Cost of Living in Toronto

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Monthly Weekly
Rent (1-bed) $2,536 $585
Utilities $160 $37
Groceries $430 $99
Transportation $143 $33
Net Income $5,000 $1,154
Expenses $3,269 $754
Savings $1,731 $399

Last updated: Toronto, Feb 2024

With a monthly net income (after tax) of $5,000, our Toronto cost of living calculator estimates that a single individual will spend around $3,269 per month on accommodation and basic expenses.

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. It also excludes the cost of leisure activities and entertainment, since that depends on your individual preferences.

Below, you will find a detailed breakdown of all expenses by category. Please note that all figures on this page are expressed in Canadian dollars (CAD).

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 Rentals.ca Report | rentals.ca
Apartment Type Average Monthly Rent
3-Bedroom $3,843
2-Bedroom $3,345
1-Bedroom $2,536
Shared Apartment $1,268

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

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

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 residents in Toronto 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 computing monthly expenses, our cost of living calculator factors in the cost of a yearly TTC Pass covering the entire city.

Source: TTC Fares and Passes | ttc.ca
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

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.

Since our cost of living calculator focuses on essential expenses, it doesn't include dining out and leisure costs, as they vary widely based on personal preferences. To get a taste (pun intended) of what prices to expect in Toronto, 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.