Cost of living in Toronto: Complete guide for 2025
Toronto is a cosmopolitan city in Canada and is also a popular city to study in, as well as for immigrants. With its diverse culture, booming economy, and world-class amenities, Toronto affords its residents an outstanding quality of life. The good news is, however, that you must consider the cost of living when moving.
In this article, you will discover everything there is to know about the different expenditures you may face in Toronto. We’ll cover everything from housing and transportation to food, utilities, entertainment, healthcare and education to ensure you’re making informed decisions about what money is necessary.
If you’re a student who plans to study in Toronto, or an immigrant looking to settle, then you’ve got to know the cost of living so that you know your budget and how to plan out your finances. At the end of this guide, you'll know what to expect and be better informed on making decisions regarding your move to Toronto.
Housing Costs in Toronto
One of the biggest costs you could face is in housing. The price can differ significantly, so if friendlier or larger, it will cost more.
Apartments and Condos
- Rent: A one-bedroom apartment in the city centre will cost you around CAD 2,500 on average per month. Prices, though, can be higher than in trendy neighbourhoods.
- Utilities: Expect to pay CAD 150-$200 per month for utilities such as electricity, heating and water.
Rent for Students
- On-Campus Housing: Universities as well as types of accommodation vary in price, but on average, prices could be CAD 1000 to CAD 2000 per month.
- Off-Campus Housing: For around CAD 1,500 to $2,000 per month you will be able to find shared apartments or houses.
Homeownership
- Purchase Prices: House prices in Toronto are much higher than in much of the rest of Canada. If you’re looking for a home in a good neighbourhood, expect to save several million dollars. CAD 1.5 million (as of 2025)
- Mortgage Rates: In some, mortgage interest rates in Canada are lower than in many countries so homeownership is more affordable.
Transportation Costs in Toronto
In addition, in Toronto transportation is a very big expense. There is well-developed public transportation in the city, or you can own a car if you fancy.
Public Transportation
- TTC: The Toronto Transit Commission (TTC) operates a subway, streetcars and bus system. About CAD 150 is the cost of a monthly pass.
- GO Transit: GO Transit operates commuter trains and buses to areas around for longer distances.
Car Ownership
- Average Car Price: For a new car, that’s anywhere from CAN$30,000 - $40,000 depending on model and brand.
- Insurance Premiums: These can vary from CAD 1,000 to $3,000 a year, depending on the age, how much experience you have driving, and what type of car you drive.
- Parking Costs: In downtown areas, hourly rates range from CAD 5 to $10 while monthly parking passes will cost several hundred dollars.
Food Costs
If you eat out a lot, food can be expensive. But saving on food doesn’t have to break the bank.
Grocery Shopping
- Supermarkets: The major supermarkets, Loblaws, Metro, and Sobeys, have lots of products in stock at competitive prices.
- Discount Stores: If you want to save some money, then head to no frills and food basics because they are budget stores. Up to 20 per cent lower than major supermarkets, prices.
- Farmers' Markets: Farmers’ markets are a great place to find fresh, local produce if you are looking for it.
- Average Weekly Grocery Bill: $150-$200 (depending heavily on shopping habits and dietary restrictions)
Dining Out
- Restaurants: Toronto has some good restaurants which serve food from all over the world. The price varies a lot how much is the restaurant is and where it?
- Fast Food: Out of all these chains fast food such as McDonald's Subway and Tim Hortons are there for a quick and affordable meal.
- Casual Restaurants: Meal prices are around CAD 20-$30 on average.
- Fine Dining Restaurants: I find that the average meal price can be over CAD 100.
- Fast Food: For meals, it should be around CAD 10-$15.
Utility Costs
Utilities are some pretty essential, dollar expenses you are going to have to see, to live off of. The cost also depends on how you live, and the size of your accommodation.
Electricity:
- Average Monthly Cost: CAD 80-$120 (varies by usage and by rates)
Heating:
- Average Monthly Cost: Heating quotes range between CAD 150 and $250, depending on the type of heating and how you use it.
