BC
vs
ON
Victoria vs Waterloo Cost of Living (2026)
Victoria is about 14% more expensive than Waterloo, mostly because of rent. A 1-bedroom rents for $2,200 a month in Victoria vs $1,900 in Waterloo.
The Verdict
Living in Waterloo is 12% cheaper than living in Victoria overall.
Victoria / month
$2,750
Waterloo / month
$2,430
Rent, groceries and transit for one person.
Salary match: what you'd need to earn
Salary in Victoria
$100,000
Take-home $75,373 · $6,281/mo
Needed in Waterloo
$87,570
Take-home $65,487 · $5,457/mo
To keep the same lifestyle in Waterloo you'd need $12,430 less a year (−12%).
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.
Expense Breakdown
Average Rent
1-Bed City Center
Victoria
$2,200
14% cheaper
Waterloo
$1,900
Groceries
Monthly Basket (1 Person)
Victoria
$450
4% cheaper
Waterloo
$430
Transportation
Monthly Transit Pass
Victoria
$100
0% more expensive
Waterloo
$100
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