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Chapter 3 of 15

Cost of Living

Varies strongly by province, very expensive in Vancouver and Toronto

Summary

The cost of living in Canada varies enormously by province and city. Vancouver and Toronto are extremely expensive, comparable to Amsterdam or London. Cities like Montreal, Calgary, and the Atlantic provinces are significantly more affordable. A single person needs on average CAD 3,300-3,800 per month (excl. rent), a family of four CAD 5,900-6,400. In 2025, rents decreased for the first time in years, but affordability remains a major challenge.

What you need to know

Rent by city

City1-bed (mth)2-bed (mth)House (mth)
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2. Regions and Cities

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Knowledge Base

Glossary
  • SIN (Social Insurance Number)

    The Canadian social insurance number. Required for working, filing taxes and government services. Apply at Service Canada as soon as you are in Canada.

  • Express Entry (Immigration System)

    The Canadian points-based system for skilled immigrants. Your profile is assessed on age, education, work experience, language level (IELTS/TEF). High CRS score = invitation for PR.

  • PR Card (Permanent Resident Card)

    The Canadian permanent residence card. You must reside in Canada for at least 730 days in 5 years to maintain your PR. After 3 years you can apply for Canadian citizenship.

  • CRA (Canada Revenue Agency)

    The Canadian tax authority. Tax year = calendar year, returns due by April 30. Canada has federal + provincial tax (total 20-54% depending on province and income).

  • Provincial Health Insurance

    Each Canadian province has its own health insurance: OHIP (Ontario), MSP (BC), RAMQ (Quebec), etc. 3-month waiting period before coverage starts — get bridging insurance.

  • RRSP (Retirement Savings Plan)

    The Canadian pension savings plan with tax benefits. Contributions are deductible, growth is tax-free. You pay tax only upon withdrawal. Comparable to an annuity.

  • TFSA (Tax-Free Savings Account)

    A tax-free savings account in Canada. Growth and withdrawals are completely tax-free. Annual contribution limit of ~$7,000. Ideal for saving and investing.

  • GST/HST (Sales Tax)

    The Canadian sales tax: GST (5% federal) + PST (provincial, 0-10%), or combined as HST (13-15%). Store prices exclude tax — always calculate extra.

  • LMIA (Labour Market Impact Assessment)

    An assessment a Canadian employer must obtain to hire a foreign worker. Proves that no suitable Canadian candidate is available.

  • Service Canada (Government Services)

    The counter for federal government services: SIN application, unemployment insurance (EI), passport, pension. Comparable to a Dutch municipal office but federal.

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