Costul vietii in Toronto, Canada. Toronto's COST of living, Canada
Facts:
Toronto's Cost Of Living Is So High That People Making Minimum Wage Can't Afford It - article:
The cost of living in the city is at least $6000 more a year than the average annual earnings of a full-time employee making minimum wage.
Ontario minimum wage is $14 an hour, and in Toronto, the average cost of living is around $32,885 per year.
That means that the municipal government also needs to play a role in making Toronto more affordable for people. Whether it's through reduced transit costs, more affordable housing options, or through companies providing more reasonable phone plans so that people are able to at least have a chance at covering all their monthly expenses.
Only one province in Canada has a higher minimum wage than Ontario. In Alberta, the wage increased to $15 an hour on October 1st. BC is also on track to raise their minimum wage above $15 an hour over the next few years.
Based on these figures, the average monthly expense in 2019 then works out to $3,214.39. This number is up by almost $475 from 2018 and up by a whopping $865 from 2017. At this rate, we can expect the cost of living in Toronto to go up by roughly another $400 per month in 2020.
Toronto has 1st Most Expensive Milk (regular 1 liter) in America out of 83 cities.
World Ranking:
7th Most Expensive Milk (regular 1 liter) out of 367 Cities in the World.
18th Most Expensive Apartment (1 bedroom) Outside of Centre (Rent Per Month) out of 375 Cities in the World.
25th Most Expensive Apartment (1 bedroom) in City Centre (Rent Per Month) out of 376 Cities in the World.
With a average home price of $646,732, a Torontonian would need an income of $92,220 in order to secure a 20 per cent down payment and qualify for a 30-year mortgage at a fixed rate of 3.75 per cent.
The actual household average income in Toronto is $66,520, which leaves an income gap of roughly $25,700.
Remember, these are AVERAGE income estimates when you calculate the super rich earners, but most people are earning well below these numbers.
World Ranking:
7th Most Expensive Milk (regular 1 liter) out of 367 Cities in the World.
18th Most Expensive Apartment (1 bedroom) Outside of Centre (Rent Per Month) out of 375 Cities in the World.
25th Most Expensive Apartment (1 bedroom) in City Centre (Rent Per Month) out of 376 Cities in the World.
With a average home price of $646,732, a Torontonian would need an income of $92,220 in order to secure a 20 per cent down payment and qualify for a 30-year mortgage at a fixed rate of 3.75 per cent.
The actual household average income in Toronto is $66,520, which leaves an income gap of roughly $25,700.
Remember, these are AVERAGE income estimates when you calculate the super rich earners, but most people are earning well below these numbers.
Toronto is now the 5th most unaffordable city in the world.
The average nice house in a nice neighborhood is about $1.4 million. This would be a dream for many Canadians, but how many do you think can afford it on a $55,000 salary?
One bedroom Condos are about $600,000 if you prefer not to live in gang infested areas.
Toronto's Cost Of Living Is So High That People Making Minimum Wage Can't Afford It - article:
The cost of living in the city is at least $6000 more a year than the average annual earnings of a full-time employee making minimum wage.
Ontario minimum wage is $14 an hour, and in Toronto, the average cost of living is around $32,885 per year.
Broken down, that includes an average monthly cost of $1672.13 spent on rent, $127.50 on phone and internet, $176.25 on transportation, $283.60 on groceries, $354 on entertainment, $75 on fitness, and $152 on insurance.
Between food, rent, and TTC fare you can't afford to even live in the city.
Even with an increased wage of $15 an hour, in the city of Toronto, that wouldn't be considered a living wage. The average annual income of someone making $15 an hour is still $4000 less than the average cost of living in the city.
Between food, rent, and TTC fare you can't afford to even live in the city.
Even with an increased wage of $15 an hour, in the city of Toronto, that wouldn't be considered a living wage. The average annual income of someone making $15 an hour is still $4000 less than the average cost of living in the city.
That means that the municipal government also needs to play a role in making Toronto more affordable for people. Whether it's through reduced transit costs, more affordable housing options, or through companies providing more reasonable phone plans so that people are able to at least have a chance at covering all their monthly expenses.
Only one province in Canada has a higher minimum wage than Ontario. In Alberta, the wage increased to $15 an hour on October 1st. BC is also on track to raise their minimum wage above $15 an hour over the next few years.
Based on these figures, the average monthly expense in 2019 then works out to $3,214.39. This number is up by almost $475 from 2018 and up by a whopping $865 from 2017. At this rate, we can expect the cost of living in Toronto to go up by roughly another $400 per month in 2020.
Data:
https://www.numbeo.com/cost-of-living/in/Toronto
A single person monthly costs: 1,326.67 $ without rent.
Cost of living index in Toronto is 15.86% lower than in New York.
Cost of living rank 28th out of 376 cities in the world.
New Immigrants opinions:
"Toronto is the city where newcomer workers have nowhere to live, and they have to spend half their lives at work, and the other half commuting. Sometimes, no time to even properly sleeping, or sleeping in go-trains, which cost 4000 or more a year (cost not included in Numbeo).
https://www.numbeo.com/cost-of-living/in/Toronto
A single person monthly costs: 1,326.67 $ without rent.
Cost of living index in Toronto is 15.86% lower than in New York.
Cost of living rank 28th out of 376 cities in the world.
New Immigrants opinions:
"Toronto is the city where newcomer workers have nowhere to live, and they have to spend half their lives at work, and the other half commuting. Sometimes, no time to even properly sleeping, or sleeping in go-trains, which cost 4000 or more a year (cost not included in Numbeo).
If employers misbehave, you have to suffer through it, because if you don't have a job, you don't have shelter, no food.
If you are on a work permit you are out of the country without job, if you are citizen, and you get fired, you are looking at the cold hard pavement, and sometimes homeless people get attacked.
Economic pressure is too high, and this is the city."