Want to Explore Your Mortgage Options in Ontario?

360Lending is an award-winning mortgage brokerage based in Richmond Hill, Ontario. Over 2,000 homeowners in Ontario have given us 5-star reviews and we have an A+ rating from the Better Business Bureau.

We help homeowners get the lowest rates for home equity loans, home equity lines of credit, refinancing, and other mortgage products.

To explore your mortgage options, click here to schedule a call with our team.

Canada is home to some of the most vibrant and dynamic cities in the world. From the bustling streets of Toronto to the coastal beauty of Vancouver, these urban hubs attract thousands of people each year with their cultural opportunities, job markets, and quality of life. However, all of this comes at a price. Some of Canada’s largest cities have seen real estate prices soar to staggering heights, making them some of the most expensive places to live in the country.

If you’re considering moving to one of these cities, here’s a breakdown of the 7 most expensive cities to live in Canada, including both home prices and living costs. From rent to groceries and utilities, we’ll show you what it really costs to live in these urban centers.

1. Vancouver, British Columbia

• Single-Family Home Price: Approx. $1.8 million

• Average Monthly Rent for 1-Bedroom Apartment: $2,500

• Utilities (Electricity, Heating, Water, Garbage): $150 - $250

• Groceries (Monthly): $350 - $500

Vancouver is often regarded as the most expensive city in Canada, and for good reason. The combination of its stunning scenery, mild climate, and international appeal has made it a sought-after destination for both locals and newcomers. With a single-family home costing around $1.8 million, Vancouver's real estate market continues to be out of reach for many.

In addition to sky-high home prices, living costs in Vancouver are also notably high. Rent for a 1-bedroom apartment can easily exceed $2,500 per month, and everyday expenses like utilities and groceries can add up quickly. Monthly utilities generally cost between $150 to $250, while grocery bills can range from $350 to $500, depending on the household size.

2. Toronto, Ontario

• Single-Family Home Price: Approx. $1.7 million

• Average Monthly Rent for 1-Bedroom Apartment: $2,300

• Utilities (Electricity, Heating, Water, Garbage): $150 - $250

• Groceries (Monthly): $350 - $500

Toronto, Canada’s largest city, is a hub for finance, business, and culture. With so much economic activity, it's no surprise that housing prices are high. The average price of a single-family home in Toronto is around $1.7 million, and the housing market has remained competitive, especially in sought-after neighborhoods like Yorkville and Forest Hill.

Renting in Toronto is no bargain either. A one-bedroom apartment in the city center typically costs $2,300 a month. Utilities can add another $150 to $250 to your monthly expenses, and groceries are generally priced similarly to Vancouver, with a monthly grocery bill ranging from $350 to $500 for a typical household.

3. Victoria, British Columbia

• Single-Family Home Price: Approx. $1.2 million

• Average Monthly Rent for 1-Bedroom Apartment: $1,800

• Utilities (Electricity, Heating, Water, Garbage): $120 - $200

• Groceries (Monthly): $300 - $450

Victoria, located on Vancouver Island, may be smaller than Vancouver, but it’s just as expensive. The city’s proximity to the water, beautiful natural surroundings, and laid-back lifestyle make it an attractive place to live, especially for retirees and those looking to escape Vancouver’s high costs. A typical single-family home in Victoria will set you back around $1.2 million.

While rent is somewhat more affordable compared to Vancouver and Toronto, a 1-bedroom apartment still costs about $1,800 per month. Utility costs in Victoria are a bit lower, typically ranging from $120 to $200 a month, and groceries are on par with Vancouver and Toronto, ranging from $300 to $450 for a family of two.

4. Kelowna, British Columbia

• Single-Family Home Price: Approx. $1.1 million

• Average Monthly Rent for 1-Bedroom Apartment: $1,600

• Utilities (Electricity, Heating, Water, Garbage): $150 - $250

• Groceries (Monthly): $350 - $450

Kelowna is known for its wine country, warm summers, and breathtaking lakeside views. It’s a popular spot for people looking to relocate from larger cities like Vancouver, driving up the demand for housing. The average price of a single-family home in Kelowna is approximately $1.1 million, with prices having risen sharply in recent years.

Rent in Kelowna is also high. A 1-bedroom apartment typically costs around $1,600 per month. Monthly utilities, including electricity, heating, water, and garbage, will set you back between $150 and $250. Like many other cities in Canada, groceries cost about $350 to $450 per month for a typical household.

5. Ottawa, Ontario

• Single-Family Home Price: Approx. $750,000

• Average Monthly Rent for 1-Bedroom Apartment: $1,800

• Utilities (Electricity, Heating, Water, Garbage): $150 - $200

• Groceries (Monthly): $300 - $450

Ottawa, Canada’s capital city, offers a unique blend of history, culture, and a strong job market, especially in the public sector. While it doesn’t have the same jaw-dropping real estate prices as Toronto or Vancouver, Ottawa’s housing market is still quite expensive. The average price of a single-family home in Ottawa is around $750,000, making it more affordable than some of Canada’s other major cities but still a significant financial commitment.

Rent for a 1-bedroom apartment in Ottawa typically runs about $1,800 per month. Utilities range between $150 to $200, and grocery expenses are also in the same range as in other large cities—approximately $300 to $450 for a couple or small family.

6. Montreal, Quebec

• Single-Family Home Price: Approx. $600,000

• Average Monthly Rent for 1-Bedroom Apartment: $1,300

• Utilities (Electricity, Heating, Water, Garbage): $120 - $200

• Groceries (Monthly): $300 - $450

Montreal is known for its cultural vibrancy, affordable lifestyle, and stunning architecture, making it one of the most unique cities in Canada. Compared to cities like Vancouver and Toronto, the real estate market in Montreal remains relatively more affordable, with the average price of a single-family home coming in at around $600,000.

Renting in Montreal is also more affordable, with a 1-bedroom apartment typically costing $1,300 per month. Utility bills are relatively inexpensive, generally ranging from $120 to $200 per month. Like other major cities, grocery costs are in the range of $300 to $450 monthly.

7. Calgary, Alberta

• Single-Family Home Price: Approx. $570,000

• Average Monthly Rent for 1-Bedroom Apartment: $1,400

• Utilities (Electricity, Heating, Water, Garbage): $150 - $250

• Groceries (Monthly): $300 - $450

Calgary, Alberta's largest city, offers an attractive balance of relatively lower housing prices compared to Vancouver and Toronto. With the average single-family home priced at around $570,000, Calgary remains one of the more affordable cities among Canada’s largest urban centers. That said, the city's real estate market has been showing signs of growth, largely driven by a recovering economy.

Renting a 1-bedroom apartment in Calgary will typically cost you $1,400 per month, with utilities running between $150 to $250. Grocery bills in Calgary are about the same as in other cities on this list, with costs ranging from $300 to $450 per month.

Most Expensive Cities to Live in Canada

Canada’s housing markets have become increasingly expensive, especially in cities like Vancouver, Toronto, and Victoria. These cities dominate the list of the most expensive places to live in the country, and while they offer an unparalleled lifestyle, they also come with a significant financial commitment.

If you’re looking to live in one of these cities, be prepared for sky-high home prices, rising rent costs, and everyday living expenses. However, despite the steep costs, these cities offer thriving job markets, cultural diversity, and high quality of life that attract people from around the world.

On the other hand, if you’re looking for more affordable options, cities like Montreal and Calgary offer competitive pricing without sacrificing lifestyle or opportunities. Whether you’re planning to rent or buy, understanding the cost of living in these cities will help you make an informed decision about where to live in Canada.