Is Toronto too expensive for students?

Asked by: Prof. Kelsi Effertz Jr.  |  Last update: November 4, 2023
Score: 4.8/5 (23 votes)

Toronto tops the list of most expensive cities for students in 2023, study shows. Toronto has been named the most expensive city in the nation for students in the most recent Mercer study on the cost of living in Canada, which was published on June 14, 2023.

Is Toronto expensive for students?

On average, the cost of living in Toronto for students lies between CAD 1,674 to CAD 1,931 per month. Rents are among the highest in the country, and other standard living expenses in Toronto such as phone plans, groceries, and public transportation are also a bit expensive. Looking For Accommodation?

Is Canada expensive to live in as a student?

The most costly places to live in Canada include the bigger cities like Vancouver, Toronto, and Calgary. Therefore, an international student has to budget CAD 750 to 2,200 per month or CAD 9,000-26,000 per year for off-campus housing.

Is Toronto a good place for students?

Most notably, Toronto received a perfect score of 100 points in both the healthcare and education categories. Toronto's education institutions are class-leading and internationally recognized for their high standard. There are many reasons why Toronto is a great city for international students to study and live.

Is it too expensive to live in Toronto?

It's a very expensive city to live in. The average rent for a one-bedroom apartment in Toronto is about $1,000 per month (source: CBC News). For that price you can expect to find a nice place on the outskirts of the city or in a remote neighborhood where there isn't much to do.

Monthly Expense as a Student in Toronto, Canada 🇨🇦 How expensive is Toronto for Students

21 related questions found

Can you live off 70K in Toronto?

The average salary in Toronto is $62,050, which is 14% higher than the Canadian average salary of $54,450. A person making $70,000 a year in Toronto makes 12.8% more than the average working person in Toronto and will take home about $52,719.

Is $50,000 enough to live in Toronto?

According to CareerBeacon, the average salary in Toronto is $62,050, whereas the average wage in Canada is $54,450. Moreover, the average cost of living in Toronto is $3,985 per month. So with a $50,000 salary, you're making a net income of roughly $3,290 per month, which would be cutting it close.

Which city is affordable for students in Canada?

Saskatoon is one of the most affordable cities to live in Canada. Students studying here have to pay much less for living expenses.

How is Toronto student life?

Is Toronto good for international students? According to the QS Best Student Cities Ranking 2019, Toronto is the 11th best city to study in for international students. This can be attributed to the high quality of education, comfortable living and affordable rates.

Where do most students live in Canada?

Montreal, Toronto, Vancouver and Ontario are among the best places to study and work in Canada. These best cities in Canada to study also come with part-time job opportunities for international students. Thus, making it an added benefit to living in cities that most international students prefer.

Is Canada or USA cheaper to study?

The USA is known for its higher cost of studies and costlier living costs; however, studying in Canada is comparatively cheaper. However, the costs will differ broadly for both countries, depending on the universities and courses.

Is tuition cheaper in Canada or USA?

The cost of higher education in the United States and Canada varies depending on the institution, program, and location. In general, tuition fees in the United States tend to be higher than in Canada, with private universities and out-of-state public universities being the most expensive.

Is Canada cheaper than USA for international students?

On average, the cost of living in Canada is 13% cheaper than living in the US. Even in some of the largest Canadian cities, cost of living is cheaper than their US counterparts. Canadian tuition is also cheaper in general than US tuition.

Why is Toronto becoming so expensive?

Home prices and rising interest rates are the most obvious factors driving unaffordability in the region, but they don't account for the rising price of things like groceries, gas, public transportation, and just about every basic necessity needed to get by.

Is Toronto cheaper than the US?

According to the website, the cost of living is higher for Americans than for Canadians. The Numbeo Cost of Living Index estimates that consumer prices in Toronto are about 24.05% lower than in New York City, and Toronto's rent price is approximately half the price of renting an apartment in New York.

Is it worth studying in Toronto?

Some of the popular reasons to study in Toronto include job opportunities, world-class education, a blend of city life and scenic beauty, a multicultural society, friendly immigration policies, etc.

Is Canada worth it for international students?

High Standard of Living

Canada offers a higher standard of living than many countries. Features like high-quality education, generous job opportunities, beautiful landscapes, accessible public services, etc., make Canada one of the best countries to live and study.

Is it hard to make friends at University of Toronto?

U of T is the largest university in Canada. The size of the school can be a barrier to making friends. For instance, you might meet somebody in class but never run into them again. It is important to put yourself out there and be proactive in making and maintaining friends.

Is it cheaper to live on campus or off in Canada?

Students planning to study in Canada can choose on-campus as well as off-campus housing for their stay. On-campus accommodations are generally cheaper than off-campus housing. Most of the students opt for on-campus housing to cut down the cost of living in Canada.

Why is Canadian tuition so cheap?

Both colleges and universities in Canada are subsidized by provincial governments so that residents pay less for an education. However, the subsidy provided per student varies per province, so the cost of a university in one province may be different from the costs in another.

What is the most affordable major city in Canada?

Cheapest cities in Canada
  • Regina, Saskatchewan.
  • Quebec City, Quebec.
  • Saskatoon, Saskatchewan.
  • Winnipeg, Manitoba.
  • Red Deer, Alberta.
  • Windsor, Ontario.
  • Fredericton, New Brunswick.
  • Montreal, Quebec.

Is $75000 a good salary in Toronto?

The average salary in Toronto is $62,050, which is 14% higher than the Canadian average salary of $54,450. A person making $75,000 a year in Toronto makes 20.9% more than the average working person in Toronto and will take home about $56,087.

Is $25 an hour good pay in Canada?

In general if you work full time (2000 hours per year) then $25 is a good wage for most cities in Canada. The exception may be locations in the lower main land of Vancouver or possiblly parts of Toronto, where the cost of living is higher than other centres. $25 an hour translates into just over $50,000 a year.