Cost of Living in Toronto: Rent, Housing & Income

Toronto is Canada's largest city and its main financial and business hub, and its housing market is the reason most people ask about the price of living there. The estimates here cover the city itself and its everyday spending, from rent to groceries to a monthly transit pass.

Figures come from Livingcost, a crowd-sourced estimate that the site updates on its own pages, last checked Oct 13, 2026. They are converted to US dollars, so the exchange rate with the Canadian dollar can shift them.

Excluding rent, one person is estimated at $985/mo. With rent, the estimate is $2,415/mo. The difference is the cost of a roof, and in Toronto it is the largest line in a monthly budget by a wide margin.

A lunch menu averages $17.30 each, a liter of milk averages $2.77 each, and a dozen eggs average $3.50 each. Restaurant prices vary a lot between neighborhoods, so downtown and tourist areas will run higher than residential districts.

A one-bedroom in the center averages $1,469/mo, and a cheaper one-bedroom averages $1,255/mo. The two are close compared with many cities, which suggests the whole market is expensive instead of just the core. Larger units show a wider spread, with a three-bedroom in the center averaging $2,469/mo against $1,987/mo for a cheaper one.

Many renters in Toronto share apartments or look in surrounding suburbs and take the commute. If you do, price the commute into your budget. Tenant rules in Ontario cover deposits, notice, and rent increases, so read the lease with those rules in mind and ask the landlord to confirm what utilities are included.

A monthly local transport ticket averages $111/mo. Many commuters rely on the subway, streetcars, and buses, and if you work in the core a pass may spare you the cost of a car. Utilities for one person average $84.40/mo and internet averages $47.90/mo.

Heating matters in winter. Ask whether heat and water are part of the rent, because the answer can change a unit's true cost.

The table collects the lunch, milk and egg prices quoted above in one place. Three items are a small sample, so read them as a rough guide to the price level.

The average monthly salary after tax is $3,517/mo, higher than the single-person budget with rent. A single worker earning near that average can cover the estimate, but the margin shrinks quickly for households with a child, a car, or student debt.

A family of four is estimated at $5,363/mo with rent and $3,104/mo without. Childcare is a major cost that is not itemized here, and the price of a family-sized home affects the total more than anything else.

Toronto sits at the high end of Canadian cities, mostly because of housing. If you are weighing a move, look at the rent rows first, then compare them with your current rent and income.

• Health coverage if you are not yet eligible for the provincial plan
• Immigration, work permit, or study permit fees
• Tuition and school costs
• Furnishing a first apartment
• Winter clothing
• Flights home and visits to family

Immigration and tax rules change and depend on your status. Use Canada's official government sites or a licensed advisor for current guidance.

Toronto is a collection of districts with their own character. Areas near the downtown core put you within walking distance of offices and restaurants, and you pay for that convenience in rent. Neighborhoods along subway lines farther out often give you more space for the money and an easy ride to work. Suburbs beyond the city limits can cost less again, but the commute can eat into the savings in both time and fares.

When you tour a unit, ask what the lease includes, how the building handles laundry, and whether parking is a separate charge. Many landlords expect proof of employment or a reference, so newcomers should gather documents before they start viewing apartments.

The World Bank's price level ratio for Canada was 83.4 in 2025, with the U.S. at 100. At market exchange rates, the same basket of goods and services cost about 83% of its U.S. price.

GDP per capita, adjusted for purchasing power, was 66,746 international dollars in 2025 (U.S.: 90,027 international dollars in 2025). Consumer prices rose 2.1% in 2025 (U.S.: 2.9% in 2024).

These are country-level figures for Canada, not for Toronto alone.