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The Average Cost of Living In Canada
Canada is a beautiful country with a high quality of life, making it an attractive place for people to live in.
Moving there means understanding the average monthly costs based on the area and lifestyle to determine your best move because it can still get expensive depending on the region.
The cost of living in Canada ranked as the 25th highest in the world. The average cost of living here is $4,496.60 for a family of four and $1,262.70 for a single person.
Those figures are 11% higher than in the US, with $5020.01 (family of four) and $1,418.88 (single person).
The current issue with rising inflation means higher prices in Canada. If you plan on moving here, you need to understand the average costs and income to better grasp your monthly budget.
We’ll discuss the cost of living in major cities in Canada. So, stick around!
The Cost of Living in Canada
Canada is known for many things. It brings many opportunities, has a high quality of life, and is a multicultural country. These qualities make it appealing to immigrants, which is why many choose to leave their homes and build a new life here.
Even the locals see the many possibilities the country can bring to their lives. Many choose to move to Canada’s most popular cities, like Toronto, Ottawa, and Vancouver.
But moving without thought can be risky for your savings (believe us, we’ve been there!). So it’s important to understand the average costs in these cities, especially with the rising prices and inflation!
| City | Average Minimum Wage per hour | Monthly Cost – Single Person | Monthly Cost – Family of Four | Average Rent – 1- bedroom in City Centre |
| Toronto | $15.50 | $1,412.50 | $5,100.30 | $2,439.04 |
| Vancouver | $15.65 | $1,324.90 | $4,825.10 | $2,491.02 |
| Calgary | $15.00 | $1,424.00 | $4,987.80 | $1,559.57 |
| Ottawa | $15.50 | $1,331.20 | $4,767.70 | $1,767.67 |
| Montreal | $15.25 | $1,187.40 | $5,100.30 | $1,433.93 |
| Winnipeg | $15.00 | $1,240.70 | $4,383.80 | $1,132.50 |
Despite a relatively higher average minimum wage ($15.50) than other countries, the continuously increasing prices of rent, food, housing, and gas are concerning.
It’s essential to compare your monthly income and what you must pay on a regular basis without compromising your savings. Of course, this will depend on your lifestyle and the city you decide to move to.
Some are expensive, while some are not so much.
The Cost of Living in Toronto
| Category | Single Person | Family of Four |
| Monthly Costs | $1,412.50 | $5,100.30 |
| Childcare (private kindergarten) | — | $3,000 |
*includes food, activities, and transportation
| Housing Type | Average Cost |
| Detached Home | $1,439,735 |
| 1 bedroom in City Centre | $2,439.04 |
| 1 bedroom Outside City Centre | $2,060.18 |
| 3 bedrooms in City Centre | $3,883.30 |
| 3 bedrooms Outside City Centre | $3,168.52 |
Home cost is average sold price, while apartments are average monthly rent prices
| Average Salary in Toronto | |
| Average Hourly Minimum Wage | $15.50 |
| Average Yearly Income | $37,000 to $120,500 |
Lowest yearly income is for entry-level workers, while the highest is for most-experienced workers. Salary will depend on the job type and sector.
Living in Toronto means using most of your monthly income on housing. Every Canadian knows that it’s expensive to live here, just like how expensive New York is for Americans.
One of the main factors in a monthly budget is housing. Without the money to pay for rent means no roof over your head. Despite Canada’s stable economic growth, it was no stranger to the effects of the pandemic.
Many locals have complained about the rent prices in Canada (it’s even getting traction on social media). Some had to move out from their apartments because their landlords had increased the rent prices by about 10% to 15%.
The average rent cost used to be around $1,700 to $1,900 for a one-bedroom apartment. But now, we’re seeing prices of $2,000 or more. That’s not even a room with a lot of space!
CBC News reported that you need to earn a yearly income of $100,000 to afford a $2,500 monthly rent. It’s definitely going to hit many people, especially the middle class, because Toronto’s average salary is around $70,000 to $90,000 a year!
Aside from housing, you need to worry about the expensive monthly utilities, transportation, and food. According to Numbeo, a single person spends $1,412.50 monthly, while a family of four pays $5,100.30 plus around $3,000 for childcare.
Don’t forget the jaw-dropping home prices for families looking to find a permanent home. A detached home in Toronto costs an average of $1,439,735, while a semi-detached home is about $1,069,266.
With those prices, homebuyers will need to earn more to add the monthly payment for their forever homes in an already expensive city.
