Last update: Oct 2026

Cost of Living Comparison Between Montreal and Banff

For one person, living is cheaper in Montreal: $2,064 a month against $2,211 in Banff, rent and utilities included – about $1,800 less a year. Rent and utilities account for most of the difference.

99

Cost of Living Index in Montreal
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Montreal Living Index
107

Cost of Living Index in Banff
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Banff Living Index

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Montreal

🇨🇦 Canada

$2,064

/mo nomad

Banff

🇨🇦 Canada

$2,211

/mo nomad

Monthly Cost of Living

How much you'll spend in Montreal and in Banff

Real prices from locals and on-the-ground checks – rent, groceries, transit and the daily extras. Here's what a month in Montreal and in Banff actually costs, broken down by who's living it.

Monthly costs for one person with rent: $2,064 in Montreal versus $2,211 in Banff.

Montreal $2,064
Banff $2,211

Estimated couple costs with rent: $3,156 in Montreal versus $3,898 in Banff.

Montreal $3,156
Banff $3,898

Monthly costs for a family of three with rent: $4,247 in Montreal versus $5,584 in Banff.

Montreal $4,247
Banff $5,584

Living in Montreal costs roughly 7% less than in Banff, and outside of rent the biggest gap is in utilities.

Both cities are pricier than the global median: Montreal 52% above, Banff 62% above.

Meal at Budget Restaurant

$18.98 CA$26.64

$20.99 CA$29.46

-9.58%

Three-Course Dinner for Two, Mid-Range

$73.0 CA$102

$67.5 CA$94.7

8.15%

Fast Food Meal (McDonalds, etc)

$10.88 CA$15.27

$10.62 CA$14.90

2.45%

Cappuccino

$3.81 CA$5.35

$3.99 CA$5.60

-4.51%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$1.94 CA$2.72

$1.74 CA$2.44

11.49%

Water (0.33 liter bottle)

$1.58 CA$2.22

$1.88 CA$2.64

-15.96%

Local Beer (0.5 liter draught)

$6.37 CA$8.94

$4.92 CA$6.91

29.47%

Imported Beer (0.33 liter bottle)

$7.26 CA$10.20

$5.54 CA$7.78

31.05%

Milk (1 liter)

$2.23 CA$3.13

$2.16 CA$3.03

3.24%

White Bread (500g)

$3.17 CA$4.45

$2.42 CA$3.40

30.99%

Rice (white) (1kg)

$3.31 CA$4.64

$4.46 CA$6.25

-25.78%

Eggs

$3.63 CA$5.09

$3.54 CA$4.97

2.54%

Local Cheese (1kg)

$13.16 CA$18.47

$9.98 CA$14.00

31.86%

Chicken Fillets (1kg)

$11.56 CA$16.22

$12.50 CA$17.54

-7.52%

Beef Round Steak (1kg)

$13.71 CA$19.25

$13.32 CA$18.70

2.93%

Apples (1kg)

$3.29 CA$4.62

$3.28 CA$4.60

0.30%

Banana (1kg)

$1.46 CA$2.05

$1.35 CA$1.89

8.15%

Oranges (1kg)

$3.37 CA$4.73

$2.73 CA$3.83

23.44%

Tomato (1kg)

$3.15 CA$4.42

$4.65 CA$6.53

-32.26%

Potato (1kg)

$1.89 CA$2.65

$3.58 CA$5.03

-47.21%

Onion (1kg)

$1.79 CA$2.52

$3.01 CA$4.23

-40.53%

Lettuce (1 head)

$2.47 CA$3.47

$3.28 CA$4.61

-24.70%

Water (1.5 liter bottle)

$1.58 CA$2.22

$1.74 CA$2.45

-9.20%

Cigarettes 20 Pack (Marlboro, Camel)

$11.28 CA$15.84

$11.68 CA$16.39

-3.42%

Wine (Bottle)

$10.49 CA$14.73

$14.05 CA$19.72

-25.34%

Local Beer (0.5 liter bottle)

$2.34 CA$3.28

$3.14 CA$4.41

-25.48%

Imported Beer (0.33 liter bottle)

$2.91 CA$4.09

$3.50 CA$4.91

-16.86%

One-way Ticket (Public Transport)

$2.61 CA$3.66

$1.46 CA$2.05

78.77%

Public Transport Monthly Pass (Regular Price)

$79.1 CA$111

$21.51 CA$30.18

267.88%

Taxi Start (Normal Tariff)

$3.26 CA$4.57

$3.66 CA$5.14

-10.93%

Taxi (Normal Tariff) (1km)

$1.44 CA$2.02

$2.82 CA$3.95

-48.94%

Taxi 1hour Waiting (Normal Tariff)

$33.43 CA$46.92

$21.62 CA$30.33

54.63%

Gasoline (1 liter)

