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Toronto vs. Victoria: I compared the cost of living in 2026 and didn't expect these results
Some of the differences were surprisingly small — others cost thousands a year. 💸
Is it cheaper to live in Ontario or B.C.? With the cost of living in Canada continuing to be a major concern, deciding where your money will go further isn't always straightforward — especially when comparing two expensive cities like Toronto and Victoria.
I moved from Ontario to Vancouver Island more than 10 years ago, and I've watched the cost of living in Victoria change dramatically since then. Back when I first arrived, I paid just over $1,000 a month for a spacious one-bedroom apartment within walking distance of downtown. These days, finding a similar deal would be a very different story.
With family and friends still living in Toronto, I'm constantly comparing the cost of everyday expenses between the two cities. And while some things are noticeably cheaper in Victoria, others are surprisingly more expensive than in Ontario.
So, how does the cost of living in Toronto actually compare to Victoria in 2026? To find out, I looked at everything from rent and home prices to groceries, utilities, transportation, childcare, taxes, salaries and dining out to see which city offers better value for money.
The comparisons below are primarily based on Numbeo's cost-of-living data, using figures checked in October, alongside official government sources for taxes, minimum wages, childcare programs and public transit fares.
Taxes
One of the first things to consider when comparing the cost of living in Ontario and B.C. is how the two provinces' tax systems differ, from what you pay at the checkout to how much comes off your paycheque.
When it comes to sales tax, B.C. generally charges a 5% Goods and Services Tax (GST) and a 7% Provincial Sales Tax (PST), bringing the total to 12% on purchases subject to both taxes. Ontario, meanwhile, charges a 13% Harmonized Sales Tax (HST). However, exemptions vary, so the amount you actually pay depends on what you're buying.
Income tax is a little more complicated. Provincial income tax rates range from 5.6% to 20.5% in B.C., compared to 5.05% to 13.16% in Ontario. But that doesn't necessarily mean you'll pay less income tax in Ontario.
For example, someone with $60,000 in taxable income would fall into the 7.7% provincial tax bracket in B.C., compared to 9.15% in Ontario. These rates only apply to the portion of income within each bracket, rather than the entire $60,000.
Ontario residents also pay an additional Ontario Health Premium, which would amount to $600 annually at that income level. Higher earners may also be subject to a provincial income tax surtax.
Ultimately, neither province is automatically cheaper when it comes to taxes. How much you pay depends on your income, available tax credits and what you're purchasing.
Rent
According to Numbeo, as of October, renting in the two cities costs surprisingly similar amounts, although which is cheaper depends on the size of the apartment you're looking for.
For a one-bedroom apartment in the city centre, you can expect to pay around $2,180 per month in Victoria, compared to $2,260 in Toronto. Outside the downtown core, the difference is slightly bigger, with average rents of $1,854 in Victoria and $2,021 in Toronto.
However, the tables turn when it comes to larger rentals. A three-bedroom apartment in the city centre costs an average of $3,852 in Victoria and $3,842 in Toronto — a difference of just $10 per month. Outside the city centre, Toronto becomes the more affordable option, with average rents of $3,015 compared to $3,247 in Victoria, saving renters around $232 per month.
Overall, there's surprisingly little difference between rental prices in the two cities, with Numbeo putting Victoria's rents at virtually the same level as Toronto's. However, renters looking for a one-bedroom apartment may find Victoria slightly more affordable, while those needing a larger space could save money in Toronto.
Buying a home
For anyone looking to buy an apartment rather than rent, this is where Victoria pulls ahead. According to Numbeo's cost-of-living comparison, as of October, the average price per square metre in the city centre is $7,502 in Victoria and $11,389 in Toronto, a difference of $3,887, making Toronto approximately 52% more expensive.
To put that into perspective, based on Numbeo's figures, a 60-square-metre (roughly 650-square-foot) apartment downtown would cost about $450,000 in Victoria and $683,000 in Toronto — a difference of more than $230,000.
