Last update: Oct 2026

Cost of Living Comparison Between Montreal and Waterloo, Canada

Name: Waterloo
Address: Waterloo, CA

For one person, living is cheaper in Montreal: $2,064 a month against $2,234 in Waterloo, rent and utilities included – about $2,000 less a year. Higher rent and utilities in Waterloo outweigh lower spending on other living expenses.

99

Cost of Living Index in Montreal
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Montreal Living Index
107

Cost of Living Index in Waterloo
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Waterloo Living Index

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Montreal

🇨🇦 Canada

$2,064

/mo nomad

Waterloo

🇨🇦 Canada

$2,234

/mo nomad

Monthly Cost of Living

How much you'll spend in Montreal and in Waterloo

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 Waterloo actually costs, broken down by who's living it.

A single person spends $2,064 per month in Montreal vs $2,234 in Waterloo, rent included.

Montreal $2,064
Waterloo $2,234

A couple spends around $3,156 per month in Montreal vs $3,295 in Waterloo, rent included.

Montreal $3,156
Waterloo $3,295

A family of three spends $4,247 per month in Montreal vs $4,356 in Waterloo, rent included.

Montreal $4,247
Waterloo $4,356

Montreal is about 8% cheaper than Waterloo, and outside of rent the biggest gap is in leisure.

Both Montreal and Waterloo sit above the global median – Montreal by 52%, Waterloo by 64%.

Meal at Budget Restaurant

$18.98 CA$26.52

$17.55 CA$24.52

8.15%

Three-Course Dinner for Two, Mid-Range

$73.0 CA$102

$57.2 CA$79.9

27.57%

Fast Food Meal (McDonalds, etc)

$10.88 CA$15.20

$10.71 CA$14.97

1.59%

Cappuccino

$3.81 CA$5.33

$3.18 CA$4.45

19.81%

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

$1.94 CA$2.71

$1.95 CA$2.73

-0.51%

Water (0.33 liter bottle)

$1.58 CA$2.21

$1.24 CA$1.73

27.42%

Local Beer (0.5 liter draught)

$6.37 CA$8.90

$5.13 CA$7.17

24.17%

Imported Beer (0.33 liter bottle)

$7.26 CA$10.15

$5.76 CA$8.05

26.04%

Milk (1 liter)

$2.23 CA$3.11

$2.04 CA$2.85

9.31%

White Bread (500g)

$3.17 CA$4.43

$2.49 CA$3.48

27.31%

Rice (white) (1kg)

$3.31 CA$4.62

$2.47 CA$3.44

34.01%

Eggs

$3.63 CA$5.07

$2.92 CA$4.08

24.32%

Local Cheese (1kg)

$13.16 CA$18.38

$11.35 CA$15.86

15.95%

Chicken Fillets (1kg)

$11.56 CA$16.15

$15.00 CA$20.96

-22.93%

Beef Round Steak (1kg)

$13.71 CA$19.16

$16.02 CA$22.38

-14.42%

Apples (1kg)

$3.29 CA$4.60

$3.46 CA$4.83

-4.91%

Banana (1kg)

$1.46 CA$2.04

$1.29 CA$1.81

13.18%

Oranges (1kg)

$3.37 CA$4.70

$3.19 CA$4.46

5.64%

Tomato (1kg)

$3.15 CA$4.40

$3.42 CA$4.78

-7.89%

Potato (1kg)

$1.89 CA$2.64

$1.39 CA$1.94

35.97%

Onion (1kg)

$1.79 CA$2.50

$1.92 CA$2.68

-6.77%

Lettuce (1 head)

$2.47 CA$3.45

$1.66 CA$2.32

48.80%

Water (1.5 liter bottle)

$1.58 CA$2.21

$1.22 CA$1.71

29.51%

Cigarettes 20 Pack (Marlboro, Camel)

$11.28 CA$15.77

$12.80 CA$17.88

-11.88%

Wine (Bottle)

$10.49 CA$14.66

$9.80 CA$13.69

7.04%

Local Beer (0.5 liter bottle)

$2.34 CA$3.26

$2.61 CA$3.64

-10.34%

Imported Beer (0.33 liter bottle)

$2.91 CA$4.07

$2.69 CA$3.76

8.18%

One-way Ticket (Public Transport)

$2.61 CA$3.65

$2.88 CA$4.03

-9.38%

Public Transport Monthly Pass (Regular Price)

$79.1 CA$111

$75.6 CA$106

4.64%

Taxi Start (Normal Tariff)

$3.26 CA$4.55

$2.47 CA$3.45

31.98%

Taxi (Normal Tariff) (1km)

$1.44 CA$2.01

$1.81 CA$2.54

-20.44%

Taxi 1hour Waiting (Normal Tariff)

$33.43 CA$46.71

$28.17 CA$39.36

18.67%

Gasoline (1 liter)

$1.33 CA$1.86

$1.19 CA$1.67

11.76%

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

$28.6K CA$40.0K

$26.9K CA$37.6K

6.42%

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

$21.1K CA$29.5K

$20.6K CA$28.7K

2.56%

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

$80.1 CA$112

$147 CA$205

-45.36%

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

$34.30 CA$47.92

$27.82 CA$38.86

23.29%

Internet (50+ Mbps, Unlimited Data)

