Cost of Living in Toronto, Canada in 2026 [Updated]

Toronto attracts thousands of students, professionals, and newcomers every year, yet many people still wonder what it truly costs to live in Canada’s most exciting city. The cost of living in Toronto in 2026 continues to rise, and understanding these numbers early helps you plan better, avoid surprises, and enjoy a stress-free move. An informed choice makes the difference between a comfortable lifestyle and constant financial pressure, and this guide gives you that clarity instantly.

Toronto raises important questions for anyone planning to live, study, or start a career in the city. Many people want simple, direct answers to things like:

• How much do I need for rent in Toronto in 2026?
• What is the average monthly budget for food, transport, utilities, and entertainment?
• Is Toronto still affordable for students and young professionals?
• Which areas cost more, and where can I save money without sacrificing comfort?
• How can I reduce expenses through smarter housing choices and reliable roommates?

Readers arrive here searching for real answers, and this page provides them clearly. You will discover updated prices, neighborhood comparisons, and practical tips that make living in Toronto easier. Platuni also helps you lower your cost of living in Toronto through smarter roommate matching, shared rent, and flexible co-living tools. Every part of this guide works hand-in-hand with Platuni’s mission: helping you live better, spend less, and settle faster in one of the world’s most dynamic cities.

Also Read: How Much Rent Can I Afford in NYC | NYC Rent Calculator

What is the Average Cost of Living in Toronto

Understanding the cost of living in Toronto helps you plan your budget before moving. Toronto attracts students, newcomers, families, and professionals because of its strong job market and world-class schools. Each group spends differently, yet the major expenses remain the same, rent, food, transportation, utilities, and entertainment. Platuni supports you through this process by helping you find the right roommates and the right neighborhoods so your monthly expenses stay manageable.

Here is a simple breakdown of the average cost of living Toronto residents experience:

Average Monthly Cost for a Student

• Rent: $1,100 – $1,500
• Food & groceries: $200 – $400
• Transportation: $125 – $150
• Utilities: $80 – $120
• Entertainment: $130 – $150

Also Read: Affordable Coliving in Chicago | Best Places to Live

Average Monthly Cost for a Single Person

• Rent: $1,200 – $1,895
• Food & groceries: $450 – $800
• Transportation: $140 – $250
• Utilities: $125 – $150
• Entertainment: $160 – $220

Average Monthly Cost for a Family of Four

• Rent: $2,400 – $3,500
• Food & groceries: $1,000 – $2,200
• Transportation: $350 – $860
• Utilities: $200 – $250
• Entertainment: $300 – $450

Living in Toronto is possible for every budget when you understand where your money goes. People spend the most on rent, followed by food and transportation. Platuni helps cut these costs with better roommate matching, shared rent options, and tools designed to make co-living smooth and stress-free.

Also Read: What are the Best Neighborhoods In Vancouver Canada

#1. Housing Prices in Toronto (Renting & Buying)

Housing Prices in Toronto

Housing remains Toronto’s biggest expense, and rentals are the most common option for newcomers. The cost of living in Toronto continues to rise, especially in downtown areas.

• 1-bedroom in Downtown Toronto: $2,200 – $2,700 (monthly rent)
• 1-bedroom outside Downtown: $1,800 – $2,100 (monthly rent)
• 1-bedroom downtown purchase price: $459,000 – $699,999
• 1-bedroom outside downtown purchase: $349,000 – $599,999

Source: Numbeo (https://www.numbeo.com/cost-of-living/in/Toronto)

Platuni makes it easier to manage housing costs through smart roommate matching. Sharing rent allows you to live in popular neighborhoods without overspending.

Property Tax in Toronto

• Average yearly property tax: $6,500 – $7,000
• Amount varies with location and property type
• Homeowners are billed twice a year

Property taxes add a major layer to the cost of living Toronto families face. Many newcomers choose renting until they fully understand how the system works. Platuni helps you settle in faster, find affordable spaces, and manage shared living without stress.

Also Read: How To Find Roommates In Boston | Top 10 Apps

#2. Average Utility Bills in Toronto

Utility bills are a major part of the cost of living Toronto residents face, especially during winter. Toronto gets extremely cold, with temperatures dropping as low as -25°C, which increases heating and electricity usage. Summers also raise costs for people with lawns who use more water. Planning ahead helps you avoid surprises, and Platuni makes it easier by matching you with roommates who share costs fairly and reduce monthly bills.

