Cost of Living in Toronto
Median income in Toronto is CA$60,000/year (CA$5,000/month). Here is how to budget every dollar.
Average Rent in Toronto
CA$1,800
Studio
CA$2,300
1 Bedroom
CA$2,900
2 Bedrooms
Monthly Budget Breakdown: CA$5,000/month
How to allocate the median Toronto income of CA$60,000/year after taxes.
Housing
CA$2,300
Food & Groceries
CA$500
Transportation
CA$160
Utilities
CA$150
Healthcare
CA$0
Entertainment
CA$300
Personal & Other
CA$290
Savings
CA$1,300
Total
CA$5,000
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Affordable Neighborhoods in Toronto
Scarborough and North York offer significantly lower rents than downtown Toronto
Etobicoke has affordable options near Bloor-Danforth subway line
East York is an up-and-coming area with moderate rents and easy TTC access
Money-Saving Tips for Toronto
OHIP (Ontario Health Insurance Plan) covers doctor visits and hospital stays at no cost
TTC monthly Metropass ($156) for unlimited subway, bus, and streetcar rides
Shop at No Frills, FreshCo, or Chinatown markets for affordable groceries
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