Last update: Oct 2026

Cost of Living Comparison Between Montreal and Waterloo, IA

For one person, living is cheaper in Waterloo, IA: $1,795 a month against $2,018 in Montreal, rent and utilities included – about $2,700 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
87

Cost of Living Index in Waterloo, IA
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Waterloo, IA Living Index

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Montreal

🇨🇦 Canada

$2,018

/mo nomad

Waterloo, IA

🇺🇸 United States

$1,795

/mo nomad

Monthly Cost of Living

How much you'll spend in Montreal and in Waterloo, IA

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

A single person spends $2,018 per month in Montreal vs $1,795 in Waterloo, IA, rent included.

Montreal $2,018
Waterloo, IA $1,795

A couple spends around $3,085 per month in Montreal vs $2,528 in Waterloo, IA, rent included.

Montreal $3,085
Waterloo, IA $2,528

A family of three spends $4,152 per month in Montreal vs $3,261 in Waterloo, IA, rent included.

Montreal $4,152
Waterloo, IA $3,261

Montreal costs about 12% more than Waterloo, IA, and outside of rent the biggest gap is in transport.

Both Montreal and Waterloo, IA sit above the global median – Montreal by 49%, Waterloo, IA by 33%.

Meal at Budget Restaurant

$18.82 CA$26.61

$16.07 $16.07

17.11%

Three-Course Dinner for Two, Mid-Range

$70.3 CA$99.4

$56.6 $56.6

24.14%

Fast Food Meal (McDonalds, etc)

$10.66 CA$15.06

$9.13 $9.13

16.76%

Cappuccino

$3.84 CA$5.43

$5.83 $5.83

-34.13%

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

$1.92 CA$2.71

$2.72 $2.72

-29.41%

Water (0.33 liter bottle)

$1.54 CA$2.18

$2.03 $2.03

-24.14%

Local Beer (0.5 liter draught)

$6.23 CA$8.81

$3.96 $3.96

57.32%

Imported Beer (0.33 liter bottle)

$7.10 CA$10.03

$8.16 $8.16

-12.99%

Milk (1 liter)

$2.31 CA$3.27

$0.99 $0.99

133.33%

White Bread (500g)

$3.14 CA$4.44

$2.41 $2.41

30.29%

Rice (white) (1kg)

$3.21 CA$4.54

$1.66 $1.66

93.37%

Eggs

$3.52 CA$4.97

$3.64 $3.64

-3.30%

Local Cheese (1kg)

$12.81 CA$18.11

$13.07 $13.07

-1.99%

Chicken Fillets (1kg)

$11.46 CA$16.20

$13.02 $13.02

-11.98%

Beef Round Steak (1kg)

$13.39 CA$18.92

$17.68 $17.68

-24.26%

Apples (1kg)

$3.14 CA$4.43

$4.73 $4.73

-33.62%

Banana (1kg)

$1.44 CA$2.03

$1.61 $1.61

-10.56%

Oranges (1kg)

$3.47 CA$4.91

$3.83 $3.83

-9.40%

Tomato (1kg)

$3.07 CA$4.34

$4.38 $4.38

-29.91%

Potato (1kg)

$1.90 CA$2.69

$1.10 $1.10

72.73%

Onion (1kg)

$1.77 CA$2.50

$2.16 $2.16

-18.06%

Lettuce (1 head)

$2.34 CA$3.31

$1.92 $1.92

21.87%

Water (1.5 liter bottle)

$1.55 CA$2.19

$1.59 $1.59

-2.52%

Cigarettes 20 Pack (Marlboro, Camel)

$11.38 CA$16.09

$7.91 $7.91

43.87%

Wine (Bottle)

$10.63 CA$15.03

$13.83 $13.83

-23.14%

Local Beer (0.5 liter bottle)

$2.27 CA$3.21

$2.69 $2.69

-15.61%

Imported Beer (0.33 liter bottle)

$2.82 CA$3.99

$1.79 $1.79

57.54%

One-way Ticket (Public Transport)

$2.66 CA$3.76

Public Transport Monthly Pass (Regular Price)

$77.3 CA$109

Taxi Start (Normal Tariff)

$3.20 CA$4.53

$3.90 $3.90

-17.95%

Taxi (Normal Tariff) (1km)

$1.48 CA$2.09

$1.94 $1.94

-23.71%

Taxi 1hour Waiting (Normal Tariff)

$32.88 CA$46.48

$43.17 $43.17

-23.84%

Gasoline (1 liter)

$1.34 CA$1.90

$0.95 $0.95

41.05%

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

$28.2K CA$39.8K

$35.3K $35.3K

-20.15%

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

$19.6K CA$27.8K

$25.1K $25.1K

-21.67%

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

$76.0 CA$107

$149 $149

-48.94%

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

$33.95 CA$48.00

$53.2 $53.2

-36.17%

Internet (50+ Mbps, Unlimited Data)

$42.31 CA$59.8

$60.6 $60.6

-30.20%

Gym Membership (Monthly)

$29.76 CA$42.07

$27.11 $27.11

9.77%

Tennis Court (1 Hour on Weekend)

$20.28 CA$28.67

Cinema Ticket

$11.15 CA$15.77

$15.12 $15.12

-26.26%

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

$507 CA$717

$1,706 $1,706

-70.28%

International Primary School, 1 Child (Yearly)

