Executive Moving Concierge

Cost of Living: Toronto vs. Edmonton - Which City is Right for Your Standard?

A large number of folks like you have a perplexity as a newcomer in Canada “Toronto vs Edmonton – which one to choose?”

Personally, I know how big of a decision this can be.

Toronto and Edmonton are both major players in Canada, each offering a unique blend of opportunities, lifestyle perks, and challenges.

Toronto, located in Ontario, is Canada’s largest city and an economic hub. It’s known for its world-class attractions like the CN Tower, thriving job market, and vibrant cultural scene. On the flip side, Edmonton, Alberta’s capital, is known as the “Festival City,” offering a laid-back vibe with all the perks of a large metropolis—without the high costs.

Toronto vs Edmonton – which one to choose?

Choosing where to live is more than just about cost of living; it’s about what makes the most sense for you.

Anyone can order pizza 🍕 and by the time Toronto’s traffic arrived. Whereas Edmonton is like winning the weather lottery—except instead of cash, you get snow for six months straight.

Housing Costs: Toronto vs Edmonton

Housing is arguably one of the biggest considerations when deciding where to settle. Let’s talk numbers!

Rent Costs

Edmonton offers a significantly lower cost of rent compared to Toronto.

Check the following table for the rent of 1-Bedroom Apartment & 3-Bedroom Apartment –

City

1-Bedroom Apartment (Average Rent)

3-Bedroom Apartment (Average Rent)

Toronto

$2,280

$3,434

Edmonton

$1,125

$1,694

Home Purchase Costs

If you’re thinking about buying, brace yourself:

  • Toronto: The average home price in Toronto as of August 2023 is a whopping $1,141,400!
  • Edmonton: Meanwhile, in Edmonton, the average home price is a more affordable $374,100.

In my opinion, if you’re looking for a long-term investment and affordability, Edmonton’s real estate market has a lot to offer compared to Toronto’s highly inflated prices.

Executive Moving Pro Tip:

Check out areas like Scarborough or Oshawa, where the average home price is lower than in the city center. In Edmonton, neighborhoods like Capilano and Parkallen offer both affordability and great amenities.

Read Cost of living in Edmonton for more details.

Transportation: Commutes and Costs

Public Transportation

City

Public Transit System

Monthly Pass Cost

Toronto

Toronto Transit Commission (TTC)

$156

Edmonton

Edmonton Transit Service (ETS)

$100

Edmonton vs Toronto in this category? Edmonton’s lower transit costs make commuting more wallet-friendly.

Commute Times

City

Average Commute Time

Toronto

45 minutes

Edmonton

25-30 minutes

In my view, if commuting is a significant factor for you, living in Edmonton offers many parks and shorter commutes, which could save you both time and money.

Grocery and Food Expenses

Grocery Costs

Groceries are generally more expensive in Toronto. Let’s break it down:

Groceries

Toronto

Edmonton

Milk (1 gallon)

$14.39

$8.99

Eggs (12)

$4.55

$4.15

Bread (1 lb)

$3.25

$2.88

Chicken fillets (1 lb)

$7.75

$6.95

As you can see, basic grocery prices are much more affordable in Edmonton.

Dining Out

  • Toronto: Expect to pay around $55 for a meal at a mid-range restaurant.
  • Edmonton: Dining out in Edmonton is more affordable, with a similar meal costing about $50.

Utilities and Communication

Monthly Utility Bills

  • Toronto: Utilities like electricity, heating, and cooling cost around $208.67 per month.
  • Edmonton: Because of Edmonton’s colder winters, heating costs can drive up utilities, with an average monthly bill of $294.97.

If you’re planning to move to Edmonton, be prepared for higher winter utility bills—especially with all that snow from December onward! ❄️

 

Executive Moving Note: Don’t forget, Edmonton’s colder climate means you’ll likely be running your heating longer during those cold and snowy months. But hey, at least you get to enjoy skiing and snowboarding, right? ⛷️

Healthcare and Insurance

Public Healthcare

Both Ontario and Alberta offer public healthcare, but there’s a significant difference in accessibility and wait times.

City

Healthcare Infrastructure

Key Institutions

Wait Times and Accessibility

Toronto

Robust healthcare system with top hospitals and medical research institutions. High concentration of providers and specialists.

University Health Network, Mount Sinai Hospital, SickKids Hospital

Longer wait times due to high demand, especially in emergency rooms and for specialized treatments.

Edmonton

Accessible healthcare with key institutions and a strong connection to medical research. Comprehensive mental health and rural outreach services.

University of Alberta Hospital, Sturgeon Community Hospital, Royal Alexandra Hospital

Shorter wait times in comparison to Toronto, easier access to general practitioners and specialists due to lower population density.

Insurance

While public healthcare is available, many opt for private insurance to cover extras. Costs for private insurance tend to be lower in Alberta, which may be a consideration for those moving to Edmonton.

