Cost of living in Canada

Canada is rated as one of the best countries to live in. It has a very decent GPI rating, abundant job, and business opportunities, convenient foreign immigration policies, and the list goes on. But as Indians, the first thing that comes across our minds is the cost of living. So, in this article, we’re going to discuss the wealth that needs to be spent while living in Canada. Currently, a Canadian dollar is equal to 54.05 INR.

The expenses tend to fluctuate depending on which province, region, or city one is planning to live in. Therefore, it isn’t very easy to generalize the costs. However, we can talk about the upper and lower limits. This would help you plan in a better way.

The Cost of Living in Canada are:

Housing Expenses

To start, let’s talk about housing expenses. If you are planning to live in a quite posh area, the cost is somewhere around CAN$2,250 per month. Which in Indian Rupees would be around 125K. For a slightly pocket-friendly area, you can cut short the cost to around CAN$1750. In addition to the rent, other expenses like electricity, gas, and cleaning can add up to CAN$500. If we do a bit of math, the total cost per annum would be around CAN$33000 in expensive cities like Toronto. But in places like Ottawa, the cost can be brought down to CAN$27000.


The next important topic is food. An average meal would cost around CAN$8-10. If we add drinks like wine, which is about CAN$16-18 for a bottle, this budget will shoot up a bit. Bread, eggs, potatoes, tomatoes, and other daily edibles fall in the range of CAN$2-4 per kg (dozen of eggs). Cheese would cost up to CAN$10-12/500grams. Other items, like beer and milk, are about CAN$4 per liter. All this will bring the cost to around CAN$800-CS850 monthly. 


Talking about necessities, how can one forget about the Internet. Unlike in India, the cost to surf the web isn’t that cheap. The rate data rates are pretty high in Canada, but you’ll get high-speed Internet at almost all places. The average monthly cost for calls and Internet ranges between CAN$125 to CAN$130. 

Medical care

Next up is medical care. Canada is a country where no-cost healthcare is provided. It is a major attraction for foreigners. The tax system is used to finance healthcare. A Canadian citizen pays around CAN$4200 per annum for the free healthcare facilities.

Travel and transportation 

Now that we talk about traveling, petrol or gasoline is perhaps the only thing which is of the same price as in India. A bus ticket would cost you about CAN$3.5, but a monthly pass can give you a bit discount. A monthly transport pass will cost about CAN$92.


Now, if you’re a student, University fees will also be an expense. The average cost of studying at the University of Toronto is around CAN$45000/year. But the cost gets down to about half when we talk about York University, which would cost about CAN$23000 per annum.


The rate of Income-tax in Canada is as follow –

  1. CAN$25,000: Federal – 15% + Provincial – 5.05% = 20.05%
  2. CAN$50,000: Federal – 20.5% + Provincial – 9.15% =2 9.65%
  3. CAN$100,000: Federal – 26% + Provincial – 11.16% = 37.16%


To sum up, the costs of various things add up to around CAN$90,000 yearly, which is roughly 50 lacs in Indian Rupees. It seems a hefty amount for an average Indian. However, comparing this with other developed nations like the USA or other European Countries, Canada is still less expensive. 

This country is one of the best places to live in. I hope this article helps you in knowing the Cost of Living in Canada and financially plan and prepare yourself.

Thank You!   

/ Canada

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