Cost of Living in Canada: Everything You Need to Know

Moving to Canada is a dream for many, but before taking that big step, it's crucial to understand the cost of living in Canada and how to plan accordingly. From big cities to more remote regions, the costs can vary significantly.

In this article, we’ll break down the main factors that influence the cost of living and how you can financially prepare to live comfortably in the country.

Cost of Living in Major Canadian Cities

The cost of living in Canada varies greatly depending on the city you choose to live in. Larger cities like Vancouver and Toronto tend to be more expensive compared to smaller cities or less populated areas.

For instance, the cost of living in Vancouver is known to be one of the highest in the country, mainly due to the high rental prices.

Vancouver also has considerable transportation and food costs but offers an exceptional quality of life, with many outdoor leisure options and a strong economy.
 

Similarly, the cost of living in Toronto is among the highest, with rents easily exceeding CAD 2,000 per month for a one-bedroom apartment in the city center. However, Toronto is the financial hub of Canada, offering numerous job opportunities for both immigrants and locals. 
 

If your goal is to save, you might want to consider cities with a lower cost of living in Canada, such as Calgary, Edmonton, and Winnipeg. In these cities, rent and transportation and food costs are significantly lower.

Minimum Wage in Canada: How Much Do You Need to Live Comfortably?

The minimum wage in Canada varies by province or territory. To help you plan, here are the updated figures based on the official data from the Canadian government:
 

On average, the minimum wage in Canada ranges from CAD 15 to CAD 19 per hour, depending on the province. For example, Ontario’s minimum wage is CAD 17.20, while British Columbia offers CAD 17.40.

These amounts are usually sufficient to cover basic living expenses in smaller cities, but it can be more challenging in major centers like Vancouver and Toronto, where the cost of living is higher.

It’s worth noting that the Canadian minimum wage is periodically adjusted, so it’s always good to stay updated. If you’re thinking about working in Canada, it’s important to understand the differences across regions and how that may impact your financial planning.
 

Main Monthly Expenses in Canada

When we talk about monthly costs, the main items you should consider are:
 

• Rent: Depending on the city, rent can vary significantly. In Vancouver, for example, the average price for a one-bedroom apartment in the city center is around CAD 2,300. In Toronto, that amount is approximately CAD 2,200. However, cities like Calgary and Winnipeg offer more affordable rents, ranging between CAD 1,200 and CAD 1,500 per month.
   
• Transportation: Most Canadian cities have efficient public transportation systems. A monthly pass costs between CAD 90 and CAD 156, depending on the city.
   
• Groceries: Food costs also vary. Generally, you can expect to spend between CAD 300 and CAD 500 per month, depending on your lifestyle and eating habits. Restaurants are pricier, with meals costing on average CAD 20 to CAD 30 per person.
   
• Education: If you’re considering studying in Canada, it’s important to also factor in the cost to study in Canada, which varies by institution and program.
   

How to Save on the Cost of Living in Canada

Now that you have an idea of the main expenses, here are some tips on how to save on your day-to-day costs:

• Choose to live further from the city center: In major cities like Toronto and Vancouver, living in the suburbs can be a great alternative to reduce your rent costs.
   
• Use public transportation: Canada’s public transportation system is efficient and reliable. Using it can help you save on transportation costs, avoiding the high costs of owning and maintaining a car.
   
• Plan your grocery shopping: Grocery prices can vary greatly. Shopping at local markets and taking advantage of promotions can help you save money.

How Much Does It Cost to Immigrate to Canada?

If you’re considering not just visiting, but also immigrating to Canada, it’s essential to factor in the costs involved in the immigration process. In addition to visa and documentation fees, you should plan to cover your settlement costs, such as renting an apartment, buying furniture, and other essential items.

For more details on how much it costs to immigrate to Canada, check out our complete article and learn how to financially prepare for this big step.

Wrapping Up

As we’ve seen, the cost of living in Canada can vary greatly depending on the city and your lifestyle. However, with proper planning, it’s possible to live comfortably in the country. Remember to consider all the expenses involved and to plan your finances before making the move.

If you’re thinking about immigrating or studying in Canada, count on e-Visa Immigration to assist you at every stage of this process.

Talk to our licensed consultants and discover how we can help make your dream a reality! Contact us now!