Average Cost of Living in Toronto – Essential Insights for 2025

Living in Toronto, Canada’s most populous city and the capital of Ontario comes with its financial implications, which are necessary for both potential and current residents. The average cost of living in Tocts is its status as an international centre of finance, arts, and culture. It necessitates a comprehensive budget that accounts for all aspects of urban life.

From housing and utilities to food, transport, and entertainment, Toronto offers a dynamic range of expenses that can affect your overall cost of living.

Whether you are a single professional, a student, or part of a family setting up a home, you will find that the expenses can vary significantly. For instance, housing is a significant expense, with the average cost for a one-bedroom apartment now at $2,614 monthly. In contrast, other daily expenses like groceries and utilities add up, too.

However, with a median after-tax salary of $3,480, many citizens find that their living conditions affect what the city offers. It’s essential to factor in all these components when calculating your budget to ensure you have a realistic understanding of the cost of living in this vibrant Canadian city.

Average Cost of Living in Toronto – Key Takeaways

• Toronto’s cost of living is high, with significant expenses in housing and daily necessities.
• Residents should budget carefully for utilities, transportation, and groceries as part of their expenses. Despite the costs, the median after-tax income in Toronto generally covers living expenses for most residents.

Жилье и размещение

The cost of housing in Toronto ranks as one of the highest in Canada, affecting affordability for both renters and homeowners. Whether you’re looking to rent a property in the city centre or considering the purchase of a home, it is crucial to factor in the essential costs associated with housing in Toronto.

Rent in Toronto

• Ан apartment in the city centre: Typically approximately $2,000 a month for a one-number Numbeo
• Accommodation outside the centre: Offers slightly more affordable options with decreasing prices.
• Kipling to renting trends: Reflects the high demand for living spaces in and around Toronto.

Utilities and Internet Costs

• Monthly utilities: For an average 85m2 apar, it ranges between C$130 and C$200 and includes heating, electricity, water, and rubbish removal.
• Internet: An essential service, is generally around C$60-C$100 per month depending on the speeds and plan you opt for.

Property Tax and Home Ownership

• Property tax: Varies by neighbourhood and property value but provides essential city services.
• Home insurance and mortgage payments: These are integral parts of owning a home, with mortgage payments influenced by the size of the down payment, interest rates, and loan terms.
• Housing costs and real estate: Reflect both the purchase price and the ongoing expenses associated with home ownership.

You need to consider aspects of housing and accommodation to get a clear picture of the living expenses in Toronto.

Транспорт

You can choose between efficient public transport services or driving your vehicle in Toronto. Each of these options comes with its associated costs and considerations.

Варианты общественного транспорта

Toronto’s public transport network, managed by the Toronto Transit Commission (TTC), offers various options:

• Subways: Spanning the city with four lines.
• Автобусов: Covering extensive routes.
• Трамваи: Serving significant streets in the downtown core.

For regular commuters, purchasing a monthly pass is cost-effective. As of December 2023, the price for an adult pass is approximately C$156.

Car Ownership and Related Expenses

Running a car in Toronto includes several expenses:

• Car Insurance: This can vary, but expect it to be significant due to high rates in Ontario.
• Petrol (Gasoline): Prices fluctuate, but keep an eye on them as they can impact your monthly budget.
• Maintenance: Regular servicing is vital to avoid more considerable expenses.

A popular choice for vehicle owners might be the fuel-efficient Toyota Corolla Sedan или Volkswagen Golf, known for their reliability.

For the occasional trip where driving is preferable, a typical taxi trip in the city might cost between C$15 and C$30, depending on the distance.

Еда и продукты

The cost of food and groceries in Торонто can vary significantly depending on where you shop and dine. Supermarket prices are competitive, but certain items may be costlier due to import charges. When eating out, anticipate a range in prices from inexpensive eateries to higher-end restaurants.

