Cost of Living in Canada: An Expat's Financial Guide

TL;DR: Moving to Canada requires careful financial planning. Overall, the cost of living in Canada is slightly higher than in the UK. For example, monthly rent for a one-bedroom city apartment averages around £963.33 in Canada, compared to £1,004.31 in the wider UK, though London is significantly more expensive. Toronto is pricier than Montreal. However, average salaries in Canada are generally higher than in the UK, making some expenses more manageable for those earning a local income.

Imagine planning your big move to a new country like Canada, only to realize you haven’t fully budgeted for everyday life, or for keeping ties with your home country. Understanding the actual cost of living in Canada is vital, whether you’re staying for a short time or moving to Canada for good. This guide will walk you through the key expenses, comparing them often to the UK, to help you prepare your finances for an expat life without unexpected fees.

The official money used in Canada is the Canadian dollar. People often call these dollars “loonies.” You’ll see this currency written as Can$ or C$.

It is important to manage your money carefully when moving internationally. When you send money across borders, you might face hidden fees. These can include extra costs for currency exchange, poor exchange rates, and other charges that reduce the amount you receive. To save money when you move to Canada, look for services that offer clear and low fees, along with fair exchange rates. This ensures you make smart choices when converting money between different currencies. Using a multi-currency account or a card that works in many countries, including both Canada and your home country, can make it easier to handle your finances across nations.

How does the cost of living in Canada compare to the UK?

In general, it costs a little more to live in Canada than in the UK, but this can change depending on how you look at the numbers. Current estimates suggest that the cost of living in Canada is about C$2,053 per month for one person without rent, according to World Population Review.

The table below shows how the basic living expenses Canada compares to the UK:

Comparing basic cost of living	1 bedroom flat in city centre (monthly rent)	Meal for 2 (mid-range restaurant, 3 courses)	Transportation (monthly pass)
London	£2,207.41	£80.00	£200.00
United Kingdom	£1,004.31	£65.00	£77.33
Canada	£963.33	£53.56	£55.70
Toronto	£1,212.02	£64.27	£83.56
Montreal	£939.57	£53.56	£55.97

As you can see, a one-bedroom apartment in the city center costs around £2,207.41 per month in London Numbeo, but only about £1,004.31 across the wider United Kingdom Numbeo. In Canada, that same type of flat averages about £963.33 per month Numbeo. When you compare the cost of living Canada vs UK outside of London, Canada can often be a bit cheaper for things like rent and transportation. Knowing the best ways to pay in a new country can also help save money; for example, understanding the best options for cash vs card in Italy can give you an idea of how payment methods vary abroad.

What are the major cities in Canada and their costs?

Canada’s capital is Ottawa, a lively city known for its family-friendly feel, though it’s not the country’s biggest or busiest place. Toronto and Montreal are the largest and most populated cities in Canada.

Toronto and Montreal: Key differences

Toronto is famous for its amazing food, classic big-city vibe, and a growing economy. Montreal, on the other hand, offers a rich culture with a European feel, thanks to its French roots. Montreal is usually less expensive than Toronto. Both cities offer great chances for people looking to move there. For more tips on getting ready for a big move, check out our moving abroad checklist.

What are general living expenses like in Canada?

General living expenses in Canada include costs for food, utilities, and other daily needs. These costs can vary significantly between cities.

Toronto living expenses

Here are the typical monthly living costs for Toronto, not including rent:

• Average cost for 1 person, per month: £787.10
• Average cost for a 4-person family, per month: £2,913.90
• Basic utilities for an 85m² apartment: £92.85

Montreal living expenses

Here are the typical monthly living costs for Montreal, not including rent:

• Average cost for 1 person, per month: £700.90
• Average cost for a 4-person family, per month: £2,626.70
• Basic utilities for an 85m² apartment: £58.88

You can see that cost of living Montreal is generally lower than the cost of living Toronto, especially for utilities.

What are the average salaries in Canada?

