Cost of living in Toronto
Toronto, the bustling metropolis of Canada, is known for its vibrant culture and diverse population. As one of the largest cities in the country, understanding the cost of living here is crucial for both residents and newcomers.
Whether you're planning to move to Toronto or simply curious about its living expenses, this guide provides a detailed breakdown of costs associated with dining, groceries, transportation, housing, and utilities.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $18.35 on average, with a range between $12.89 and $35.8.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $85.93, with prices ranging from $57.29 to $143.22.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.74, with a range between $9.94 and $13.61.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.58 to $8.59, imported beer $5.01 to $9.31, cappuccino $2.15 to $5.73, and Coke/Pepsi $1.58 to $3.22.
Grocery Prices
- Milk - Milk is priced between $1.43 and $4.33 per liter, averaging $3.01.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.79 and $4.3, with an average price of $2.75.
- Eggs (Dozen) - A dozen eggs range from $2.5 to $5.01, averaging $3.34.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.58 to $5.01 per kg, while oranges range from $1.43 to $5.73 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.72 and $3.93 per kg, and lettuce costs $1.43 to $2.86 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.33 and $2.86, with a monthly pass priced between $102.4 and $125.31.
- Fuel (Gasoline) - Gasoline is priced between $1.04 and $1.22 per liter.
- Taxi Fares - Taxi fares start at $2.86, with a cost of $1.25 to $3.58 per km and $18.62 to $42.11 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1575.38 to $2148.25, averaging $1798.19.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1288.95 to $1790.21, averaging $1511.38.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $2506.29 to $3938.46, averaging $3002.12.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2076.64 to $2864.33, averaging $2465.12.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $7707.86 to $13605.59, averaging $9731.32.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $5728.67 to $10763.91, averaging $7794.7.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $71.61 and $214.83, averaging $107.54.
- Internet - Internet services range from $40.46 to $71.61, with an average cost of $51.
Cost of Living Rankings
Toronto ranks 5th on the Cost of Living rankings in Canada. The cost of living indices for Canada are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Canada, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Toronto offers a diverse range of living costs, with dining and housing being significant expenses. While dining out can be costly, grocery prices offer some relief.
Transportation is relatively affordable, especially with public transit options. Housing costs vary significantly between the city centre and the outskirts.
Utilities and internet services are moderately priced, contributing to the overall cost of living in Toronto.
Conclusion
In conclusion, Toronto presents a dynamic cost of living landscape. The city offers a mix of high and moderate expenses, with housing and dining being the most significant.
Prospective residents should consider these factors when planning their budget. Despite the costs, Toronto's vibrant lifestyle and opportunities make it a desirable place to live.