Cost of Living in Toronto

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Toronto is one of the most expensive places to live in Canada, though expats moving to the metropolis from major cities in the US or Europe may find the cost of living considerably cheaper.

The 2022 Mercer Cost of Living Survey ranked Toronto 90th out of 227 cities surveyed worldwide, placing it ahead of Vancouver at 108th. The city's ranking has increased from the previous year, making it the most expensive in Canada.

Cost of accommodation in Toronto

The largest expense expats relocating to Toronto will incur is likely the cost of accommodation.

The process of buying a property in Toronto is fairly straightforward, even for expats. So those planning a long-term stay will find that it's worth looking into purchasing a home. However, prices have continued to skyrocket with no signs of letting up.

For those looking to rent a property, costs vary considerably in Toronto and there are lots of options to suit any budget.

Cost of food and entertainment in Toronto

It's possible to maintain a good standard of living in Toronto without spending a fortune. The cost of groceries is cheaper in Canada than in Europe, but more expensive than in the US. It’s also possible to eat out in Toronto without breaking the bank. Plus, as a vibrant cultural hub, Toronto has many low-cost entertainment options and plenty of free outdoor activities to engage in.

Cost of transport in Toronto

While the public transport network in Toronto is extensive, it is also one of the priciest in the world. That said, commuting with a monthly pass can bring down costs. Expats who choose to own a private vehicle will need to budget for the considerable (and rising) costs of running a car. Insurance premiums are notoriously high in Toronto, while petrol (gas) prices continue to increase.

Cost of healthcare in Toronto

Although the Ontario government offers free basic health insurance to Toronto residents, the conditions for eligibility state that recipients must have lived in the province for at least three months. It's therefore best to purchase a comprehensive health insurance policy before moving to Toronto.

Cost of education in Toronto

Expats relocating to Toronto with children may need to factor in the cost of schooling. While expat students with a residence permit can attend public schools in Toronto at no cost, those without this permit will be required to pay fees.