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Living in Montreal vs. Toronto: Cost of Living Comparison for Future Residents

When it comes to choosing between Montreal and Toronto, the decision can feel as difficult as picking between a warm cup of coffee on a snowy day or an ice-cold lemonade on a sunny one. But don’t worry, I’ve got you covered! Here’s a deep dive into the cost of living between these two vibrant cities, so you’ll have all the facts—and a few laughs—before making your choice.

In Montreal, they speak French. In Toronto, they speak… the Queen’s English, but add in a dash of hustle. Montreal gives you that European flair without the 7-hour flight, while Toronto gives you the perfect excuse to say, “Sorry, I’m too busy.” 😄

Now that we’ve set the tone, let’s break down the numbers and differences in the cost of living between Montreal and Toronto—whether you’re looking for housing, employment, or just a solid slice of poutine vs. a world-class dining experience.

Cost of Living Comparison

Both cities are beautiful, but when it comes to living expenses, there are significant differences between the cost of life in Montreal versus Toronto. Toronto is Canada’s financial hub, but that means higher living expenses, while Montreal has a European charm at a slightly more affordable rate.

Housing Costs

The cost of housing is one of the major deciding factors when it comes to living in either city.

Average Rent Prices:
In Montreal, rent prices are generally more affordable than in Toronto. You can expect to pay an average of $1,221.81 for a one-bedroom apartment outside the city center. In contrast, Toronto’s rent is significantly higher, with a one-bedroom apartment costing around $2,280.60 outside the city center.

Home Buying Costs:
Montreal offers more affordable home prices, averaging around $521,600, while Toronto’s real estate market continues to be one of the most expensive in Canada, with an average home price sitting at $1,141,400.

Types of Housing Available:
Montreal offers a mix of historic triplexes, cozy apartments, and townhouses, especially in popular neighborhoods like Plateau and Westmount.

In Toronto, you’ll see more modern high-rise condos, detached homes, and apartment buildings, particularly in trendy areas like The Annex and Leslieville.

Pro tip: If you’re looking for more affordability, Montreal tends to be the better option for both renting and buying, with a greater variety of housing options at lower prices.

Utilities and Internet Costs

It’s important to consider utilities when calculating living costs. Utilities in Montreal are usually cheaper than in Toronto, but this can vary depending on seasonal consumption, especially with the heating needed for Montreal’s colder winters.

Average Monthly Costs:

  • Montreal: $110.21 for electricity, heating, and water.
  • Toronto: $208.67, almost double that of Montreal. In addition, Internet costs are higher in Toronto ($76.09) compared to Montreal ($59.54 for 60 Mbps service).

Groceries and Daily Expenses

Food is life, right? Whether you’re buying a gallon of milk or grabbing a coffee on the go, prices vary between Montreal and Toronto.

Grocery Comparison:

  • Milk (1 gallon): $10.86 in Montreal, $14.39 in Toronto.
  • Eggs (12): $4.28 in Montreal, $4.55 in Toronto.
  • Apples (1 lb): $1.98 in Montreal, $2.53 in Toronto.

Overall, grocery costs for a single person come to about $330.56/month in Montreal and $354.36/month in Toronto.

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Transportation Costs

Montreal and Toronto both have excellent public transportation systems, but the cost and convenience can differ.

Public Transit:
Montreal’s STM offers monthly passes for $97.00, while in Toronto, the TTC charges a hefty $156.00 for its monthly pass.

Single tickets also differ, with Montreal’s costing $3.75 and Toronto’s at $3.35.

Car Ownership:
In both cities, car ownership comes with costs like insurance, gas, and parking. But Toronto tends to have higher gas prices and parking fees, making it a pricier option for car owners.

Pro tip: Looking to save some $? Public transport in Montreal is the more wallet-friendly choice.

Job Market and Employment Opportunities

Key Industries

  • Montreal is known for its booming aerospace and technology sectors, along with arts and culture.
  • Toronto, being the financial capital of Canada, leads in finance, healthcare, and media industries.

Job Availability and Growth

Toronto typically has more jobs due to its larger economy, but Montreal shines in industries like AI, with companies like Facebook AI Research setting up shop there.

Unemployment Rates:

Montreal hovers around 5.5%, while Toronto’s unemployment rate is closer to 6%, but the difference is marginal.

 

Average Salaries

  • In Montreal, a Software Engineer earns about $102,398, while in Toronto, the same role can pull in $109,990.
  • Data Analysts in Montreal earn $92,040, compared to $100,630 in Toronto.

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Quality of Life

What about the things that make life fun—the climate, culture, and daily activities?

