A Glance: Clean surroundings, cosmopolitan ambiance, wonderful recreational facilities and cultural amenities, Toronto has everything to offer! In addition, Toronto is one of the top financial hubs of the world and has a high cost of living in Toronto. But when compared to other developed countries, it is one of the least expensive cities to live on this globe.
Different People, Different Choices: People vary considerably in their individual tastes. Their choice of accommodation and other utilities may ultimately decide their cost of living in Toronto. Also, different people have different perceptions. For instance, a person belonging to a middle class family may look at Toronto as a place, which is decked with higher cost of living in Toronto. He may judge the place on the basis of his own financial conditions. Same goes with a person who is rich and prosperous. He might label Toronto as a moderate place to live in. But it is not the ‘Perceptions’ that decide about a particular aspect, it is the ‘Facts’, which state the reality!
Facts: According to a survey on the Internet, an average cup of coffee costs $3.35 in a particular metropolitan city, while it costs only $1.85 in Toronto.
In a comparison with the same city, figures say that the average rent for a two-bedroom apartment is $4,275, while it is $1,658 in Toronto. That says it all about the “Cost of Living in Toronto.”
Accommodation, Goods and Services: Housing costs in the Toronto region are competitive and much economical when compared with other major economic centers worldwide. In addition, expenses for goods and services are moderate in Toronto which makes it a preferred choice to live in when you consider the cost of living in Toronto.
Transportation: The Toronto Transit Commission (TTC) provides public transit within the city. Subway systems, buses and street cars form the backbone of the transportation in Toronto. In addition, an extensive rail and bus transit system is highly popular in the Greater Toronto Area. The expenses incurred on the public transportation are pretty economical. On the other hand, owing a private vehicle may affect your cost-of-living, depending upon your regular income and total bank-balance.
Education: Students vary in their choices and preference levels. Toronto is home to a number of post-secondary academic institutions, which are considered as some of the most applauded educational centers at present. In addition, here is a rough estimate of what might cost a student to reside in Toronto. The expenses are estimated for 12 months and exclude housing and tuition.
- Clothing: $600.00 – $750.00 (Depending upon your choice of brand and preferences)
- Food: $3,000.00 – $4,000.00
- Books and instruments : $700.00 – $800.00 (May vary with the course opted and your specialization)
- Miscellaneous (transportation, postage, stationery, pharmacy, supplies, etc.): $3,000.00 – $4,000.00
- Health Insurance for Int’l. student: $500.00 – $600.00
- Local Transportation (if off campus): $1,100.00 – $1, 500.00
- Supplemental Insurance: $130.00
The crux of the matter is that Toronto, in general, is a decent and one of the most moderate places to live, study and work!