^ Rent in Vancouver is relatively cheap imo.
There are many nice ground floor units in Vancouver in newer (>10 years) that one can rent for about $700 (1 bed) to $1000 (2 bed), utilities included. It should be cheaper (or you get a bigger unit) in the suburbs.
Just because buying a place right now is a ripp off doesn't make Vancouver expensive imo. In fact I think living in Vancouver atm is a really good value, you just have to spend your money wisely (ie. I would rent over buy and save the rest). Also food is pretty cheap in Vancouver because the competition is so fierce; just skip the fancy pants stuff.