How much does it cost to move out in Toronto?

The total upfront cost to move out in Toronto typically ranges from CA$6,250 to CA$10,000, depending on your apartment and setup needs. This includes first month's rent (CA$2,500), security deposit (if required), and move-in essentials.

What salary do I need to rent an apartment in Toronto?

Following the 30% rule, you'd need a monthly income of at least CA$8,333 (CA$100,000/year) to comfortably afford the average 1BR in Toronto. Many landlords require proof of income 2-3x the monthly rent.

Is Toronto expensive to live in?

Toronto has a cost of living index of 140 compared to the US average of 100. This means it's 40% more expensive than the national average. Housing is the biggest factor, with average rents of CA$2,500/month for a 1BR.

How much should I save before moving to Toronto?

We recommend saving at least CA$12,500 to CA$17,500 before moving to Toronto. This covers upfront costs (CA$6,250-CA$8,750) plus a 2-3 month emergency fund.

What are the hidden costs of moving to Toronto?

Beyond rent and deposit, budget for: utilities setup (CA$150/month), internet (~CA$70/month), renters insurance (~CA$20/month), moving costs (CA$200-CA$1,500), and household essentials (CA$500-CA$2,000).

Can I afford to live alone in Toronto?

To live alone in Toronto, you need a stable income of at least CA$100,000/year and savings of CA$12,500+. If your income is lower, consider getting a roommate - this can reduce your housing costs by 30-40% and make Toronto more affordable.

What is the average rent in Toronto in 2026?

As of 2026, the average rent in Toronto is CA$2,500/month for a 1-bedroom apartment and CA$3,200/month for a 2-bedroom. Prices vary by neighborhood - areas outside the city center tend to be 10-20% cheaper.

How much is a security deposit in Toronto?

Security deposits are limited or not commonly required in Toronto. Additionally, most landlords require last month's rent upfront, adding another CA$2,500 to your move-in costs.

Is Toronto a good place for first-time renters?

Toronto can be challenging for first-time renters due to high costs. Consider starting with roommates or looking at more affordable neighborhoods. Use our calculator to determine if Toronto fits your budget.

How long does it take to save to move out in Toronto?

If you can save CA$1,250/month, you'll need about 10 months to save enough for Toronto. With more aggressive saving (CA$2,000/month), you could be ready in 7 months. Our calculator shows your personalized timeline.

CanadaCost Index: 140High Cost

Toronto, ON Move Out Calculator: How Much Do You Need to Move Out?

Planning to move out in Toronto? Find out exactly how much money you need with our free move-out calculator. In Toronto, the average 1-bedroom apartment costs CA$2,500/month, you'll need approximately CA$7,500 in upfront costs, and a minimum salary of CA$100,000/year to live comfortably. Toronto is considered a high cost city - use the calculator below to get your personalized budget.