Cost of Living in Canada

A gorgeous natural landscape, free universal healthcare, free secondary education, and a kind population. It’s not hard to see why so many people want to move to Canada. But making the decision to move to a new country is no easy feat. There’s much to be considered before making the big move - including the cost of living.

 If you’ve already made the decision to move to Canada, your next step is to figure out the cost to make the move, and how much it will cost once you get there. It’s important to understand how similar or different your finances might be once you’ve made the move.

 This guide will help you figure out what you need to know, so you can settle down once you move.

 

How expensive is Canada in comparison to other countries?

When thinking of moving to a new country, one thing you must consider is the exchange rate. This is especially important if you intend to keep earning in the currency of your home country. How far will money in your home currency go in Canada?

 Here’s how the Canadian dollar compares to other major currencies at the time of writing:

 $1000 = C$1359

  • £1000 = C$1706
  • €1000 = C$1534
  • $1000 AUD = C$945

 

Which major cities are the cheapest and most expensive?

 The cost of living in cities across Canada varies widely, and you’ll want to have an idea of the cost of living when planning to move. Below are the top 5 most expensive and the top 5 least expensive cities in Canada.

 Most expensive cities:

 Toronto

    • Cost of 1 bedroom: $2,240
  • Vancouver
    • Cost of 1 bedroom: $2,026
  • Red Deer
    • Cost of 1 bedroom: $959
  • Halifax
    • Cost of 1 bedroom: $1,286
  • John’s
    • Cost of 1 bedroom: $905

 Cheaper cities:

 Sherbrooke

    • Cost of 1 bedroom: $405
  • Moncton
    • Cost of 1 bedroom: $642
  • Thunder Bay
    • Cost of 1 bedroom: $818
  • Catharines
    • Cost of 1 bedroom: $905
  • Kitchener
    • Cost of 1 bedroom: $957

 

How much does transportation cost in Canada?

 A major expense to consider when making your new budget is transportation. In Canada, the bulk of the population drives themselves to work. However in recent years, the number of persons biking to work has increased.

 It’s also important to consider air travel, as automobiles don’t suffice for some longer trips, especially coast to coast.

  • Gasoline (1 litre / 0.25 gallon) → $1.07
  • Monthly bus/transport pass → $91
  • Bus ticket, single use → $3.15
  • Taxi tariff, 1 hour → $30

 

Finding a job

 After figuring out the cost of living in Canada, and choosing your preferred city to live, the next step is finding a job to cover your new expenses.

 It can be a bit overwhelming finding employment as an immigrant. Canada Hires helps make the journey to finding a job in Canada much easier.

 These are a few of the major expenses you’ll need to consider when making the move to another country. Canada has always been known as a great place to live. Good luck on your move!