New York, NYToronto, Canada
You would need around 58.5% less money in Toronto, Canada to maintain the same standard of living you have in New York, NY.
Overall Cost of Living
Toronto, Canada is cheaper than New York, NY
1-Bed Rent (City Center)
Groceries (Monthly)
Average Net Salary
Editorial Insight: Planning a move from New York, NY to Toronto, Canada? Based on our verified data model, you are looking at a fantastic geo-arbitrage opportunity. Overall, the cost of living in Toronto, Canada is 58.5% cheaper. Housing is typically the biggest financial win—renting a 1-bedroom apartment in Toronto, Canada's center costs around 1,642 USD, which is a staggering 61.7% less than in New York, NY. If you are retaining a remote income, the Remote Wealth team ranks this as a highly strategic move for wealth accumulation.
Reviewed by the Remote Wealth Editorial Team
Our cost of living data for New York, NY and Toronto, Canada is compiled using our rigorous verification methodology. We combine millions of data points from reliable sources to ensure you get the most accurate financial comparison for your relocation.
Read more about our team →Salary Comparator
Find out exactly how much you need to earn in Toronto, Canada to maintain your current lifestyle in New York, NY.
You need in Toronto, Canada
2,249 USD
Geo-Arbitrage FIRE
Discover how moving to a cheaper city accelerates your Financial Independence and Retire Early (FIRE) timeline.
By moving from New York, NY to Toronto, Canada and investing the 59% cost of living difference, you could reach FIRE 8.8 years earlier.
Budget Simulator
Instantly adapt your New York, NY budget to local Toronto, Canada prices. We automatically adjust housing, groceries, and leisure categories.
Investment Planner
You save 2642 USD every month on rent alone by moving to Toronto, Canada.
Investing this rent difference in an S&P 500 index fund could grow to ~443,856 USD in 10 years.