New York
TorontoVS
Toronto is 29% cheaper than New York overall.
| New York | Toronto | |
|---|---|---|
| Rent (1BR City Centre) | $5,455.32 CAD | $2,450.00 CAD |
| Rent (1BR Outside Centre) | $4,336.28 CAD | $2,100.00 CAD |
| Groceries Index | 120 | 108 |
| Monthly Transit Pass | $184.64 CAD | $156.00 CAD |
| Utilities (monthly) | $223.81 CAD | $160.00 CAD |
| Gas (per litre) | $1.47 CAD | $1.65 CAD |
| Mid-range Meal | $41.96 CAD | $28.00 CAD |
| Gym Membership | $111.90 CAD | $70.00 CAD |
| Childcare (monthly) | $3,077.36 CAD | $1,750.00 CAD |
Each city is shown in your selected currency (toggle CAD/USD in the header); cheaper values are highlighted after converting to a common currency. Updated June 2026.
Salary Equivalence Calculator
If you earn $in New York...
You would need $42,520 in Toronto to maintain the same lifestyle.
Frequently asked questions
Is New York cheaper than Toronto?
Toronto is 29% cheaper than New York overall.
How much is rent in New York vs Toronto?
A one-bedroom in the city centre averages $3,900 USD per month in New York and $2,450 CAD in Toronto. Outside the centre, it is $3,100 USD in New York and $2,100 CAD in Toronto.
What salary do I need to move from New York to Toronto?
On average, you need about 71% of your current salary — for example, $60,000 in New York is roughly equivalent to $42,520 in Toronto.