What is the cost of living in Toronto?

The cost of living in Toronto is 45.4% cheaper than New York City (index: 54.6). Groceries are 36.0% cheaper than NYC. Restaurants are 31.7% cheaper than NYC. A 1-bedroom apartment in the city centre costs approximately CAD 2,264 per month. Local purchasing power index is 141.3 (NYC = 100).

How much tax do you pay in Canada?

In Canada, a gross salary of CAD 79,628 per year results in approximately CAD 5,004 per month take-home pay after income tax and social contributions (effective rate: 24.6%). Use our Canada tax calculator for a personalised breakdown.

🇨🇦 Canada · #93 of 577 cities · 2026

Should I Move to Toronto?

Q: Should I move to Toronto?

Toronto, Canada has a cost of living 45.4% cheaper than New York City (index: 54.6). It is ranked #93 out of 577 cities globally. Local purchasing power is very strong (index: 141.3 vs NYC = 100). Workers in Canada earning CAD 79,628 gross take home approximately CAD 5,004/month after tax. Use our salary comparison calculator to see exactly how your take-home pay would change.

45.4% cheaper than NYC, and purchasing power is very strong.

Run the calculator below with your actual salary to get a personalised answer.

-45.4%

vs NYC

CAD 2,264

1-BR, city centre

CAD 5,004

Net take-home

Very strong

Purchasing Power

Cost index: Numbeo, blended with Expatistan and LivingCost where available (NYC = 100) · Data from October 2026

Personalised Answer

Compare your salary: move to Toronto?

Example: CAD 79,628 gross/year in Canada → CAD 5,004/month net after tax (24.6% effective rate). Full Canada tax breakdown →

Cost breakdown: Toronto

Cost indices vs NYC = 100

Cost of Living

54.6 Expensive

Rent

35.9 Affordable

Groceries

64.0 Moderate

Restaurants

68.3 Moderate

Purchasing Power

141.3 Very strong

Rent in Toronto

1-BR, city centre CAD 2,264/mo

1-BR, outside centre CAD 2,024/mo

3-BR, city centre CAD 3,849/mo

3-BR, outside centre CAD 3,021/mo

Save by going outside centre 11% cheaper

Numbeo · 2026-10-02

Canada take-home pay

CAD 79,628 → CAD 5,004/Net take-home (24.6% effective rate, single filer)

Full Canada tax calculator →

Considering alternatives?

Cities in the same country or region with a comparable cost of living.

🇨🇦 Vancouver

Canada

CoL index 55.3

Compare Vancouver vs Toronto →

🇨🇦 Burnaby

Canada

CoL index 53.3

Compare Burnaby vs Toronto →

🇨🇦 Victoria

Canada

CoL index 51.4

Compare Victoria vs Toronto →

Ready to run the numbers?

Enter your salary and current city. Get exact take-home pay in Toronto after tax, in seconds.

Compare salaries → Full cost of living data

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