Outside the city centre, the average price per square metre is $6,246 in Victoria and $9,491 in Toronto. Based on those figures, the same-sized apartment would cost roughly $375,000 in Victoria, compared to $570,000 in Toronto.
So, while renting costs roughly the same in both cities, buying an apartment appears considerably more affordable in Victoria.
Utilities
When it comes to basic utilities, there's not a huge difference between Victoria and Toronto. According to Numbeo's cost-of-living comparison, as of October, monthly utilities for an 85-square-metre (roughly 915-square-foot) apartment, including electricity, heating, cooling, water and garbage collection, cost an average of $148 in Victoria and $172 in Toronto.
However, staying connected is more expensive on the island. The average monthly mobile phone plan costs $63 in Victoria, compared to $46 in Toronto, while broadband internet averages $88 in Victoria and $69 in Toronto.
Victoria's milder climate could help explain why basic utility costs are lower. Personally, I rarely turn on my heating before November, and I don't need air conditioning throughout the summer. In fact, my first apartment on Vancouver Island didn't have air conditioning at all, and I soon learned that it's not unusual for homes and apartments here to go without it.
So, while Victoria has a slight advantage when it comes to basic utilities, Toronto comes out ahead on internet and mobile phone costs.
Groceries
Groceries are one area where Victoria is considerably more expensive than Toronto, and it's a difference I noticed almost immediately after moving to Vancouver Island. Food seemed pricier than it did back home, and even now, when I compare grocery bills with my family in Ontario, I'm often surprised by the difference.
Of course, grocery costs depend on where you shop and what's in season, but there are also fewer discount grocery options on Vancouver Island. Greater Victoria only recently welcomed FreshCo and No Frills locations, while Walmart is another option for shoppers looking to save.
According to Numbeo, grocery prices in Victoria were approximately 29.5% higher than in Toronto as of October.
Here's how the average prices of some everyday staples compare:
- Milk (1 litre): $3.85 in Victoria vs. $3.56 in Toronto
- Beef (1 kilogram): $20.55 in Victoria vs. $21.13 in Toronto
- Potatoes (1 kilogram): $4.91 in Victoria vs. $2.59 in Toronto
- Local cheese (1 kilogram): $38.75 in Victoria vs. $13.01 in Toronto
- Mid-range bottle of wine: $25 in Victoria vs. $20 in Toronto
While not every item costs more in Victoria, the overall difference is significant. One possible explanation is the additional expense of transporting food to Vancouver Island. In a 2021 interview with CityNews, Sylvain Charlebois, director of the Agri-Food Analytics Lab at Dalhousie University, explained that the logistics of getting food onto the island can drive up prices, particularly for products that aren't produced locally.
Transportation
Transportation is another area where costs vary depending on whether you rely on public transit or drive.
According to the official fare schedules published by BC Transit and the TTC, as of October, a single adult transit fare costs $3 in Victoria, compared to $3.35 when paying cash or $3.30 by card in Toronto.
The difference is much more noticeable for regular commuters. In Victoria, a 30-day adult transit pass costs $85, while Toronto has a monthly fare cap of $155.10 for adult riders paying by PRESTO, debit or credit card. That's a potential difference of approximately $70 per month, or $841 annually, for frequent transit users.
However, the opposite is true when it comes to gas prices. According to Numbeo's October data, a litre of gas costs approximately $1.97 in Victoria, compared to $1.76 in Toronto, making it about 12% more expensive on Vancouver Island.
Personally, though, I drive a lot less than I used to. Distances between the places I regularly visit are generally shorter, so I find myself filling up far less often than I did in Toronto. I also try to time my fill-ups with trips to Costco, where I can usually find cheaper gas.
Ultimately, Victoria comes out ahead for public transit costs, while Toronto has the advantage when it comes to gas prices.
