A data-driven comparison of Metro Vancouver's three largest cities for home buyers. Compare prices, transit access, schools, amenities, and investment potential to find your ideal location.
“Should I buy in Vancouver, Burnaby, or Richmond?” It’s one of the most common questions from buyers new to Metro Vancouver. Each city has distinct character, pricing, and lifestyle offerings—and the “right” answer depends entirely on your priorities.
This comparison breaks down the data across pricing, transit, schools, and lifestyle to help you make an informed decision. While Rain City Properties focuses on Vancouver, understanding the broader metro context helps you evaluate whether Vancouver’s premium is worth it for your situation.
Price Comparison: 2026 Market Snapshot
Let’s start with the numbers that matter most:
Detached Homes
| City | Median Price | Price/Sq Ft | Year-over-Year |
|---|---|---|---|
| Vancouver (West Side) | $3,400,000 | $1,150 | +2.1% |
| Vancouver (East Side) | $1,750,000 | $850 | +3.2% |
| Burnaby | $1,850,000 | $780 | +4.1% |
| Richmond | $1,950,000 | $720 | +2.8% |
Observation: Vancouver’s west side commands a significant premium. East Vancouver prices are comparable to Burnaby, while Richmond offers slightly more space for similar money.
Condos
| City | Median Price | Price/Sq Ft | Year-over-Year |
|---|---|---|---|
| Vancouver (Downtown) | $785,000 | $1,250 | +1.8% |
| Vancouver (Other) | $680,000 | $950 | +2.4% |
| Burnaby (Metrotown) | $620,000 | $850 | +3.5% |
| Burnaby (Brentwood) | $650,000 | $880 | +4.2% |
| Richmond (City Centre) | $580,000 | $780 | +2.9% |
Observation: For condos, Burnaby and Richmond offer 15-25% savings over comparable Vancouver locations, often with newer building stock.
Townhouses
| City | Median Price | Price/Sq Ft | Year-over-Year |
|---|---|---|---|
| Vancouver | $1,350,000 | $780 | +2.9% |
| Burnaby | $1,150,000 | $680 | +3.8% |
| Richmond | $1,100,000 | $640 | +3.2% |
Observation: Townhouses show the most consistent pricing across the region. Burnaby and Richmond offer 15-20% savings with often newer product.
Transit and Commute Comparison
For many buyers, SkyTrain access is non-negotiable. Here’s how the cities compare:
SkyTrain Coverage
Vancouver:
- Expo Line through Downtown, Main Street, Commercial-Broadway
- Canada Line through Downtown, Cambie Corridor, YVR
- Millennium Line extension to Broadway (completed 2025)
- Excellent coverage in central areas, limited in east/south
Burnaby:
- Expo Line through Metrotown, Edmonds, Patterson, Royal Oak
- Millennium Line through Brentwood, Gilmore, Holdom, Sperling-Burnaby Lake, Lake City Way, Production Way
- Comprehensive coverage of major centres
Richmond:
- Canada Line through Bridgeport, Aberdeen, Lansdowne, Richmond-Brighouse
- Limited to central corridor along No. 3 Road
- No coverage of west or east Richmond
Commute Times to Downtown Vancouver
| Origin | By SkyTrain | By Car (Rush Hour) |
|---|---|---|
| Vancouver (Kitsilano) | 25 min | 30-45 min |
| Vancouver (Mount Pleasant) | 15 min | 20-35 min |
| Burnaby (Metrotown) | 25 min | 35-50 min |
| Burnaby (Brentwood) | 20 min | 30-45 min |
| Richmond (City Centre) | 25 min | 40-60 min |
Observation: SkyTrain equalizes commute times across the region. The “suburban” feel of Burnaby and Richmond doesn’t mean longer commutes if you’re near rapid transit.
