Living in Canada’s most populated province doesn’t come cheap, especially not in its busy cities. Ontario’s minimum wage may be increasing to $15 an hour this January, but it still falls short of what you’d need to get by in cities like Toronto and Ottawa.
In fact, according to new numbers released by Ontario’s Living Wage Network (OLWN) you need far more than $15 an hour just to cover basic expenses in most parts of the province, including the quieter regions outside of the GTA.
The numbers take into the account “weighted average between a family of four, single parent with one child and a single adult,” the OLWN said in a statement.
“These 2021 living wage rates reflect changing demographics in our province and increases in inflation. We believe they accurately reflect the realities of costs in Ontario.”
Their calculations, which were released on Monday, determine that you need to be making $22.08 per hour to afford a basic life in Toronto, the highest by far of any region included on their list.
This isn’t surprising, of course, considering Toronto was just ranked one of the least affordable cities in all of North America. And if you live alone the cost is even higher — an estimated $1,226.66 per month, to be exact, and that’s not including rent. The second-highest living wage is in Halton at $21.75 per hour followed by Peel Region at $19.80.
Surprisingly, Simcoe County’s living wage is higher than other parts of the GTA at $19.05 per hour, compared to Durham Region at $17.80. In Ottawa, the living wage is $18.60.
Among all 23 regions included in the list, the most affordable living wages are in northern Ontario in cities like Sault Ste. Marie at $16.20 and Thunder Bay at $16.30.
Could it be time to ditch the city for good in pursuit of more money in your savings account? You can see OLWN’s full list here and decide for yourself.