Asked by: Idelisa Nowakowsk
business and finance housing market

Why is living in Toronto so expensive?

Last Updated: 2nd April, 2020

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There is a lot of very expensive real estate inToronto because people can afford to buy it. PropertyLocation – Rent is going to be more expensive inToronto then it is in smaller cities like London, Ontariosimply because of the prime location and everything the city has tooffer.

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Thereof, what 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.

Additionally, what is considered middle class in Canada? The report defines middle class as 75-to-200 percent of the median income in each nation. For Canada,that means a person living alone would have an income ofabout $29,432 to $78,485, it says.

Subsequently, one may also ask, is it more expensive to live in Canada?

While the average cost for a two-bedroom apartment inCanada is approximately CAN$990 per month, Ontario tends toskew higher. No matter how expensive the Canadiancity, they are all favourable compared to many others around theworld when it comes to quality of life, as this studyreveals.

What is the average salary in Toronto?

About Toronto Salaries The average salary in Toronto, Ontario isC$59,137. The most popular occupations in Toronto areExecutive Assistant, Software Developer, and Project Manager,(Unspecified Type / General) which pay between C$55,803 andC$74,915 per year.

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