Dining out
Dining out is one area where costs are surprisingly similar in Victoria and Toronto. According to Numbeo, restaurant prices in Victoria were just 0.9% higher than in Toronto as of October.
For example, a meal at an inexpensive restaurant costs an average of $27.50 in Victoria, compared to $25 in Toronto. However, a three-course meal for two at a mid-range restaurant, excluding drinks, is actually slightly cheaper in Victoria, averaging $100 compared to $110 in Toronto.
If you fancy a beer with your meal, a half-litre of domestic draft beer will set you back around $8 in Victoria or $9 in Toronto.
There's also a difference when the bill arrives. According to the B.C. government, restaurant meals are exempt from Provincial Sales Tax (PST), meaning you'll generally pay just 5% GST on your food in Victoria, compared to 13% HST in Toronto.
However, alcoholic drinks are taxed differently, with a combined 15% GST and PST applying to liquor in B.C.
Childcare
Childcare costs can vary significantly in both Victoria and Toronto, particularly depending on whether you can secure a spot at a daycare offering government-reduced fees.
B.C. has a $10-a-day childcare program, although spaces are limited and can be difficult to secure. The province also offers fee reductions at other participating childcare centres.
I wasn't able to secure a $10-a-day spot myself, although I was fortunate enough to find childcare for $700 a month. When I was researching daycare options, I also came across centres charging more than $1,700 a month for full-time care. In my experience, some of the more expensive centres offered extras such as snacks and hot lunches.
However, Ontario also offers reduced-fee childcare through its Canada-Wide Early Learning and Child Care program, which caps fees at $22 per day for eligible children under 6 at participating providers.
For comparison, the latest Numbeo figures put the average monthly cost of private, full-day preschool at approximately $1,275 in Victoria, compared to $1,75 in Toronto. That's a difference of around $100 per month, or $1,200 annually.
Ultimately, Toronto comes out slightly cheaper based on Numbeo's reported preschool fees, but families in both cities could pay considerably less through government-supported childcare programs. The actual cost will depend on the provider, the child's eligibility and the availability of reduced-fee spaces.
Salaries
Of course, comparing living expenses only tells half the story. How much you can earn in each city is just as important when figuring out where your money will go further.
As of October, B.C.'s minimum wage is $18.25 per hour, slightly higher than Ontario's minimum wage of $17.95.
However, average take-home salaries tell a different story. According to Numbeo, the average monthly salary after tax is $5,254.70 in Toronto, compared to $4,599.29 in Victoria — a difference of approximately $655 per month, or $7,865 annually.
That's a significant gap, particularly when you consider that some major expenses, including rent, are relatively similar in both cities.
Of course, actual salaries vary depending on your profession, experience and employer. But for anyone considering a move between Toronto and Victoria, it's worth comparing what you could realistically earn alongside what you'd spend on everyday living costs.
The verdict
So, is it actually cheaper to live in Victoria or Toronto? Well, there's no clear winner. Both cities have advantages depending on where you're spending your money.
Here's how the costs stack up:
- Cheaper in Victoria: Buying an apartment, basic utilities, public transit and restaurant food taxes.
- Cheaper in Toronto: Groceries, gas, mobile phone plans, internet and average private preschool fees.
- About the same: Renting an apartment and dining out, although prices vary depending on what you're looking for.
- Salaries: Average monthly take-home pay is approximately $655 higher in Toronto, according to Numbeo, although B.C. has a slightly higher minimum wage.
- It depends: Income taxes and childcare. Both provinces have different income tax brackets and offer government-reduced childcare fees, so individual circumstances make a significant difference.
Ultimately, while Victoria offers some significant savings, particularly for those looking to buy property, Toronto has the advantage in several everyday expenses and average take-home earnings.
For anyone considering a move between the two cities, the biggest factor may be how your salary compares with your housing costs and other regular expenses.
Neither city is automatically the more affordable option, but understanding where the biggest differences lie can help you decide which makes more financial sense for your circumstances.
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