Thinking about relocating between Canada’s two largest cities? Whether you’re chasing career opportunities, seeking a change of scenery, or following family, understanding the financial implications is essential before making your decision. Both Montreal and Toronto offer unique advantages, but their costs of living differ significantly across nearly every category.
Housing: The Biggest Difference
The most significant cost difference between these cities is housing, and it’s not even close. Toronto’s real estate market consistently ranks among the most expensive in North America, while Montreal remains surprisingly affordable for a major metropolitan area.
Renting a one-bedroom apartment in downtown Toronto averages around $2,500 per month, while the same apartment in Montreal typically costs between $1,500 and $1,800. Move outside the city center, and you’ll still find Toronto commanding a premium of 40% to 50% over comparable Montreal neighborhoods.
For those looking to buy, the gap widens dramatically. Toronto’s average home price hovers near $1.1 million compared to Montreal’s $550,000. First-time buyers often find themselves priced out of the Toronto market entirely, while Montreal still offers realistic paths to homeownership for young professionals and growing families.
This housing affordability extends to apartment sizes as well. Your rental budget in Montreal typically gets you more square footage, newer appliances, and access to amenities that would cost significantly more in Toronto.
Daily Expenses and Groceries
Groceries and dining out remain relatively comparable between both cities, though Toronto edges slightly higher across most categories. A meal at a mid-range restaurant costs about 15% more in Toronto, and even casual dining options tend to carry higher price tags.
Weekly grocery bills follow a similar pattern. While staples like bread, milk, and eggs cost roughly the same, fresh produce and meat often run cheaper in Montreal. The difference might seem small on individual items, but it adds up over months and years.
One area where Montreal clearly wins is alcohol pricing. Quebec’s more relaxed regulations mean wine and beer cost considerably less than in Ontario, whether you’re buying from a store or ordering at a restaurant.
Transportation Costs
Public transit tells a revealing story about each city’s approach to urban mobility. A monthly pass in Toronto runs around $156, while Montreal’s STM charges approximately $100. This represents a meaningful difference for daily commuters, amounting to over $670 in annual savings.
Car ownership presents mixed results. Insurance rates tend to be higher in Ontario, though Quebec’s mandatory public insurance system comes with its own costs. Gas prices fluctuate but generally remain comparable between provinces.
Both cities offer extensive public transit networks, though Toronto’s system covers more ground. Montreal’s Metro is smaller but exceptionally efficient, and the city’s bike-sharing program provides affordable alternatives during warmer months.
Income and Career Opportunities
Toronto’s job market, particularly in finance, technology, and corporate sectors, often offers higher salaries. The city serves as Canada’s business capital, hosting headquarters for major banks, consulting firms, and multinational corporations.
However, when adjusted for cost of living, Montreal frequently provides better purchasing power. A salary of $70,000 in Montreal often stretches further than $90,000 in Toronto once housing and daily expenses enter the equation.
Montreal’s thriving aerospace, gaming, and artificial intelligence industries also offer competitive compensation packages. The city has emerged as a genuine tech hub, attracting talent with reasonable salaries and exceptional quality of life.
Taxes and Provincial Differences
Quebec’s income tax rates rank among the highest in Canada, which can surprise newcomers from Ontario. However, Quebec residents benefit from subsidized childcare, lower tuition fees, and affordable prescription drug coverage. For families with young children, these provincial programs can offset the higher tax burden significantly.
Ontario offers lower provincial taxes but fewer subsidized services. The trade-off depends largely on your personal situation and family needs.
Making the Move
If you’ve weighed the numbers and decided Ontario is calling, planning your interprovincial relocation carefully matters. Crossing provincial borders involves more logistics than a local move, from updating vehicle registrations to transferring health coverage.
Working with professionals experienced in moving from Montreal to Toronto ensures your belongings cross provincial lines safely and your transition goes smoothly. A reliable moving company handles the heavy lifting while you focus on settling into your new city.
The Bottom Line
Montreal offers affordability and European charm. Toronto offers career opportunities and cultural diversity on a global scale. Your ideal city depends on career goals, lifestyle preferences, and financial priorities.
For young professionals building savings, Montreal provides breathing room. For ambitious climbers in finance or tech, Toronto opens more doors. Both cities deliver world-class culture, diverse communities, and distinct Canadian experiences worth exploring.
Whichever direction you choose, understanding the true cost of living helps you plan realistically and start your new chapter on solid financial footing.
