Living in Toronto: cost of living, rent and salary
Updated 3 October 2026
In Toronto, a one-bedroom home costs about $1,780 (≈ €1,110) a month. To keep the lifestyle of someone living in London, you need about $3,220 (≈ €2,000) net a month. Here is the rent by type of home, the month’s budget line by line, and the sources.
Example: the same life, elsewhere
A single person living in London in a one-bedroom home, with the average spending of a similar household, spends about £3,350 a month. To keep the same life in Toronto, they would need about $3,220 (≈ €2,000) net a month locally (−49%), i.e. 1.2 times the Ontario minimum wage.
For a couple with two children in a two-bedroom home (state school), it would take about $5,370 (≈ €3,330) net a month in Toronto, i.e. 2 times the Ontario minimum wage.
Calculated on 3 October 2026 with the official averages of London and the destination’s prices. Yours depends on your city, home and habits: the calculator works it out in a few minutes, no sign-up.
Rent in Toronto
A one-bedroom home in Toronto costs about 24% more than the median of the 8 other cities tracked in the country.
| Type of home | Outside sought-after areas | Outside sought-after areas, in euros |
|---|---|---|
| Studio | $1,510 | €940 |
| 1 bedroom | $1,780 | €1,110 |
| 2 bedrooms | $2,070 | €1,290 |
| 3-bedroom house | $2,320 | €1,440 |
Monthly rent in CAD, outside the most sought-after areas. Studio 28 m², 1 bedroom 45 m², 2 bedrooms 65 m², house 95 m² where rent is known per m². CMHC (Canada Mortgage and Housing Corporation), October 2025 Rental Market Survey: average rent by number of bedrooms in each city, updated with the Statistics Canada rent index (August 2026).
A month’s budget in Toronto, line by line
For a single person renting a one-bedroom home and keeping the average habits of a household in London, here is what each line would cost in Toronto.
| Item | London | Toronto | Toronto (CAD) |
|---|---|---|---|
| Housing | £2,550 | £950 | $1,780 |
| Housing tax | £50 | £0 | $0 |
| Electricity, water, gas | £100 | £40 | $70 |
| Groceries | £200 | £230 | $420 |
| Restaurants and outings | £110 | £100 | $200 |
| Transport | £100 | £70 | $130 |
| Health | £40 | £0 | $0 |
| Phone and internet | £50 | £110 | $210 |
| Sport | £60 | £50 | $90 |
| Clothes | £60 | £60 | $110 |
| Hairdresser and beauty | £40 | £30 | $60 |
| Trips back to London | £0 | £80 | $150 |
| Total per month | £3,350 | £1,710 | $3,210 |
Estimate: lines without an answer take the official average of the departure city, then the destination’s prices. The calculator starts from your real amounts.
Visa, healthcare, school, electricity
These rules are the same across the country: find them on the page Living in Canada.
Frequently asked questions
What salary do you need to live in Toronto?
For a single person keeping the same life as in London: about $3,220 (≈ €2,000) net a month, i.e. 1.2 times the Ontario minimum wage.
How much is rent in Toronto?
About $1,780 (≈ €1,110) a month for a one-bedroom home and $2,070 for a two-bedroom home, according to CMHC (Canada Mortgage and Housing Corporation), October 2025 Rental Market Survey.
Is it expensive to live in Toronto?
In London, a single person spends about £3,350 a month; with the same life in Toronto, it would be about £1,710 (−49%).