Asked by: Rachele Kratschmarpersonal finance retirement planning
How much money do you need to live comfortably in Toronto?
Last Updated: 28th February, 2020
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Consequently, how much money do you need to make to live comfortably in Toronto?
According to the site's calculations, a single personneeds to make a minimum annual salary of $50,000 beforetaxes in order to live alone in the city.
One may also ask, is Toronto expensive to live in? Life in Toronto: living costs. Living inToronto, particularly anywhere near downtown, can beexpensive. Rents are among the highest in Canada, and otherstandard monthly expenses such as phone plans, groceries, andtransit are not cheap either.
Also know, how much salary do you need to live in Toronto?
Based on the average cost of housing, transportation,groceries, internet bills and more, LowestRates.ca found that asingle Torontonian needs a minimum salary of $49,545 beforetax (or $38,572.68 after taxes) in order to survive in thecity.
What salary do you need to live comfortably?
Income needed to live comfortably (homeowner):$79,378 The income needed to live comfortably in Houstonlast year was $73,437, a $5,941 increase for homeowners and a$14,221 increase for renters. The total annual cost of necessitiesin 2018 was $36,718.