Climate and Weather

Montreal winters are harsh, with more snow and freezing temperatures compared to Toronto’s milder winters. But hey, if you love snow, Montreal is your place!

Toronto, however, is more temperate but gets its fair share of icy winds off Lake Ontario.

Education and Schools

For families or students, education can be a big factor in choosing between these two cities.

Public vs. Private Schools

Both cities offer public and private school options, but Montreal has a stronger bilingual education system, with many students opting for French immersion programs.

Higher Education

Montreal is home to McGill University and Concordia, while Toronto boasts the prestigious University of Toronto and Ryerson University. Tuition costs tend to be lower in Montreal for both local and international students.

Taxes and Financial Considerations

One major difference between Montreal and Toronto is the tax system.

Provincial Income Taxes:
Quebec has higher tax rates, with a top bracket of 25.75%, compared to Ontario’s top rate of 13.16%.

Sales Tax:

Montreal’s total sales tax comes to 14.975%, while in Toronto, it’s 13%.

Food and Culinary Scene

Let’s talk food—because who doesn’t love that?

Montreal is famous for its bagels, poutine, and smoked meat, while Toronto’s food scene is incredibly diverse with everything from Chinatown to Little Italy.

Conclusion

From my perspective, both Montreal and Toronto offer unique lifestyles, and it ultimately depends on what you’re looking for.

Toronto is more fast-paced and cosmopolitan, but you’ll need a bigger wallet to survive there. Montreal, on the other hand, offers a more relaxed, European feel and won’t break the bank.

Whether you go for the poutine in Montreal or the skyscrapers in Toronto, both cities are fantastic places to live. The key is finding which one fits your lifestyle and your budget.

Until next time! Catch you later! 🖖 

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Frequently Asked Questions

What are the main differences in the cost of living in Montreal vs. Toronto?

Executive Moving Concierge: The cost of living in Montreal is generally lower than in Toronto. Toronto, being the largest city in Canada, tends to have higher housing costs and overall expenses. Montreal offers a more affordable lifestyle, especially in terms of rent and everyday expenses.

Is it cheaper to live in Montreal or Toronto?

Executive Moving Concierge: It is generally cheaper to live in Montreal. The cost of living in Montreal, including rent, groceries, and entertainment, is more affordable than in Toronto. This makes Montreal a great place to live for those looking to save money.

How does the average salary in Montreal compare to the salary in Toronto?

Executive Moving Concierge: The average salary in Toronto is higher than in Montreal. However, this is often balanced out by the higher cost of living in Toronto. While you might earn more in Toronto, your expenses will also be higher compared to living in Montreal.

What are the job opportunities like in Montreal and Toronto?

Executive Moving Concierge: Toronto, being a major city and the financial hub of Canada, offers a wide range of job opportunities, especially in finance, tech, and services. Montreal also has a robust job market, particularly in industries like aerospace, gaming, and technology. Both cities offer ample job opportunities, but the sectors might differ.

Is it better to live in Montreal or Toronto for families?

Executive Moving Concierge: Choosing between Montreal or Toronto for families depends on your priorities. Montreal is more affordable and has a vibrant cultural scene, making it a great place to live with children. Toronto, with its larger size and diverse job market, might offer more opportunities but comes with a higher cost of living.

How does the cost of groceries compare in Montreal and Toronto?

Executive Moving Concierge: The cost of groceries in Montreal tends to be lower than in Toronto. This is part of the overall lower cost of living in Montreal, which includes cheaper housing and daily expenses compared to the higher costs in Toronto.

What is the public transportation like in Montreal and Toronto?

Executive Moving Concierge: Both cities have extensive public transportation systems. Montreal’s metro is known for its efficiency and affordability. Toronto’s public transit, managed by the Toronto Transit Commission (TTC), is extensive but can be more expensive. Both systems provide good coverage, but Montreal’s might be more budget-friendly.

How does moving from Montreal to Toronto affect living expenses?

Executive Moving Concierge: Moving from Montreal to Toronto will generally increase your living expenses. Toronto has a higher cost of living, including more expensive housing and daily expenses. While you might find better job opportunities in Toronto, it’s important to consider the higher costs associated with living in this major city.

Which city is better to live in: Montreal or Toronto?

Executive Moving Concierge: Deciding which city is better to live in depends on personal preferences and priorities. Montreal offers a lower cost of living, rich culture, and vibrant arts scene, making it a great place to live for those seeking affordability and cultural experiences. Toronto, on the other hand, provides more job opportunities, a larger international community, and a bustling urban lifestyle, but with a higher cost of living. Both cities have their unique advantages.

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