In Canada, the cost of living varies greatly depending on the area you live in and what part of the country you call home. How much does it cost to live in Canada? For simplicity’s sake, we’ll focus on four major cities – Toronto, Montreal, Vancouver, and Calgary – and break down the basic costs of living there as well as some other costs you might run into.

How Much Does it Cost to Live in Canada?

Canada is a great place to live—it’s beautiful, safe, and diverse. However, you probably already knew that if you’re thinking of moving there. What are some things about living in Canada that may surprise you? Let’s take a look at how much Canada costs.

Where Should I Live in Canada

The most obvious consideration is to determine where you want to live. Are you a city dweller or more of a small-town person? Where do your family and friends currently reside? What kinds of weather are you looking for: warm year-round, snowy winters, hot summers? How far can you afford to be from an airport or train station?

Costs – per cities

There’s no one-size-fits-all when it comes to how much you should spend on rent, food, and other everyday expenses. The costs per city vary wildly based on what city you live in, but we’ve provided a list of four large Canadian cities where residents tend to spend more than average on certain lifestyle costs (Toronto, Montreal, Vancouver, and Calgary). Note that these are generalized averages across all incomes; actual costs may vary based on your income level.


Canada’s largest city, with about 2.8 million people living within its boundaries. It’s also Canada’s most expensive major city for housing, so if you want to live in downtown Toronto expect to pay a premium—but not as high as New York City or San Francisco! The median monthly rent for an apartment in downtown Toronto is $1,950 ($2,000-$3,500 for newly renovated apartments), which includes utilities such as heat and hydro.


Canada’s second largest city with a population of around 1.7 million. Prices for most costs are slightly cheaper than Toronto, but still higher than other large Canadian cities such as Vancouver and Calgary. Food costs are similar to Toronto—around $225 per month for a family of four living on two adults’ salaries.

For those who are renting, the average monthly rent for a studio apartment in Montreal is $1,095. For those who need 1 bedroom, the average monthly rent is $1,370, and for those looking for a 2 bedroom apartment, the average rent is $1,850.


Canada’s third largest city, with a population of over 2.6 million over the entire metropolin but 600,000 in the city. It’s also one of Canada’s most expensive cities for real estate—the average price for a single-family home is around $1.5 million (US$1.05 million). Rental rates are also high; an apartment in downtown Vancouver costs around $2,200 per month on average.


Calgary’s population has grown rapidly over recent years; it’s now Canada’s fourth largest city, behind Toronto, Montreal, and Vancouver, with a total population of 1.6 million for 2022.

The average monthly rent for a one-bedroom apartment is $1,195. A three-bedroom apartment costs around $1,400 per month. Food costs are comparable to other Canadian cities—around $200 a month for a household with two adults and two children.

What’s the Average Salaries in Canada?

The average salary in Canada is around C$55,836 per year. That’s an impressive amount, but how much of that is taken up by living expenses? And how can you go about making your own salary go further without sacrificing your quality of life? In this post, we answer those questions and more.

A Canadian Grocery Budget

Canada’s food market is largely unregulated (compared to other countries), which means grocery prices are high. A good way for budget-conscious Canadians to save money on groceries is by planning and shopping accordingly.

Here’s a sample Canadian grocery budget One of Canada’s most expensive cities, Vancouver, has some of Canada’s highest prices for groceries as well. According to Numbeo, a basket of goods that would cost $200 in New York City costs $250 in Vancouver.

Saving Money at Home

According to statistics from 2013, Canadians pay anywhere from $1.63 on a small loaf of bread up to almost $2.50 for a large one. If you’re not careful, your grocery bill can quickly become expensive! However, there are plenty of ways for you to save money at home without sacrificing your quality of life. Here are some tips that will help you keep more cash in your pocket: Stock Up When It’s On Sale and Eat In – Grocery stores typically offer price-matching guarantees and other discounts during certain times of year, such as after Christmas or back-to-school season. You should also consider eating in more often; planning meals around ingredients that are on sale is an easy way to save money while avoiding fast food joints or restaurants.

Canadain rent costs

The average rent on a one-bedroom apartment in Canada is $743. This can differ based on where you are, as well. In urban areas like Vancouver and Toronto, you can expect average rent costs of $1,086 and $1,187 respectively.

Real estate costs

The average price of a home in Canada is around $400,000 – 600,000. Of course, prices vary from city to city and from one type of home to another. Some cities have higher-than-average costs, while others are more affordable. When purchasing a house on a budget, watch for foreclosed homes. These are homes taken back by lenders because borrowers have not made payments on their mortgages. They offer nice, but reasonably priced, homes in nice neighborhoods.

Average savings in Canada

Canadian families spend 42% of their income on food, less than anywhere else in North America. In fact, Canadians spend less on basic necessities like food and clothing than people do almost anywhere else in North America.

The average Canadian family will save an estimated $1,311 per month. This works out to roughly 16% of their income. The big difference between Canada and its neighbour to the south is that Canadian families are doing a better job of saving ahead for retirement.The United States: The American Dream is about making as much money as possible so you can spend it on stuff you want.

Canadians are doing better than most when it comes to long-term savings. The average Canadian family has a nest egg of $60,000. That’s enough money to see them through a year without income. Canada also stands out when you look at how people plan for retirement. Canadians contribute more of their paycheque toward pensions, and they’re saving three times as much as American workers on average.

Housing: Canada’s booming real estate market means owning a home is one of your best long-term investments.

Canadian provident funds

When you start working, you’ll want to open a provident fund. This is where your future savings go until they’re needed for retirement. You can choose between an individual provident fund and a group one. The difference is that with an individual provident fund, you manage all of your own money. With a group provident fund, many people contribute to one pot of money managed by someone else. In both cases, your contributions are tax-deductible.


Canada’s low cost of living is an important factor in why people choose to relocate there. If you move there, you can save money and still live a comfortable life by cutting your costs on major items like food, housing, and utilities. Even with these advantages, Canada still faces higher costs than other countries in many categories like transportation. To decide if moving to Canada is right for you, think about how much each category will cost you on average and evaluate whether or not those costs are acceptable for you personally.

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