Toronto, Canada’s largest city, is known for its diverse culture, world-class amenities, and vibrant job market. However, the cost of living in Toronto can be significantly higher than in other Canadian cities, making it a crucial factor for anyone planning to move or study there.
From housing and transportation to groceries and entertainment, expenses in Toronto can quickly add up. This guide will break down the various costs associated with living in the city, helping you make an informed decision before relocating. Whether you are a student, a young professional, or a family, understanding the cost of living in Toronto is essential for budgeting effectively.
Table of contents
- What is the Cost of Living in Toronto?
- Average Tuition Fees in Toronto
- Housing Costs in Toronto
- Utility Costs in Toronto
- Groceries & Food Costs in Toronto
- Transportation Costs in Toronto
- How Much Money Do You Need to Live Comfortably in Toronto?
- Cost of Living in Toronto Compared to Other Cities
- Factors Affecting the Cost of Living in Toronto
- Tips on Reducing the Cost of Living in Toronto
- FAQs on Cost of Living in Toronto 2025
What is the Cost of Living in Toronto?
According to the Living Cost website, the average monthly cost of living in Toronto for one person is around CAD 3708. Living your dream life in Toronto can be amazing. Imagine enjoying a cup of coffee from a local café, having lunch with friends, and exploring the city on weekends. To make sure you can enjoy it all, it’s important to plan your monthly budget. Here’s a simple look at how much it costs to live in Toronto:
- A single person’s monthly expenses are around CAD 1,516, without rent.
- Rent for shared accommodation is around CAD 700–1,000, and a one-bedroom apartment costs about CAD 2,609.
- Groceries cost approximately CAD 200–300 per month.
- Transportation in Toronto costs about CAD 156 per month.
- Utilities such as electricity and water typically cost CAD 200–300 per month.
Average Tuition Fees in Toronto
Before moving to Canada and studying in Toronto, it’s important to check the tuition fees for the programs and universities you’re interested in. To make it easier, we’ve listed the average tuition fees from Toronto’s universities. Check out the table below for a simple overview.
| Name of the University | QS World Ranking | Average Tuition Fee |
| University of Toronto | #34 | CAD 61,350 |
| York University | #456 | CAD 30,000 |
| Toronto Metropolitan University | #801-1000 | CAD 31,749 – 38,472 |
Housing Costs in Toronto
Living in Toronto as a student can be an exciting experience, but it comes with a higher cost of living in Toronto compared to other cities. One of the biggest expenses is accommodation, and the cost largely depends on your choice of location and living arrangements. If you share an apartment with a roommate, you can expect to pay around CAD 700 to CAD 1,000 a month. If you want to live alone, the price will likely be higher. According to Numbeo, apartments in the city centre are more expensive, while those outside the centre are cheaper. You can find out the approx rent for housing in Toronto, both in the city centre and outside it, check out the table below:
| Details | Price in CAD |
| 1 Bedroom apartment rental (city centre) | CAD 2,495 |
| 3 Bedroom apartment rental (city centre) | CAD 4,429 |
| 1 Bedroom apartment rental (outside the city centre) | CAD 2,152 |
| 3 Bedroom apartment rental (outside the city centre) | CAD 3,634 |
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Utility Costs in Toronto
For a single person, the basic monthly utility costs in Toronto typically range between CAD 200 and 300. This includes essential services such as electricity, water, heating, cooling, and garbage disposal. While utilities are relatively affordable compared to other living expenses, they are still an important factor in the overall cost of living in Toronto. Below is a table showing utility costs in Toronto, especially helpful for immigrant students.
| Details | Approx Cost/Month |
| Electricity, Cooling, Heating, Garbage, Water | CAD 158.22 |
| Internet | CAD 72.22 |
| Mobile Phone Monthly Plan with Calls and 10GB+ Data | CAD 63.11 |
Groceries & Food Costs in Toronto
The cost of food and groceries in Toronto, Canada is between CAD 200 to CAD 300 per month. Although the food in Toronto is delicious, it can be expensive. So you can visit restaurants and cafes in Toronto occasionally, for a treat but cooking a home is a great way to stay within your budget. It won’t affect your budget for the cost of living in Toronto. Check the table below to get an idea of how much groceries might cost.
| Items | Price Range (in CAD) |
| Milk (regular) (1 litre) | 1.85 to 6.00 |
| Loaf of Fresh Bread (500g) | 2.49 to 7.00 |
| Rice (white) (1kg) | 2.20 to 11.69 |
| Eggs (regular) (12) | 3.49 to 7.00 |
| Local Cheese (1kg) | 8.00 to 35.00 |
| Chicken Fillets (1kg) | 8.80 to 28.00 |
| Apples (1kg) | 2.50 to 10.00 |
| Banana (1kg) | 1.25 to 3.28 |
| Oranges (1kg) | 3.00 to 10.12 |
| Tomato (1kg) | 2.18 to 8.82 |
| Potato (1kg) | 1.10 to 6.60 |
| Onion (1kg) | 1.00 to 7.00 |
| Lettuce (1 head) | 2.00 to 5.00 |
| Water (1.5 litre bottle) | 1.28 to 5.00 |
Transportation Costs in Toronto
Transportation in Toronto is quite affordable. Public transport costs about CAD 156 per month. and the good thing is that it comes under the overall cost of living in Toronto. The mode of transportation in Toronto is trains, buses, and cabs. Below, we’ve listed the different transportation options and their fares for your reference.
| Details | Price in CAD |
| Local transportation | CAD 3.35 (one-way ticket) |
| Monthly transportation pass | CAD 156 |
| Taxi Starting Tariff | CAD 5 |
| Taxi Fare for 1 km | CAD 1.75 |
| Taxi 1hour Waiting (Normal Tariff) | CAD 33 |
| Gasoline (1 liter) | CAD 1.59 |
How Much Money Do You Need to Live Comfortably in Toronto?
