Cost of Living in Canada

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Generally, the cost of living in Canada is high – but so is the quality of life. Mercer’s 2024 Cost of Living Survey, which measures the comparative cost of items in 226 cities worldwide, ranked Toronto as the world’s 92nd most expensive city, with Vancouver at 101st. Montreal, Ottawa, and Calgary are more affordable, ranking 118th, 126th, and 141st, respectively.

While housing is expensive, if you earn a decent salary, you’ll find these cities to be otherwise affordable, thanks to Canada providing subsidised health insurance and education.

Cost of Living in Calgary
Cost of Living in Montreal
Cost of Living in Ottawa
Cost of Living in Toronto
Cost of Living in Vancouver

Cost of accommodation in Canada

Accommodation costs in Canada vary across different cities and regions. Rent in major cities like Vancouver and Toronto is the highest, but there are signs of decline after previous spikes. Prices are gently lowering after the pandemic, helped by increased apartment construction and reduced demand.

For more affordable options, places like Saskatoon, Fort McMurray, and Regina offer much cheaper rental rates than major metropolitan areas.

Utilities are another expense you’ll need to budget for. Heat costs can be particularly high during winter due to the freezing temperatures. In the summer, these costs are usually lower.

Accommodation and Utilities in Canada

Cost of transport in Canada

The cost of getting around Canada depends on where you are. The public transport system is vast, but the cost varies depending on the city. Toronto’s monthly passes are among the most expensive, whereas Calgary offers a more affordable option. The cost is significantly lower in smaller places like Charlottetown, with monthly passes priced very reasonably.

Public transit, biking, and even ride-sharing can be good options if you don’t drive. Many cities have bike-sharing programmes, and there are free or discounted fare days to help you save money. Owning a car can be convenient, but insurance rates are a cost to consider, with urban areas facing the highest premiums due to higher accident rates.

Public Transport and Driving in Canada

Cost of groceries in Canada

Food and drink costs in Canada vary by location. In urban centres like Toronto, prices tend to be higher due to increased demand and the costs retailers face. Rural areas can also see higher prices, especially for items that need to be transported long distances, which affects availability and cost.

Seasonal fluctuations also impact prices for fresh produce. During peak harvest seasons in late summer and early autumn, prices for fruit and vegetables tend to decrease. Imported produce can be pricier in the off-season. If you’re looking for speciality meats like bison, for instance, they are generally more expensive compared to staples like beef or chicken, often costing up to 30 percent more because of limited availability.

Cost of entertainment and eating out in Canada

Entertainment and eating out in Canada can vary widely in cost depending on what you’re into. If you love the outdoors, there are plenty of budget-friendly activities like skiing, mountain biking, or hiking. Skiing, for instance, can be affordable if you go during the off-season: Early and late in the ski season, lift tickets are often discounted by up to 45 percent.

If you enjoy culture and nightlife, there are a few costs to keep in mind. Cinema tickets are relatively inexpensive, although premium formats like IMAX or 3D might set you back a bit more. Theatre tickets can vary a lot – weekday matinée performances are often cheaper, whereas popular shows in prime seating can cost quite a bit more.

Rising food costs and other expenses have meant that restaurants have had to adjust prices upwards. Even so, many restaurants offer loyalty programmes and special offers that can help you save. If you’re dining out frequently, it’s worth watching for these deals to get the most bang for your buck.

Cost of education in Canada

Canada is well known for its abundance of high-quality and affordable schools that attract many international students. If you have young children, you’ll appreciate that Canada provides free public education to all citizens and permanent residents, from kindergarten to secondary school.

Each region administers its own education system, meaning provincial policies and requirements may differ. Tuition fees for international students vary significantly across Canada. Ontario, for instance, has some of the highest fees, whereas provinces like New Brunswick and Manitoba are known for offering more affordable rates.

If you don’t have a permanent resident card or a work permit, you’ll need to apply for a study permit for your children, which means they would be classified as international students and tuition would be charged. Tuition costs can be quite steep, especially in larger cities.

Education System in Canada

Cost of healthcare in Canada

Canadian citizens and permanent residents are eligible for health insurance. The country’s healthcare system consists of provincial and territorial health insurance plans funded through taxes and administered by the provinces and territories themselves.

After applying for public health insurance, a waiting period applies. Most provinces have a waiting period of around three to six months, during which you’ll need temporary private health insurance. The costs for temporary private health insurance can vary depending on the coverage you choose and your age, but it’s essential to ensure you’re protected during the gap before your provincial plan kicks in.

If you want access to services not covered under your province or territory’s health insurance plan, you can buy private health insurance, which usually includes prescription drugs, dental costs, private hospital rooms, ambulance services, and prescription glasses.

Healthcare and Health Insurance in Canada