The cost of living in Toronto is the thing that makes a good Canadian salary feel smaller than it is. Rent takes the biggest bite, and everything else is manageable if you know where the money goes. This is the budget I would hand a developer moving here: what things cost, where you can save without misery, and two sample monthly budgets, one for a junior and one for a senior.
Rent: the number that decides everything
A one-bedroom apartment in most of Toronto runs roughly CAD 2,000 to 2,500 a month, more in new downtown towers and less in older buildings further along the subway lines. A room in a shared place is often CAD 1,000 to 1,400. Rents peaked a couple of years ago and have softened, but Toronto is still one of the two most expensive cities in Canada to rent in.
What moves the price:
- Distance from the core. Being twenty minutes further along Line 1 or Line 2 can save several hundred dollars a month for the same size unit.
- Building age. Older mid-rise buildings are cheaper and often larger than new condos. They rarely have a gym; they often have more storage.
- Utilities. Some rents include heat and water; hydro (electricity) is usually extra. Ask.
- Time of year. More units come up in spring and summer; winter listings are fewer and sometimes cheaper.
Landlords typically ask for first and last month's rent upfront, plus a credit check and proof of income. As a newcomer you may have neither credit history nor a Canadian job yet. Offer a larger deposit where legal, a letter of employment, or bank statements; some landlords are used to newcomers, and the ones who are will say so.
Everything else, monthly
| Item | Rough monthly cost | Notes |
|---|---|---|
| Transit pass (TTC) | CAD 150 to 160 | Unlimited subway, streetcar, bus. Per ride is cheaper if you work from home. |
| Phone | CAD 40 to 70 | Discount brands (Fido, Koodo, Virgin, Freedom). Bring your own phone. |
| Home internet | CAD 60 to 100 | Shop around; promotional rates expire. |
| Groceries, one person | CAD 400 to 600 | Discount chains (No Frills, Food Basics) versus premium (Loblaws, Whole Foods) is a real gap. |
| Hydro and utilities | CAD 50 to 150 | Depends heavily on what rent includes and on winter heating. |
| Health | Mostly covered | OHIP covers doctors and hospitals. Dental, prescriptions and glasses are extra unless your employer plan covers them. |
| Eating out | CAD 20 to 30 per casual meal | Plus tax and a 15 to 20 percent tip. Adds up faster than anywhere I have lived. |
| Gym | CAD 30 to 90 | Community centres are the cheap option. |
The hidden newcomer costs
- Winter clothing. A real coat, boots and layers. Budget a few hundred dollars once; it is not optional.
- Furniture. Unfurnished is the norm. Facebook Marketplace and IKEA are the newcomer standard.
- Sales tax. Ontario adds 13 percent HST at the till. The price on the shelf is not the price you pay.
- Tipping. Expected at restaurants, bars, hairdressers and for delivery.
- The first month without a paycheque. Landing to first salary is often six to ten weeks even with a job. Arrive with runway.
Two sample budgets
Junior developer, about CAD 70,000, living alone
Take-home after tax and deductions is roughly CAD 4,400 a month. Rent for a modest one-bedroom outside the core, CAD 2,100. Transit, phone, internet, utilities, about CAD 350. Groceries CAD 500. Eating out and social CAD 350. That leaves roughly CAD 1,100 for everything else and saving. It works. It is not comfortable, and one surprise expense hurts. Sharing a two-bedroom drops rent to around CAD 1,300 and turns this into a very different month.
Senior developer, about CAD 130,000, couple, one income
Take-home roughly CAD 7,300 a month. A better one-bedroom or a small two-bedroom, CAD 2,700. Fixed costs CAD 400. Groceries for two CAD 800. Eating out and social CAD 600. Roughly CAD 2,800 left for savings, travel, and the RRSP and TFSA contributions that quietly make the long-term difference. This is a comfortable Toronto life, and a second income makes it a very good one.
Toronto is expensive but it is not a trap. Almost every developer I know who felt squeezed here was paying for a downtown address they used mostly to sleep in. Live one neighbourhood further out for the first year, learn the city, and move once you know which trade-offs you actually care about.
Toronto versus other Canadian cities
Vancouver's housing is usually the most expensive in the country, with Toronto very close behind. Montreal, Calgary and Ottawa are meaningfully cheaper to rent in, often by several hundred dollars a month for a comparable unit, and Calgary has no provincial sales tax. Salaries in those cities are somewhat lower, but the gap in rent is bigger than the gap in pay. The city comparison guide puts the two side by side, and the salary guide gives the income side of the equation.
Useful sources
I live this budget in Toronto, and I build software for local businesses that live theirs. If you are planning the move and want a sanity check on your numbers, send them over.
Questions people ask
How much is rent for a one-bedroom in Toronto?
Roughly CAD 2,000 to 2,500 a month for a one-bedroom in most of the city, more in the core and in new towers, less further out along the subway and in older buildings. Rents have softened from their peak but remain the biggest line in any budget.
Can a junior developer afford to live alone in Toronto?
It is tight but doable on a typical junior salary if you live outside the core or take an older unit. Many juniors share for the first year or two, which turns a stretched budget into a comfortable one.
Do I need a car in Toronto?
No. The subway, streetcars and buses cover most of the city, and a monthly pass costs a fraction of car ownership. A car becomes useful in the suburbs, not downtown.
How much are phone plans in Canada?
Canada is expensive for mobile. Expect around CAD 40 to 70 a month for a plan with a reasonable amount of data from the discount brands, more from the main carriers. Bring your own unlocked phone.
Is Toronto more expensive than Vancouver?
They trade places depending on the year and the category. Vancouver housing is usually the most expensive in Canada, while Toronto's overall cost of living is very close behind. Calgary, Ottawa and Montreal are meaningfully cheaper than both.