To live comfortably in Toronto you’ll need around CAD 3,000 to CAD 4,000 per month. This includes rent, utilities, food, transportation, and other expenses. Living in the city centre may be more expensive, but opting for places outside the centre can help save on rent.
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Cost of Living in Toronto Compared to Other Cities
Toronto is often considered one of the more expensive cities to live in, especially when compared to some other cities in Canada. The cost of living in Toronto depends on things like housing, transportation, food, and entertainment. To give you an idea of how the cost of living in Toronto compares to cities like Vancouver, New York, Los Angeles, San Francisco, Chicago, and Calgary, we’ve listed the cost of living (not including rent) in these cities. Please have a look:
| Cost of Living City Wise | Average Cost of living | Comparison with Cost of Living in Toronto |
| Cost of Living In New York | CAD 2257 | Higher than Toronto |
| Cost of Living in Canada | CAD 1,444 | Lower than Toronto |
| Cost of Living in the USA | CAD 1588 | Higher than Toronto |
| Cost of living in San Francisco | CAD 2032 | Higher than Toronto |
| Cost of living in Chicago | CAD 1777 | Higher than Toronto |
Factors Affecting the Cost of Living in Toronto
Several key factors influence the cost of living in Toronto, making it one of the most expensive cities in Canada. Understanding these factors can help residents and newcomers budget more effectively.
- Housing Costs – Rent is the biggest expense in Toronto, with prices varying significantly between downtown and suburban areas.
- Utilities and Internet – Monthly utility bills, including electricity, heating, water, and internet, add to living costs.
- Transportation – Public transit costs, gas prices, and car insurance all impact monthly expenses.
- Groceries and Dining – Food prices in Toronto can be high, especially for fresh produce and dining out.
- Healthcare and Insurance – While basic healthcare is covered in Ontario, additional medical services and private insurance may increase costs.
- Entertainment and Lifestyle – Costs for gyms, events, shopping, and nightlife add up, especially in a vibrant city like Toronto.
- Education Expenses – Tuition fees and student expenses, such as books and supplies, affect the budget for students.
- Taxes and Cost of Goods – Sales tax, income tax, and general consumer prices also contribute to the overall cost of living in Toronto.
Tips on Reducing the Cost of Living in Toronto
Managing the cost of living in Toronto can be challenging, but with the right strategies, you can significantly cut down on expenses. Whether you’re a student, a newcomer, or a professional, making smart financial choices can help you live comfortably without overspending. Here are some practical tips to help you reduce the cost of living in Toronto and make the most of your budget.
- Share an apartment or rent in a suburban area to lower housing costs.
- Use websites like Padmapper or Craigslist to compare rental prices.
- Take advantage of Toronto’s public transit system with buses, streetcars, and subways.
- Buy a Metropass for discounted travel if you use public transit frequently.
- Shop for groceries at cheaper stores like No Frills and FreshCo.
- Avoid eating out too often and try food trucks or lunch specials for cheaper meals.
- Take advantage of free cultural events, parks, museums, and outdoor concerts to enjoy the city without spending much.
Living in Toronto is an exciting experience, but it’s important to plan your finances carefully. By understanding the cost of living and making smart choices, you can enjoy everything the city has to offer without spending too much. Whether you’re here to work, study, or explore, Toronto is a city that’s worth every penny.
We hope you enjoyed reading our blog on the cost of living in Toronto. For a stress-free stay during your study abroad adventure, choose Fly Homes. Call 1800572118 to reserve your ideal student accommodation abroad with ease.
FAQs on Cost of Living in Toronto 2025
the average monthly cost of living in Toronto for one person is around CAD 3708.
Yes, Toronto is one of the most expensive cities in Canada. Housing, especially rent, is a significant portion of the cost of living. Other expenses such as transportation, groceries, and entertainment can also add up.
A salary of CAD 50,000 per year might be sufficient for a modest lifestyle, but it could be tight depending on your personal expenses and lifestyle choices.
On average, a single person would need approximately CAD 3000 to CAD 45000 per month to cover expenses such as rent, utilities, food, transportation, and personal expenses.
The average rent for a one-bedroom apartment in the city centre is around CAD 2,200 to CAD 2,800 per month. Outside the city centre, rent can range from CAD 1,700 to CAD 2,500 for a one-bedroom.
Utilities, including electricity, heating, water, and garbage, typically cost between CAD 150 and CAD 250 per month for a one-bedroom apartment in Toronto. The internet can add an additional CAD 60 to CAD 100 per month.
While Toronto as a whole is expensive, there are more affordable neighborhoods, especially in the outer districts and suburbs, such as Scarborough, Etobicoke, or North York. Rent and general living expenses in these areas can be significantly cheaper than in downtown Toronto.
Grocery costs for one person typically range from CAD 200 to CAD 300 per month, depending on your shopping habits and preferences for organic or speciality foods.
Dining out in Toronto can vary depending on the type of restaurant. A meal at a mid-range restaurant for one person typically costs CAD 15 to CAD 30, while a fast-food meal might cost around CAD 10 to CAD 15.
Additional costs can include parking (if you own a car), entertainment (such as movie tickets or cultural events), and unexpected expenses like medical bills, pet care, or home maintenance. These costs can add up and should be considered when budgeting.
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