If you are one of the many who are considering residing in Canada, you will need to take its cost of living into consideration. Before moving, it is important that you know more about how much it costs to move and how much you need a month.
The official currency in Canada is a Canadian dollar (C$). Some exchange rates are:
- USD$1000 = C$1291
- GBP£1000 = C$1744
- EUR€1000 = C$1553
The cost of living in Canada depends on where you reside in the country and the lifestyle you lead. Some of the most expensive cities in Canada include Vancouver, Toronto, Montreal, Calgary and Ottawa. On the other end of the spectrum, Quebec and Winnipeg are some of the more affordable cities to live in. The national average cost of living in Canada for a single person is estimated to be C$2,730 a month.
Read on to find out more about how much it may cost you to live in Canada.
As mentioned, the average cost of rent in Canada differs depending on where you reside. On average, a one-bedroom apartment in the city centre can cost C$1,200 a month. Living in more expensive cities will result in your cost of rent to be higher than average, while living in the city centre can cost more.
The average rent prices for some cities in Canada include:
- Toronto = C$2,300
- Vancouver = C$2,000
- Ottawa = C$1,200
- Hamilton = C$1,100
- Quebec = C$900
Buying a house is also an option for expats living in Canada. While house prices vary across Canada, an average cost of buying a house is C$500,000.
Utility costs also vary by city. On average, you can anticipate spending up to C$200 for your utilities monthly.
Cars are the main way of transport around Canada. That being said, there are also many who use bikes as a way to get to work.
In major cities, it is common for people to use public transport to get around. A single use bus ticket can cost C$3 while a monthly transport pass can cost around C$150. A monthly transport pass can be affordable if you intend to use public transport daily.
Food prices vary depending on which city you reside in. overall, food prices are slightly more expensive than average. This is due to import costs of these products. Some average prices of groceries include:
- Milk – C$3
- Bread – C$3
- Chicken breast – C$20
- Eggs – C$4
Those living in the northwest of Canada pay the most for their food products, as there are no roads and out of the territories. Thus, food needs to be shipped by plane or ship.
The cost of dining out in Canada depends on which restaurant you choose. There are various restaurants in Canada and of various price points. An inexpensive meal for two can cost an average of C$20.
Canada offers a universal healthcare system paid by taxpayers for all permanent residents and citizens. If you are a new expat in Canada, you can consider getting a private health insurance first.
The cost of living in Canada can defer, depending on where you decide to reside in. Staying in the country on a budget is definitely possible, if you pick more budget friendly options.
While the cost of living can be seen to be higher than average, Canada is still known to be a great place to live.