Cost of Living in Peterborough: Updated Prices, Comparison with Other Cities

Peterborough is an inviting city for students considering higher education due to its vibrant community, scenic beauty, and comparatively lower cost of living. As you prepare to embark on your academic journey, it’s essential to understand the various expenses you’ll encounter. But what is the cost of living in Peterborough?

Many students are moving to Peterborough, Canada, for higher education due to its combination of affordable living, quality academic institutions, and a vibrant, enjoyable community. This detailed guide delves into the cost of living in Peterborough, offering essential insights to help you plan your budget effectively and make a well-informed decision about studying there.

Cost of Living in Peterborough Overview

The average cost of living in Peterborough for a single person is approximately CAD 2791 per month, according to LivingCost Data. If we break it down, the rent for a one-room apartment ranges from CAD 1537 to CAD 1729 per month. Food expenses are about CAD 787 per month, and transportation costs are around CAD 55.8 per month. The overall cost of living in Peterborough per month can vary based on lifestyle choices, the specific area, and other personal factors.

Peterborough’s average monthly cost of living is about 18% of what you would find in the most expensive cities worldwide. In Canada, Peterborough ranks 40th out of 153 cities in terms of living costs. Key factors influencing these costs include housing, food, utilities, and transportation. This detailed overview provides a clear picture of what to expect when moving to Peterborough, assisting in effective financial planning for prospective residents.

Also Read: Cost of Living in Calgary: Updated Prices, Other Cities Comparison

Costs of Accommodation in Peterborough

Before relocating to Peterborough for higher studies, students must conduct thorough research and compare apartment rents in various parts of the city to find accommodations that suit their needs and budget. Rental costs in Peterborough can vary significantly depending on factors such as location, size, and type of housing.

The city offers a variety of options, including on-campus residences, off-campus apartments, and shared houses. Here is a breakdown of what you might expect to pay for different types of accommodations:

• On-Campus Housing: On-campus housing at institutions like the University of Prince Edward Island can range from CAD 800 to CAD 1,200 per month, depending on the type of room and meal plan chosen.
  
• Off-Campus Rent: For a one-bedroom apartment, rent can vary between CAD 1537 and CAD 1729 per month. A larger apartment or house suitable for sharing might cost CAD 2252 to CAD 2278 per month. To help you better understand housing expenses, we have compiled average cost data for various flats both inside and outside the city centre.

Apartment Type	Location	Approx. Monthly Cost
1 bedroom	in the City Centre	CAD  1729
3 bedrooms	in the City Centre	CAD 2252
1 bedroom	Outside of Centre	CAD 1537
3 bedrooms	Outside of Centre	CAD 2278

Cost of a Utility in Peterborough 

For a one-bedroom apartment in Peterborough, you can expect to pay around CAD 148 per month for utilities. This figure may fluctuate based on the specific services used and the apartment’s size. It’s important to factor in these utility costs when planning your budget, as they can significantly affect your overall cost of living in Peterborough.

Utility services in Peterborough cover essential amenities that are vital for comfortable living. These typically include electricity, water, heating, internet, and waste management. Here’s a brief overview of the average utility costs you might encounter in Peterborough:

Utility Type	Utility Name	Approx. Cost
Basic Utility Bills	Water, Electricity, Heating, etc	CAD 148
Internet	50 Mbps+, Unlimited Data, Monthly	CAD 63.9

Also Read: Cost of Living in Saskatoon: Updated Prices, Comparison with Other Cities

Costs of Dining in Peterborough

For those who like to eat out, Peterborough has a diverse culinary scene that can be both enjoyable and affordable. However, the cost of eating out varies based on the type of restaurant, the cuisine, the number of diners, and the location. Eating out regularly can affect the student budget and the overall cost of living in Peterborough. 

On average, a student might spend around CAD 787 per month on food. However, cooking at home is often a more economical choice for students. It will help you save you a lot of money. Here is an approximate estimate of the average cost of a meal at restaurants in Peterborough:

Type of Restaurant	Approx Cost of Meal in Restaurant
Lunch Menu	CAD 20.5
Dinner in a Restaurant, for 2 person	CAD 92.7
Fast food meal, equiv. McDonald’s	CAD 15
Cappuccino	CAD 4.89

Cost of Grocery in Peterborough

Grocery expenses play a substantial role in the daily cost of living in Peterborough, especially for those who cook their meals. Your choice of foods will influence your grocery budget, which in turn affects the overall cost of living in Peterborough, Canada. To manage grocery costs effectively, it’s advisable to compare prices at various stores and vendors.

