Cost of Living in Canada 2024: A Complete Guide

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Meridean Overseas
Meridean Overseas

Updated On 03 February 2024 & Read Time 17 minutes

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Canada offers unlimited opportunity and potential with its rapidly growing economy and high-quality standard of living. The country creates thousands of jobs each year, which helps in its economic progression.

 

Due to this, many candidates select the country to study, work, or live in. If you are one of those who want to go to Canada, then firstly, you should know about the average cost of living in Canada. Generally, it is a major concern of all international candidates before moving to Canada. Many candidates think that the cost of living in Canada is too high, but this is a myth. The country is quite affordable compared to other countries like the USA, UK, Australia, New Zealand, etc. However, if you still have doubts about the cost of living in Canada per month, then read this blog. Here, we have provided a detailed overview of the average cost of living in Canada. Read the blog and know the details. 

 

Cost of Living in Canada

Every year, thousands of candidates go to Canada to study or work due to its standard of living. On average, the standard of living in Canada ranges from CAD 15,000 to CAD 20,000 (INR 9.03L to INR 12.05L).

 

Cost of Living in Canada

 

Most Canadian universities charge tuition for courses starting at CAD 15,000 (~INR 9,03,999) per year. However, it can vary based on lifestyle and tastes. Moreover, monthly living expenses in Canada for students is 880 CAD (INR 53,034) without rental costs. International candidates can easily handle and manage this cost of living in Canada if they avoid unnecessary expenses.

 

Average Cost of Living in Canada for International Students

The average cost of living in Canada for international students is from 9.03 lakhs to 12.05 lakhs. This will cover your daily and necessary expenses, including lodging, food, groceries, basic utilities, clothes, entertainment, and travel-related health insurance. It means the annual average cost of living in Canada is around CAD 18,340 (INR 11,14531) for international candidates to live comfortably in the country.

 

Furthermore, it is expected that the cost of living in Canada per month is INR 68,792 (about C$1,132) without rent, $1,708 per person and $3,911 for a family of four would be spent with rent. Candidates can manage their expenses by following the below-mentioned percentage on overall cost.

  • Rent – 31.3%

  • Restaurants – 14%

  • Transportation – 9.1%

  • Clothing and Shoes – 2%

  • Sports - 4.4%

  • Markets – 31.4%

  • Utilities (Monthly) – 7.8%

 

Cost of Living in Canada Per Month

Below, you can check the cost of living in Canada per month for international students.

Expenses

Cost (CAD)

Accommodation (shared apartments)

$400-$800

Food

$300-$400

Travel

$80-$110

Entertainment

$150

Other Utilities (electricity, cooling, water, heating, garbage)

$164.64

Internet (60 Mbps or more)

$78.82

Health Insurance (BC MSP Program)

$74

Cost of Living in Canada for Families and Students

International candidates interested in studying in Canada or moving to Canada with their families often seek accurate information on the cost of living in Canada. Canada is immigrant-friendly, extremely well-developed, and offers amazing facilities for its citizens.

 

Because of this, the standard of living in Canada may shock you a bit. Because someone who superficially assesses the cost of living based only on numbers would say that is too much. However, when you consider the context of the country and the window of ease it has for its citizens and foreigners, you will realise that the cost of living in Canada per month is not overpriced.

 

You can find some cities in Canada with low cost of living and similar facilities. The average cost of living in Canada for a family depends on the number of people in your family. It is usually between 2 and 4 since most families in Canada are nuclear families. The average living cost in Canada is as follows -

  • For a single person per month, excluding rent, it's $1,245.

  • For a single student per month, excluding the amount of rent, it's $880.

  • For a family of two per month, excluding rent, it's almost $2,500.

  • For a family of 4 per month, excluding rent, it's nearly $5,000.

  • For students, personal residences can cost around $625 per month, while on-campus housing can cost around $800 per month.

 

  

Standard of Living in Canada - City Wise Living Cost

Although understanding the basic cost of living in Canada is vital, it is equally important to know how much money you will need to live comfortably in Canada. To live comfortably, one must be able to save some money and have enough for both essentials and leisure activities.

 

Depending on where you live in Canada, the needed amount may change; in large cities, this difference is frequently in the thousands. Here are the details of the standard of living in Canada for different cities.

Cities

Cost for Single Person

Cost for Family of 4

Toronto

$3,551

$6,144

Vancouver

$3,445

$5,955

Montreal

$2,384

$4,799

Ottawa

$2,822

$5,329

Calgary

$2,449

$5,110

Quebec City

$1871

$4,126

Halifax

$2,377

$4,698

City Wise Living Expenses in Canada

Below, you can check the average cost of living in Canada for the 5 most expensive Cities. 

