Cost of Living Toronto

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Results Monthly Weekly
Net Income $5,000 $1,154
Expenses $3,269 $754
Savings $1,731 $399

Breakdown of Expenses

Last updated: Toronto, Feb 2024

For a monthly net income of $5,000, our calculator estimates that the cost of living in Toronto for a single individual is around $3,269 per month for accommodation and basic expenses.

* Cost of Living in Toronto (excluding leisure activities, dining out, and childcare)
Yearly Monthly Weekly
Net Income $60,000 $5,000 $1,154
Expenses (65%) $39,228 $3,269 $754
Rent (1-bed) $30,432 $2,536 $585
Utilities $1,920 $160 $37
Groceries $5,160 $430 $99
Transport $1,716 $143 $33
Savings (35%) $20,772 $1,731 $399

To make our calculator easy to use, we've integrated a few assumptions about your personal situation, such as choosing to live close to the city centre and opting for public transportation.

Please note that all figures on this page are expressed in Canadian dollars (CAD).

Accommodation Costs

Our calculator recommends renting a 1-bedroom apartment: $2,536

Although it is generally advised to keep accommodation costs to around a third of your monthly gross income (before tax), this is likely unrealistic in Toronto. The city's rent prices are among the highest in the country, 30% above the national average, and second only to Vancouver.

To keep things practical and allow for some savings, our calculator's suggestions are limited to shared rooms and 1-bedroom apartments. However, you can select your preferred accommodation type in the Advanced Options Advanced Options section and check how it affects your budget.

The table below outlines the average monthly rental rates for apartments in the City of Toronto, excluding the suburbs of Scarborough, Etobicoke, and North York. While rents are generally more affordable in these outer suburbs, this often means facing longer commute times to the city centre.

Source: January 2024 Report |
Apartment Type Average Monthly Rent
3-Bedroom $3,843
2-Bedroom $3,345
1-Bedroom $2,536
Shared Apartment $1,268

Price of Utilities in Toronto

Average monthly utility bill for one person living in a 1-bedroom apartment: $160

In Canada, rental agreements typically cover utilities such as water and heating. However, it's important to verify the specifics before signing the lease.

As such, our calculator accounts for utilities that are commonly not included in the rent price: electricity, Internet, and a phone plan. It also factors in the suggested accommodation type for your budget and whether you are living alone or not.

Expense Average Monthly Cost
Electricity (1-bedroom apartment) 1 × $70
Internet 1 × $50
Phone Plan 1 × $40

Grocery Prices in Toronto

Average monthly grocery bill for one person: $430

The average adult in Toronto spends around $430 monthly on groceries. For couples living together, the cost rises to approximately $699 per month.

It's important to note that these figures can vary widely. The total amount you spend will depend on factors like how often you cook at home, the types of groceries you buy, and your spending habits on daily essentials like toiletries and household items.

Below, you'll find a list of some common grocery items along with the typical prices you can expect to see in Toronto supermarkets.

Item Average Price
Loaf of Bread $3.99
12 Medium Eggs $4.49
1 L (1 qt) of Milk $3.49
1 kg (2.2 lb) of White Rice $3.20
1 kg (2.2 lb) of Local Cheese $14.30
1 kg (2.2 lb) of Whole Chicken $8.44
1 kg (2.2 lb) of Apples $4.40
750 ml (25.3 oz) Bottle of Mid-Range Wine $18.00
500 ml (16.9 oz) Can of Local Beer $2.70

Cost of Transportation

Monthly Toronto public transport cost for one person: $143

The Toronto Transit Commission (TTC) is widely recognized as one of North America's best transportation systems. Its well-organized subways, buses, and streetcars make traversing the city a breeze.

It's no surprise that most of the city's residents opt for public transportation over owning a car, as it is faster and a lot cheaper. The easiest is to get a PRESTO card — a reloadable payment card that lets you pay for individual rides or load up monthly or yearly passes.

When projecting your monthly expenses, our Toronto cost of living calculator factors in the yearly TTC Pass covering the entire city.

Source: TTC Fares and Passes |
Ticket Type Price
PRESTO One-Ride Ticket $3.35
PRESTO Two-Ride Ticket $6.70
PRESTO Day Pass Ticket $13.50
Monthly TTC Pass $156.00
TTC Yearly Pass, 1 Month $143.00

Dining Out & Entertainment

Budget left after basic expenses: $1,731

Toronto's entertainment and dining scene is a vibrant and diverse mix of world-class cuisine, lively arts, and cultural events, reflecting the city's multicultural heritage. From the prestigious Toronto International Film Festival to the tranquility of the many parks dotting the city, there's something for every taste.

Dining out and leisure costs vary widely from person to person, so our calculator doesn't factor in these expenses when estimating the cost of living in Toronto. To get a "taste" of what prices to expect in the city, check the table we've compiled below.

Activity Average Price
Meal in a Mid-Range Restaurant (Excl. Drinks) $30$50
Big Mac Meal at McDonald's $14.49
Local Beer in a Pub $8.50
Cappuccino at Starbucks $5.45
Cinema Ticket $13.99
Monthly Gym Membership $50.00

The information provided on this site is intended for informational purposes only.
Please consult a qualified specialist such as an accountant or tax advisor for any major financial decisions.