Grocery prices can fluctuate based on factors such as the quality and quantity of items, as well as the store’s location and inventory. Below is a summary of average grocery expenses in Peterborough for those who prefer home cooking:

Grocery Item	Approx Cost
Milk (regular), (1 litre)	CAD 2.55
Loaf of Fresh White Bread (500g)	CAD 3.3
Rice (white), (1kg)	CAD 3.9
Eggs (regular) (12)	CAD 4.37
Local Cheese (1kg)	CAD 13.41
Apples (1kg)	CAD 4.55
Banana (1kg)	CAD 1.42
Oranges (1kg)	CAD 3.51
Tomato (1kg)	CAD 3.99
Potato (1kg)	CAD 1.47
Onion (1kg)	CAD 3.18
Lettuce (1 head)	CAD 2.73
Water (1.5 liter bottle)	CAD 2.24

Transportation Costs in Peterborough

For those who prefer cycling, Peterborough is bike-friendly with numerous trails and bike lanes, making it an economical and healthy transportation option. Peterborough boasts a well-rounded transportation system, including taxis, cabs, and bus services. For students, transportation costs will be a recurring part of their daily expenses as they commute to and from their college or university.

Understanding these transportation expenses is crucial for managing your overall cost of living in Peterborough. To assist you in budgeting for your travel needs, we have provided a table with the average transportation costs for the city. This information will help you plan your transportation budget and navigate Peterborough with greater ease.

Mode of Transport	Approx Cost
Ticket for Monthly Pass in a Public transport	CAD 66.9
Ticket for Local Public transport	CAD 2.74
Local tariff for the Taxi Ride of 8 km	CAD 13
1 L or 0.26 gal Gas / Petrol	CAD 1.47

Also Read: Cost of Living in Regina: Food, Room Rent & Transportation

Miscellaneous Costs in Peterborough

When budgeting for living in Peterborough, it’s important to account for various miscellaneous expenses that may arise during your studies. These can include costs for gym memberships, movie tickets, clothing, and minor medical appointments.  These may affect your cost of living in Peterborough.

While these expenses can vary depending on personal preferences and lifestyle choices, incorporating them into your financial plan is essential for effective budgeting. Here’s a detailed overview of these typical costs to help you manage your finances more effectively:

Miscellaneous	Approx Cost
Movie Ticket	CAD 16.4
Brand Jeans	CAD 89
Fitness Club	CAD 50.4
Brand Sneakers	CAD 106
Doctor’s visit	CAD 80.6

Cost of Living in Peterborough Compared to Other Cities

Peterborough stands out for its relatively low cost of living compared to many other Canadian cities. When planning your budget for the cost of living in Peterborough, it’s important to consider various expenses, including housing, transportation, dining, and entertainment.

Despite these costs, Peterborough remains an attractive option for those looking for a balanced lifestyle without the high price tag found in larger cities. To give you a clearer picture, here’s how the cost of living in Peterborough compares to other major cities and regions across Canada:

Cost of Living City Wise	Average Cost of living (including rent)	Comparison with Cost of Living in Peterborough
Cost of Living in Ontario	CAD 3072	Higher than Peterborough
Cost of Living in Calgary	CAD 2879	Higher than Peterborough
Cost of Living in Canada	CAD 2782	Higher than Peterborough

Average Tuition Fees in Peterborough

Understanding the tuition fees at universities in Peterborough is crucial for international students, as these costs significantly impact their overall cost of living in Peterborough city. Tuition fees in Peterborough’s universities can differ depending on the chosen program and level of study.

Prospective students should carefully assess their educational goals and financial resources when considering higher education in Peterborough. Here’s a summary of the average tuition fees at universities and colleges in the city:

University/College Name	Tuition Fees
Trent University	CAD 20070 – CAD 33560
Fleming College	CAD 15420 – CAD 25870

By effectively managing their finances, students can make the most of their opportunities to attain a high-quality education at a reasonable cost. Additionally, they should explore financial aid or scholarship options available on the official websites of Canadian universities.

Conclusion: Now that you understand the cost of living in Peterborough is relatively affordable compared to other Canadian cities, it becomes clear why it’s an appealing choice for students pursuing higher education. By being aware of the various expenses, students can enjoy a comfortable and enriching experience while studying in Peterborough.

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FAQs on Cost of Living in Peterborough

So, this was all about the cost of living in Peterborough. Many Indian students dream of pursuing education in foreign nations due to the exposure and career growth they offer. Consider joining a free counselling session with Leverage Edu if you plan to study abroad.