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    What Is the Cost of Living in Toronto?

    cost of living toronto
    (source: natgeofe)

    Toronto, the provincial capital of Ontario, is the most populous city in Canada. Toronto is an international centre for business, finance, art and is a leading multicultural and cosmopolitan city in the whole world. This city is considered an important destination to settle in.

    But, before settling in, it is very crucial to know the cost of living in Toronto.

    How Much Does C$ 1 Cost in INR?

    According to the data found for 25th April 2022, C$ 1 is equal to ₹ 60.2094.

    What Is the Average Cost of Living in Toronto?

    Toronto is considered more expensive than 66% of the cities in North America. The approximate cost of living in Toronto for a single person is C$ 3,600, and that of a family of four is C$ 6,200.

    What Are the Top Expenses of Living in Toronto?

    In this section, we have broken down the average cost of living in Toronto into the various factors that affect the monthly expenses in Toronto. These factors include –

    1. Housing

    Just like any other city, finding a decent living space is the first thing that comes to an individual's mind after moving to a new city. The monthly rent of various types of houses are mentioned in the table below –
    City District/ Studio 1 BHK 2 BHK 3+ BHK
    Liberty Village/ C$ 2,200 C$ 2,800 C$ 3,600 C$ 5,700
    Kensington/ C$ 1,900 C$ 2,400 C$ 4,186 C$ 2,700
    Parkdale/ C$ 1,800 C$ 2,100 C$ 2,700 C$ 3,700
    Yorkville/ C$ 2,300 C$ 3,100 C$ 4,800 C$ 5,700
    Runnymede/ NA C$ 2,000 C$ 2,300 C$ 4,500
    Riverdale/ C$ 1,800 C$ 3,000 C$ 3,300 C$ 5,000
    East Danforth/ C$ 1,500 C$ 1,900 C$ 2,700 C$ 4,300
    The Beaches/ C$ 1,900 C$ 2,300 C$ 2,900 C$ 5,400
    `

    2. Groceries

    The money spent on groceries every month depends on an individual’s preference and personal needs. Furthermore, the cost depends on where you buy the grocery items.

    Grocery Items

    Approximate Cost

    Milk (1 litre)

    C$ 3

    White bread (1 loaf)

    C$ 3

    White rice (1 kilogram)

    C$ 3

    Eggs (1 dozen)

    C$ 4

    Cheese (200 grams)

    C$ 15

    Chicken breast (1 kilogram)

    C$ 14

    Apples (1 kilogram)

    C$ 4

    Bananas (1 kilogram)

    C$ 2

    Oranges (1 kilogram)

    C$ 4

    Tomatoes (1 kilogram)

    C$ 4

    Potatoes (1 kilogram)

    C$ 3

    Onions (1 kilogram)

    C$ 3

    Lettuce (1 head)

    C$ 2

    3. Transportation

    The monthly cost of transportation depends on the distance of your workspace and university. Toronto is well connected with an efficient public transportation system known as TCC. This TCC system consists of buses, streetcars and subways.

    Fuel Cost/Transportation Service

    Approximate Cost

    One-way ticket (public transport)

    C$ 3

    Monthly pass (public transport)

    C$ 156

    Taxi 1 km normal tariff

    C$ 2

    Price of diesel (as of 21st February 2022)

    C$ 1.64 per litre

    Price of gasoline (as of 21st February)

    C$ 1.77 per litre

    Cabs (minimum cost)

    C$ 4.25

    [1] [2]

    4. Utilities

    One should also consider the cost of basic utilities such as electricity, gas supply, prepaid mobile plan and unlimited internet package while evaluating the monthly expenses for living in Toronto. The table below shows the approximate cost of some basic utilities –

    Utilities

    Approximate Cost

    Electricity, cooling, heating, water, garbage

    C$ 158

    Local prepaid mobile tariff (1 min)

    C$ 0.42

    Unlimited internet package

    C$ 73

    5. Entertainment and Leisure

    This area of expense includes dining at restaurants, social activities, going to a pub or nightclub, etc. The cost of entertainment primarily depends on where you go and the time you spend on these areas.

    Area of Expense

    Approximate Cost

    1 month gym membership

    C$ 61

    1 hour rent for a tennis court

    C$ 26

    1 seat at a cinema hall

    C$ 15

    Meal in an affordable restaurant (1 person)

    C$ 20

    Three-course meal in a mid-range restaurant

    C$ 80

    McMeal at McDonald's

    C$ 12

    6. Childcare and Schooling

    Finding a good school or kindergarten is very important if you are moving in with your kids. The monthly tuition fees of education institutes also impact the cost of living in Toronto for a family. Toronto has a number of reputed schools that provide quality education to the kids.

    Schools and Childcare

    Approximate Cost

    Preschool, private, full-day for 1 child

    C$ 1,700

    International primary school for 1 child

    C$ 26,000

    Furthermore, the table bellows lists some of the best schools in Toronto –

    Name of School

    Curriculum

    Branksome Hall

    International Baccalaureate

    Walden International School

    International Baccalaureate

    TAIE International Institute

    Canadian, International Baccalaureate

    Keystone International School

    Canadian

    Blyth Academy Downsview Park

    Canadian

    The Giles School

    International Baccalaureate

    Bronte College

    International Baccalaureate, Canadian

    How Expensive Is Toronto Compared to Other Top Cities?

    The cost of living in Toronto is more expensive than 66% of the cities in North America and 82% of cities globally. Furthermore, Toronto is the most expensive city in Canada. Restaurant prices in Toronto are 18.86% more than those in Singapore. Furthermore, the monthly rents for living space in this city are 24.24% higher than those in Tokyo. In contrast, consumer prices in Toronto are 12.37% less than those in London.

    To summarise, the cost of living in Toronto depends on the aforementioned factors. The monthly expenses in this city are pretty higher than most cities worldwide. However, bringing some changes in the standard of living can help you save a lot of money in this Canadian city.

    Frequently Asked Questions

    Is Toronto the most expensive Canadian city?

    Yes, Toronto is the costliest city to live in Canada, followed by Vancouver, Yellowknife, etc.

    Yes, Toronto is the costliest city to live in Canada, followed by Vancouver, Yellowknife, etc.

    Is New York the most expensive city to live in the United States?

    According to a report, New York is the costliest city to live in the United States.

    According to a report, New York is the costliest city to live in the United States.

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    Important Articles about Cost of Living in Different Cities

    Cost of Living in Delhi

    Cost of Living in Bangalore

    Cost of Living in Mumbai

    Cost of Living in Hyderabad

    Cost of Living in Chennai

    Cost of Living in London

    Cost of Living in Kolkata

    Cost of Living in Singapore

    Cost of Living in New York

    Cost of Living in Toronto

    Cost of Living in Berlin

    Cost of Living in Pune

    Cost of Living in Ahmedabad

    Cost of Living in Jaipur

    Cost of Living in Cali

    Cost of Living in Dublin

    Cost of Living in Surat

    Cost of Living in Chandigarh

    Cost of Living in Paris

    Cost of Living in Seattle

    Cost of Living in Tokya

    Cost of Living in Vancouver

    Cost of Living in Amsterdam

    Cost of Living in Bali

    Show more

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    Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.

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    Last updated: 2023-03-23

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