Cost of Living in Toronto (Canada)

Toronto is a vibrant and growing city. If you plan on moving here, you should know what you’re getting into before the big day arrives.

In this short entry, you’ll get a detailed overview of the cost of living in Toronto.

Note: The currency in this article is shown in Canadian Dollars (CAD), and the data is mostly taken from Numbeo. The actual prices can change at any given moment.

Average Cost of Living

At the time of writing, living in Toronto costs $3,415 per month on average for a single individual.

Housing Costs

Housing costs are an important piece of the living cost equation, as Toronto isn’t a cheap city in this regard. There’s an increasing demand for housing that makes the prices skyrocket.

Renting a one-bedroom apartment in the city center costs $2,172 per month. For a three-bedroom apartment in Downtown Toronto, you can expect to pay around $3,500. Note that the price can vary drastically depending on the location.

If you plan on buying a home in Toronto, the average price per square foot for apartments in the city center is $1,190. Outside of the city center, expect to pay around $911.

Transportation

Getting around Toronto can be challenging without a car given the city’s size. The Toronto Transit Commission (TTC) operates subways, buses, streetcars, and a rail network. There are six subway lines, 250+ stations, and 1,000+ bus stops.

You can purchase student or adult fares depending on your age or student status. If you get a Presto card with a special electronic system payment, you can get a discount as well.

The price for a ride for adults with Presto cards is $3.20, while the full price for payments in cash is $3.25. For students and seniors (65+), the price is $2.25 with Presto and $2.30 for the full fare.

The monthly pass for the TTC is $156 for adults and $128.15 for youth and seniors.

Utilities

Utilities in Toronto are fairly expensive compared to other Canadian cities. On average, you can expect to pay around $160 for utilities for a two-bedroom place. The cable cost comes at an extra $59 per month.

Here’s the basic overview of utility costs at the time of writing:

Groceries

Grocery prices in Toronto are a bit higher compared to other cities in the country. Here’s an overview of the prices of staple foods at the time of writing this article, according to Numbeo.

Clothes

As far as clothes are concerned, the prices in Toronto average a bit higher compared to other cities.

Ready to Move to Toronto?

Like most big cities, the cost of living in Toronto over the past few years has been slowly increasing. However, plenty of job opportunities, high salaries, and a great atmosphere make living in Canada’s largest city enjoyable.

Hopefully, you now have a better idea of what you can expect when you finally get to Toronto.