Would You Be Able To Afford The Cost Of Living In Canada?
One question that is continuously being asked is about the cost of living in Canada. One who takes financials into consideration would be a good candidate. Now, is a good time to think about this and for those who have given it some thought can begin their financial searching right here. We have tried to elaborate on the numbers such as clothing, food, transportation, and housing in this article. However, it is significant to keep in mind that with Canada being so huge there are going to be a lot of variants’. So these numbers, even though are up to date, will also vary. One can find specific information once they have chosen a particular province.
What Exactly Is Living Cost?
What does the term “living cost” really mean? Just as everyone lives different lives, everyone will also have their own opinion of the definition to this question. It is more or less a personal definition from individuals regarding what they feel is necessary for to live their life at least at a functioning level. Living costs can vary from one province to the next and from one town to another. In order to give a specific answer to this question it would have to be based mostly from personal experiences and what the human needs are universally, such as transportation, housing, food, personal hygiene, among other things. This should be informative enough. Due to the restraints regarding length of, the average costs in Canada, including cities which are chosen by immigrants to settle in the most will be provided.
The following list was last updated February 2019.
1. An average salary in Canada
Included is a short video, which gives all the general information regarding the average monthly salary of the different provinces. However, an overall average could not be provided as that would consist of separating everything into different categories. For example, job seniority, positions, education, experience, etc. However, a full featured film cannot be given, but this will be enough to use for basing yours on.
2. The cost of housing in Canada
When it comes to having a roof over your head, there is not many things more important than shelter. Below we go over what that can cost.
An apartment that is 75 sqm in size will be big enough to have two bedrooms and a good size living area, along with the kitchen, two bathrooms and a utility space. The national cost average for properties located by a city center averages 450,000 CAD. An apartment of 50 sqm being around 300,000 CAD, which is big enough for a single person or a couple. Of course, the further away from the city center, the lower the rates are going to be. Naturally, not everyone is going to have enough capital to own real estate, thus, the reason for renting.
A person would have to pay around 1,200 CAD monthly for a one-bedroom apartment in the city center, and for a two bedroom they would be paying about 1,900 CAD monthly. Although this is around 66% of an average salary, when you take into consideration that there will usually be at least two adults dwelling in the home or several flat-mates who have an income, which actually averages out to be around 10 to 30% of the household income. For those who are living outside of the city center the rates will be significant lower. This brings the balance of salary left to around 70%.
Average cost in the more popular cities:
Calgary:
- An apartment of 75 sqm within the city center will about 375,000 CAD.
- An apartment of 50 sqm within the city center will be about 250,000 CAD.
- Rent for a two-bedroom apartment in the city center will cost about 2100 CAD per month.
- Rent for a one-bedroom apartment in the city center will cost about 1300 CAD per month.
Montreal:
- An apartment of 75 sqm within the city center will about 390,000 CAD.
- An apartment of 50 sqm within the city center will be about 260,000 CAD.
- Rent for a two-bedroom apartment in the city center will cost about 1900 CAD per month.
- Rent for a one-bedroom apartment in the city center will cost about 1050 CAD per month.
Ottawa:
- An apartment of 75 sqm within the city center will about 337,500 CAD.
- An apartment of 50 sqm within the city center will be about 225,000 CAD.
- Rent for a two-bedroom apartment in the city center will cost about 2100 CAD per month.
- Rent for a one-bedroom apartment in the city center will cost about 1300 CAD per month.
Toronto:
- An apartment of 75 sqm within the city center will about 760,000 CAD.
- An apartment of 50 sqm within the city center will be about 500,000 CAD.
- Rent for a two-bedroom apartment in the city center will cost about 3500 CAD per month.
- Rent for a one-bedroom apartment in the city center will cost about 2000 CAD per month.
Vancouver:
- An apartment of 75 sqm within the city center will about 900,000 CAD.
- An apartment of 50 sqm within the city center will be about 600,000 CAD.
- Rent for a two-bedroom apartment in the city center will cost about 3600 CAD per month.
- Rent for a one-bedroom apartment in the city center will cost about 2000 CAD per month.
When it is all said and done, what is going to matter the most is that you will have a house in Canada!
3. The cost of utilities in Canada
As far as I am concerned, the utilities would be the second most important thing in order to have lights and running water. The monthly average nationally for all of the basic utilities will cost around 125 CAD; this includes electric, water, air-conditioning, heat, and trash pick-up for the family home or a huge apartment.
In addition to the basic utilities, we would also throw in for the cost of a mobile telephone and internet. However, calculating for the telephone could be difficult since phone plans vary so much, however, without any special phone plans; a prepaid card is going to cost 0.32 CAD. Furthermore, the cost for a fast speed connection for a monthly internet plan will cost about 75 CAD.
4. The cost of food in Canada
Listing the prices of all the different types of food circulating throughout Canada would be far too lengthy, so this list is only going to cover the national average for the basic necessities in Canada.
Twelve regular eggs is about 3.5 CAD, close to 2.5 CAD for a liter of milk, and fresh bread by the loaf is around 3.5 CAD. The average cost of fruits and vegetables range between 1.5 CAD for a KG to about 4 CAD for a KG. Mineral water by the 1.5 liter bottle is about 1.5 CAD. It is clear that the averages are closely related and this will help with calculating up the cost for weekly groceries.
5. The cost of transportation in Canada
Were you just hired to work for a great company located in Canada? Now you have to figure out the cost of transportation between work and home. Do this by calculating the cost of the different types of transportation to be used.
On average, the local transport sells tickets for 3 CAD or one could get a monthly pass and use them on a daily basis for 95 CAD. There are also special discounts available (such as retired discounts, student discounts, etc.). On average, for 2 CAD per KM one can take a taxi. Of course, you could decide to purchase a vehicle, in which case, gasoline can be bought for 2 CAD per liter.
6. The cost of clothes in Canada
The following does not include all the clothing that can be found in Canada. However, on the average you can get a pair of Levi’s jeans at a cost of approximately 60 CAD. A nice summer dress can be found in one of the many chain stores for around 40 CAD. Canada has Nike running shoes which sell for about 100 CAD, and there are leather business shoes that sell for as little as 130 CAD.
These numbers are the national averages, which mean the cost of the leather shoes can be very different between regions and provinces. This is just to give a rough estimate on what to expect.
7. The cost of childcare in Canada
With many families moving to Canada, many clients have discussed childcare concerns. Therefore, we must include the national monthly cost averages to be about 900 CAD for a full day to attend a private kindergarten or preschool. The annual national cost average for primary schools cost about 15,200 CAD. These rates vary from one province to another.
Your friends need to be told about the cost of living in Canada!
Summary
So, what was the reason for giving all this information to you? The reason was to keep you up to date on Canada’s cost of living and enable you to with the necessary information that will allow you to be more informative when planning. The entertainment cost for seeing a movie or eating in restaurants have been left out. However, you will most likely get to treat yourself to some fun, great times, and go to restaurants to have as memories later.
Do not worry about that stuff, we did not want to waste your time by giving you more calculations. Take into consideration that this information is a little on the rough side, as rates are going to vary from one province to another, including towns. After you have decided on the province and town your traveling to it is a good idea to research the rates for that particular location in order to have a better view of the finances that will be needed.