Cost Overview
Canadian costs vary dramatically by city, with Toronto and Vancouver significantly more expensive than other areas. For Americans, the exchange rate provides some relief, but higher taxes often offset this advantage.
As of 2024, the CAD is typically worth 0.73-0.75 USD. When earning in CAD but comparing to US prices, remember your Canadian dollars buy less in the US. When spending USD savings in Canada, you get ~25-30% more purchasing power.
Quick Comparison to US Cities
| Canadian City | Comparable US City | Cost Difference |
|---|---|---|
| Toronto | Chicago / Boston | Similar to slightly higher |
| Vancouver | Seattle / San Francisco | Housing comparable, other costs lower |
| Montreal | Philadelphia | 10-15% lower |
| Calgary | Denver | Similar |
| Ottawa | Washington DC suburbs | 15-20% lower |
Housing Costs
Housing is the largest expense and varies enormously by location. Toronto and Vancouver are among North America's most expensive markets.
Rental Costs (1-Bedroom Apartment)
| City | Downtown | Outside Center |
|---|---|---|
| Toronto | $2,400-2,800 | $1,900-2,300 |
| Vancouver | $2,500-3,000 | $2,000-2,400 |
| Montreal | $1,600-2,000 | $1,200-1,600 |
| Calgary | $1,700-2,100 | $1,400-1,700 |
| Ottawa | $1,800-2,200 | $1,500-1,800 |
| Edmonton | $1,400-1,700 | $1,100-1,400 |
| Halifax | $1,800-2,200 | $1,400-1,700 |
Home Purchase Prices (Average)
| City | Detached House | Condo |
|---|---|---|
| Toronto (GTA) | $1,300,000+ | $700,000+ |
| Vancouver | $1,800,000+ | $750,000+ |
| Montreal | $600,000 | $400,000 |
| Calgary | $650,000 | $350,000 |
| Ottawa | $700,000 | $450,000 |
| Edmonton | $450,000 | $250,000 |
Housing in Toronto and Vancouver is not representative of Canada overall. Median home prices require household incomes well above $200,000 for reasonable affordability. Many professionals rent indefinitely or commute from distant suburbs.
Transportation
Public Transit Monthly Passes
| City | Monthly Pass | Notes |
|---|---|---|
| Toronto (TTC) | $156 | Subway, bus, streetcar |
| Vancouver (TransLink) | $102-177 | Zone-based |
| Montreal (STM) | $97 | Metro and bus |
| Calgary | $112 | CTrain and bus |
| Ottawa (OC Transpo) | $125 | O-Train and bus |
Car Ownership
| Expense | Typical Cost |
|---|---|
| Gas (per liter) | $1.50-1.80 (~$5.70-6.80/gallon) |
| Insurance (annual) | $1,500-3,000 (varies by province) |
| Parking (downtown monthly) | $200-500 |
| Registration/license | $100-200/year |
In British Columbia, basic auto insurance is provided by ICBC (government). You must use ICBC for basic coverage, though you can add optional coverage from private insurers. Rates have been historically high but are improving.
Food & Groceries
Grocery Prices (Typical)
| Item | Price (CAD) | vs. US |
|---|---|---|
| Milk (1 liter) | $2.80-3.20 | Similar |
| Bread (loaf) | $3.00-4.00 | 10-20% higher |
| Eggs (dozen) | $4.00-5.50 | Similar |
| Chicken breast (1kg) | $14-18 | Higher |
| Ground beef (1kg) | $12-16 | Similar |
| Apples (1kg) | $4.00-5.00 | Similar |
| Restaurant meal (mid-range) | $20-35 | Similar + tip |
Dining Out
- Fast food combo: $12-15
- Casual restaurant: $20-35 per person
- Nice restaurant: $50-80 per person
- Coffee (regular): $2.50-4.00
- Beer (pint at bar): $7-10
Like the US, tipping is standard in Canada. 15-20% is normal for restaurants, 15% for taxis, $1-2 per drink at bars. Don't assume it's included—check your bill. Some restaurants are moving to "no tipping" models but they're rare.
Healthcare Costs
While provincial health insurance covers most medical care, there are significant gaps and out-of-pocket costs.
Covered (Free with Provincial Insurance)
- Doctor visits (family doctor and specialists)
- Hospital stays and surgeries
- Diagnostic tests (when medically necessary)
- Emergency room visits
NOT Covered (Out-of-Pocket or Private Insurance)
| Service | Typical Cost |
|---|---|
| Prescription drugs | $50-500+/month depending on meds |
| Dental cleaning | $150-250 |
| Dental filling | $150-300 |
| Eye exam | $75-150 |
| Glasses | $200-500+ |
| Physiotherapy session | $80-120 |
| Psychologist session | $150-250 |
Supplemental Insurance
- Individual plan: $100-300/month
- Family plan: $300-600/month
- Employer-provided: Often 50-100% covered by employer
Unlike the US, you won't face six-figure bills for a hospital stay. A heart attack or cancer treatment won't bankrupt you. This peace of mind is valuable, even if you pay more in taxes to fund the system.
Taxes: The Big Difference
Canadian taxes are generally higher than US taxes, which significantly impacts take-home pay.
Income Tax Comparison ($100,000 income)
| Location | Approximate Tax | Take-Home |
|---|---|---|
| Ontario | ~$28,000 | ~$72,000 |
| British Columbia | ~$26,000 | ~$74,000 |
| Quebec | ~$32,000 | ~$68,000 |
| Alberta | ~$25,000 | ~$75,000 |
| Texas (US) | ~$18,000 | ~$82,000 |
| California (US) | ~$26,000 | ~$74,000 |
Sales Tax (HST/GST/PST)
| Province | Total Sales Tax |
|---|---|
| Alberta | 5% (GST only) |
| British Columbia | 12% (GST + PST) |
| Ontario | 13% (HST) |
| Quebec | 14.975% (GST + QST) |
| Nova Scotia | 15% (HST) |
Like most US states, Canadian prices don't include sales tax. That $100 item will cost $113 in Ontario at checkout. Unlike Europe, tax is added at the register, not displayed on the shelf price.
Sample Monthly Budgets
🏙️ Toronto - Single Professional ($120K salary)
👨👩👧 Calgary - Family of 3 ($150K household)
🎓 Montreal - Young Professional ($70K salary)
Hidden Costs to Plan For
- Winter clothing: $500-2,000 for proper coat, boots, etc. (if from warm state)
- Winter tires: $600-1,200 + storage if you own a car
- Waiting period insurance: $300-600 total during healthcare gap
- US tax preparation: $1,500-5,000 annually for cross-border returns
- Exchange rate fluctuation: If income in CAD, US obligations in USD
- Credential recognition: Fees to get US degrees/licenses recognized