Toronto Newcomer Housing & Transit Cost Guide
On CanadaStarter’s 19-market benchmark, Toronto ranks #17 from lowest to highest annual housing-and-transit cost.
What the benchmark means for Toronto
The housing component is CMHC’s 2025 average rent for a two-bedroom purpose-built rental apartment in the Toronto census metropolitan area: $2,046 per month. The transit component is $155.10 per month using the current regular adult benchmark described below. Together, that produces an annual housing-and-transit baseline of $26,413.20.
This is not a forecast of what your household will spend. Newly listed units can cost more or less than the CMHC average, and a studio, one-bedroom, shared rental or suburban house can create a very different result. The value of the index is consistency: every city uses the same housing unit type and a published adult transit benchmark.
Toronto transit assumption
TTC adult PRESTO/debit/credit fare is $3.30 and monthly fare capping begins after 47 paid trips, producing a maximum modeled monthly pay-as-you-go amount of $155.10 before free trips for the rest of that calendar month.
Transit is a much smaller component than rent in the index, but it still matters when comparing neighbourhoods or cities. A household that owns a car should not use the transit number as a substitute for insurance, parking, fuel and vehicle costs.
How Toronto compares with nearby-ranked cities
Lower-cost benchmarks immediately below Toronto include Ottawa ($24,774/year), Calgary ($24,480/year).
Higher-cost benchmarks immediately above Toronto include Victoria ($26,460/year), Vancouver ($29,762/year).
What is not included
Groceries, utilities, childcare, taxes, insurance, immigration costs, furniture, travel and entertainment are excluded. Those categories depend heavily on household size and lifestyle. For a personalized estimate, start with this rent figure if it is useful to you and add your own assumptions in the Newcomer First-Year Cost Calculator.
Build a moving budget for Toronto
The city benchmark tells you how Toronto compares with other markets, but it does not tell you how much cash you personally need before arriving. Use the How Much Money Do You Need to Move to Toronto? calculator to model rent, months of runway, monthly living costs, setup expenses and emergency reserves.
Primary sources
CMHC — 2025 average two-bedroom rent data →
Explore all 19 markets
2026 Newcomer Housing & Transit Cost Index →
Interactive City Cost Explorer →
Newcomer moving-budget guides by city →
Rent reference period: 2025. Transit pricing checked September 12, 2026. General planning information only.