Bus Network Quality
- Vancouver: Extensive bus network, high frequency on main corridors
- Burnaby: Good coverage, especially connecting to SkyTrain
- Richmond: More car-dependent outside the Canada Line corridor
Schools and Family Amenities
For families, school quality often drives location decisions:
School District Rankings
Vancouver School Board (VSB):
- Generally strong academics across the district
- Notable schools: University Hill, Lord Byng, Prince of Wales
- French immersion widely available
- Growing enrollment pressure in popular catchments
Burnaby School District:
- Consistently solid provincial rankings
- Strong programs: Burnaby North, Cariboo Hill, Byrne Creek
- Growing investment in facilities
- Less catchment pressure than Vancouver
Richmond School District:
- Strong academic performance
- Notable: Richmond Secondary, Steveston-London, McMath
- Excellent Mandarin bilingual programs
- More space in many schools
Family-Friendly Amenities
Vancouver:
- Unmatched parks (Stanley Park, Queen Elizabeth, Pacific Spirit)
- Beaches and seawall
- Museums, aquarium, Science World
- Higher density means smaller yards
Burnaby:
- Burnaby Lake, Deer Lake, Central Park
- Burnaby Village Museum, Metropolis at Metrotown
- More townhouse/detached options with yards
- Good recreation facilities
Richmond:
- Steveston Village (historic fishing village)
- Richmond Olympic Oval, Minoru Complex
- Dyke trails for cycling
- Flat terrain ideal for young cyclists
Lifestyle and Character
Each city has distinct personality:
Vancouver
The appeal:
- Urban sophistication and cultural amenities
- Walkable neighbourhoods with character
- Restaurant and nightlife scene
- Proximity to ocean and mountains
- Established neighbourhoods with mature trees
The tradeoffs:
- Highest prices in the region
- Older housing stock in many areas
- Parking challenges in dense areas
- Property taxes relatively high
Best for: Those prioritizing urban lifestyle, walkability, and willing to pay premium for location.
Burnaby
The appeal:
- Central location between Vancouver and suburbs
- Newer housing stock, especially condos
- Major shopping (Metrotown, Brentwood)
- Lower prices than Vancouver for comparable units
- Strong job growth (tech, film industry)
The tradeoffs:
- Less neighbourhood character than Vancouver
- More suburban feel in many areas
- Limited waterfront access
- Some areas car-dependent
Best for: Buyers wanting newer product, good transit, and better value than Vancouver.
Richmond
The appeal:
- Most affordable of the three cities
- Exceptional Asian cuisine and cultural amenities
- Direct access to YVR airport
- Newer housing stock
- Strong Asian community and amenities
The tradeoffs:
- Flood plain considerations (though well-managed)
- More car-dependent outside Canada Line
- Further from mountains and outdoor recreation
- Less neighbourhood walkability in many areas
Best for: Buyers prioritizing value, Asian cultural amenities, or airport access.
Investment Potential
Looking at long-term appreciation and development:
Historical Appreciation (10-Year Average)
| City | Detached | Condo | Townhouse |
|---|---|---|---|
| Vancouver | 6.2%/year | 5.8%/year | 6.5%/year |
| Burnaby | 7.1%/year | 6.4%/year | 7.2%/year |
| Richmond | 5.9%/year | 5.6%/year | 6.1%/year |
Observation: Burnaby has outpaced Vancouver in recent years as transit improvements and development have increased desirability. Richmond appreciation has been steady but slower.
Development Pipeline
Vancouver:
- Broadway Plan adding significant density
- Limited land for new single-family
- Multiplex zoning enabling gentle density
- Cambie Corridor continuing to develop
Burnaby:
- Metrotown continuing massive densification
- Brentwood transforming rapidly
- Lougheed corridor development
- Significant new housing coming
Richmond:
- City Centre continuing to densify
- Capstan Station area developing
- More modest growth projections
- Some height restrictions due to flight paths
Rental Investment Considerations
Vancouver:
- Highest rents but also highest prices
- Strong tenant demand
- Older rental stock means more maintenance
- Vacancy rates consistently low
Burnaby:
- Growing rental demand near SkyTrain
- Newer buildings mean lower maintenance
- Cap rates often better than Vancouver
- Strong tenant pool from SFU, BCIT
Richmond:
- More affordable entry point for investors
- Good tenant demand in transit areas
- Chinese investor interest
- Highest rental yields of the three
Multiplex and Zoning Comparison
Understanding zoning affects long-term property potential:
Vancouver
- Bill 44 compliance enables multiplexes on most residential lots
- Up to 6 units on larger lots near transit
- Most advanced in missing middle implementation
- Strong development interest
Burnaby
- Recently updated zoning for missing middle