Internet and Phone:
- Average Monthly Cost for a Basic Plan: CAD 50-$70
- Higher-Speed Plans: It can run you CAD 100, or more per month.
Entertainment Costs
If you're a regular visitor to Toronto sports, theatres or museums, the prices can add up quickly—unless you can get access to some free entertainment.
Movies and Theaters:
- Movie Ticket Prices: Tickets are average around CAD 15-$20.
- Theatre Ticket Prices: It can range from somewhere in the order of CAD 30 up to $100 or more depending on the show and location.
Museums and Galleries:
- Admission Fees: Ranges usually fall between CAD 10 to $20 per person.
- Membership Costs: These vary wildly by location but could come with huge discounts on admission and other benefits.
Sports and Recreation:
- Sports Tickets: Prices vary widely based on a game, an individual team and seat location. Ticket prices to sports games can get popular teams like the Toronto Maple Leafs and Toronto Raptors into the over CAD 100.
- Free or Low-Cost Activities: There are many passions in Toronto: Hiking, biking and swimming to name a few.
Healthcare Costs
On the whole, healthcare in Canada is affordable, but Canadians need to look carefully at prescription drugs and health insurance.
Health Insurance
- Provincial Health Insurance: If you’re a resident of Ontario, you will qualify for provincial health insurance, which pays for most services deemed medically necessary.
- Supplementary Insurance: You may want to buy medical supplementary insurance to cover the costs which are not paid by provincial health insurance such as dental care and eye care. The coverage can range from a few hundred dollars to over $1,000 per year, depending upon the degree of coverage.
Prescription Drugs
- Costs: With provincial health insurance coverage, prescription drugs are not cheap.
- Generic Alternatives: You can also take generic versions of drugs that were once brand names.
Education Costs
If you are preparing to study in Toronto then education costs are going to be high.
Tuition Fees
- Average Annual Tuition for Domestic Students: Depending on the university and programme, it will be from CAD 6,000 to CAD 12,000.
- Average Annual Tuition for International Students: $20,000 - CAD 40,000 (can vary between programme and university).
Books and Supplies
- Textbook Costs: Courses involving specialised textbooks can make textbooks very expensive.
- Secondhand Books: Saving money may take the form of buying second-hand textbooks, or renting them when saving money is a priority.
- Average Annual Cost: CAD$ 1,000 to $2,000 (depending on the programme)
Living Expenses for International Students
Living expenses likely won’t be cheap for international students in Toronto. Here's a breakdown of the key costs:
Accommodation
- On-Campus Housing: International students may find that it’s the lowest-cost housing option available to them.
- Off-Campus Housing: You will also find shared apartments or houses at somewhat lower rates if you prefer to live off-campus.
Food
- Grocery Shopping: Save money on food by planning your meals and visiting your cheap groceries.
- Dining Out: Don’t dine out to excess by limiting to special occasions.
Transportation
- Public Transportation: Get a monthly pass to save money on commuting on public transportation.
- Biking or Walking: For shorter distances to minimise transportation costs, consider biking, or walking.
Tuition
- Tuition Fees: Tuition fees for International students are usually higher than domestic.
- Scholarships and Financial Aid: Find out about scholarships and financial aid to offset the cost of tuition.
Universities in Toronto for International Students
Toronto is home to several world-class universities that attract international students from all over the globe. Some of the most popular universities for international students include:
- University of Toronto
- York University
- Ryerson University
- OCAD University
- University of Guelph
Conclusion
What makes Toronto such a vibrant and dynamic city is its high quality of life, but what makes the cost of living so high? The guide you have just read has given you detailed information regarding all costs you will encounter, housing, transportation, food, utilities, entertainment, health, and education.
For an international student or an immigrant, you need to look closely at your finances and set a budget accordingly. With a bit of research and groundwork, you should be able to know and set the costs of living in Toronto and make the proper decisions for who they work best.
Also, remember that your lifestyle choices and the neighbourhood you choose to live in play a part in determining how much things will cost you. So, if you wish to spend some time in Toronto, by carrying out research on the different options available and making the most of your time in Toronto by budgeting wisely, then you can find ways to cut down your expenses.
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