Insurance Type

Toronto

Edmonton

Healthcare Insurance

OHIP covers basic services, private insurance covers dental, vision, drugs. Costs: $80 to $200/month.

AHS covers basic services, private insurance for dental, vision, drugs. Costs: $70 to $180/month.

Auto Insurance

Higher premiums due to traffic congestion and accidents. Average annual cost: $1,500 to $2,400.

Lower premiums due to less traffic. Average annual cost: $1,200 to $1,800.

Home Insurance

Higher premiums due to expensive real estate. Average annual cost: $800 to $1,500 (homeowners), $200 to $300 (renters).

Lower premiums. Average annual cost: $600 to $1,200 (homeowners), $180 to $280 (renters).

Education and Childcare

Childcare Costs

Both cities boast strong public school systems, but Edmonton tends to have more affordable private school options compared to Toronto.

Education

Childcare in Toronto can be a financial burden. On average, monthly daycare costs in Toronto are about $1,500 compared to $1,100 in Edmonton.

Quality of Life Factors

Climate

  • Toronto: Mild winters (but still cold) and hot summers. You’ll get a taste of every season here.
  • Edmonton: Long, cold winters and short summers, but Edmonton offers tons of outdoor activities like skiing and snowboarding to keep you entertained during the colder months.

Entertainment and Leisure

  • Toronto: The city is renowned for its vibrant cultural scene, live theater, museums, and proximity to Niagara Falls.
  • Edmonton: Known as the “Festival City,” Edmonton offers tons of activities, including the famous West Edmonton Mall and Jasper National Park.

Provincial Taxes

  • Toronto (Ontario): A provincial sales tax of 13% (😢😞😭) is applied to most goods and services.
  • Edmonton (Alberta): No provincial sales tax in Alberta! (😀🙂🤭) This can save you a lot on day-to-day purchases.

More about Moving to Edmonton:

Conclusion

When it comes to the cost of living, Edmonton clearly wins out for affordability, but Toronto has its own appeal with its cultural diversity and thriving job market. The question is: Which city is right for your standard of living?

If you prefer a lower cost of living and a laid-back lifestyle with quick access to nature, Edmonton is your place. But if you want the hustle and bustle of city life in Toronto, with endless job opportunities and cultural attractions, then Toronto is calling your name.

So, what’s your pick? Toronto vs Edmonton—which city is right for you? Let me know in the comments!

See you around!

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Frequently Asked Questions

What is the cost of living in Edmonton compared to Toronto?

The cost of living in Edmonton is generally lower than in Toronto. Toronto, as a major city in Canada, has higher living expenses, particularly in housing and public transit. Edmonton, the capital of Alberta, offers more affordable living costs, making it an attractive option for many.

How do the real estate markets in Edmonton and Toronto compare?

The real estate market in Toronto is much more competitive and expensive compared to Edmonton. The average price of a house in Toronto is significantly higher due to the city’s demand and population density. In contrast, Edmonton’s market offers more affordable options with a variety of housing choices.

What are the employment opportunities like in Edmonton vs Toronto?

Toronto offers a broader range of employment opportunities, especially in sectors like finance, technology, and arts. It is renowned as a business hub in Canada. Edmonton is also notable for its opportunities in sectors such as oil and gas, healthcare, and education, reflecting its role as the capital city of Alberta.

Is public transit reliable in both cities?

Both cities offer reliable public transit systems. Toronto boasts an extensive network including subways, buses, and streetcars across the Greater Toronto Area. Edmonton also has a dependable system with its Light Rail Transit and bus services providing connectivity across the city of Edmonton.

What cultural attractions do Toronto and Edmonton provide?

Toronto is renowned for its world-class cultural attractions including the Royal Ontario Museum, Art Gallery of Ontario, and its vibrant theatre district. Edmonton is also rich in culture, featuring attractions like the Art Gallery of Alberta and events such as the Folk Music Festival.

How does the climate in Edmonton compare to Toronto?

Edmonton has a colder climate with long winter months and relatively short summer months. Toronto, located near Lake Ontario, enjoys milder winters and warm, humid summers. Both cities experience four distinct seasons, with spring and fall being pleasant times to visit.

Which city is better for raising a family, Edmonton or Toronto?

Deciding which city is better for raising a family depends on individual preferences. Edmonton offers more spacious living and affordable housing, which can be ideal for families. Toronto is also attractive for families seeking diverse educational and cultural experiences, despite the higher cost of living.

What are some unique outdoor experiences in both cities?

Edmonton is known for its River Valley, an extensive network of parks and trails along the North Saskatchewan River. It provides great opportunities for outdoor activities. Toronto also offers outdoor experiences with its waterfront along Lake Ontario and proximity to attractions like Niagara Falls.

How do healthcare services compare in Edmonton vs Toronto?

Both Edmonton and Toronto provide quality healthcare services. Edmonton, being the capital of Alberta, has access to Alberta Health’s comprehensive services. Toronto, as a major city, offers world-class healthcare facilities and specialists across various fields.

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