Can You Make It in The Six? Here’s All You Should Know About Toronto Cost of Living

Once you’ve decided to move to Canada, you should explore what city will be the most convenient to your needs and most suitable in terms of expenses. For this reason, we decided to present you in detail with a Toronto cost of the living guide and all the great perspectives this city has to offer.

Toronto, the Largest City in Canada

With its population of over 3 million citizens, Toronto is the largest city in CA and Ontario’s provincial capital. It is the fourth largest city in North America, after Mexico City, New York, and Los Angeles. Its geographical position enables its citizens to reach the US borders at Buffalo in less than two hours, which makes it even more desirable for US citizens who are up to the relocation.

Besides the geographical position, TO is recognized internationally as a business, finance, arts, and cultural center of CA, giving great growth opportunities in all fields. TO is one of the most multicultural cities in the world. It is said that half of Toronto’s population is born outside of CA, so for all those who seek a metropolitan atmosphere, this could be the right choice.

And when it comes to the question of quality of life, TO is considered one of the most livable cities globally and one of the best places to live in Ontario, enjoying the reputation as a diverse, clean, and safe metropolis to relocate to.

Housing and Utility Costs On Monthly Basis

TO is undoubtedly the most expensive city to live in CA. So, when moving to Toronto, you should definitely consider the average expense of living here and whether your budget can sustain it.

According to specialized website Numbeo, the average monthly rent for a one-bedroom apartment in the broader center may amount to approximately 1,600 USD (about C$2,000, at the conversion rate of 0.8 USD for 1 C$.) For the same apartment size, similarly equipped, but further from the center, the price is 1,380 USD (C$1,700.)

If you’re thinking about buying a house in TO when moving abroad, be ready for high prices. The average price per square foot in the downtown of TO amounts to around $860. So, if you’re about to buy a home, make sure to explore all Toronto neighborhoods thoroughly and choose a nice detached house that provides enhanced privacy and mild winters as well. Of course, all these prices exclude the utility bills, which we will go through in a sec.

What Are the Most Expensive and Most Affordable Neighborhoods to Live in the Six?

The most expensive parts of the metropolis to live in are situated near the downtown. Bay, Bloor-Yonge, Rosedale, Summerhill, and nearby neighborhoods are usually overpriced since their great position within the Six. Moreover, those areas are considered the most exclusive parts of the metropolis.

If you seek more affordable rent prices in safe areas, you should focus on the parts near Coxwell, Woodbine, Victoria Park, and Main Street subway stations. The accommodation in these areas can be 30% cheaper than in the areas mentioned above, so make sure to check all the conditions thoroughly before determining where to live.

Utility Expenses

Compared to other Canadian cities, utility expenses are slightly higher. We will show how much some basic utilities may cost for a 915 sq ft apartment:

  • Combined expenses for electricity, heating, water, and garbage, amount to $140,
  • Internet at 60 Mbps or more, be it cable or ADSL, averagely costs around $60,
  • Mobile phone bills averagely cost around $101 per household. However, this rate can vary, depending on the user’s habits.

The Cost of Moving Around the Six

With 3 million citizens in the narrow area of TO and 6.5 million citizens in the Greater TO Area, transportation has a great role in everyday life. And especially so for those who live in the suburbs.

The transportation network is spread all over the metropolis, connecting it further to a Golden Horseshoe (western end of Lake Ontario, Lake Erie, Lake Scugog, and Simcoe), and further 9.2 million people. And there are multiple means of public transportation to choose among. The Toronto Transit Commission is a major transport provider, enabling the citizens to use the subway, buses, streetcar lines, and ferries. And here is the breakdown of your most convenient options for paying for transportation in the Six:

  • TTC Pass – For this type of pass, adults pay $156, while people older than 65 and children from 13 to 19 years pay $128.
  • Downtown Express Pass – Here adults pay $ 202, and seniors and youth pay $174.

Of course, if public transportation is not your first choice and you still prefer driving, you should know the gasoline costs, which are around $3.5 per gallon, according to Numbeo. And the total monthly costs, in this case, depend on the type of car you have and the mileage you pass every month.

We Can’t Go Without Groceries

TO is certainly not the cheapest place to live in Canada, and that can be seen on the average monthly expenses for groceries. The average Torontonian spends around $285 on grocery shopping each month. These expenses are even higher if we include the dining out and ordering the food, reaching a total amount of $535.

However, although the expenses are pretty high, there are always ways to make it more affordable. And if you want to get an ultimate guide on the cost of living in Toronto, Canada, and grocery pricing, and how you can save when buying them, then check the video below.

