Cost of Living in Canada for International Students & Family in 2024
Canada is known exquisitely for its marvellous natural landscape, amazing standard of living, and warm hospitality. Bordered by the United States, it is the world’s second-largest country. The diverse culture and excellent facilities attract many students and working-class people from across the globe.
It is also home to many top-notch colleges, such as the University of Toronto, the University of Alberta, and the University of British Columbia, which offer excellent education to their students.
So, before you move, it's essential to know the cost of living in Canada and all the expected costs. Continue reading to learn more relevant details.
Average Cost of Living in Canada for International Students
The education system in Canada is to brag as it consists of quality yet affordable education and excellent globally recognised colleges that offer excellent education.
Below is a breakdown of the typical living costs for international students in Canada:
Average Cost of Living in Canada for Bachelors, Couples & Families
Understanding the average cost of living in Canada helps with financial planning, especially if you want to settle in Canada with your spouse or children.
The table below will help you plan your finances accordingly:
Cost of Living in Major Cities in Canada
Here is an overview of the average cost of living in some of the top cities in Canada:
Cost of Living in Toronto
Cost of Living in Montreal
Cost of Living in Vancouver
Cost of Living in Calgary
Cost of Living in Edmonton
Factors Impacting the Cost of Living in Canada
Several factors influence the cost of living in Canada:
Location
Cities like Vancouver and Toronto are expensive as the standard of living is also relatively high. Besides that, Canada is a safe country, and the good standard of living attracts many people and students every year.
Lifestyle
Expenses on food and entertainment are major areas that can be kept in check, as there are many free fun activities you can do that do not cost money.
Housing
Living expenses in Canada can get a little high as the standard of living is generally higher. This is why most international students find part-time jobs to afford reasonable accommodations in Canada.
Transportation
Public transportation is relatively cheap, and you can save money by riding a bike or taking a public bus. You can also walk around to explore places, as that is also quite safe.
Utilities and Groceries
Prices for food and other necessities may differ from place to place. Exported products are usually more expensive than locally produced ones.
What is the Average Income in Canada?
The income needed to live comfortably in Canada varies based on individual circumstances:
- Student: A student typically needs CAD 1250 to CAD 200 per month to live comfortably.
- Bachelor: An income of CAD 1500 to CAD 2,500 per month is enough to cover basic expenses for a single person.
- Couple: A couple usually requires a combined income of CAD 4,200 to CAD 5,800 monthly to live comfortably.
- Families: A family of four may need an income of CAD 6,500 to CAD 7,800 per month for families.
The table below mentions some of the highest-paying jobs in Canada, along with their salaries:
How Expensive is Canada Compared to Other Countries?
Canada is known for its excellent quality of living, offering multiple benefits to people looking to settle there. Due to the higher standard of living, it can get a little more expensive if you are looking to live comfortably there, especially in main cities like Vancouver and Toronto.
Below is a comparison of living costs between Canada and other major cities:
Tips for Reducing the Cost of Living in Canada
Here are some tips to help reduce the average cost of living in Canada:
Among students and bachelors, sharing an apartment with others can drastically lower rent prices.
Canada offers relatively cheap public transport that can be utilised while travelling across the city. Additionally, you can cycle or walk to many places to save quite an amount.
Buying foods and groceries from local markets can be cheaper than the supermarkets. You also share groceries with your flatmates to further reduce costs.
When you decide to leave the apartment or flat, make sure to switch off all the electrical appliances. Try keeping windows open during summer for natural air inflow to reduce air conditioning usage.
Preparing your meals at home is cheaper than eating out. To save some extra money, try limiting takeout and eating at restaurants.
Canada offers many budget-friendly leisure activities, such as visiting parks and museums (which offer free entry on certain days).
Canada offers a range of entertainment options for bachelors, couples, and families, but you need to use these smartly to ensure that you have fun while staying within budget. Though Canada is moderately expensive, there are many ways to save money and enjoy the city while you are there.
This article provides all the necessary information about the average cost of living in Canada so that you can make informed decisions and manage your expenses effectively.
