Cost of Living & Salary in Toronto
Compare your salary to Toronto (Canada). With a cost of living index of 68 (NYC = 100), Toronto is 32% cheaper than New York. See what salary you need — calculated privately in your browser.
Cost of Living in Toronto
Toronto is Canada's financial capital with a diverse economy and growing tech scene. Housing costs have risen sharply. The city has a cost of living index of 68 relative to New York City (100), making it 32% cheaper than New York. Average salaries in Toronto are around CAD 62,000 per year, though this varies significantly by industry and experience level.
Housing is typically the largest expense, accounting for 35-40% of total living costs. In Toronto, housing costs are below the global city average. Food, transportation, and healthcare make up most of the remaining budget.
Salary Comparison: Toronto vs Other Cities
When comparing salaries across cities, raw numbers can be misleading. A lower salary in Toronto can go further due to lower living costs. Use this calculator to find the equivalent salary you would need in Toronto to match your current standard of living.
For example, someone earning $100,000 in New York (index 100) would need approximately $68,000 in Toronto (index 68) to maintain the same purchasing power. This accounts for housing, groceries, transport, healthcare, and entertainment.
Working and Living in Toronto
Toronto offers a relatively affordable lifestyle with growing opportunities for professionals. The city's job market is growing with increasing demand for skilled workers.
Beyond salary, consider quality of life factors: commute times, public transportation, healthcare access, cultural amenities, and climate. Local tax rates can also significantly impact your take-home pay and should be factored into any relocation decision.