On average, average salaries Canada are higher than those in the UK. They are generally higher than in most big European countries too. How much you earn depends on the job and the city, but here are some typical yearly salaries:

Salary averages for Canada	Average Salary (C$)
Human Resources Manager	C$80,719
Secretary	C$40,670
Marketing Executive	C$59,068
Family Doctor	C$200,079
Middle School Teacher	C$62,510
Waiter	C$24,000

As the table shows, a Human Resources Manager can expect to earn around C$80,719 per year, while a Family Doctor’s salary can be as high as C$200,079 annually Payscale. These figures show the potential for a strong income, which can help offset the living expenses Canada.

How expensive is housing and accommodation in Canada?

Housing costs Canada for rent are quite reasonable when compared to the UK. Below are some examples for Toronto and Montreal.

Rental cost in Toronto

Here are the average monthly rental costs in Toronto:

• 1-bedroom flat in the city centre: £1,212.02
• 1-bedroom flat outside the city centre: £1,084.14
• 3-bedroom flat in the city centre: £2,038.23
• 3-bedroom flat outside the city centre: £1,626.66

Rental cost in Montreal

Here are the average monthly rental costs in Montreal:

• 1-bedroom flat in the city centre: £939.57
• 1-bedroom flat outside the city centre: £739.56
• 3-bedroom flat in the city centre: £1,674.40
• 3-bedroom flat outside the city centre: £1,231.20

As shown, rent for a one-bedroom apartment in Montreal’s city center is about £939.57, which is notably less than Toronto’s £1,212.02. You might also consider buying property instead of renting in Canada. For similar guidance on buying property as an expat, you can look at a guide to getting a mortgage in Italy.

What about healthcare and dental costs in Canada?

In Canada, healthcare is free for citizens and for international residents who live there permanently. This system is paid for through taxes. If you are not a citizen or a permanent resident, you will need to get private healthcare. The costs for private healthcare can differ greatly AXA Global Healthcare.

Dental costs also vary depending on the treatment you need. A regular dental exam might cost between C$41 and C$139. A root canal can be much more expensive, ranging from C$900 to C$1,579. If you need a tooth extraction, it could cost between C$145 and C$218 on average Real Dental Costs.

How much are travel and transportation costs in Canada?

Moving around Canada can be a bit harder than in the UK. While major cities have good public transport, the network across the whole country is not as connected as you might be used to. This means transportation costs Canada can add up, especially if you plan to travel widely.

Let’s look at the average costs for public transport, taxis, and fuel in Canada:

Transportation prices in Canada	Average cost
Public transport - single ticket	£1.87
Public transport - monthly pass	£55.70
Taxi - 1 km journey (standard)	£1.12
Taxi start (standard)	£2.36
Petrol (1 litre)	£0.88

A monthly public transport pass costs about £55.70, making it a budget-friendly option for daily commutes within cities. For those who drive, petrol is about £0.88 per liter.

What are the study costs in Canada?

Study costs Canada can be a significant part of your budget if you are moving with children or planning to study yourself. Here are some average yearly costs:

• Public school for a child: Can cost between $10,000 and $17,000 per year.
• Undergraduate students: The cost goes up to $41,746 per year.
• Postgraduate students: Face costs of $24,028 per year.

These figures do not include extra fees such as accommodation and utilities, which would add to the overall expense Educanada.

How can you save on relocation costs when moving to Canada?

Even though the cost of living in Canada differs from the UK, you will still want to find ways to save money during your move. One key area is managing your money across different currencies. Look for ways to exchange currency with clear pricing so you know exactly what you are paying. This can give you a better financial start in your new country.

To manage your costs when moving to Canada, think about financial tools that let you hold different currencies in one place, including Canadian dollars. Being able to send and receive money internationally and manage many currencies in a single account means you can keep your finances organized, no matter where you move next. Such solutions often come with payment cards that make it easy to pay for things without extra fees when you are abroad, helping you stay connected financially wherever you are. For those wondering what happens to their phone number when they move, understanding what happens to your number when you move abroad is another important step in planning your international life.

Good luck with your new life in Canada!

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