The Cost of living in Canada is 5.45% cheaper than in the United States; according to the website numbeo., the average income of an American and a Canadian is approximately the same amount. Canada is a large and diverse country, with provinces and territories with their unique economies and cost of living.

While some parts of Canada are more affordable than others, there are a few cities where the cost of living is exceptionally high. So if you’re looking for an affordable place to live, you may want to avoid these cities.

The most expensive city in Canada is Vancouver. The cost of housing in Vancouver is exceptionally high, and it’s one of the most expensive places in the world to live. The average price for a home in Vancouver is over 1 million Canadian dollars, and the rent for an average apartment is over $2,000 per month. Toronto is another expensive city to live in in Canada.

Cities With Highest Cost of Living In Canada 2019

Why is Canada an expensive place to live?

As many factors contribute to the high cost of living in Canada. Some of the reasons include the strong Canadian dollar, high taxes, and expensive real estate.
One of the most expensive cities in Canada is Toronto. The cost of living in Toronto is 46% higher than in New York City and 60% higher than in Los Angeles.

Housing is the most significant expense for Torontonians, with the average rent for a one-bedroom apartment costing $1,600 per month. Other cities in Canada with high costs of living include Vancouver and Calgary. For example, the cost of living in Vancouver is 43% higher than in New York City and 56% higher than in Los Angeles.