Here are the average utility costs you should expect in 2026:

• Basic utilities (electricity, heat, water, garbage): $120 – $145 per month
• Gas: $140 – $220 per month
• Mobile phone plan: $35 – $90 per month
• Internet/Wi-Fi: $56 – $100 per month
• Total monthly utility cost for a single person or couple: $350 – $400

Shared living through Platuni helps reduce these expenses. When you split utilities with the right roommate, your overall cost of living in Toronto becomes much easier to manage.

#3. Average Grocery Costs in Toronto

Grocery prices in Toronto are higher than in many other Canadian cities, and this affects the overall cost of living Toronto households experience. Food prices have been rising for years, and reports show that a family of four may spend over $16,833 per year on groceries in 2026. Students and single newcomers also feel this increase, which is why finding a compatible roommate through Platuni can help you share grocery expenses and reduce waste.

Here are the current average grocery prices in Toronto:

• Milk (1 liter): $4.10 – $6.99
• Eggs (12): $3.50 – $7.00
• Bread loaf: $2.50 – $5.51
• White rice (2kg): $2.30 – $10.00
• Chicken fillets (1kg): $10.00 – $25.99
• Apples (1kg): $2.00 – $7.00
• Bananas (1kg): $1.30 – $2.80
• Tomatoes (1kg): $3.00 – $8.80
• Potatoes (1kg): $1.10 – $5.49
• Onions (1kg): $2.00 – $6.59
• Local cheese (1kg): $7.99 – $35.00
• Beef round (1kg): $10.00 – $30.00
• Restaurant meal for two: $75 – $220
• McDonald’s combo meal: $11 – $25
• Cappuccino: $2.99 – $7.50
• Bottled water (100 ml): $1.50 – $4.00

Platuni helps you live smarter in Toronto. Matching with someone who shares your food habits makes grocery planning easier and cuts unnecessary spending.

Also Read: How To Find Roommates In New York City | Top 10 Apps

#4. Transit Costs in Toronto

Transportation is another major part of the cost of living Toronto residents consider. Most people rely on the TTC (Toronto Transit Commission), which includes buses, subways, and streetcars. It is reliable, accessible, and affordable compared to driving.

Here are the TTC fare rates:

• Single adult fare: $3.35
• Youth fare (13–19): $2.40
• Senior fare (65+): $2.30
• Daily pass: $13.50
• Monthly pass: $156.00

Platuni makes life easier for anyone who commutes daily. Choosing a roommate who lives close to your school or workplace can reduce your travel time and cost.

Car Insurance Costs in Toronto

Driving in Toronto comes with additional expenses. The yearly car insurance cost is approximately:

• $2,045 per year, depending on age, gender, driving history, and insurance provider.

Many newcomers discover that public transit is more cost-effective. Platuni also helps you find a home near transit-friendly neighborhoods so you can cut down the transportation part of your cost of living Toronto.

Also Read: How You Can Break The Ice With Your Roommate

#5. Entertainment Costs in Toronto (Sightseeing, Sports, and Leisure)

Toronto offers some of the most exciting entertainment options in Canada. The city gives residents plenty of ways to relax, learn, and have fun, even with a busy lifestyle. When people search for the real cost of living Toronto, understanding entertainment expenses helps them plan better.

Below are some average prices you should expect when enjoying Toronto’s top attractions and leisure activities:

• Royal Ontario Museum: $12.80 – $26.80
• Ripley’s Aquarium of Canada: $12.50 – $29.00
• Toronto Zoo: $13 – $26
• Casa Loma: $25 – $40
• Monthly Gym Membership: $40 – $120
• Cinema Tickets: $12.50 – $18
• Toronto Blue Jays Game: $35 – $135
• CN Tower (General Admission): $25 – $45

These activities highlight the vibrant lifestyle the city offers. Platuni always aims to guide you with the most updated and human-centered insights so you can enjoy Toronto without overspending.

Cost of Living Comparison with Other Major Canadian Cities

Understanding the cost of living Toronto becomes easier when you compare it with other major cities in Canada. Many newcomers and families often check these differences to choose the location that fits their lifestyle and budget.

For Toronto:

• Average monthly cost for a single person: $3,600 – $4,000
• Average monthly cost for a family of four: $7,600 – $8,500

Platuni helps you break down these numbers so you can make better financial decisions before moving.

Also Read: Roommate Compatibility Quiz | Find Your Ideal Housemate

Cost of Living Toronto vs. Montreal

Toronto vs Montreal

Montreal offers a strong job market, fun nightlife, and more affordable living. Many people love the balance of cost and comfort.

