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I did visit Seattle recently for the first time, however, and there was not much to do there as a visitor. There was a sculpture of a troll under a freeway, a wall covered in people's old gum they were chewing on (ew), a frumpy old public market (that sucked compared to Granville Market), and the needle. Pretty lame compared to Vancouver, but at least you can afford a more comfortable lifestyle there.
Obviously you haven't done any research because you haven't seen anything in Seattle.
If really depends on your future plans, two cities being great place to live. If you son will only be there for college, I think spending 4 years in Vancouver is a great idea. If you and your son intends to find jobs, Seattle definitely offers way more opportunities career wise AND money wise. What will your son be studying is another factor as Seattle's economy seems a lot more diversified than Vancouver.
Since you mentioned fixed income of 45-50K, in Seattle it definitely goes a lot further.
I have lived in both cities. I would pick Seattle hands down.
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