$1.33 CA$1.87

$1.04 CA$1.46

27.88%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$28.6K CA$40.2K

$24.8K CA$34.8K

15.35%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$21.1K CA$29.6K

$19.6K CA$27.4K

7.87%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$80.1 CA$112

$176 CA$248

-54.63%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$34.30 CA$48.14

$49.13 CA$69.0

-30.19%

Internet (50+ Mbps, Unlimited Data)

$42.85 CA$60.1

$66.2 CA$92.9

-35.24%

Gym Membership (Monthly)

$31.14 CA$43.71

$51.6 CA$72.4

-39.62%

Tennis Court (1 Hour on Weekend)

$19.41 CA$27.24

Cinema Ticket

$11.23 CA$15.76

$10.66 CA$14.97

5.35%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$525 CA$737

$891 CA$1,251

-41.09%

International Primary School, 1 Child (Yearly)

$16.3K CA$22.9K

$3,563 CA$5,000

358.33%

Jeans (Levis 501 Or Similar)

$58.0 CA$81.4

$48.35 CA$67.9

19.96%

Summer Dress (H&M, Zara, etc)

$38.11 CA$53.5

$51.9 CA$72.8

-26.57%

Sport Shoes (Adidas, Nike)

$93.4 CA$131

$76.5 CA$107

22.10%

Men's Leather Business Shoes

$110 CA$155

$119 CA$168

-7.71%

1-bedroom Apartment, City Center (Monthly)

$1,285 CA$1,803

$1,055 CA$1,481

21.76%

1-bedroom Apartment, Outside City Center (Monthly)

$977 CA$1,371

$1,000 CA$1,403

-2.32%

3-bedroom Apartment, City Center (Monthly)

$2,271 CA$3,187

$1,780 CA$2,499

27.54%

3-bedroom Apartment, Outside City Center (Monthly)

$1,665 CA$2,336

$2,924 CA$4,103

-43.06%

Buy Apartment in City Center (m2)

$5,139 CA$7,212

$3,744 CA$5,254

37.27%

Buy Apartment Outside City Center (m2)

$3,834 CA$5,381

$3,390 CA$4,757

13.12%

Average Monthly Net Salary (After Tax)

$3,002 CA$4,213

$2,778 CA$3,899

8.06%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.48

4.85

-7.63%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Montreal: October 25, 2026

Last update for Banff: October 24, 2026

Monthly budget structure

Share of the monthly basket for one person, rent included.

Accommodation & Living

Montreal

$977 47.3%

Banff

$1,000 45.2% 2.4% $23

Groceries & Markets

Montreal

$351 17%

Banff

$371 16.8% 5.5% $19

Eating Out

Montreal

$291 14.1%

Banff

$298 13.5% 2.4% $7.1

Monthly Utilities & Internet

Montreal

$157 7.6%

Banff

$292 13.2% 85.6% $135

Clothing & Footwear

Montreal

$135 6.5%

Banff

$133 6% 1.2% $1.6

Getting Around

Montreal

$100 4.9%

Banff

$45 2% 54.9% $55

Sport & Entertainment

Montreal

$54 2.6%

Banff

$73 3.3% 36% $19

Cost Breakdown

A one-bedroom apartment in the center runs $1,285 in Montreal and $1,055 in Banff. Housing cost is often the main lever when comparing two cities.

Montreal pays 8% more on average while also being the cheaper of the two. The combined effect is a noticeably stronger local purchasing power.

Dining out: $73 in Montreal vs $67 in Banff. Groceries flip the comparison at $351 vs $371, with Montreal cheaper for home cooking.

Good to know

🇨🇦 Montreal

🇨🇦 Banff

🕒 Local time

16:28 4:28 PM

14:28 2:28 PM

2 h behind Montreal

🌤 Weather

👥 Population

1,762,949

8,000

💱 Currency

Canadian Dollar CAD $

📈 Exchange rate

1 CAD = 0.713 USD

1 CAD = 0.64 EUR

1 CAD = 0.713 USD

1 CAD = 0.64 EUR

Exchange rates and currency converter

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Between locations

Montreal Banff 3,120 km ≈ 4 h 30 min nonstop flight

From you

Montreal
Banff

Distances are measured in a straight line. Your location is detected approximately.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Montreal vs Banff: Cost of Living - Frequently Asked Questions

Total monthly costs including rent come to $2,064 in Montreal and $2,211 in Banff, so Montreal is about 7% cheaper – a gap that matters a lot on a fixed or modest income.

Average pay runs 8% higher in Montreal, which matters when comparing affordability. Whether that higher income actually nets you more depends on your spending habits and housing choices.

Rent for a central apartment: $1,285 in Montreal versus $1,055 in Banff. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $525 in Montreal versus $891 in Banff. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

Supermarket bills run roughly 6% higher in Banff. For households that cook at home regularly, that difference adds up over a month.

Both cities are expensive relative to $2,000. Montreal is the more realistic option, but even there you’ll need to be disciplined with housing, food, and fun money.

Both cities offer a good standard of living with different trade-offs. Neither is objectively better – the right pick depends on what matters most: affordability, career, cultural scene, or climate.