Cost of Living in Toronto

The cost of living in Toronto vies with Vancouver for the title of Canada’s priciest metropolis, although expats relocating from major cities in the US or Europe may find expenses here more manageable. Accommodation will likely take the biggest bite out of your budget, and rental prices can come as quite a jolt if you’re used to more moderate markets elsewhere.

Cost of accommodation in Toronto

Accommodation in Toronto will likely be your most significant expense. Rental prices swing wildly depending on location. A one-bedroom apartment in the city centre can cost nearly double what you’d pay in the outskirts. Don’t forget to factor utilities into your budget planning as well.

Buying a property in Toronto might make sense if you plan to stay long term. Purchasing a home here is relatively straightforward, although the market is competitive despite recent cooling. Finding your way through this market can be challenging for newcomers, particularly with requirements like substantial down payments and additional taxes.

Accommodation and Utilities in Toronto 
Areas and Suburbs in Toronto

Cost of transport in Toronto

The cost of transport in Toronto can add up quickly. A monthly adult pass on the Toronto Transit Commission (TTC) is among Canada’s priciest. It’s still more economical than buying individual fares if you’re a frequent traveller. The TTC has several upgrades planned over the next few years, including light rail expansions and improvements to existing bus and subway routes, which should make getting around more convenient.

Savvy commuters have plenty of ways to trim transport costs. Public transport is still one of the savviest ways to get around without blowing your budget. Cycling has surged in popularity as Toronto expands its bike lane network – a win for both your wallet and your fitness.

Running a car here can burn a hole in your wallet. High insurance premiums and rising petrol prices make vehicle ownership expensive. Car-sharing services like Zipcar or Turo work well for occasional use without the long-term costs of ownership.

Getting Around in Toronto

Cost of groceries in Toronto

You can maintain a good standard of living in Toronto without spending a fortune on groceries. Prices in Canada generally sit between European and US levels – more affordable than Europe but pricier than the States. To cut costs, you can shop at discount supermarkets such as FreshCo, No Frills, and Food Basics, which are known for competitive pricing.

Farmers’ markets provide another avenue for savings, particularly during peak harvest seasons when local produce is abundant. Shopping smart at different locations can stretch your monthly grocery budget considerably. Seasonal variation matters: local harvests in summer months typically bring the best deals.

Cost of entertainment and eating out in Toronto

The cost of entertainment and eating out in Toronto needn’t drain your wallet. The city’s diverse population has created a restaurant scene serving flavours from around the globe, with plenty of budget-friendly choices. Kensington Market, Chinatown, and The Danforth are well known for affordable and delicious dining – everything from Greek tavernas to dim sum spots.

Toronto is a lively cultural hub with plenty of low-cost entertainment options. There is always something to see and do, from street festivals to art galleries. Some great free events include the Toronto International Film Festival’s outdoor screenings, the Cabbagetown Festival, and the Toronto Caribbean Carnival, a massive celebration of Caribbean culture held each summer. Nuit Blanche, an all-night arts festival each October, lets you experience the city’s contemporary art scene without spending a penny.

Nature lovers can lose themselves in Toronto’s parks and outdoor spaces. Take a leisurely hike through leafy trails, cycle along scenic paths, or kick back by the waterfront with a good book.

Shopping, Attractions, Events and Activities in Toronto

Cost of education in Toronto

Relocating to Toronto with children means factoring the cost of education into your budget. This can represent a significant expense, particularly if you’re aiming to provide top opportunities for your kids. Children with residence permits can attend public schools at no charge. Those without permits must pay fees, which can be substantial.

Private and international schools offer another route, although they come at a premium. Many schools provide financial aid, scholarships, and bursaries to help offset costs.

Schools and Education in Toronto

Cost of healthcare in Toronto

The cost of healthcare in Toronto centres largely on what falls outside public coverage. Ontario provides free basic health insurance to eligible residents through OHIP.

OHIP covers essentials like doctor visits, hospital stays, and emergency care, but doesn’t extend to dental, vision care for most adults, or prescription medications. You’ll likely need supplemental private health insurance to fill these gaps. Popular providers include Manulife and Sun Life, offering coverage for dental, vision, prescriptions, and additional medical services. Many employers sponsor these plans. If you’re arranging coverage independently, shopping around helps you find the best fit for your needs and budget.

Healthcare, Health Insurance and Best Hospitals in Toronto

Cost of living in Toronto chart

Prices are listed in Canadian dollars (CAD) and may vary depending on the product and service provider. The list below shows average prices for Toronto in November 2025.