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What is the cost of living in Toronto?

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    cost of living in Toronto

    Moving to Toronto is a dream come true for people of all ages. A great living standard and amazing culture and entertainment scene are just some of the things attracting newcomers. If you never lived in this city, you have plenty of things to look forward to. With around 3 million residents, the capital of Ontario is one of the most popular cities to live in. The city has a reputation for warm and friendly people, and an open-minded community. If you are looking forward to moving here, take a look at the costs of living in Toronto. Before you decide to hire the best residential movers Toronto has to offer, take a look at the following guide. Whether you plan to move for a new job or start a new family, we hope this guide will provide additional information.

    Benefits of living in Toronto

    There are many reasons Toronto is one of the most popular cities to live in Canada. The great healthcare system and high living standards are just some of the reasons you should move here. Toronto is a great place to raise a family – the school system is one of the highest-rated in the world. Also, spending time outside is a dream come true for hikers, bikers, and families with kids. The city’s geographic position is perfect for taking long walks or enjoying a bike ride. Besides being pretty walkable, Toronto offers amazing waterfront views.

    Toronto skyline
    Toronto is a great place to raise a family, but also a city full of job opportunities.

    If you are looking for an urban, open-minded community and a city with a great living standard, Toronto is a perfect place for you. While many photographers use it as an inspiration, young people decide to move here for great education and job opportunities. However, the cost of living in Toronto is not affordable for everyone. Moreover, half of the most expensive cities in Canada are in Ontario, making Toronto one of them. If you plan to move to this beautiful city, consider finding a steady job and housing early on. And, of course, find out more about the cost of living in Toronto.

    Cost of living in Toronto

    Before you decide to rent or buy a home in this city, here are some of the main living costs you should expect:

    • Housing. If you plan to rent an apartment in Toronto, consider hiring a real estate agent. There are some more affordable neighborhoods you could check out, but living here will not be cheap. A rental 3-bedroom apartment can go from C$2.500 to C$4.000, depending on the location. If you plan to buy an apartment outside the city center, you will need to set aside around C$800 per square foot.
    • Groceries and restaurants. Whether you like to cook and prepare your own food, or you prefer to eat out, you will love living in this city. The food is not among the most expensive items on the list when it comes to the cost of living in Toronto. An average meal in an inexpensive restaurant will cost you around C$20, or around C$90 for a meal for two in a mid-range restaurant.
    • Transportation and utilities. If you want to buy a monthly transportation pass in Toronto, you will need to spend C$155. On the other hand, grabbing a cab might cost you more than in other Canadian cities, which is around C$3.2 per mile.
    • Sports and leisure. Living in Toronto has many benefits, and sports and leisure activities are some of them. Luckily, a monthly membership in a gym is not very expensive – it goes from C$40 to C$60 per month.
    • Average income. The cost of living in Toronto is considered high, but this city offers great job opportunities and a steady income. The average salary in the city is around C$4000, which makes living quite comfortable.
    traffic in Toronto
    If you want to buy a monthly transportation pass in Toronto, you will need to spend C$155.

    Moving a business to Toronto

    If you want to start a new page in your life or expand your business, Toronto might be a perfect place for it. This is a city known for growing businesses and a steady economy. So, if you want to rent an office space and move your business here, you are making a smart decision. There are plenty of commercial movers Toronto has to offer. A reliable moving company can help you handle your office inventory, pack it professionally, and transport it to the new office space. Considering the cost of living in Toronto, you should look for offices and moving services ahead of time. After all, business relocation will take some time to plan.

    Things to consider before moving to Toronto

    Moving to Toronto with your family can be an exciting new chapter of your life. However, depending on where you are moving from, living in this city might not be affordable. The cost of living in Toronto is relatively high, but we might say that it pays off. In case you already live in Ontario, you might want to consider hiring some of the best local movers Toronto has to give. 

    waterfront view in Toronto
    Living in Toronto is not affordable for everyone, but it has great and affordable neighborhoods to check out.

    In order to prepare for the moving process and a certain cost of living in Toronto, you should prepare your moving budget in advance. The easiest way to do this is to calculate your moving costs, housing costs, and other expenses related to the moving process. Don’t forget to look for a free moving quote when hiring a moving company. With a good moving plan and reliable moving assistance by your side, you’ll move into your new home in no time!