City

Average Cost of Living in Canada (Per Year)

Vancouver, BC

$38,484 /INR 23,62,507

Toronto, ON

$37,000/INR 22,71,405

Calgary, AB

$26,904/INR 16,51,619

Montreal, QC

$25,000/INR 15,34,733

Ottawa, ON

$20,000/INR 12,27,787

Affordable Cities in Canada

Here are the affordable cities in Canada for international students. 

City Name

Average Standard of living in Canada (per person)

London, Ontario

$1,013

Calgary, Alberta

$1,154

Regina, Saskatchewan

$1,124

Edmonton, Alberta

$1,183

 

Also, Read: Top 15 Highest-Paying Jobs in Canada  

 

Cost of Living in Canada - Accommodation Cost

A student's living expenses in Canada often change depending on where they live and how they live. The living on-campus or off-campus also has different housing costs. Generally, the on-campus annual cost of living in Canada might be somewhere between CAD 8000 and CAD 10,000. The monthly cost of an off-campus shared unit would be between CAD 400 and CAD 700.

 

According to a housing research and market report published by Canada Mortgage and Housing Corporation, the average monthly rent for a two-bedroom flat in Canada is CAD 1,167. However, the location and season can impact the cost of renting. The rent for off-campus accommodation without sharing is more expensive than for on-campus living.

 

So, it is advisable to choose on-campus housing options or go with shared accommodation to manage living expenses in Canada. Below, you can check the average cost of living in Canada for different types of accommodation.

Accommodation Type

Average Cost

On-Campus

$8000 - $10,000 (INR 8.02 - 10.03 lakhs) (annually)

Off-Campus Shared Accommodation

$400 to $700 (INR 40,140.02 to 70,245.04) (monthly)

1 BHK in the City Center

$1,332 (INR 1,33,666.28/-) (monthly)

1 BHK Outside the City Center

$1,123 (INR 1,12,693.12/-) (monthly)

3-Bedroom Apartment City Center

$2,718.34 (INR 1,68,975,93/-)

3-Bedroom Apartment Outside of Center

2,363.15 (INR 1,46,896/-)

City Wise Average Rental Cost in Canada

According to the rental market report by CMH – 

  • Canada's most costly cities are Vancouver and Toronto. In 2024, the rent for a two-bedroom property will increase by 2.2% to $ 3,000 and $3,180, respectively. 

  • St. John's is the lowest rental city in Canada; a two-bedroom flat may be rented for as little as $900.

  • The rent for a two-bedroom flat in Canadian cities like Halifax and Abbotsford is about $1300.

  • On average, the rental cost in Canada is 28.1% lower than in the USA.

 

Below, you can check the city-wise average rental cost in Canada. It will help you to identify your living expenses in Canada.

City Name

Average Two-Bedroom Rent/Month

Vancouver, BC

$18,254

Toronto, ON

$1,666

Victoria, BC

$1,571

Ottawa, ON

$1,550

Calgary, AB

$1,355

Edmonton, AB

$1,270.00

British Columbia, BC

$2034

Also, Read: Scholarship for Indian Students in Canada 

 

Other Living Expenses in Canada

There are some other living expenses in Canada that international students must know before moving to Canada. These expenses are as follows -

 

Travel Expenses in Canada

Major cities have reduced transport expenses since there were more easily available transportation choices. The cost of travelling for students varies based on whether they live. There are commuter trains and subways if students would rather take public transit.

 

A monthly pass can cost between CAD 80 and CAD 150, but a one-way public transport fare can only cost a few dollars. The cost of each form of transportation is shown below.

Transportation

Average monthly cost

Subway

CAD 65- CAD 99 (monthly pass)

Buses

CAD 100- CAD 150

Taxi (up to 1km)

C$ 2.00

Taxi 1-hour waiting (normal tariff)

C$34.00

One-way ticket (local transport)

C$ 3.25

Gasoline (1 litre)

C$1.59

Food Expenses in Canada

The average cost of living in Canada for international students is often in the range of CAD 200 to CAD 300 (INR 12,053 to INR 18,079) for food and other daily costs (excluding housing). You can refer to the following table for Canadian food expenses.

Milk (regular), 1 litre

C$ 2.76

Rice (white), 1 kg

C$ 4.40

Loaf of Fresh White Bread (500g)

C$ 3.27

Eggs (regular) (12)

C$ 4.29

Local cheese (1 kg)

C$1 4.79

Apples (1 kg)

C$ 5.06

Banana (1 kg)

C$ 1.86

Chicken Fillets (1 Kg)

C$ 14.86

Occasional Expenses in Canada

You may find that living in Canada occasionally requires you to pay for certain infrequent charges such as -

  • Purchasing prescription medicines that your health insurance does not cover.

