What is the estimated monthly cost of living in Toronto?

The latest single-person Market Basket Measure is about CAD 2,620 per month. Advertised rent is shown separately when published.

What salary is typically needed in Toronto?

A balanced planning estimate is around CAD 53,000 gross per year.

Are these exact prices?

No. These are planning baselines and should be adjusted to your neighborhood and lifestyle.

City snapshot

Cost of living in Toronto

Toronto is Canada's largest city and financial capital, offering diverse neighborhoods and career opportunities.

Planning baseline refreshed: May 2026Toronto CMA

3-category planning baseline

$2,326

Total annual: $27,912

Balanced salary needed

$53,000

Balanced

Population

7,108,874

2025 · Toronto (CMA), Ontario · Statistics Canada

Crime Severity Index

59.4

Toronto CMA

Official Basic-Needs Budgets

1 person$2,620

2 people$3,705

Family of 4$5,240

Market Basket Measure totals and advertised rent answer different questions. Rent is not added to the budget total because the MBM already includes a shelter component.

Data coverage: 100% (A) · 2025

Advertised Rent

Bachelor apartment$1,760

2026-01 · Toronto, Census metropolitan area (CMA)

1-bedroom apartment$2,110

2026-01 · Toronto, Census metropolitan area (CMA)

2-bedroom apartment$2,660

2026-01 · Toronto, Census metropolitan area (CMA)

3+ bedroom apartment$3,250

2026-01 · Toronto, Census metropolitan area (CMA)

Full-time centre-based childcare$545

2025 · Ontario

Local Indicators

Employed people3,736,700

Median after-tax income$82,500

Crime Severity Index59.4

Toronto, Census metropolitan area (CMA)

3-category planning baseline

Planning rent estimate (1bd)$1,761

Groceries$405

Transport$160

Total monthly$2,326

Compact estimated baseline for cross-city planning. The observed advertised rent above is the canonical market-rent value.

Move-in costs

First month of rent$2,110

Generic deposit assumption (1x rent)$2,110

Furniture for a 1-bedroom$2,500

Basic household setup$600

Estimated setup total$7,320

Generic planning assumption only. Provincial rules and your lease may permit a different deposit.

Plan the next step

Run income calculator See salary needed Rent affordability Mortgage affordability Compare cities Car costs Province tax calculator After-tax income guide

City profile

GeographyToronto CMA

Common languagesEnglish, Mandarin, Punjabi

Community contextSouth Asian, Chinese, Black

Housing and rent

Canada’s largest rental and ownership market, with high rent pressure.

Planning rent estimate (1bd): $1,761 · Total monthly: $2,326

Commute and daily life

TTC, GO Transit, regional highways and long cross-GTA commutes

Safety context

Toronto's safety snapshot uses the Crime Severity Index for Toronto CMA. CSI compares police-reported crime volume and seriousness; it is not a neighbourhood-level risk score.

Crime Severity Index: 59.4
Violent CSI: 82.7
Non-violent CSI: 50.5

How this city compares

Toronto ranks #18 of 47 tracked cities by the 3-category planning baseline and is +$162 versus the cross-city average.

Average city baseline$2,164

Largest cost driverPlanning rent estimate (1bd)

Salary guide for this city

Use these gross salary ranges as planning targets before running a detailed after-tax scenario for Toronto.

Essentials$42,300

Balanced$53,000

Comfortable$64,500

Best for

Toronto is strongest for financial district headquarters and a higher baseline than the tracked-city average.

Watch out for

Planning rent estimate (1bd) is the largest cost driver in the baseline. Plan around $2,326 per month before discretionary spending, plus about $7,320 for a basic move-in setup.

Local reality check

Rent represents about 76% of the baseline essentials shown here. Compared with the tracked-city average, this city is +$162.

Living in Toronto: what to budget for

Use this page as a starting point for Toronto: monthly essentials, move-in cash, salary targets, local population context, housing notes and safety data are shown together so you can move from research to a concrete budget.

Toronto stands as Canada's most populous city and primary economic hub, home to over 2.9 million residents.

The city offers world-class healthcare, education, and public transit through the TTC system.

Housing costs in Toronto are among the highest in Canada, particularly in downtown core neighborhoods.

The Greater Toronto Area provides numerous employment opportunities in finance, technology, and healthcare sectors.

Highlights

Financial District headquarters
Diverse multicultural neighborhoods
Extensive TTC subway and bus network
Lake Ontario waterfront access
Top-ranked universities nearby

Common questions

What is included in Toronto's monthly baseline?: The baseline includes a 1-bedroom rent estimate, groceries and transport for one adult. It is a planning baseline, not a quote.
Why do some metrics use a CMA or province?: National public datasets often publish city data by census metropolitan area, census agglomeration, province or territory. The geography is shown beside each metric.
How should I use the Toronto salary estimate?: Use it as a gross-income target, then run the income calculator with your province, city and real costs.

Sources and methodology

Population: Statistics Canada table 17-10-0148-01, latest annual estimate; Census Profile fallback when noted.
Crime Severity Index: Statistics Canada table 35-10-0026-01, latest published year.
Basic-needs budgets: MBM tables 11-10-0066-01 and 11-10-0104-01. Advertised rent: Quarterly Rent Statistics table 46-10-0092-01.

Sources and methodology

Cost transparency

Data used on this page

Advertised rent, basic-needs budgets, and local indicators each retain their own period, geography, and method.

Advertised rent

January 2026 · Toronto, Census metropolitan area (CMA)

Planning baseline

Estimated rent + groceries + local transport

Not used

Tax rules and mortgage rates do not determine these costs

Advertised rent and the MBM answer different questions and are not added together.

Sources and methodology