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Cost of Living in Toronto: Transportation, Food, Rent Expenses & More

Updated on 28 February, 2024

Neha Uppal

Neha Uppal

Sr. Content editor

Toronto is the capital of the Ontario province, positioned on Lake Ontario’s northwestern shoreline and a part of the Canada-USA border. Before learning more about the cost of living in Toronto, you should learn more about the city. Toronto has continental climatic conditions, with average temperatures hovering around –4.2 °C in January and shooting up to 22.2 °C-32 °C in the summer season. The city gets nearly 33 inches or 834 mm of precipitation yearly. Toronto is the highest-populated city in Canada, an immensely multicultural and cosmopolitan area, and the country’s biggest commercial, economic, and financial hub. 

Toronto’s skyline is dotted with imposing structures like the famous CN Building, Scotia Plaza, First Canadian Place, Manulife Centre, Canada Trust Tower, Toronto-Dominion Centre, Commerce Court, and the Bay Adelaide Centre, among other skyscrapers. Other key city highlights include the City Hall, Royal Bank Plaza, Eaton Centre, Ontario Science Centre, Royal Ontario Museum, and more. The town has a stunning lakefront and vibrant downtown core, which are demarcated by the Gardiner Expressway and railway lines. 

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Toronto also offers good public transportation facilities, including buses, streetcars, subway and ferry systems, and the railway network. The city has two airports, namely the Billy Bishop Toronto City Airport and the Toronto Pearson International Airport. The city has a flourishing education sector, with diverse private and public school systems, along with French and English teaching choices. The public schools are free for residents, with kindergarten beginning from four years of age. High-school candidates can select between various general study programs before trade school/college and other advanced study programs leading to university entrances.

Cost of Living in Toronto

The actual cost of living in Toronto Canada varies across individuals and families, depending on their chosen lifestyles and other parameters. Yet, here are some basic living expenses in Toronto that visitors should be aware of. These are sub-divided across categories. 

Transportation– 

  • Local transportation- C$3.25 (one-way ticket)
  • Monthly transportation pass- C$156
  • Taxi Starting Tariff- C$4.41
  • Taxi Fare for 1 km- C$1.75

Food and Dining- 

  • Restaurant Meals- C$24.24 at cheaper eateries and C$117.50 at mid-range restaurants (for two)
  • Fresh White Bread (500g)- C$3.43 
  • Milk (1 litre)- C$3.42
  • White Rice (1 kg)- C$3.98
  • Cheese (1 kg)- C$15.23
  • Eggs (12)- C$4.17
  • Chicken Fillets (1 kg)- C$16.20
  • Potatoes (1 kg)- C$3.57
  • Bananas (1 kg)- C$1.65
  • Apples (1 kg)- C$4.66
  • Oranges (1 kg)- C$4.40
  • Tomatoes (1kg)- C$4.91
  • Onions (1 kg)- C$3.54

Utility Costs- 

  • Electricity, Cooling, Heating, Garbage, Water- C$177.05 per month
  • Internet- C$74.48 per month
  • Prepaid Mobile Phone Tariff (1 minute)- C$0.41

Entertainment and Recreation

  • Fitness Club- C$60.71 per month (one person)
  • Tennis Court Rental- C$22.59 (1 hour)
  • Movie Ticket- C$15 (1 seat)

Housing- 

  • 1 bedroom apartment rental (city center)- C$2,392.35
  • 3 bedroom apartment rental (city center)- C$3,710.15
  • 1 bedroom apartment rental (outside city center)- C$1,996.77
  • 3-bedroom apartment rental (outside the city center)- C$3,130.06

At this point, it is also worth mentioning that Canada has a free healthcare system. The country's tax system funds this, and reports estimate C$8,563 is paid annually by the average resident to maintain the cost-free healthcare system. Free healthcare is only provided for citizens of Canada and also people with permanent residence permits. These insights offer a better glimpse into Toronto's average living cost. 

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Average Tuition Fees in Toronto

For a better idea of the approximate tuition fees in Toronto, here’s looking at some of the city’s leading universities.

University NameTuition Fees (Approx Per Year in CAD)AccommodationBooks SuppliesHealth Insurance
University of Toronto$61,350
  • Dormitory style: $12,580 – $22,447(meals included)
  • Suite style: $11,628 – $11,803
$1,000–$2,000UHIP- $756
York University$30,000 
  • Residence (traditional single room for 8 months)- $7,512
  • Living off campus-$12,500
$1,200 – $2,600UHIP- $1026
Toronto Metropolitan University$31,749-38,472Residence Housing- $6,935–$11,697$1,400 – $9,400 UHIP-$756

Living in Toronto: Things to Know 

Living in Toronto promises wonderful experiences for almost everyone. Here are a few things worth noting in this regard: 

  • Toronto is a multi-lingual city- Toronto has two official languages, namely English and French. Housing people from multiple countries and cultures, the city speaks several languages, from Cantonese to Spanish and Italian. 
  • Brunches are a big deal in Toronto- Brunches are popular for Toronto residents, encompassing diverse delights like avocado on toast, innovative egg recipes, and pancakes with maple syrup. 
  • Public transportation is the way to go- Toronto has a robust public transportation network, including the subway, streetcars, and buses. A monthly pass or a card that combines multiple options could be handy. Cycling is another option worth considering in Toronto. 
  • Brace for heavy snowfall- The winter season from December to March is pretty cold, with sizable snowfall during this period. It necessitates waterproof shoes, warm clothing, and layers. 
  • Toronto has a whole underground ecosystem- The city has a network of stores and corridors that comprise its PATH system. It spans 19 kilometers and creates unique shopping experiences while navigating the city more comfortably in the colder months. 
  • Tipping is an accepted practice- There is a culture of tipping throughout Toronto’s cafes, bars, restaurants, and pubs, with most staff anticipating tips of 15-20% over the bill. It also ensures excellent service in most cases. 
  • Well-developed healthcare and emergency numbers- Toronto is acclaimed for its robust healthcare system. It has more than 30 hospitals throughout the city, including leading names like the Toronto General Hospital. The emergency number in every part of the city is 9-1-1. 

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Frequently Asked Questions

How much does it cost to live comfortably in Toronto?

The average cost of living in Toronto is approximately $3,848 each month for a single individual renting a home. The estimate takes housing, groceries, transport, and entertainment into account.

 

 


 

Is 40k a year good in Toronto?

Based on estimates of average living expenses in Toronto, $40k is a decent yearly salary in Toronto. However, the take-home amount will be a little more than $32,000. It is slightly lower than the salaries earned by a chunk of the working population.

 

 

 

 

 

 


 

Neha Uppal

Sr. Content editor

Neha Uppal is a passionate content creator and editor. She carries 7.5+ years of experience working with leading edutech companies where she worked as a Faculty, Community Manager, and Content Marketeer. At upGrad, she is helping out people keep informed about the scopes and opportunities of studying abroad via informational articles/blogs.

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