Toronto, ON, Canada
Canada's largest and most diverse city, a global finance and tech hub with world-class dining — but housing costs are among the nation's highest.
Very High vs Canada avg (100)
Very Expensive
Household income
Job market health
Toronto vs Canada Average
Taxes
- Provincial Tax: 5.0%
- Sales Tax: 13.0%
Economy & Jobs
- Median Income: C$72,000
- Unemployment: 5.8%
- Population: 2,794,356
Climate
- Sunny Days: 206/year
- Summer High: 80°F
- Winter Low: 19°F
Housing
- Median Home: C$1,100,000
- 1BR Rent: C$2400/mo
Cost of Living
Toronto's cost of living index is 128.4 (Canada average = 100).
| Category | Toronto | National Average | Difference |
|---|---|---|---|
| Overall | 128.4 | 100 | +28.4% |
| Housing | 152.7 | 100 | +52.7% |
Data source: Statistics Canada, 2026
Housing Market
| Metric | Value |
|---|---|
| Median Home Price | C$1,100,000 |
| Median Rent (1BR) | C$2400/mo |
| Median Rent (2BR) | C$3,000/mo |
| Price per Sq Ft | C$733 |
Data source: Canadian Real Estate Association (CREA), 2026
True Cost of Home Ownership
Utilities
Estimated monthly utility costs for a typical household in Toronto:
| Utility | Estimated Monthly Cost | Notes |
|---|---|---|
| Electricity | C$165 | Based on ~900 kWh/month typical Canadian household usage |
| Heating (Gas/Oil) | C$259 | Estimated based on local climate. electric or gas heating |
| Water | C$55 | Includes sewer |
| Internet (100+ Mbps) | C$65 | Broadband average |
| Garbage / Trash | C$35 | Private service |
| Total Utilities | C$579 | Monthly estimate (including heating) |
Data sources: Statistics Canada, Canada Energy Regulator, CRTC
Best Neighborhoods
Downtown Toronto
The heart of the city with restaurants, shops, and entertainment. Average rent: C$2,880/mo.
Toronto Heights
Trendy area with local businesses and a mix of historic and modern housing. Average rent: C$2,640/mo.
East Toronto
Up-and-coming neighborhood with new developments and young professionals. Average rent: C$2,160/mo.
West Toronto
Family-friendly area with parks and good schools. Average rent: C$2,280/mo.
Remote Work Score
Toronto scores 105/100 for remote work readiness:
- Internet Speed: Average 200 Mbps (Good)
- Coworking Spaces: 15+ locations (Good)
- Cost of Living: Fair
- Climate: 206 year (Good)
- Quality of Life: Fair
Climate
Toronto has a varied climate with distinct seasons.
| Month | Avg High | Avg Low | Rainfall |
|---|---|---|---|
| January | 39°F | 19°F | 2.5" |
| April | 65°F | 34°F | 2.8" |
| July | 80°F | 55°F | 1.5" |
| October | 60°F | 37°F | 2.2" |
Taxes
- Provincial Tax: 5.05%
- Sales Tax: 13%
- Property Tax: ~0.67% of assessed value
Economy & Jobs
Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 5.8%.
Important Disclaimer: All data on this page is for informational purposes only and does not constitute financial, legal, tax, or real estate advice. URCity and Northshore Press are not financial advisors, tax professionals, or real estate agents. Always consult qualified professionals before making relocation or financial decisions.
Frequently Asked Questions
What is the cost of living in Toronto, ON, Canada?
The cost of living index in Toronto is 128.4, which is Higher the Canada national average of 100.
How much does it cost to buy a home in Toronto?
The median home price in Toronto is C$1,100,000. The housing index is 152.7.
What is the average rent for a 1-bedroom apartment?
The average rent for a 1-bedroom apartment in Toronto is approximately C$2400/mo.
Does Toronto, ON have income tax?
Toronto is in ON, which has an income tax rate of 5.05%.
What is the climate like in Toronto?
Toronto enjoys approximately 206 sunny days per year. Summer highs reach around <no value>°F,80°F, while winter lows can drop to around <no value>°F.19°F.
Data Sources
- Cost of Living: Statistics Canada, 2026
- Housing Data: Canadian Real Estate Association (CREA), 2026
- Income & Employment: Statistics Canada Labour Force Survey, 2024
Data last updated: July 6, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.