Supermarket Costs

When shopping at local supermarkets:

• Milk (1 litre): Approximately C$2.50
• Loaf of bread (500g): Around C$2.75
• Rice (1kg): Usually close to C$4.00
• Local cheese (1kg): Averages at C$12.00
• Chicken breasts (1kg): Around C$13.00
• Beef round (1kg): Roughly C$14.00
• Apples (1kg): Typically C$4.00
• Bananas (1kg): Approximately C$1.50
• Oranges (1kg): Averages at C$3.00
• Onion (1kg): Usually close to C$2.50
• Lettuce (head): Around C$2.50

Fresh produce and meats can be found at competitive rates, especially at local markets.

Ужинать вне дома

For those opting to dine out, you can expect the following:

• Meal at an inexpensive restaurant: About C$20.00 per person.
• Mid-range restaurant, meal for two people: Roughly C$70.00 for a three-course meal.
• Combo meal at a fast-food restaurant (e.g., Big Mac Meal or similar): Around C$10.00.
• Cappuccino in a casual cafe: Typically C$4.00.

Speciality beers and restaurant-specific dishes will vary in price, but a pint of domestic draught beer generally costs about C$7.00.

Utilities and Everyday Spending

In Toronto, managing your utilities and everyday expenditures requires careful budgeting. Each month, essential services such as electricity, heating, and water form a significant part of your outgoings, while spending on extras, including connectivity and personal items, can also add up.

Communication and Connectivity

• Интернет: Expect to pay around $70 for a standard internet package for work and leisure.
• Mobile Phone: Average monthly plans can be over $50, depending on your data and call needs.

Personal and Miscellaneous Expenses

• Фитнес: A monthly gym membership can vary greatly, but an average budget is around $60.
• Одежда: Retail prices for everyday items might include $60 for jeans or $80 for a summer dress.
• Footwear: A quality pair of leather business shoes can be an investment of approximately $120.
• Health-related: Healthcare in Canada is publicly funded, but you could need extra cover for private services like dental.
• Childcare: For those with young children, preschool costs can range significantly, but the average is around C$1,150 per month.

Remember, you can optimise your spending by seeking discounts, comparing service providers, and monitoring your usage of utilities. Making informed choices allows you to handle your monthly finances with confidence.

Досуг и развлечения

Торонто leisure and entertainment options vary widely, providing residents and visitors various choices to suit their entertainment and cultural interests. Whether planning a night out at the cinema or a sophisticated evening at one of the city’s many theatres, the costs associated with enjoying yourself reflect the diverse range of activities available in this vibrant city.

Культурно-развлекательная деятельность

• Cinemas: A typical movie ticket costs around CAD 15. For those looking to enjoy the latest blockbuster or indie film, numerous cinemas across Toronto offer a range of experiences from standard screenings to immersive IMAX adventures.
• Театр: For live entertainment enthusiasts, the theatre scene in Toronto is rich with options, from Broadway shows to local productions. Theatre ticket prices hover between CAD 50 and CAD 150, depending on the output and seat location.
• Eating Out:
  • Inexpensive Restaurant: A meal at a casual dining spot can set you back approximately CAD 20.
  • Mid-range Restaurant: А three-course meal for two at a more upscale venue average around CAD 90.
• Напитки:
  • А domestic beer (0.5-litre draught) typically costs about CAD 7.
  • Indulging in a cocktail at a pub or lounge will likely cost around CAD 15.
• Fitness Clubs: Maintaining an active lifestyle in Toronto can be achieved through various fitness clubs across the city, with average prices reflecting the quality and location of the facility.
• Local Cheese: For those who enjoy culinary experiences, Toronto’s markets offer a variety of local cheeses to enhance any dining experience or personal entertainment. Prices will vary based on the selection and producer.

With its multicultural atmosphere, Toronto presents a world of experiences for your leisure and entertainment purposes. Whether you prefer a night in with a selection of fine cheeses or an evening out exploring the city’s vibrant nightlife, you can tailor your downtime to your specific interests and budget.