CAD 4.5
Rice (white), (1kg)	CAD 6.6
Eggs (regular) (12)	CAD 4.82
Local Cheese (1kg)	CAD 10.24
Apples (1kg)	CAD 7.2
Banana (1kg)	CAD 2.89
Oranges (1kg)	CAD 7.87
Tomato (1kg)	CAD 10.93
Potato (1kg)	CAD 5.33
Onion (1kg)	CAD 4.75
Lettuce (1 head)	CAD 4.66

Transportation costs in Yellowknife

Yellowknife features a well-developed transportation infrastructure, including roads, highways, ferries, trails, waterways, and railway systems. This network effectively meets the needs of its residents, ensuring connectivity and accessibility throughout the area.

As a student, evaluating transportation costs in Yellowknife is crucial, as commuting to and from college will be a regular part of your routine. Transportation expenses can significantly impact your overall cost of living in Yellowknife. To help you estimate your transportation budget, we’ve provided a table with average transportation costs below. Review it to plan your travels around the Yellowknife area comfortably.

Mode of Transport	Approx Cost
Ticket for Monthly Pass in a Public transport	CAD 75.6
Ticket for Local Public transport	CAD 3.04
Local tariff for the Taxi Ride of 8 km	CAD 32.3
1 L or 0.26 gal Gas / Petrol	CAD 1.65

Also Read: Cost of Living in Regina: Food, Room Rent & Transportation

Miscellaneous Costs in Yellowknife

In addition to essential living expenses like housing, utilities, transportation, and groceries, you may encounter various miscellaneous costs during your time in Yellowknife. These can include a gym subscription, movie tickets, clothing, minor medical appointments, and more. These miscellaneous expenses should be taken into account when managing your budget for the cost of living in Yellowknife.

While these costs can vary based on individual lifestyles and preferences, they are crucial for overall financial planning. You may find these expenses becoming relevant after you have settled into your new routine in Yellowknife. Please refer to the table below for a detailed list of these charges.

Miscellaneous	Approx Cost
Movie Ticket	CAD 12.9
Brand Jeans	CAD 100
Fitness Club	CAD 121
Brand Sneakers	CAD 170
Doctor’s visit	CAD 94.1

Cost of Living in Yellowknife Compared to Other Cities

Yellowknife is often regarded as a moderately priced city to live in compared to other Canadian cities. When evaluating the cost of living in Yellowknife, several factors such as housing, transportation, food, and entertainment come into play. Despite these expenses, Yellowknife remains an appealing choice within Canada for those looking for a balanced lifestyle with relatively lower living costs.

So to give you an idea of ​​how the cost of living in Yellowknife compares to other cities like Ontario, Alberta, Manitoba, Calgary, Saskatchewan, Toronto, Vancouver, Edmonton, and Canada. We’ve given the cost of living in other cities. Please have a look:

Cost of Living City Wise	Average Cost of living (including rent)	Comparison with Cost of Living in Yellowknife
Cost of Living in Ontario	CAD 3072	Lower than Yellowknife
Cost of Living in Toronto	CAD 3510	Higher than Yellowknife
Cost of Living in Manitoba	CAD 2306	Lower than Yellowknife
Cost of Living in Calgary	CAD 2879	Lower than Yellowknife
Cost of Living in Saskatchewan	CAD 2306	Lower than Yellowknife
Cost of Living in Alberta	CAD 2592	Lower than Yellowknife
Cost of Living in Edmonton	CAD 2360	Lower than Yellowknife
Cost of Living in Canada	CAD 2782	Lower than Yellowknife
Cost of Living in Vancouver	CAD 3494	Higher than Yellowknife

Average Tuition Fees in Yellowknife

Understanding the tuition fees at universities of Yellowknife is crucial as they significantly impact the overall cost of living in Yellowknife. Tuition fees in Yellowknife vary based on the institution, specific program, and level of study chosen. Prospective students should carefully consider their educational goals and financial resources.

By doing careful financial planning, students can maximize their opportunities to obtain a high-quality education from their desired university or college at an affordable price. It is advisable to check for financial aid or scholarships on the official websites of the universities. Below is a table summarizing the tuition fees at university in Yellowknife:

Name of University	Approx Tuition Per year
Aurora College	CAD 13,000 – CAD 18,000

Students can plan their finances more effectively by understanding the average tuition fees at universities in Yellowknife. Although tuition fees in Yellowknife are generally lower than in other Canadian universities.

Conclusion: Understanding the essential expenses that contribute to the cost of living in Yellowknife, Canada, is crucial for students to budget wisely. This knowledge empowers students to manage their finances effectively, immerse themselves in the local culture, and maintain a comfortable lifestyle while studying.

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FAQs on the Cost of Living in Yellowknife

So, this was all about the cost of living in Yellowknife. Many Indian students dream of pursuing education in foreign nations due to the exposure and career growth they offer. Consider joining a free counselling session with Leverage Edu if you plan to study abroad.