  • Long-distance phone conversations with family & friends. A monthly mobile phone plan is C$55.36, which includes 10 GB or more of data and calls.

  • School materials.

  • When it comes to clothing, the typical price range for men's and women's clothing is between $45 and $150 (For high-end brands).

  • The basic utility costs for an average-sized flat (for exa,ple - 85 m2) with one or two rooms are C$199.25. These costs include garbage, water, heating, cooling, and electricity.

 

Health Insurance Expense in Canada

All international students who are studying in Canada are required to have health insurance. However, medical insurance coverage may vary based on province and how long they remain.

 

If students want to study in Saskatchewan, British Columbia, Newfoundland, Labrador, and New Brunswick, then their universities’ provincial health care policies will cover their health insurance.

 

But, if students want to study in Edward Island, Ontario, Nova Scotia, or Quebec, then they have to choose private health insurance. It is recommended that students review the university's official website for detailed information on health insurance. Overall, it is crucial to remember that Canadians may now access the country's free healthcare system.

 

Tax in Canada

When students decide to work after starting their studies in Canada, they will require a Social Insurance Number (SIN). It indicates that during the school year, students were permitted to work up to 20 hours a week during the school year, and during vacations, they were allowed to work full-time. However, their salary comes under the tax criteria. The average Canadian earns $250,000 a year, excluding taxes.

 

Explore, more: Intakes in Canada 

 

Education Cost in Canada for International Students

Compared to other countries like the USA and UK, studying in Canada is less expensive. The teaching is just as excellent. The average cost of a single year for a four-year degree program in Canada is $22,750 for students living on campus and $11,330 for those living at home. For more costly colleges, the fees might increase by $135,000 or $65,000.

 

However, the cost of education in Canada might vary depending on the university, subject, and tuition fees. Additionally, Canadian institutions update the cost of tuition for undergraduate and graduate programs annually. Therefore, before applying to universities, it is vital to verify their tuition costs. The average tuition costs in Canada for vario

Stream

UG Course Average Cost per year

PG Course Average Cost per year

Medicine

CA$ 33,000

Not Available

Pharmacy

CA$ 32,886

CA$ 10,500

Engineering

CA$ 26,582

CA$ 15,800

Architecture and related technologies

CA$ 22,100

CA$ 20,000

Nursing

CA$ 18,000

CA$ 12,000

Mathematics and Computer Science

CA$ 25,000

CA$ 13,000

Business Management

CA$ 23,500

CA$ 20,000

Law

CA$ 27,056

CA$ 20,000

University Tuition Fees in Canada for Undergraduate Courses

Check the tuition fees for undergraduate courses in Canada.

Undergraduate Courses

Tuition fee

Business

$ 56,000 (INR 34.7 lakhs)

Computers and IT

$ 55,000 (INR 34.1 lakhs)

Engineering and Technology

$ 55,000 (INR 34.1 lakhs)

Social and Natural Sciences

$53,000 to $56,000 (INR 32 lakhs to 34 lakhs)

University Tuition Fees in Canada for Postgraduate Courses

Check the tuition fees for postgraduate courses in Canada.

Postgraduate Courses

Tuition fee

Business

$ 52,700 (INR 32.7 lakhs)

Computers and IT

$ 52,500 (INR 32.6 lakhs)

Engineering and Technology

$ 52,500 (INR 32.6 lakhs)

Social and Natural Sciences

$37,000 to $58,300 (INR 22.9 lakhs to 36.2 lakhs)

Tuition Cost in Popular Universities in Canada

Below, you can check the tuition costs for popular universities in Canada.

University Name

Tuition Fees

University of Toronto

C$6,100 to C$67,430 per year

Memorial University of Newfoundland

$11,460 per annum

Humber College

$29,500 per year

University of Regina

$20,050 per year

Royal Roads University

$27,500 per year

Thompson River University

$35,650 per year

York University

C$7,153 to C$38,826 per year

Is Canada for Indian students quite high?

The cost of living index in cities across Canada ranges from 65 to 80, which is slightly better than the world average. The cost of living in Canada can be a bit higher than expected. Household expenses alone represent about 50% of your salary. With all the saving and investment aspects, you need to calculate your business money before writing a life plan in Canada.

 

Before moving to the country, the most noticeable question is, "What is the lowest cost of living in Canada?" Most people in Canada live on $250,000 a year, excluding taxes. They think it is more than enough to provide them with a comfortable life. However, this is not even close to what the average person in Canada earns. The average monthly net salary is $3,400 after tax deductions. So, ensure you have the financial backing before making your Canada plan.

  • The cost of a one-bedroom apartment downtown is $1,335 and out of town $1,120.

