Meaning, it will cost you $32.50 to get your butt to work and back each week and $130.00 per month. READ: This Is How Much It Costs A Young Person To Live In Toronto — On A Budget Based on these figures, the average monthly expense in 2019 then works out to $3,214.39. Toronto is 44% cheaper than New York City. As per the data from our users on costoffling.com website, rental expenses for family and couple is $1600 for students is $1200 and for bachelor is $1300. We averaged out a monthly gym membership for a young person (no student discounts, though) at $75 amonth. Once the reference point has been established, the Price Index value of every other city in the database is calculated by comparing their cost of living to the cost of living in Prague. Get a clear picture of the living expenses from education, housing, transport to entertainment in Toronto. A gym membership on the cheaper end of the spectrum would cost you about $60 a month, at places like the YMCA or GoodLife. Cost of Living Comparison Between Toronto and Edmonton Tweet You would need around 5,153.19C$ in Edmonton to maintain the same standard of life that you can have with 6,700.00 C$ in Toronto (assuming you rent in both cities). Many landlords in Toronto require renters to carry rental insurance. Cost Of Living In Canada – The Most Expensive Cities. A single traveler costs: $2,856 per month. Coffee costs: $2.24. Depending on where in Canada you choose to settle, your salary could differ massively as employers compensate for the cost of their city. Therefore, if a city has a Price Index of 134, that means that living there is 34% more expensive than living in Prague. With the cost of living in mind, the other major financial consideration is how much you’ll make. However, expats moving to Toronto from parts of the USA or Europe may find the cost of living considerably cheaper. Toronto is one of the most expensive places to live in Canada. Whatever your reason to migrate to Canada, you need to have a clear understanding of the cost of living in this nation. Cost of living in Toronto is more expensive than in 72% of cities in N. America (21 out of 72) Cost of living in Toronto is more expensive than in 84% of cities in the World (43 out of 262) Summary about cost of living in Toronto: Four-person family monthly costs: 3,450.15$ (4,635.45C$) without rent (using our estimator) . Horrifically expensive, locals have very low social skills and emotional availability (after a year and a half here ALL my close friends were recent expats, and I generally meet 10-20 new people a day), and a 7-month winter sub-zero winter (up to -40 celsius) that leaves everyone increasingly overweight and … Toronto in Ontario Of course, there is the option of a monthly Metropass (but coughing up $146.25 the same day rent is due is a tough one for some). Let’s take a look at how much it would cost a person to live in Canada. However average Cost of living in Toronto for family and couple is $1745 for students is $1330 and for bachelor is $1425. 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