Toronto is definitely an exciting city providing many possibilities. It’s a business and financial hub that offers many employment opportunities. But the high cost of living is something worth looking into because it doesn’t seem to be decreasing anytime soon.
How much does it cost to live in Toronto per month?
Living in Toronto as a single person means having about $4,000 per month for utilities and rent. Meanwhile, a family of four will need about $11,000, and that already includes utilities, childcare, and apartment rent.
Toronto’s average monthly cost of living is about 13% to 20% higher than the average Canadian rate.
It’s expensive to live in Toronto, considering it’s one of the most expensive cities in Canada. Apart from the increasing food prices, housing is almost becoming exclusive in the city.
The Cost of Living in Vancouver
| Category | Single Person | Family of Four |
| Monthly Costs* | $1,324.90 | $4,825.10 |
| Childcare (private kindergarten) | — | $2,600 |
*includes food, activities, and transportation
| Housing Type | Average Cost |
| Detached Home | $1,813,100 |
| 1 bedroom in City Centre | $2,491.02 |
| 1 bedroom Outside City Centre | $2,131.91 |
| 3 bedrooms in City Centre | $4,518.89 |
| 3 bedrooms Outside City Centre | $3,323.22 |
Home cost is average sold price, while apartments are average monthly rent prices
| Average Salary in Vancouver | |
| Average Hourly Minimum Wage | $15.65 |
| Average Yearly Income | $51,900 – $99,200 |
Lowest yearly income is for entry-level workers, while the highest is for most-experienced workers. Salary will depend on the job type and sector
Vancouver is another expensive place to live in Canada. Although it is slightly cheaper than Toronto, it doesn’t mean families are not having a hard time getting by.
Locals are feeling the effects of rising costs and inflation. And despite British Columbia’s increase in the minimum wage, the added 17.35% just isn’t cutting it.
CBC News reported that for a family of four to live comfortably in Metro Vancouver, both parents need to work and earn an hourly rate of $24.02. Single-income families are having difficulty due to rising costs on top of living in an already expensive city.
A family of four spends $4,825.10 on monthly utilities, according to Numbeo’s gathered data. Meanwhile, a single person needs $1,324.90 every month (not including healthcare and rent).
Compared to Toronto, Vancouver is 2.2% lower in consumer prices. But rent costs are higher by 7.7%.
Moreover, middle-class income families are adjusting their lifestyles to get by. And lower-income families need to work harder to get a roof over their heads.
The rising interest rates are taking a toll on potential homeowners as well. The price for a detached home in Vancouver is $1,813,100, that’s 22% higher than in Toronto! Consequently, rent is on the rise as well.
In fact, the Real Estate Board of Greater Vancouver reported that home sales in the city in February 2023 are down 47.2% compared to last year’s activity. And that’s because not many families are able to afford the current house prices.
It doesn’t only alienate potential homebuyers but renters, too. Spending over $2,000 a month on rent will take too much out of your salary.
Vancouver is an expensive city to live in, and in most cases, it’s even pricier than Toronto. The increasing prices are making families adjust their budgets and lifestyle to afford basic needs.
How much does it cost to live in Vancouver per month?
Like Toronto, Vancouver is one of the most expensive cities in Canada. In some aspects, it’s pricier than Ontario’s capital city.
A single person needs about $3,800 to $4,000 monthly to live in Vancouver. That’s just a 5% difference (in some cases, no difference at all) from Toronto ($4,000).
Meanwhile, a family of four needs around $11,400 for childcare, utilities, and rent. Housing is expensive in Vancouver, which is why many families are struggling to purchase their forever homes.
The Cost of Living in Calgary
| Category | Single Person | Family of Four |
| Monthly Costs* | $1,424.00 | $4,987.80 |
| Childcare (private kindergarten) | — | $2,200 |
*includes food, activities, and transportation
| Housing Type | Average Cost |
| Detached Home | $679,479 |
| 1 bedroom in City Centre | $1,559.57 |
| 1 bedroom Outside City Centre | $1,294.10 |
| 3 bedrooms in City Centre | $2,782.21 |
| 3 bedrooms Outside City Centre | $2,173.17 |
Home cost is average sold price, while apartments are average monthly rent prices
| Average Salary in Calgary | |
| Average Hourly Minimum Wage | $15.00 |
| Average Yearly Income | $60,000 – $120,000 |
Lowest yearly income is for entry-level workers, while the highest is for most-experienced workers. Salary will depend on the job type and sector
The Albertan city of Calgary is forecasted to show positive economic growth in 2023. In fact, it has a booming economy due to the energy and agricultural sectors.