  • The cost of a 3-bedroom apartment downtown is $2,170 and out of town $1,820.

  • Toronto and Vancouver are the most expensive cities in the whole country. Rent has increased by 2.2% and now stands at $3,000 and $3,180 for a 2-bedroom house.

  • Cities like Halifax and Abbotsford have 2-bedroom rents hovering around $1300.

  • The cheapest city in Canada for rent is St. John's, where the rent for a 2-bedroom apartment is as low as $900.

 

Tips for Saving Money in Canada

When you are in an abroad country, it is essential to focus on saving money. Some people spend all their money on things like shopping and entertainment, and while that's a good thing, doing what you love, it's not wise to spend all your paycheck on other things and nothing. Here are some steps to help you save money in Canada:

 

  • Pay Your All Paycheck 

One of the first steps is to pay you. Most people pay their bills and buy things as soon as they get their paycheck, thinking they'll save later. The "later" never comes, and their savings are spent on other expenses. To avoid this, pay yourself first. From the start, keep a certain amount for yourself to save for future use. It could be 25% or your 80% salary - whatever you can afford to put aside. That doesn't mean cutting your luxury short. It only means safeguarding your future because things don't always stay the same.

 

  • Make a Spending Plan 

Make a spending plan for yourself. Allocate the amount you wish to spend on clothing, groceries, entertainment, etc. Prevent yourself from going beyond. Stick to the plan. When formulating how you want to spend your money, you automatically keep the money-saving factor in mind. Your idea revolves around meeting your savings needs, which is a smart way to save your money.

 

  • Open a Savings Account:

An unused savings account. Yes, you read that right. Open a bank account, put only your saved money into it, and don't use it. Put your money in it and forget it even exists. Live your life. Also, do it at the beginning of the month because, at that time, you are more likely to save. Prioritise savings instead of putting the crumbs remaining at your month's end. This bank account is your safe door. Even in the future, when you urgently need money, you will not be vulnerable. You have your savings to lean on. Saving is an early part of being in your twenties and continuously after that until you keep earning. Make sure you do it right.

 

  • Avoid Unnecessary Things Every Month

Sometimes, cut out some things. You don't have to buy new jeans every month. If you bought one in January, buy the next one around April. This is a necessary clause for students as they usually get carried away by their classmates. Don't fall into the "show-off" trap. Use your money for the things you need more than the things you want, at least sometimes. Cut out things that you can easily do without for four months but you buy every month. 

 

Conclusion

To sum up, knowing the average cost of living in Canada for overseas students is essential to living a comfortable life. Canada may have significantly higher living expenses than India despite its beautiful scenery, lively culture, and excellent educational system. Above, we have discussed the living expenses in Canada, accommodation, cost, education fees, and extra living expenses.

 

We hope the information above has helped you understand how much it costs to live in Canada. We hope you enjoyed this blog. If you would like to get a deeper insight into the standard of living in Canada, we encourage you to speak with our team of expert counsellors at Meridean Overseas Education Consultants (MOEC). Our counsellors will provide you with guidance throughout your study abroad. Get help with the application process, SOPs, and filing for a visa. Visit us and get one-to-one counselling, or avail yourself of free video counselling via our website. We will be happy to help you, so please do not hesitate to contact us at application02@meridean.org or 1800-1230-00011.

 

FAQs

Q. How should you manage your living expenses in Canada?

Ans. Once you have completed your enrollment at a Canadian institution, students can easily choose to start their part-time jobs and study concurrently. The cost of living in Canada for students can be managed by part-time jobs for people on campus and off campus. You cannot do a job for more than 20 hours a week. International students can also work for an extended era during vacations or holidays. They can also apply for study scholarships based on their performance at their current educational institutions.

 

Q. What is the cost of living in Canada on campus?

Ans. Studying abroad is much more expensive than staying in your home country. Generally, the cost of living in Canada is from INR 4,75,007 to INR 5,93,759 annually for On-campus.

 

Q. How much does education in Canada cost?

Ans. The cost of education in Canada depends on the course, university, and tuition. Universities revise their tuition fees yearly for international undergraduate and undergraduate students. Students must confirm tuition fees before applying to a university.

 

Q. How much money do you need to live comfortably in Canada?

Ans. Each individual has a different standard of living. Most Canadians enjoy a comfortable life at C$250,000 (INR 250,87514.65) annually. Overall, the cost of living in Canada is relatively high, and people considering moving here should consider how they will manage to finance themselves.

 

Q. What are the average living expenses of a single person in Canada per month?

Ans. The cost of living in Canada varies from city to city. However, the national average cost of living for one person is estimated at $2,730 (RS. 2, 73,955.66) per month.

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