New York City vs Toronto — Cost of Living
Rent, overall costs and the equivalent salary you'd need to keep your lifestyle.
| New York City | Toronto | |
|---|---|---|
| Overall cost index | 100 | 80 |
| Rent index | 100 | 78 |
| 1-bed city-centre rent | $3,800 | $2,500 |
A $60,000 lifestyle in New York City needs about
$48,000
in Toronto (cost-of-living parity, before tax)
New York City
One of the most expensive US cities, driven almost entirely by housing.
Toronto
Canada's largest job market with high rents, though below Vancouver.
Remember that cost of living is only half the story — tax differs too. Check take-home pay with the United States calculator and Canada calculator, or use the interactive comparator.
Frequently Asked Questions
+Is Toronto cheaper than New York City?
Toronto has an overall cost-of-living index of 80 versus New York City's 100, so it is cheaper by roughly 20%, driven largely by rent.
+What salary do I need in Toronto to match New York City?
To maintain a $60,000 lifestyle from New York City, you'd need roughly $48,000 in Toronto, based on cost-of-living parity (before tax differences).
Estimate only — not tax advice. Figures are estimates based on publicly available tax rules and may not reflect your full circumstances. See our methodology & sources (last reviewed June 2026). Always confirm with an official tax authority or a licensed adviser before making decisions.