$42.85 CA$59.9

$42.76 CA$59.7

0.21%

Gym Membership (Monthly)

$31.14 CA$43.51

$33.77 CA$47.19

-7.79%

Tennis Court (1 Hour on Weekend)

$19.41 CA$27.11

$19.23 CA$26.86

0.94%

Cinema Ticket

$11.23 CA$15.69

$10.90 CA$15.22

3.03%

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

$525 CA$734

$444 CA$620

18.30%

International Primary School, 1 Child (Yearly)

$16.3K CA$22.8K

$15.7K CA$21.9K

4.26%

Jeans (Levis 501 Or Similar)

$58.0 CA$81.0

$64.4 CA$90.0

-9.98%

Summer Dress (H&M, Zara, etc)

$38.11 CA$53.2

$32.79 CA$45.82

16.22%

Sport Shoes (Adidas, Nike)

$93.4 CA$131

$81.9 CA$114

14.04%

Men's Leather Business Shoes

$110 CA$154

$76.6 CA$107

43.82%

1-bedroom Apartment, City Center (Monthly)

$1,285 CA$1,795

$1,443 CA$2,016

-10.93%

1-bedroom Apartment, Outside City Center (Monthly)

$977 CA$1,364

$1,141 CA$1,594

-14.41%

3-bedroom Apartment, City Center (Monthly)

$2,271 CA$3,173

$2,161 CA$3,019

5.10%

3-bedroom Apartment, Outside City Center (Monthly)

$1,665 CA$2,326

$1,905 CA$2,661

-12.59%

Buy Apartment in City Center (m2)

$5,139 CA$7,180

$5,280 CA$7,377

-2.67%

Buy Apartment Outside City Center (m2)

$3,834 CA$5,357

$4,609 CA$6,440

-16.81%

Average Monthly Net Salary (After Tax)

$3,002 CA$4,194

$3,129 CA$4,371

-4.05%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.48

5.22

-14.18%

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

Last update for Montreal: October 25, 2026

Last update for Waterloo: October 27, 2026

Monthly budget structure

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

Accommodation & Living

Montreal

$977 47.3%

Waterloo

$1.1K 51.1% 16.8% $164

Groceries & Markets

Montreal

$351 17%

Waterloo

$346 15.5% 1.4% $4.9

Eating Out

Montreal

$291 14.1%

Waterloo

$261 11.7% 10.3% $30

Monthly Utilities & Internet

Montreal

$157 7.6%

Waterloo

$217 9.7% 38.1% $60

Clothing & Footwear

Montreal

$135 6.5%

Waterloo

$115 5.2% 14.7% $20

Getting Around

Montreal

$100 4.9%

Waterloo

$99 4.4% 1.3% $1.3

Sport & Entertainment

Montreal

$54 2.6%

Waterloo

$56 2.5% 3.7% $2

Cost Breakdown

A central one-bedroom costs $1,285 in Montreal versus $1,443 in Waterloo. Rent is usually the largest line item in a monthly budget, so the gap here sets the tone for the overall comparison.

Salaries run about 4% higher in Waterloo, which partly offsets the higher cost of living there. Purchasing power depends on which expenses matter most to you.

A mid-range dinner for two costs $73 in Montreal versus $57 in Waterloo. Monthly groceries follow the same trend: $351 vs $346 – making Waterloo the more affordable choice for daily food spending.

Good to know

🇨🇦 Montreal

🇨🇦 Waterloo

🕒 Local time

00:35 12:35 AM

Same time as Montreal

🌤 Weather

👥 Population

1,762,949

121,436

💱 Currency

Canadian Dollar CAD $

📈 Exchange rate

1 CAD = 0.716 USD

1 CAD = 0.641 EUR

1 CAD = 0.716 USD

1 CAD = 0.641 EUR

Exchange rates and currency converter

On the map

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Between locations

Montreal Waterloo 600 km ≈ 1 h 15 min nonstop flight

From you

Montreal
Waterloo

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 Waterloo: Cost of Living - Frequently Asked Questions

Waterloo costs about 8% more than Montreal, and outside of rent the gap comes mainly from leisure. That’s enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $3,096 per month in Montreal and $3,352 in Waterloo. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Montreal, especially for central apartments: a one-bedroom in the center costs $1,285 there versus $1,443 in Waterloo.

A mid-range dinner for two costs $73 in Montreal and $57 in Waterloo. That’s a good indicator of the overall restaurant and café pricing gap between the two cities.

Public transport costs about 4% less in Waterloo. For daily commuters, that gap adds up to noticeable savings over a year.

$2,000 is a stretch for both – monthly costs hit $2,064 in Montreal and $2,234 in Waterloo. You’ll need shared housing and careful budgeting no matter which city you pick.

It depends on your priorities. Montreal has an edge in some lifestyle areas, with costs from $2,064 in Montreal to $2,234 in Waterloo. Climate, culture, job market, and personal taste all factor in.

If budget matters most, go with Montreal. If higher salaries or specific career opportunities are the priority, Waterloo makes more sense. Both are solid long-term options with distinct trade-offs.