Raising a Child in TO – How Much You’ll Spend

Moving overseas usually means that you will not be able to count on support from your family members regarding childcare, especially if the children are infants or preschool age. Meaning, you will definitely need to put it in your budget. According to the Canadian Centre for Policy report, infant child care in TO on a yearly basis reaches an amount of $21,288, while a pre-school child requires spending about $14.500 annually.


The Six Offers Top-Notch Public Schools

For people who are moving internationally with children, expenses of education and childcare will be a significant factor in making the decision to move out of the States.

CA has a program for expat children that implies free education within the public school system. Also, if children are not fluent in English or French, there is special support provided for them, all for free, which is one of the best methods for learning a language abroad. Although this might not be the most comfortable way for them to learn the language, it will definitely be the best way to overcome the language barriers. So, in case you decide on this option, you shouldn’t add that to the list of expenses when living in Toronto, CA.

The public education system in CA has high standards, so the quality of education is guaranteed. Yet, in case you would like to enroll the children in some of the private schools, you should definitely have in mind that the prices are pretty high. On an annual basis, the private education system’s costs range from $13,550 to $60,000.

Unlike Back Home, Healthcare is Mostly Free

For all expats with legal status or Canadian citizenship, the public healthcare system covers the essential hospital care and physician services. This plan excludes dental services, medications, long-term care, vision care, and ambulance services that can be agreed with private medical insurance. However, there is always the possibility to agree to some of the supplemental insurance plans that employers usually pay.

Still, you should have in mind that healthcare is covered only for Canadian citizens or holders of international working visas. In case you are a student, then you should add $58 to your monthly cost of living in Canada. Before moving to Ontario, make sure to check all the regulations on how to immigrate to Canada and be fully protected in the medical aspect.

Salaries that Cover the Toronto Cost of Living – What You Can Expect to Earn

According to the LowestRates report, a person has to earn a yearly salary of $40,580 to meet the expenses of the metropolis.

Still, the Six is the largest city in the country, so the job market offers some of the highest-paid jobs in Canada that could provide you with career progression and your well-being. For that reason, you should consider what position you will apply for, and don’t hesitate to list all the important relocation questions to ask the employer. Moreover, keep in mind that finding a job in CA is much easier than getting a job in Europe as an American, which is another benefit CA provides. Let’s see what are the average wages for the best-paid positions in TO, according to website Payscale:

  • Executive Assistant – C$59,000 (USD $48,000)
  • Marketing Manager – C$69,000 (USD $56,000)
  • Software Developer – C$71,000 (USD $57,700)
  • Operations manager – C$72,000 (USD $58,500)
  • Project Manager – C$77,000 (USD $62,600)
  • Software Engineer – C$80,000 (USD $65,000)

Of course, besides this information, it would also be a great idea to explore what companies provide the best conditions for employees. As PayScale suggests, some of the most popular companies in TO are the Canadian Imperial Bank of Commerce, RBC bank, Deloitte, TD Canada, and Scotiabank.

The Factors that Influence Expenses of an International Moving

Once you decide to move to one of the best countries to live in, it is time to start organizing your relocation process. The first step is to find an international moving company and explore what overseas shipping services it can provide to you.

Since this is an exhausting process, it will be necessary to start organizing your relocation a few months in advance in order to avoid any moving stress. In this relocation timeline, you should definitely include the time needed for shipping overseas because you don’t want to get into the apartment or house before your belongings are at home.

The final cost of international relocation will depend on the type of services you choose. The important thing you should definitely discuss with the overseas shipping company is the method of international moving and do they provide the possibility of tracking your shipment. And of course, you will need to plan your budget upon the data your overseas moving company provides you. So, don’t forget to include the packing services and all other support you’ll need in this process in calculations.

Still Not Sure Why the Six Is the Best Option?

Considering the fact that CA is one of the friendliest countries in the world that provides its citizens with great conditions, quality of life, and perspectives, it is easy to conclude why it is one of the most popular destinations for moving abroad.

And when it comes to TO, it is easy to conclude why it has precedence over other Canadian cities. Not only that it has a very beneficial geographical position in North America, and that is considered as the financial and business center of CA, with a rich job market, TO is considered as one of the safest cities to live in and one of the best places to live in Canada. Since it has a high safety standard, great education opportunities and health system, it is logical why it represents one of the best places to live abroad with family. Moreover, there are great expat communities that will help you and your family to fit in. Through their experience, you will learn how to live in another country and overcome all the possible problems much easier and with your new friends’ support.