Planning a province to province moving? It's crucial to understand the differences in cost of living between these two Canadian cities. Our detailed comparison covers housing, income tax, entertainment, and outdoor activities costs to help you decide which city might be a better fit for your lifestyle and budget. Get ready to delve into the financial implications of such a move!
Calgary boasts some of the most affordable housing options in Canada. Despite recent surges in housing prices across Europe and the United States, rental costs in Alberta remain reasonable. For instance, you can expect to pay approximately $1,231 for a one-bedroom apartment and around $1,580 for a two-bedroom unit.
In stark contrast, Toronto’s housing market is significantly more competitive and expensive. The average home price in Calgary is around $500,000, while in Toronto, it exceeds $1 million. This dramatic difference can be attributed to several factors, including high demand and limited supply. With a substantial portion of Toronto's population being immigrants actively seeking housing, properties often sell within days of being listed, leading to fierce competition. As a result, those considering a move to Toronto should be prepared for much higher housing expenses compared to Calgary.
High Stream Moving is proud to offer professional local and long distance moving services in Toronto and all across Canada and the USA.
A quick comparison of various home types and categories in Calgary and Toronto reveals stark differences in the housing landscape. In Calgary, with a budget of around $500,000, you can comfortably purchase a spacious five-bedroom, two-story home in one of the city’s family-friendly neighborhoods.
In contrast, the same budget barely scratches the surface in Toronto, where many homes in desirable residential areas exceed $1 million. For that price, you might only be able to secure a one-bedroom condo, often with limited space and amenities.
For those seeking more affordable housing options in both cities, exploring the outskirts or less densely populated neighborhoods can be a viable alternative. In Calgary, areas like Airdrie and Okotoks offer lower prices and a more suburban feel, while in Toronto, communities such as Oshawa or Brampton can provide better value without compromising too much on accessibility to the city.
Ontario and its cities house the major financial hubs of Canada. It's the epicenter of commerce and sport in Canada. The setting in the city is majorly cosmopolitan, and this comes with a high living cost. The situation is fairer in Calgary, a diverse environment that's about three hours from the US border. It's Alberta's largest city in terms of population, with a rich cultural background. The living cost is fairly conservative in Alberta when compared to other places.
You'd pay 3.9% more for restaurants in Toronto than choosing to stay in Calgary. You'll also pay 6.8% more for groceries and 11.1% more for transportation in Toronto. You'll also pay more for childcare but a bit less for clothing in Toronto. Overall, you'd need a fat monthly budget if you wish to live with comfort in Canada's largest city. However, you should also expect to earn more on average in Toronto.
Before now, the income tax system in Calgary makes it an inviting place to move to. This is because every earner in Alberta paid the same tax percentage. Today, the tax rate in Alberta is between ten to fifteen percent of income, while the tax rates in Ontario range from 5.05% to 13.16%. However, the combined federal and provincial tax rate is between 25% and 48% in Alberta compared to 20.05% and 53.53% in Ontario. The after-tax remuneration in Calgary is enough to cover up to 2 months of living expenses, compared to 1.4 months in Toronto.
Without a doubt, Toronto is Canada's most entertaining and fun-filled city. This claim is partly due to its around eight million residents, which is more than what you will find in most cities. Besides, Toronto is home to several art galleries and museums where you can experience the rich culture of Canadians.
In terms of cost, a typical movie ticket to a cinema costs around $16.42 in Calgary compared to $15.43 in Toronto. You'll also spend around $76.54 for a monthly membership at a local gym in Calgary compared to $64.38 in Toronto. Overall, you'd spend 2.6% less on entertainment in Toronto when compared to Calgary.
Overall, Calgary has a rich outdoor profile when compared to Toronto. This is partly due to the fact that mountains surround Calgary. Besides, the city houses more than a thousand playgrounds and up to six thousand parks. Toronto is not far behind in outdoor activities and fun avenues. It has several natural attractions like Niagara Falls and the city is close to Lake Ontario.
The ticket fee for visiting most parks in Calgary ranges from $90-$120. The cost is a bit higher in Toronto. Some parks, like Heritage Park, admit people for around $11. Horseback riding costs an average of $60 in Calgary and a bit higher in Toronto.
Overall, the cost of living in Toronto is a bit on the high side when compared to Calgary, as Toronto is about 7.2% more expensive. However, both cities have their fair share of job opportunities, school, and fun avenues. While Toronto is more cosmopolitan owing to the large amount of skyscrapers and explosive growth in the number of residents, Calgary is a more laid-back, fun city.
You'd enjoy more of the city life with balanced weather conditions in Toronto. On the other hand, in Calgary, the experience is more balanced between its busy days full of hustle and its quite entertaining nights.
High Stream Moving has you covered and will guide you through the whole moving process in Toronto for a successful move at an affordable cost. Contact us at (800) 430-1537 to get a free estimate!