Here’s how much it costs to live in Toronto right now

It’s no secret that living in Toronto gets very pricey. The cost of living is on the rise and while it gets expensive, living in Toronto comes with its perks. If you’ve ever wondered exactly how much it will run you, Numbeo has put together a full breakdown of the costs of living in Toronto.

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Rent

According to Numbeo, the average cost of rent for a one-bedroom in the city is $2,576.68 and $2,247.66 a month for a one-bedroom apartment outside of downtown. Along with rent, the breakdown lists the average costs of utilities (electricity, heating, cooling, water and garbage) at $197.17 per month.

Total cost of rent with utilities: $2,773.85 per month.

Restaurants

One thing about Torontonians is we love our restaurants. Numbeo listed the average cost of a “mid-range” restaurant three-course meal for two as $120. If you’re paying for just yourself, cut this cost in half to $60. Take into consideration that these costs don’t include drinks such as alcohol, but they do list the average cost for a domestic beer at $8.05.

Total cost of restaurant dining meal for two: $120 or $60 for one.

Transit

The easiest way to get around in Toronto is transit, and most who live in the city utilize it. The cost of transit according to the TTC, it is $156 for a monthly pass or $3.35 per single trip. If you have a car and plan on getting yourself around the city, gas is listed as costing an average of $1.63 per litre.

Total cost of transit: $156 per month.

Internet & Cellphone

Two things most people living in Toronto have – internet and a cellphone. Numbeo has the average unlimited internet monthly bill at $73.66 and the average cellphone bill with 10GB of data at $62.92.

Total cost for internet and cellphone bills: $135.86

Groceries

While the list doesn’t give a total average cost of groceries, it does show the average cost of popular grocery list items. 1 litre of milk is shown as averaging $3.99, a loaf of white bread as $3.80, white rice as $4.82, a carton of eggs as $4.63 and 1 kg of chicken filets as $17.19.

Total cost of groceries: will vary, but the item breakdown can be found here.

Fitness

Fitness is a big part of some city-goer’s lives. In Toronto, a fitness club membership is listed as averaging $76.72 per month.

Total cost of fitness: $76.72 per month.

Summary

While some of these categories may apply to your costs of living in Toronto and some don’t, Numbeo has provided the approximate average of a single person’s estimated monthly costs at $1,547.01 without rent. If you add in the average cost of rent for a one-bedroom apartment, that would bring the total monthly average for a single person to $4,123.69.

Taking a look at last year’s breakdown, in 2023 the average monthly total for a single person was around $3,942.43 per month, a difference of $181.26 more per month in 2024.

Well, there you have it! The costs of living in Toronto aren’t cheap but it sure can be worth it.