Cost of Living in Toronto
Canada's financial engine; offers a diverse, safe, big-city life, but suffers from a severe housing affordability crisis.
Moving abroad? The Wise account makes relocation easy.
$2,808
Average cost per month
Distribution of Expenses
Multicultural neighborhoods & theatre
Lakeside skyline & humidity
High demand housing; financial center
Cost of living breakdown for Toronto
Living costs in Toronto can vary. You can expect to spend around $2,808 per month for 1 person as of 2026, on common living costs such as housing, food, and transport.
Housing
Standard of Living
Food & Drink
Toronto average costs for food and drink.
Salary & Services
Toronto average salaries and services.
Average living costs in Toronto
| Item | Average price | Price range |
|---|---|---|
| 1 Bedroom Apartment in City CentreRent Per Month | $1,655.61 | $1,468.63 - $1,982.65 |
| 1 Bedroom Apartment Outside of CentreRent Per Month | $1,458.84 | $1,285.05 - $1,688.92 |
| 3 Bedroom Apartment in City CentreRent Per Month | $2,727.09 | $2,349.80 - $3,671.57 |
| 3 Bedroom Apartment Outside of CentreRent Per Month | $2,259.43 | $1,835.78 - $2,570.10 |
.png)
Cities in Canada
Relocation made simple
Whatever you're relocating for, the Wise account is made to support you.
4.8★ on App Store 152K reviews
4.8★ on Google Play 1.3M reviews
Our smart app makes relocation easy
Frequently asked questions
The cost of living in Toronto depends on your lifestyle. On average, a single person needs $1,152 per month without rent, while a family of four requires $4,124. Renting a 1-bedroom apartment in the city centre costs an additional $1,656 on average.
Public transport prices vary, but generally, a one-way ticket for local transport in Toronto costs $2. If you are commuting regularly, a monthly pass is typically priced at $115.
The average monthly net salary (after tax) in Toronto is currently $3,668.
Dining costs depend on your choices. A meal at an inexpensive restaurant in Toronto costs approximately $18, while a three-course meal for two people at a mid-range restaurant costs around $88.
The estimated monthly cost of living in Toronto for a single person is $1,152, excluding rent.
For a family of four living in Toronto, the estimated monthly costs are $4,124, not including rent.
Rent prices in Toronto depend on the area. The average monthly rent for a 1-bedroom apartment in the city centre is $1,656, compared to $1,459 outside the centre. For a 3-bedroom apartment, the average is $2,727 in the centre and $2,259 in suburban areas.
Basic utilities in Toronto (including electricity, heating, cooling, water, and garbage for an 85m² apartment) cost an average of $143 per month. Internet access typically adds another $52.