Comparing Calgary vs Toronto Cost of Living (2024)

Canada is a diverse and vast country with significant differences between its provinces and cities. One such comparison is between Toronto, the capital of Ontario, and Calgary, the largest city in Alberta. These two cities, arguably two of the most popular when speaking of Canada, offer distinct lifestyles and differences in the cost of living.

In this article, we will delve into the breakdown of the cost of living in Calgary versus Toronto, exploring various factors such as housing, transportation, food, healthcare, education, and more. By understanding these differences, you can make informed decisions about which city best suits your needs and financial circumstances.

Calgary vs. Toronto Cost Of Living

When comparing the cost of living between Calgary and Toronto, it’s important to consider various factors.

The cost of living refers to the amount of money needed to sustain a certain standard of living, including expenses such as housing, transportation, groceries, utilities, healthcare, and more. Both Calgary and Toronto are considered to be among the most expensive cities in Canada, but there are significant differences that can impact your budget and quality of life.

Let’s explore the specific monthly expenses in each city, and how they vary.

Rent and Housing

As expected, the housing and rental markets are major factors to consider when comparing the cost of living in Calgary and Toronto. These housing markets have a significant impact on individuals' budgets and overall expenses, which often makes it the deciding factor when choosing between the two. Understanding the differences in average housing prices and rental rates can provide valuable insights into the affordability of each city.

Comparing average housing prices

When it comes to housing prices, Calgary offers a more affordable market compared to Toronto. According to data gathered by Numbeo, the average home price in Calgary is significantly lower than in Toronto, making it the more appealing location of the two in this regard. This difference can be attributed to various factors, including the demand and supply dynamics of each city's real estate market and ultimately, individuals looking to purchase a home may find more affordable options in Calgary compared to Toronto.

Transportation Expenses

Transportation expenses also play a significant role in the overall cost of living, which can play its role in swaying people between the two cities. Whether individuals rely on public transit or own a car, understanding the differences in public transportation costs between Calgary and Toronto is crucial for managing expenses effectively and making the correct choice between the two!

Public transit systems in both cities

Thankfully, both Calgary and Toronto have excellent public transit systems that provide convenient transportation options for residents. Calgary Transit operates buses and a light rail system known as the CTrain, while the Toronto Transit Commission (TTC) operates a comprehensive network of buses, streetcars, and subways. Monthly passes for public transit can vary between the two cities, with Calgary offering lower prices compared to Toronto.

Food and Grocery Costs

As expected, another important factor to consider is Food and grocery expenses. The prices of groceries and dining out can vary between Calgary and Toronto, making it important to consider these factors when comparing the overall living costs.

Average grocery bills in Calgary and Toronto

When it comes to groceries, Calgary generally offers more affordable options compared to Toronto. According to consumer price index data from Statistics Canada, consumer prices for food items in Calgary are slightly lower compared to Toronto. Individuals can expect to save on their grocery bills by living in Calgary.

Industries & Career Opportunities

Conclusion

All in all, understanding the cost of living differences between Calgary and Toronto can help you make informed decisions about where to live based on your financial situation and lifestyle preferences. From housing and transportation to food and healthcare expenses, each city offers its unique advantages and challenges. By comparing these factors, you can determine which city aligns best with your budget and needs. Remember, every individual's circumstances are different, so it's essential to consider all aspects before making a decision!