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

The most populated city in Canada is Toronto, which serves as the province’s capital. Toronto is a major global hub for culture, business, education, and finance in addition to being one of the most diverse and cosmopolitan cities on earth. If you’re interested in studying in Toronto, Canada and want to know what is the cost of living in Toronto.

Keep reading this blog to stay informed about the latest updates on the cost of living in Toronto. We have provided a comprehensive breakdown of average living expenses in Toronto, including rent and other essential costs. Let’s dive in and explore the details without further ado.

Cost of Living in Toronto Overview

The Cost of Living in Toronto is CAD 1509 without rent, and it depends on the location and the way of living of a person; it also differs on personal preference. However, the average rent in Toronto is between CAD 2100 and CAD 3,000 and can vary according to a person’s budget and the location you prefer.

A person needs to know the average expenses before moving to Toronto. To help expats planning to move to Toronto, we have categorised the average cost of living here into different categories. Here is the overview of the Cost of Living in Toronto for various categories: 

Also Read: Cost of Living in Cuba: A Comprehensive Guide on Cuba’s Expense

Cost of Transportation Toronto

The cost of transportation in Toronto is also fairly reasonable. On average, public transport costs around 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. Here, we have given various modes of transportation with their fare costs:

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

Cost of Dining and Grocery in Toronto

Toronto is known for its vibrant culinary scene, offering a range of dining experiences from traditional Canadian dishes to international cuisine. The average cost of a meal in an affordable restaurant in Toronto is around CAD 25 and in a mid-range restaurant for 2 people, including three main courses, the average cost of a meal is around CAD 120.

Although the food in Toronto is delicious, it is somewhat pricey. So you can save money by cooking in your room, and it won’t affect your budget for the cost of living in Toronto. For your convenience, the average expense of groceries in Toronto is shown in the table below:

Groceries Details	Average Cost
Fresh White Bread  (500g)	CAD 3.81
Milk (1 litre)	CAD 4.11
White Rice (1 kg)	CAD 4.63
Cheese (1 kg)	CAD 15.61
Apples (1 kg)	CAD 5.18
Oranges (1 kg)	CAD 5.22
Bananas (1 kg)	CAD 2.04
Tomatoes (1kg)	CAD 4.98
Onions (1 kg)	CAD 3.75
Potatoes (1 kg)	CAD 3.49
Eggs (12)	CAD 4.66
Water (1.5 liter bottle)	CAD 2.36

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Cost of Utility Bills in Toronto

The monthly basic utility cost in Toronto for a single person is Approx. CAD 309, this amount includes the cost of basic utilities like electricity, water, heating, cooling, and garbage. Which is relatively low compared to the cost of living in Toronto. For your reference, we have given the Cost of Utilities in Toronto for immigrant students in the country:

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

Cost of Recreation in Toronto

Movie tickets, Fitness Club, Tennis Court Rental, etc, expenses might be taken into consideration in addition to the overhead categories of the cost of living in Toronto. By budgeting carefully, you can enjoy all that this lively city has to offer. Please go to the table below for a list of the recreation costs that we have given.

Details	Approx Cost
Fitness Club	CAD 70.46
Tennis Court Rental	CAD 27.58
Movie Ticket	CAD 18

Cost of Accommodation in Toronto

Housing is one of the most significant parts of the cost of living in Toronto. The accommodation cost varies significantly depending on the location and the type of apartment you prefer. Generally around the city centre, the cost of apartments can be high but outside the city centre, it can be much lower. Students can select their residences according to their budget and facilities.

You can get a one-bedroom flat in Toronto for around CAD 10,111 rent per month for an individual in the city area, while a three-bedroom flat can cost up to CAD 15,552. 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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Average Tuition Fees in Toronto

Prospective students looking to study in Toronto should thoroughly research and compare tuition costs for their desired programs and universities. Tuition fees at Canadian universities often constitute the primary expense for students in Toronto. To assist you, we’ve compiled the average tuition fees from various universities in Toronto city. Refer to the table below for a quick overview of these costs.

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

The Cost of Living in Toronto Compared to Other Cities

Toronto is generally considered a relatively expensive city to live in compared to some cities in Canada. When comparing the cost of living in Toronto to other cities, several factors come into play, including housing, transportation, dining, and entertainment.

