How expensive is Toronto compared to other major Canadian cities?

Toronto is one of the most expensive major cities in Canada, trailing only Vancouver in overall cost of living. Housing costs are the biggest driver, making it significantly pricier than cities like Montreal or Calgary. For example, the average rent for a one-bedroom apartment in downtown Toronto is around $2,500, whereas in Montreal, it's closer to $1,700, and in Calgary, about $1,800. Property purchase prices show an even starker difference: a detached home in Toronto averages over $1.3 million, compared to roughly $550,000 in Calgary and $600,000 in Montreal. While income tax rates are similar across provinces, Toronto’s higher housing and general living expenses mean your dollar stretches less far. Groceries and utilities are also slightly higher in Toronto than in other major cities, although the difference is less dramatic than with housing. For instance, a basic utility bill for an 85m² apartment might be $180 in Toronto versus $150 in Montreal. If you're considering Toronto, be prepared for a substantial portion of your income to go towards housing. Explore opportunities for roommates or consider suburbs if you want to make your budget work.