Canada has so much to offer, just the topography of the country alone is astounding. From coast to coast, there is something for everyone, with the Rockies, waterfalls, beautiful lakes, and captivating metropolitan areas. As one of the largest and most diverse countries in the world, it makes sense that people want to live in Canada. But just how much does it cost to live in the Great White North?

Generally speaking, living in Canada is not that expensive when compared to the rest of the world. Based on Mercer’s 2021 Cost of Living City Ranking, Canada’s top four most expensive cities are as listed below (Mercer, 2021):

• Vancouver – 93
• Toronto – 98
• Calgary – 145
• Ottawa – 156

To put these rankings into perspective, Wise has calculated the general living expenses in Toronto and Montreal for one person. For a month in Toronto without rent, it costs roughly $1,242.83 and $1,049.19 in Montreal (Lončar, 2021). For Canadians, general living expenses are relatively low, however real-estate and rent prices are fairly high and have not been included in these calculations.

Our team at CondoDork has calculated the average price per square foot for condos in cities across the country. As of 2021 they are as follows: Vancouver $1090/sqft, Toronto $923/sqft, Ottawa $516/sqft, and Calgary $353/sqft. With real estate prices currently very high, depending on which city you live in or plan to, the cost of living will vary substantially. Vancouver and Toronto have much pricier real estate markets, which might sway some people to purchase homes in other Canadian cities.

No matter what city you live in, Canada is a wonderful place. To get the best experience be sure to do your research. For some people it comes down to the housing situation. Either live in Toronto or Vancouver, two amazing and busy cities but with expensive living costs, or in a smaller city with a more extravagant lifestyle. 

Lončar, Z. (2021, January 21). Cost of living in Canada: Your guide. Wise. https://wise.com/gb/blog/cost-of-living-in-canada. 

Mercer. (2021). Mercer 2021 Cost of Living City Ranking. mercer.com. https://www.mercer.com/content/dam/mercer/attachments/private/gl-2021-cost-of-living-city-ranking-mercer.pdf.