Strata Fees: $300 to $600+ a Month on an Average Condo
Metro Vancouver strata fees run roughly $0.35 to $0.75 per square foot per month in 2026. On an 800 sq ft condo, that's $280 to $600 a month, concrete towers with pools and concierge land at the high end, simple wood-frame walk-ups and townhouses at the low end.
Two things are pushing fees up:
Insurance now eats 25% to 35% of many strata budgets, after years of sharp premium increases across BC.
Mandatory reserve contributions. Stratas must direct a minimum share of the operating budget into the contingency reserve every year, so it's baked into your fee, not optional.
Example: a 750 sq ft condo at $0.55/sq ft runs about $413/month, or $4,950/year, before you've paid a cent toward the mortgage.
Before you offer, pull the depreciation report and the last two AGM minutes. A $450/month fee with a funded reserve beats a $300/month fee that's one leaky roof away from a $15,000 special levy.
Property Tax: A Few Thousand a Year, Depending on Assessed Value
City-related levies run roughly $3 to $3.50 per $1,000 of assessed value, with the province, TransLink and Metro Vancouver adding to that on your notice.
Example: a $1.2 million assessed home lands around $4,000/year before grants. On an $700,000 condo, that's roughly $2,350/year.
The BC Home Owner Grant can reduce your bill by up to $570 for a principal residence in Metro Vancouver, or up to $845 if you qualify as a senior, veteran or person with a disability. For 2026, the grant starts phasing out on homes assessed above $2.075 million and disappears entirely above roughly $2.19 million (basic) or $2.24 million (additional).
Rates are set annually, you should confirm the current mill rate before finalizing a budget.
Insurance: Budget $300 to $1,500+/Year
Condo owners still need contents and liability coverage on top of the building's master policy, typically $300 to $600/year for a one or two-bedroom unit. House owners insure the full structure themselves, commonly $900 to $2,200/year in BC depending on size, age, location, and claims history, and premiums have climbed with rebuilding costs province-wide.
Get a real quote before subjects come off, not after possession.
Maintenance Reserve: Plan for 1% of Home Value a Year
Strata fees cover the building. They don't cover what's inside your unit, or anything at all if you own a house.
Example: on a $700,000 condo, setting aside 1% a year is $7,000, enough to absorb a $1,200 dishwasher and a $2,500 hot water tank without touching a credit card. This is a common rule of thumb, not a fixed rule, so treat it as a starting point rather than a guarantee.
If you want this broken down for a specific property you're looking at, that's a five-minute conversation, reach out any time.
General information only, not tax, legal, or financial advice. Rates and fees change annually, confirm current numbers before making a purchase decision.
