location_city ON vs location_city ON

Toronto vs Waterloo Cost of Living (2026)

Toronto is about 33% more expensive than Waterloo, mostly because of rent. A 1-bedroom rents for $2,600 a month in Toronto vs $1,900 in Waterloo.

The Verdict

Living in Waterloo is 25% cheaper than living in Toronto overall.

Toronto / month

$3,206

Waterloo / month

$2,430

Rent, groceries and transit for one person.

Your salary in Toronto $

Salary in Toronto

$100,000

Take-home $74,206 · $6,184/mo

Needed in Waterloo

$74,956

Take-home $56,896 · $4,741/mo

To keep the same lifestyle in Waterloo you'd need $25,044 less a year (−25%).

Take-home is after 2026 federal and provincial income tax, CPP/QPP and EI for an employee. Cost of living weighs rent, groceries and transit.

real_estate_agent

1-Bed City Center

Toronto

$2,600

27% cheaper

Waterloo

$1,900

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Monthly Basket (1 Person)

Toronto

$450

4% cheaper

Waterloo

$430

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Monthly Transit Pass

Toronto

$156

36% cheaper

Waterloo

$100

Keep going