So to give you an idea of ​​how the cost of living in Toronto compares to other cities like Vancouver, New York, Canada, the USA, Los Angeles, San Francisco, Chicago, and Calgary. We’ve given the cost of living (not including rent) in other 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 Vancouver	CAD 1561	Higher than 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 Los Angeles	CAD 1828	Higher than Toronto
Cost of living in San Francisco	CAD 2032	Higher than Toronto
Cost of living in Chicago	CAD 1777	Higher than Toronto
Cost of living in Calgary	CAD 1,575	Higher than Toronto

Why Choose Toronto to Study Abroad?

Along with the effective cost of living in Toronto, it is one of the most well-liked places in the world to pursue an international education. Interestingly, Canada handled more than 3 lakh applications for study visas from Indian students last year, setting a record high that was 57% higher than in 2023. Indian students who have received approval to study in Canada. They mostly selected Toronto as their city of higher education. Let’s look at some of the factors that make Toronto a popular study-abroad destination for international students:

1. Academic Excellence: The main hub for education, research, and innovation in Canada is Toronto. There are numerous prominent universities in Toronto. Eight publicly financed universities and a number of smaller research organisations are located in the city. This city’s elementary and secondary education system is well-liked due to its many private and public schools.
2. Diverse City: One of the world’s most varied cities is Toronto. The city offers you a fantastic chance to get to know new individuals from all backgrounds and all around the world. If you’re thinking about going to school in Toronto, get ready to see how diversity permeates every element of people’s lives, including their food, music, dance, neighbourhoods, festivals, rituals, and even their companies. 
3. Friendly People: The majority of Canadians are renowned for being amiable. Canadians are the world’s friendliest people, according to new research on how people interact with one another throughout the globe. The study also demonstrates that Canadians converse more than people from other nations do. 
4. Scenic Beauty: Since Toronto is your next study destination, you will have many opportunities to see this city. Canada is famed for its stunning beauty. from the Toronto Zoo, beaches, Ripley’s Aquarium, Royal Ontario Museum, and other lovely parks. The city is full of unexpected hotspots and hidden beauties. 
5. Friendly Immigration: The United Nations ranked Canada as the nation that welcomed immigrants the best in the world, placing it at the top of the list once more. Canada intends to keep up its policy of welcoming immigrants. 

Things to Know When Moving to Toronto

Before moving to Toronto for higher education, it’s essential for students to be aware of several critical factors along with the average cost of living in Toronto. Understanding these elements can help in better planning and budgeting for a comfortable stay. Here are some of the other factors:

• The official languages of Toronto are English and French. Toronto is a multilingual city. Many languages, from Cantonese to Spanish and Italian, are spoken in the city, which is home to individuals from all nations and cultures. 
• One should become familiar with the city before learning about the expense of living. With an average temperature of 4.2 °C in January and rising to 22.2 °C to 32 °C in the summer, Toronto has continental climate characteristics. The city receives about 834 millimetres, or 33 inches, of precipitation each year. The most populous city in Canada, Toronto boasts a hugely diverse and cosmopolitan community and serves as the largest commercial, economic, and financial centre of the nation.
• The best option is to take public transit, which is widely available in Toronto and includes the subway, streetcars, and buses. A card that combines numerous possibilities or a monthly pass may come in handy. Another choice to think about in Toronto is cycling. 
• Be prepared for significant snowfall. The winter season, which lasts from December to March, is rather chilly. It calls for layers, warm clothes, and waterproof footwear.
• Emergency number and a well-developed healthcare system: Toronto is renowned for its excellent healthcare system. The city is home to more than 30 hospitals, including renowned facilities like the Toronto General Hospital. 9-1-1 is the emergency number in the entire city.

Also read:

Cost of Living in Sydney: A Comprehensive Guide on Sydney’s Expense	Cost of Living in Brooklyn: A Guide on Expected Expenses
Cost of Living in Napier: Overall Expenses Guide	The Cost of Living in Portsmouth: A Comprehensive Analysis
Cost of Living in Budapest: A Guide on Expected Expenses	A Guide on Cost of Living in South Africa

FAQs on Cost of Living in Toronto

This was all about the Cost of living in Toronto. Hope this blog will help you to make better and more informed decisions while spending your finances and do everything on a budget while studying abroad in Canada. Follow Leverage Edu for more interesting blogs related to study abroad.