Due to the low taxes, Alberta is already known as one of the most affordable provinces. And living in Calgary means a lower cost of living than in cities in Ontario or British Columbia.
Furthermore, grocery prices in the city are 1.1% and 5.8% lower than in Toronto and Vancouver, respectively. Add to that the generally high income in Alberta, and many families can put more money into savings and retirement.
Additionally, Calgary (and Edmonton) residents earn $10,000 more than the average Canadian household.
But the high income doesn’t mean that Calgarians are not feeling the effects of the pandemic. Although food prices in Calgary are cheap, it still increased.
On the plus side for the residents of the prairie region, it’s not as much compared to other metropolitan cities in the country (thanks Alberta’s low taxes!).
Adding mortgage fees to your monthly expenses won’t be too expensive because Calgary has more affordable housing costs. A detached home is $679,479 compared to Vancouver’s $1,813,100, which is a whopping 90% difference!
Even monthly rent prices are almost double compared to Vancouver and Toronto. Calgary’s is cheaper, with around a 45% difference than the other two cities.
It is known as one of the cheapest cities due to it being a part of Alberta. Its positive economic growth is good news for companies and local businesses (and employees, of course!)
Living in Calgary also means getting the opportunity to save money while having the freedom of paying for leisurely activities.
How much does it cost to live in Calgary per month?
Calgary is an affordable city to live in. A family with four young children only has to spend an average amount of $9,700 to live comfortably.
A single person only needs about $3,000, which is 28% cheaper than living in Toronto. With Alberta’s low taxes and high median income, residents can save more money to put into their retirement.
The Cost of Living in Ottawa
| Category | Single Person | Family of Four |
| Monthly Costs* | $1,331.20 | $4,767.70 |
| Childcare (private kindergarten) | — | $2,900 |
*includes food, activities, and transportation
| Housing Type | Average Cost |
| Detached Home | $676,272 |
| 1 bedroom in City Centre | $1,767.67 |
| 1 bedroom Outside City Centre | $1,462.71 |
| 3 bedrooms in City Centre | $2,890.53 |
| 3 bedrooms Outside City Centre | $2,277.62 |
Home cost is average sold price, while apartments are average monthly rent prices
| Average Salary in Ottawa | |
| Average Hourly Minimum Wage | $15.50 |
| Average Yearly Income | $40,000 – $130,000 |
Lowest yearly income is for entry-level workers, while the highest is for most-experienced workers. Salary will depend on the job type and sector
Ottawa is known for its beautiful historical landmarks. It’s what attracts people from all over the world to the capital city.
Despite being the country’s capital and fourth-largest city, living here is relatively affordable. And it’s not as noisy as Toronto, making it an attractive place for families.
In the historic city, a single person spends only an average of $1,331.20. It’s pretty impressive for Canadians because it’s lower than Calgary by 6%.
Additionally, a one-bedroom apartment in the city centre is only $1,767.67, which is about 12% higher than Calgary’s ($1767.67).
Despite the rising interest rates in Canada, Ottawa remains to have one of the country’s most affordable real estate markets.
In contrast, a one-bedroom apartment outside the city centre will only cost $1,294.12, 18% lower than the downtown core. That’s affordable, especially compared to Toronto’s incredibly high prices.
But living in Ottawa will most likely mean needing a car, especially if you live in a rural area. Even so, the affordable cost of living here means you don’t need to worry too much about your monthly budget.
Moving to Ottawa is great for families because of the affordable cost of living. You can even live outside the downtown core for even cheaper housing options.
Just make sure to speak English and French because many companies require those two languages, especially government jobs.
How much does it cost to live in Ottawa per month?
One of the most beautiful things about Ottawa (apart from being a beautiful city) is the affordable cost of living. A single person only has to shell out $3,000 to $3,500 every month on utilities and rent.
In contrast, a family with two kids needs about $10,000 to $11,000 because childcare can be slightly expensive. Still, that’s lower than Toronto’s by about 10%.
The Cost of Living in Montreal
| Category | Single Person | Family of Four |
| Monthly Costs* | $1,187.40 | $5,100.30 |
| Childcare (private kindergarten) | — | $1,800 |
*includes food, activities, and transportation
| Housing Type | Average Cost |
| Detached Home | $500,000 |
| 1 bedroom in City Centre | $1,433.93 |
| 1 bedroom Outside City Centre | $1,102.29 |
| 3 bedrooms in City Centre | $2,530.72 |
| 3 bedrooms Outside City Centre | $1,868.60 |
Home cost is average sold price, while apartments are average monthly rent prices
| Average Salary in Montreal | |
| Average Hourly Minimum Wage | $15.25 |
| Average Yearly Income | $52,000 – $130,000 |
Lowest yearly income is for entry-level workers, while the highest is for most-experienced workers. Salary will depend on the job type and sector
Montreal is the second largest city in Canada. Even so, it’s an affordable place to live in.