• Single person monthly cost: $3,275 – $3,800
• Family of four monthly cost: $5,750 – $6,500

This makes Montreal cheaper compared to the cost of living in Toronto, especially for families looking for lower monthly expenses.

Cost of Living Toronto vs. Calgary

Toronto vs Calgary

Calgary attracts many people because of its promising job opportunities, excellent healthcare, and overall better quality of life. Some even prefer Downtown Calgary over Toronto due to the calm environment and lower living expenses.

• Single person monthly cost: $3,000 – $3,600
• Family of four monthly cost: $5,100 – $6,700

These figures show that Calgary is more affordable, especially for families who want more space and lower monthly spending.

Cost of Living in Toronto vs. Ottawa

Toronto vs Otawwa

Toronto and Ottawa both attract newcomers for different reasons. Ottawa offers beautiful neighborhoods, government job opportunities, and a calm lifestyle. However, understanding the cost of living Toronto versus Ottawa helps you choose the city that truly fits your budget.

Here is what to expect in Ottawa:

• Single person monthly cost: $3,500 – $4,000
• Family of four monthly cost: $7,400 – $8,050
• Housing prices: Higher than many Canadian cities but still not as high as Toronto
• General expenses: Slightly more expensive for daily living compared to other smaller cities

Ottawa’s cost of living sits close to Toronto, so planning your move with accurate information is essential. Platuni gives you clear, updated guidance to help you avoid hidden financial surprises.

Also Read: How To Follow Up After Networking | Build Connections

Cost of Living in Toronto vs. Vancouver

Toronto vs Vancouver

Toronto and Vancouver stand as Canada’s most popular cities. Students, professionals, and families often compare these two cities when deciding where to live. Toronto is celebrated for its multicultural lifestyle and endless opportunities. Vancouver is known for its natural beauty, ocean views, and outdoor adventures.

Here is the average cost of living in Vancouver:

• Single person monthly cost: $3,700 – $4,200
• Family of four monthly cost: $6,600 – $8,500
• Lifestyle: More nature-focused, cleaner air, and more outdoor experiences
• Living expenses: Similar to Toronto, with both cities being among the most expensive in Canada

Choosing between these two depends on your lifestyle preference. Platuni helps you compare the cost of living Toronto with top Canadian cities so your decision becomes easier and more informed.

Also Read: The Art of Networking as a Student | Social Connections

Conclusion

Toronto remains one of the most expensive cities in Canada, and staying ahead requires smart budgeting. Groceries, rent, and transportation are rising steadily, so every resident needs a plan.

• Single people must understand their spending limits before committing to the city.
• Families need clear cost comparisons to decide where their money goes.
• Newcomers benefit from checking both the cost of living Toronto and the moving costs before relocating.

Platuni provides a reliable guide that helps you make confident decisions. Setting aside a realistic budget, understanding major expenses, and choosing the right services make your relocation much smoother.

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Frequently Asked Questions About Cost of Living in Toronto

What is the average cost of living in Toronto for a single person?

The average monthly cost of living Toronto for a single person ranges from $3,600 to $4,000, including rent, food, utilities, transportation, and entertainment. Platuni helps you plan your budget with accurate, up-to-date insights.

How much does a family of four spend in Toronto monthly?

A family of four can expect to spend $7,600 to $8,500 per month. This includes rent for a suitable home, groceries, transportation, utilities, and leisure activities.

How much does transportation cost in Toronto?

Public transit through the TTC is convenient. Monthly passes cost $156, while single fares are around $3.35. Car owners should also budget for insurance, averaging $2,045 per year.

What is a good salary to live comfortably in Toronto?

A single person should earn at least $4,500 to $5,000 per month to live comfortably, covering rent, food, transportation, utilities, and entertainment. For a family of four, a combined salary of $10,000 per month or more is recommended. Using Platuni, you can calculate shared expenses and find compatible roommates to lower your living costs.

Can students afford living in Toronto?

Yes, students can live comfortably with smart budgeting. Average student rent ranges from $1,100 to $1,500 per month, plus food, utilities, and transportation. Platuni offers tips for students to save money and find compatible roommates.

How can Platuni help with the cost of living in Toronto?

Platuni guides newcomers, students, and professionals to plan budgets, find roommates, and manage shared expenses. Using Platuni makes your transition to Toronto smoother, saving time, money, and stress.