Quick Answer: How much does it cost to live in Toronto per month?

Summary about cost of living in Toronto, Canada: Family of four estimated monthly costs are 3,498$ (4,422C$) without rent. A single person estimated monthly costs are 967$ (1,223C$) without rent. Toronto is 26.59% less expensive than New York (without rent).

What salary do you need to live in Toronto?

According to the Ontario Living Wage Network (OLWN), people residing in Toronto need to make $22.08 per hour, which is the most in Ontario, to afford the basics.

How much does it cost to live in Toronto for a month?

Cost of Living Across Canada

City Total Cost of Living Monthly Housing Costs 2 Bedroom Apartment (Rent + Utilities)
Toronto $5,523 $2,745
Ottawa $4255 $1818
London $3990 $1508
Montreal $2627 $1136

Is it expensive to live in Toronto?

Living in Toronto, particularly anywhere near downtown, can be expensive. Rents are among the highest in Canada, and other standard monthly expenses such as phone plans, groceries, and transit are not cheap either. Fortunately, wages in Toronto are also quite good across the spectrum. …

Is living in Toronto worth it?

Overall, the quality of life in Toronto is good – especially if you love winter sports. Getting around Toronto is a breeze and although many locals bemoan the public transit system (the TTC) it’s never really hard to get somewhere within the downtown core or city by public transit.

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Is 170k a good household income?

According to the U.S. Census Bureau, about half of all U.S. households earn $65,700 or more per year. … In others, a minimum household income of over $170,000 is required to rank among the highest earners.

Is Toronto Affordable?

In fact, compared to cities all across North America, Toronto is exceptionally unaffordable. … The latest North American housing affordability report form Oxford Economics found that Toronto is the third-least affordable city on the entire continent.

How can I live cheap in Toronto?

How to Live on a Tight Budget in Toronto

  1. Avoid overpriced food chains. Toronto is a culturally diverse city. …
  2. Get thrifty. Shopping in the thrift stores should not scare you. …
  3. Have a budget and stick to it. …
  4. Take care of your own hair. …
  5. Keep an eye on free gallery openings. …
  6. Apartments near York University.

What is the cost of living in Toronto 2021?

Summary about cost of living in Toronto, Canada: Family of four estimated monthly costs are 3,498$ (4,422C$) without rent. A single person estimated monthly costs are 967$ (1,223C$) without rent. Toronto is 26.59% less expensive than New York (without rent).

Is Toronto more expensive than London?

Cost of living in London (United Kingdom) is 37% more expensive than in Toronto (Canada)

How much is minimum wage in Toronto?

Minimum wage in Ontario is currently $14.35 per hour. In October 2020, the provincial minimum wage increased from $14 per hour to $14.25 per hour. Before that, the minimum wage had not increased in Ontario since January 2018, when it went up from $11.60 per hour to $14 per hour.

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How much is water bill a month Toronto?

The average monthly cost of a utility bill in Toronto is $471.00.

Average Monthly Utility Bill Cost in Toronto.

Utility Average Monthly Cost
Water $80.00
Gas $130.00
Internet Fiber $55.00
Cable $32.00