The cost of living in Montreal for a family of four is only $4,342.70, which is more affordable than the other large cities, Toronto and Vancouver. In fact, most aspects in Montreal are cheaper than the other two.
That includes rent prices. Residents only spend an average cost of $1,433.93 for a one-bedroom apartment in the city centre. That’s not even close to $2,000, which is slowly becoming the average rate in Toronto.
In addition, it’s a great place for families who want to put down roots. A single detached family home is only $500,000, according to WOWA. That’s three times lower than the average cost in Toronto!
The resilient economy of Montreal is good news for its residents. It attracts businesses, which helps its economy move in a better direction.
As a result, a single person can comfortably live in the city. The monthly cost without rent is only $1,187.40, which is lower than Toronto’s by 17%.
For a big metropolitan area, Montreal is surprisingly affordable. Affordable housing makes it an attractive place for single persons, especially those who just graduated and need a cheap place to live.
Food prices are affordable, too. It’s 5.2% lower than in Toronto, according to Numbeo. Just remember to brush up on your French because you’ll see it everywhere in Quebec.
How much does it cost to live in Montreal per month?
Living in Montreal means speaking French while still having extra money to eat a croissant at a coffee shop. A single person living here only needs a humble amount of $2,700 for monthly costs and rent (that’s 10% lower than in Calgary!).
Even families with two children can save for a permanent home because they only need about $10,000 to $11,000, depending on the type of apartment they’re currently renting.
The Cost of Living in Winnipeg
| Category | Single Person | Family of Four |
| Monthly Costs* | $1,240.70 | $4,383.80 |
| Childcare (private kindergarten) | — | $1,400 |
*includes food, activities, and transportation
| Housing Type | Average Cost |
| Detached Home | $367,977 |
| 1 bedroom in City Centre | $1,132.50 |
| 1 bedroom Outside City Centre | $1,175.92 |
| 3 bedrooms in City Centre | $1,907.25 |
| 3 bedrooms Outside City Centre | $1,780.26 |
Home cost is average sold price, while apartments are average monthly rent prices
| Average Salary in Winnipeg | |
| Average Hourly Minimum Wage | $15.00 |
| Average Yearly Income | $50,000 – $90,000 |
Lowest yearly income is for entry-level workers, while the highest is for most-experienced workers. Salary will depend on the job type and sector
One of the most affordable cities in Canada is located in Manitoba. The city of Winnipeg is known for its affordability in utilities and food, making it appealing to the young generation.
Compared to another affordable city, Calgary, most aspects of living in Winnipeg have lower costs. For instance, the latter is cheaper when it comes to consumer prices, groceries, restaurants, and rent.
A single person in Winnipeg only spends about $1,240.70 monthly without rent. And renting a one-bedroom apartment in the city centre is only $1,132.50. With that price, even Calgary is 31% pricier.
How does Winnipeg maintain affordability in the midst of inflation and rising costs? It’s the city’s competitive tax rates and robust workforce that help keep its economy strong.
Like British Columbia, it has a 12% sales tax rate compared to Ontario’s 13% and Nova Scotia’s 15%. Although it’s not even close to Alberta’s 5% tax rate, it’s still relatively cheaper than other cities in the country.
Even housing is affordable in Winnipeg. One person can find a one-bedroom apartment for only $1,559.57 a month. You can even rent a three-bedroom apartment for less than $2,000!
What’s even more affordable is the average price for a detached home. Adding the monthly payment for your home won’t put a dent on your savings.
A single detached is only $367,977, giving families the ability to purchase a permanent home. If you compare that price to Toronto ($1,439,735), it’s 118% higher!
Winnipeg is a very attractive place for families and single people. It’s even more affordable in Calgary. It also offers many leisurely activities that you can afford because you won’t have to spend too much money on rent and food.
How much does it cost to live in Winnipeg per month?
Winnipeg is one of the most affordable cities for families. You only need to save around $7,700 to $8,000 monthly if you have a family of four. That’s about 36% cheaper than Toronto and 38% lower than Vancouver.
The affordable rent makes it an attractive place for single people, too. It’s even cheaper than Calgary by 15% to 20%. You only need about $2,440 to $3,000, even if you plan to live in the downtown core.
