Cost of living in Toronto vs Sydney and Melbourne

Toronto isn't cheap, but if you're coming from Sydney the rent may actually feel like a small win. The catch is in the extras.

The short version

A one-bedroom in Toronto averaged about CA$1,970 a month in October 2026 [1]. Sydney units had a median asking rent of A$780 a week in the September 2026 quarter, Melbourne A$600 [2].
TTC fares are CA$3.30, and monthly fare capping means you never pay for more than 47 trips in a calendar month [3].
Canadian food prices are forecast to rise 4% to 6% in 2026, with Ontario among the provinces above the national average [6].
Ontario adds 13% HST to most prices at the till [8], and tipping around 15 to 20% is the norm at sit-down restaurants.
Ontario's minimum wage is CA$17.95 an hour from October 2026, well below Australia's A$26.44 [9][10].

Compare in the same currency

All prices here are in local currency, so CA$ for Toronto and A$ for Sydney and Melbourne. Exchange rates move, so convert at the day's rate before you compare like for like. As a rough rule, check whether one Canadian dollar is buying more or less than one Australian dollar that month; it changes the picture more than any single price.

The big comparison table

Cost (2026)	Toronto	Sydney	Melbourne
Rent, typical unit	about CA$1,970 a month for a one-bedroom [1]	A$780 a week median for units, about A$3,380 a month [2]	A$600 a week median for units, about A$2,600 a month [2]
Rent, downtown	about CA$2,080 a month for a one-bedroom [1]	Inner-city units sit above the median	Inner-city units sit above the median
Public transport cap	47 fares a month, about CA$155 max [3]	A$50 weekly cap on Opal [5]	A$5.70 daily cap while fares are halved, until 1 January 2027 [4]
Single trip	CA$3.30 with PRESTO or tap-to-pay [3]	Distance-based Opal fares	Two-hour myki fare (half price for now) [4]
Sales tax on purchases	13% HST added at the till [8]	10% GST included in shelf price	10% GST included in shelf price
Minimum wage	CA$17.95 an hour [9]	A$26.44 an hour (national) [10]	A$26.44 an hour (national) [10]

A note on the Domain figures: they cover units of all sizes, while the Toronto figure is one-bedrooms only, so treat it as a guide rather than an exact match.

Rent: the biggest line in the budget

Rent swallows the largest share of most Toronto budgets, just as it does in Sydney. The good news for 2026 arrivals is that Toronto asking rents have been falling. One-bedrooms in the city were down about 4% on a year earlier in October 2026, and North York dropped nearly 10% [1].

Two Toronto quirks hit your budget at the start:

First and last month up front. Landlords commonly take a deposit equal to one month's rent, used for your final month. Budget for two months' rent on signing, plus temporary accommodation while you search.
Hydro and extras. In many condos you pay your own electricity. Toronto Hydro's winter rates from November 2026 range from 9.1 cents per kWh off-peak to 18.9 cents on-peak [7]. Internet and contents insurance are on top.

Our renting in Toronto guide covers the deposit and lease rules in detail.

Getting around

Toronto's transit pricing is simple. A single adult fare is CA$3.30 on PRESTO, a debit or credit card, or a phone wallet [3]. Since 31 August 2026 there's no adult monthly pass. Instead, after 47 paid fares in a calendar month, the rest of your rides that month are free, as long as you always tap the same card or device [3]. That puts your maximum at roughly CA$155 a month.

Compare that with home: Sydney's Opal weekly cap is A$50 [5], and Melbourne has halved public transport fares from 1 June 2026 to 1 January 2027, cutting the full fare daily cap to A$5.70 [4]. For now, Melbourne commuters are spending far less than Torontonians on transit.

Owning a car in Toronto adds insurance, parking and winter tyres. If you live near the subway, skip it and rent a car for weekend trips to cottage country.

Groceries and eating out

Groceries

Food has been the sore point for Canadians. Canada's Food Price Report 2026 forecasts overall food prices rising 4% to 6% this year, with a family of four spending about CA$17,570 on food across the year, and food costing 27% more than five years ago [6]. Ontario is one of five provinces expected to see increases above the national average [6].

What that means in practice for Aussies:

Fresh produce gets pricier and less local in winter.
Dairy and cheese often feel expensive compared with Australia.
Discount supermarkets and no-name house brands make a real difference, as do loyalty apps.
Basic groceries are generally zero-rated for HST, but snacks, soft drinks and prepared food are taxed.

Eating out

The menu price is never the final price. Add 13% HST [8], then a tip, usually 15 to 20% at a sit-down restaurant and a dollar or two per drink at a bar. A meal that looks cheaper than Melbourne can end up costing about the same. Toronto's cheap eats are excellent, though: Chinatown, Koreatown on Bloor, Little India on Gerrard and the food courts across the inner suburbs.

Wages: the other half of the equation

Living costs only make sense next to earnings. Ontario's general minimum wage rose to CA$17.95 an hour on 1 October 2026 [9]. Australia's national minimum wage rose to A$26.44 an hour on 1 July 2026 [10]. Hospitality workers in Toronto make up some of the gap in tips, which is one reason tipping culture is so entrenched.

Professional salaries vary by field, but many Australians find take-home pay in Toronto lower than at home for the same role, especially in hospitality, trades and early-career jobs. Get a written offer before you budget.

A sample monthly budget for one person

Here's how a single person renting a downtown one-bedroom might plan their month, using the averages above. Your own figures will differ.

Rent: about CA$2,080 for a downtown one-bedroom [1].
Hydro and internet: budget a few hundred dollars more in winter for a condo where you pay your own electricity.
Transit: up to about CA$155 with fare capping [3].
Groceries: set a weekly budget and track it for a month; prices are rising faster than general inflation [6].
Phone: Canadian plans cost more than Aussie ones for similar data, so compare carefully.
Eating out and fun: remember to add 13% tax and the tip to every bill.
Health insurance: if you're not on OHIP, your private cover is a real monthly cost.

One more cost Aussies forget: winter. A proper coat, boots, gloves and a hat are a real first-year expense, so budget for them before November rather than panic-buying in the first cold snap.

Want real numbers from people living it? Ask in Cooee Canada, our Facebook group for Australians in Canada. Members share what they actually pay.

Cost of living in Toronto: how it stacks up against Sydney and Melbourne