$16.1K CA$22.7K

$23.1K $23.1K

-30.58%

Jeans (Levis 501 Or Similar)

$57.6 CA$81.4

$19.78 $19.78

190.95%

Summer Dress (H&M, Zara, etc)

$37.58 CA$53.1

$14.89 $14.89

152.38%

Sport Shoes (Adidas, Nike)

$91.9 CA$130

$60.4 $60.4

52.15%

Men's Leather Business Shoes

$110 CA$155

$78.9 $78.9

38.83%

1-bedroom Apartment, City Center (Monthly)

$1,260 CA$1,782

$860 $860

46.59%

1-bedroom Apartment, Outside City Center (Monthly)

$948 CA$1,340

$740 $740

28.03%

3-bedroom Apartment, City Center (Monthly)

$2,137 CA$3,021

$1,368 $1,368

56.25%

3-bedroom Apartment, Outside City Center (Monthly)

$1,614 CA$2,281

$943 $943

71.17%

Buy Apartment in City Center (m2)

$4,960 CA$7,011

$1,511 $1,511

228.14%

Buy Apartment Outside City Center (m2)

$3,838 CA$5,425

$1,473 $1,473

160.54%

Average Monthly Net Salary (After Tax)

$2,827 CA$3,997

$3,948 $3,948

-28.38%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.48

6.69

-33.03%

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

Last update for Montreal: October 12, 2026

Last update for Waterloo, IA: October 11, 2026

Monthly budget structure

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

Accommodation & Living

Montreal

$948 47%

Waterloo, IA

$740 41.2% 21.9% $207

Groceries & Markets

Montreal

$346 17.2%

Waterloo, IA

$362 20.2% 4.5% $16

Eating Out

Montreal

$288 14.3%

Waterloo, IA

$281 15.7% 2.4% $6.8

Monthly Utilities & Internet

Montreal

$152 7.5%

Waterloo, IA

$263 14.6% 72.5% $110

Clothing & Footwear

Montreal

$133 6.6%

Waterloo, IA

$78 4.4% 41.3% $55

Getting Around

Montreal

$99 4.9%

Waterloo, IA

$14 * 0.8% 86.2% $85

Sport & Entertainment

Montreal

$52 2.6%

Waterloo, IA

$57 3.2% 10.2% $5.3

Categories marked with * are only partly priced – their share counts the items that do have prices.

Cost Breakdown

A central one-bedroom costs $1,260 in Montreal versus $860 in Waterloo, IA. 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 40% higher in Waterloo, IA, which reinforces the cost advantage – you earn more and spend less. Purchasing power leans clearly in its favor.

A mid-range dinner for two costs $70.0 in Montreal versus $57.0 in Waterloo, IA. Groceries tell a different story – $346 in Montreal vs $362 in Waterloo, IA – so Montreal wins on supermarket bills even if dining out costs more.

Good to know

🇨🇦 Montreal

🇺🇸 Waterloo, IA

🕒 Local time

16:23 4:23 PM

15:23 3:23 PM

1 h behind Montreal

🌤 Weather

👥 Population

1,762,949

67,314

💱 Currency

Canadian Dollar CAD $

United States Dollar USD $

📈 Exchange rate

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

1 USD = 0.89 EUR

Exchange rates and currency converter

USD, EUR to CAD – Canadian Dollar Converter

🇺🇸 United States Dollar ($)

🇨🇦 Canadian Dollar ($)

Canadian Dollar exchange rates as of October 19, 2026: 1 USD = 1.41 CAD (1 CAD = 0.707 USD). 1 EUR = 1.59 CAD (1 CAD = 0.629 EUR).

United States Dollar exchange rates as of October 19, 2026: 1 EUR = 1.12 USD (1 USD = 0.89 EUR).

USD to CAD in detail →

On the map

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Between locations

Montreal Waterloo, IA 1,530 km ≈ 2 h 30 min nonstop flight

From you

Montreal
Waterloo, IA

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, IA: Cost of Living - Frequently Asked Questions

Montreal costs about 12% more than Waterloo, IA, and outside of rent the gap comes mainly from transport. That's enough to noticeably affect everyday spending and lifestyle for anyone choosing between the two.

For a comfortable life, plan on about $3,027 per month in Montreal and $2,693 in Waterloo, IA. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

Rent is clearly cheaper in Waterloo, IA, especially for central apartments. Housing is actually the single biggest factor behind the overall cost gap between these two cities.

A mid-range dinner for two costs $70.0 in Montreal and $57.0 in Waterloo, IA. That's a good indicator of the overall restaurant and café pricing gap between the two cities.

Interestingly, groceries are about 4% cheaper in Montreal – one category where the pricier city actually offers better value, probably thanks to stronger retail competition or local farming.

A $2,500 monthly budget goes further in Waterloo, IA, where all-in costs run around $1,795, than in Montreal at $2,018. In Waterloo, IA it covers expenses comfortably, while in Montreal it requires careful planning or may not stretch far enough.

For digital nomads, it depends on budget. Waterloo, IA costs $1,795 versus $2,018 in Montreal. Both have workable remote work infrastructure, but the cost gap matters when income varies month to month.

Both have safer and rougher neighborhoods, but overall safety is comparable to other large cities. Neighborhood choice matters more than the city-level comparison – central, well-trafficked areas feel secure in both.

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