- Duplex and triplex permissions expanding
- Less aggressive than Vancouver but progressing
- See our analysis of Burnaby’s bylaw changes
Richmond
- More conservative approach to missing middle
- Focus on density in city centre
- Single-family areas largely preserved
- Less multiplex development opportunity
Decision Framework
Use this framework to guide your choice:
Choose Vancouver If:
- Urban lifestyle is your top priority
- You value walkable neighbourhoods
- Schools in specific catchments matter
- You want established neighbourhood character
- Budget allows for premium pricing
- You prioritize proximity to beaches/mountains
Choose Burnaby If:
- You want best value near SkyTrain
- Newer buildings/condos appeal to you
- Central location matters (work in Vancouver or suburbs)
- You’re comfortable with ongoing development
- Schools are important but catchment less specific
- You want more space for your dollar
Choose Richmond If:
- Affordability is the primary concern
- Asian cultural amenities are important
- You travel frequently (airport access)
- Flat terrain for cycling/accessibility matters
- You prefer quieter suburban feel
- You’re focused on rental investment returns
Vancouver Neighbourhoods: Where to Look
If you’ve decided on Vancouver, here are neighbourhoods at different price points:
Premium ($2M+ for detached, $800K+ for condo)
- Kitsilano: Beach lifestyle, excellent walkability
- Kerrisdale: Family-oriented, strong schools
- Dunbar: Quiet residential, near UBC
Mid-Range ($1.5-2M detached, $600-800K condo)
- Mount Pleasant: Hip, central, great restaurants
- Fairview: Central, good transit, established
- Cambie: Transit-oriented, developing rapidly
Entry-Level ($1.2-1.5M detached, $500-700K condo)
- East Vancouver neighbourhoods: Character, community, value
- Marpole: Developing, good transit coming
- South Vancouver areas: Larger lots, more affordable
Key Takeaways
- Vancouver commands 15-30% premium over Burnaby/Richmond for comparable homes
- SkyTrain access equalizes commute times—don’t assume suburbs mean longer commutes
- Burnaby offers best balance of transit, value, and newer housing stock
- Richmond provides most affordability and is best for airport access/Asian amenities
- Vancouver’s multiplex zoning creates unique development potential not available elsewhere
- Consider 5-10 year appreciation trends, not just current prices
Frequently Asked Questions
Is Burnaby cheaper than Vancouver?
Yes, generally 15-25% cheaper for comparable properties. A condo near Metrotown SkyTrain costs roughly $100,000-$150,000 less than a similar unit in comparable Vancouver locations. The gap narrows for premium Burnaby areas like Brentwood. Detached homes show similar spreads.
Which city has the best schools?
All three cities have good schools, and rankings vary by specific school. Vancouver has more “name brand” schools with long reputations. Burnaby and Richmond have excellent schools without the same catchment pressure. For specific schools, research Fraser Institute rankings and visit schools directly.
Should I buy near SkyTrain even if I don’t commute?
Yes, strongly consider it. SkyTrain access correlates with appreciation, rental demand, and future development potential. Even if you work from home, transit access adds significant resale value. Properties more than 800m from SkyTrain stations consistently underperform those within walking distance.
Is Richmond safe from flooding?
Richmond is on a flood plain and would be at risk in a major flood event. However, the city has invested heavily in dike systems and drainage infrastructure. Building codes account for flood risk, and insurance is available. The risk is managed but real—buyers should understand it and make informed decisions.
Where should first-time buyers look?
For first-time buyers, Burnaby near SkyTrain offers the best combination of value, transit, and appreciation potential. Areas like Brentwood, Metrotown, and Edmonds have newer buildings with good amenities at 15-25% below comparable Vancouver prices. If Vancouver is essential, look at East Vancouver condos or townhouses in developing areas.
Work with Rain City Properties
While this guide covers Metro Vancouver broadly, Rain City Properties specializes in Vancouver’s diverse neighbourhoods. Understanding how Vancouver compares to surrounding cities helps you make an informed decision about whether Vancouver’s premium aligns with your priorities.
Greyden Douglas has helped buyers from across the region find homes in Vancouver, with deep knowledge of neighbourhood differences, development trends, and investment potential. Whether you’re choosing between cities or have already decided on Vancouver, local expertise makes the difference.
Contact Greyden Douglas directly at (604) 218-2289 or book a call to discuss your Metro Vancouver home search.
