Cost of living in Toronto
Canada’s economic centre: single-payer healthcare and high safety, offset by housing costs that outpace local salaries.
Build your own budget
Monthly spending by category: Housing $1,950, Food $764, Transport $207, Utilities $227, Healthcare $9.10, Lifestyle $168, Other $110.
1-bed, city centre Median advertised rent for this unit type Estimated $1,950
Salary and tax in Toronto
| Gross salary (USD/yr) | Income tax | Social contributions | Take-home / month | Effective rate | Left after costs |
|---|---|---|---|---|---|
| $40,000 | $6,978 | $2,960 | $2,505 | 24.8% | -$930 |
| $75,000 | $16,791 | $3,620 | $4,549 | 27.2% | $1,114 |
| $120,000 | $31,751 | $3,620 | $7,052 | 29.5% | $3,617 |
| $200,000 | $62,296 | $3,620 | $11,174 | 33.0% | $7,738 |
- Ontario income tax applied at 9.50%.
- Federal brackets with the basic personal amount.
- Provincial tax applied as a flat approximation of the local effective rate.
People who actually live in Toronto
Quality of life
A year of weather in Toronto
Average monthly temperature in Toronto: January -2.6 degrees, February -2.4 degrees, March 1.8 degrees, April 7.4 degrees, May 13.3 degrees, June 19.4 degrees, July 22.6 degrees, August 20.7 degrees, September 18.3 degrees, October 12.2 degrees, November 5 degrees, December -0.2 degrees. The shaded band is the average daily high and low.
Where these numbers come from
Share of this budget, weighted by money rather than by field count, that rests on a published source rather than our model.
- Measured0%
- Taken directly from a published source. No modelling in between.
- Derived35%
- Anchored to a measured source, then adjusted. The adjustment is stated.
- Estimated65%
- Modelled from regional relationships. Nobody measured this one.
Prices in Toronto
| Item | USD | CAD |
|---|---|---|
| Housing (monthly rent) | ||
| One-bedroom, city centre | $1,950 | CA$2,731 |
| One-bedroom, outside the centre | $1,550 | CA$2,171 |
| Three-bedroom, city centre | $3,400 | CA$4,761 |
| Three-bedroom, outside the centre | $2,500 | CA$3,501 |
| Buy price per m², city centre | $9,000 | CA$12,604 |
| Bills | ||
| Utilities, 85m² apartment | $140 | CA$196 |
| Home internet, 60 Mbps+ | $74 | CA$104 |
| Mobile plan | $62 | CA$87 |
| Food | ||
| Groceries, one adult per month | $459 | CA$643 |
| Meal at an inexpensive restaurant | $19 | CA$27 |
| Three-course dinner for two | $92 | CA$129 |
| Coffee | $4.36 | CA$6.11 |
| Beer in a bar | $7.75 | CA$11 |
| Transport | ||
| Monthly transit pass | $130 | CA$182 |
| Taxi, per km | $2.15 | CA$3.01 |
| Petrol, per litre | $1.15 | CA$1.61 |
| Health, family & lifestyle | ||
| Health insurance, per adult | $85 | CA$119 |
| Full-time childcare, one child | $1,400 | CA$1,961 |
| International school, per year | $32,000 | CA$44,812 |
| Gym membership | $45 | CA$63 |
| Cinema ticket | $12 | CA$17 |
Prices are held in USD and converted at the August 2026 snapshot rate. Last reviewed 2026-08-01. Every figure carries its own provenance — see where these numbers come from.
Living and working here
No dedicated nomad visa, but visitors may work remotely for a foreign employer for up to 6 months. Express Entry is the main permanent route.
1 USD ≈ CA$1.40
America/Toronto
continental climate
Compare Toronto with…
Getting set up in Toronto
The things people end up arranging in the first month in Toronto — usually in roughly this order. We have picked services that work before you have local residency, which is the constraint that catches most people out.
- AiraloesimData eSIM for the first weeks before you get a local number.
- SafetyWinginsuranceHealth and travel cover written for people living outside their home country.
- WisetransferMoving money between currencies without the bank spread.
- RevolutbankingA multi-currency account that works before you have local residency.
- Kiwi.comflightsOne-way and multi-city routing for a move rather than a return trip.
- Booking.comstaysSomewhere to land for the first month while you look at flats.
These are affiliate links: if you sign up, we may be paid a commission at no extra cost to you. It does not change what any of them costs, and it has no bearing on the numbers anywhere else on this page — those come from the model, not from anyone paying us.
Know what things really cost here?
No submissions yet. Yours would be the first.
We publish the median, not the mean — one mis-keyed rent should not move the number.
Frequently asked
How much money do you need per month to live in Toronto?
A single adult renting a one-bedroom in the centre and living moderately needs roughly $3,435 a month, of which $1,950 is rent. A couple sharing that flat needs about $4,550, and a family of four in a three-bedroom outside the centre with childcare needs about $9,048.
Is Toronto expensive?
On our index Toronto scores 54 where New York is 100 — about 46% below New York for the same household. The average local net salary of $3,400 a month covers 1.0× that budget.
What salary do you need in Toronto?
To cover the single-adult budget of $3,435 a month after tax, you need roughly $56,000 gross a year — before any saving. Add 30–40% on top if you want to save meaningfully.
How much is rent in Toronto?
A one-bedroom in the centre averages $1,950 a month, $1,550 outside the centre. A three-bedroom runs $3,400 central and $2,500 further out.
Can you work remotely from Toronto?
No dedicated nomad visa, but visitors may work remotely for a foreign employer for up to 6 months. Express Entry is the main permanent route.
Sources
- World Bank – ICP price level & PPP indicators— price levels, purchasing power normalisation
- OECD – Prices and purchasing power parities— price levels, household consumption
- Open-Meteo historical climate archive— climate
- exchangerate.host / ECB reference rates— currency conversion
Figures are modelled estimates built for comparison between cities, not a quote for any individual. Read the full methodology.