Last update: Oct 2026

Cost of Living Comparison Between Toronto and Cold Lake

For one person, living is cheaper in Cold Lake: $1,912 a month against $2,561 in Toronto, rent and utilities included – about $7,800 less a year. Rent and utilities account for most of the difference.

125

Cost of Living Index in Toronto
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Toronto Living Index
93

Cost of Living Index in Cold Lake
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Cold Lake Living Index

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Toronto

🇨🇦 Canada

$2,561

/mo nomad

Cold Lake

🇨🇦 Canada

$1,912

/mo nomad

Monthly Cost of Living

How much you'll spend in Toronto and in Cold Lake

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

A single person spends $2,561 per month in Toronto vs $1,912 in Cold Lake, rent included.

Toronto $2,561
Cold Lake $1,912

A couple spends around $3,694 per month in Toronto vs $2,791 in Cold Lake, rent included.

Toronto $3,694
Cold Lake $2,791

A family of three spends $4,826 per month in Toronto vs $3,670 in Cold Lake, rent included.

Toronto $4,826
Cold Lake $3,670

Toronto costs about 34% more than Cold Lake, and outside of rent the biggest gap is in transport.

Both Toronto and Cold Lake sit above the global median – Toronto by 90%, Cold Lake by 42%.

Meal at Budget Restaurant

$17.18 CA$24.29

$19.96 CA$28.21

-13.93%

Three-Course Dinner for Two, Mid-Range

$76.0 CA$107

$57.5 CA$81.2

32.21%

Fast Food Meal (McDonalds, etc)

$10.54 CA$14.89

$9.67 CA$13.68

9.00%

Cappuccino

$4.02 CA$5.68

$3.82 CA$5.40

5.24%

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

$2.12 CA$3.00

$2.26 CA$3.19

-6.19%

Water (0.33 liter bottle)

$1.75 CA$2.48

$1.42 CA$2.01

23.24%

Local Beer (0.5 liter draught)

$6.24 CA$8.83

$5.57 CA$7.87

12.03%

Imported Beer (0.33 liter bottle)

$7.09 CA$10.02

$6.14 CA$8.68

15.47%

Milk (1 liter)

$2.44 CA$3.45

$1.16 CA$1.64

110.34%

White Bread (500g)

$2.68 CA$3.78

$2.18 CA$3.09

22.94%

Rice (white) (1kg)

$2.24 CA$3.17

$2.87 CA$4.06

-21.95%

Eggs

$3.56 CA$5.03

$3.07 CA$4.35

15.96%

Local Cheese (1kg)

$9.09 CA$12.85

$10.61 CA$14.99

-14.33%

Chicken Fillets (1kg)

$11.33 CA$16.01

$11.16 CA$15.77

1.52%

Beef Round Steak (1kg)

$14.53 CA$20.55

$18.77 CA$26.53

-22.59%

Apples (1kg)

$3.62 CA$5.12

$3.50 CA$4.94

3.43%

Banana (1kg)

$1.21 CA$1.72

$1.16 CA$1.64

4.31%

Oranges (1kg)

$3.60 CA$5.09

$2.81 CA$3.97

28.11%

Tomato (1kg)

$4.21 CA$5.96

$2.48 CA$3.50

69.76%

Potato (1kg)

$1.79 CA$2.53

$2.15 CA$3.04

-16.74%

Onion (1kg)

$1.59 CA$2.25

$1.06 CA$1.50

50.00%

Lettuce (1 head)

$2.27 CA$3.21

$2.33 CA$3.30

-2.58%

Water (1.5 liter bottle)

$1.25 CA$1.77

$1.75 CA$2.48

-28.57%

Cigarettes 20 Pack (Marlboro, Camel)

$13.82 CA$19.53

$11.94 CA$16.88

15.75%

Wine (Bottle)

$14.27 CA$20.18

$11.41 CA$16.14

25.07%

Local Beer (0.5 liter bottle)

$2.20 CA$3.10

$3.57 CA$5.05

-38.38%

Imported Beer (0.33 liter bottle)

$2.43 CA$3.44

$2.85 CA$4.03

-14.74%

One-way Ticket (Public Transport)

$2.39 CA$3.38

Public Transport Monthly Pass (Regular Price)

$111 CA$157

Taxi Start (Normal Tariff)

$2.91 CA$4.12

$2.92 CA$4.13

-0.34%

Taxi (Normal Tariff) (1km)

$1.20 CA$1.69

$1.38 CA$1.95

-13.04%

Taxi 1hour Waiting (Normal Tariff)

$21.38 CA$30.23

$20.67 CA$29.22

3.43%

Gasoline (1 liter)

$1.21 CA$1.71

$1.03 CA$1.45

17.48%

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

$28.2K CA$39.8K

$28.3K CA$40.0K

-0.31%

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

$20.3K CA$28.6K

$19.4K CA$27.4K

4.49%

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

$120 CA$170

$225 CA$318

-46.51%

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

$32.26 CA$45.60

$43.04 CA$60.8

-25.05%

Internet (50+ Mbps, Unlimited Data)

$47.93 CA$67.8

$54.3 CA$76.7

-11.65%

Gym Membership (Monthly)

$38.48 CA$54.4

Tennis Court (1 Hour on Weekend)

$22.96 CA$32.46

Cinema Ticket

$12.38 CA$17.50

$12.61 CA$17.82

-1.82%

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

$830 CA$1,173

$761 CA$1,075

9.11%

International Primary School, 1 Child (Yearly)

$23.1K CA$32.6K

$9,434 CA$13.3K

144.74%

Jeans (Levis 501 Or Similar)

$50.7 CA$71.7

$28.35 CA$40.08

78.87%

Summer Dress (H&M, Zara, etc)

$40.02 CA$56.6

$35.05 CA$49.55

14.18%

Sport Shoes (Adidas, Nike)

$98.0 CA$139

$51.5 CA$72.8

90.31%

Men's Leather Business Shoes

$121 CA$171

$85.9 CA$121

40.50%

1-bedroom Apartment, City Center (Monthly)

$1,592 CA$2,251

$860 CA$1,216

85.11%

1-bedroom Apartment, Outside City Center (Monthly)

$1,410 CA$1,994

$840 CA$1,188

67.81%

3-bedroom Apartment, City Center (Monthly)

$2,670 CA$3,775

$1,544 CA$2,183

72.92%

3-bedroom Apartment, Outside City Center (Monthly)

$2,152 CA$3,042

$1,397 CA$1,975

53.98%

Buy Apartment in City Center (m2)

$7,945 CA$11.2K

Buy Apartment Outside City Center (m2)

$6,542 CA$9,249

Average Monthly Net Salary (After Tax)

$3,727 CA$5,269

$3,084 CA$4,359

20.86%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.47

4.32

3.47%

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

Last update for Toronto: October 12, 2026

Last update for Cold Lake: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Toronto

$1.4K 55.1%

Cold Lake

$840 44% 40.4% $570

Groceries & Markets

Toronto

$340 13.3%

Cold Lake

$335 17.5% 1.5% $5.2

Eating Out

Toronto

$278 10.9%

Cold Lake

$289 15.1% 4% $11

Monthly Utilities & Internet

Toronto

$201 7.8%

Cold Lake

$322 16.9% 60.7% $122

Clothing & Footwear

Toronto

$139 5.4%

Cold Lake

$90 4.7% 35.1% $49

Getting Around

Toronto

$129 5.1%

Cold Lake

$9.8 * 0.5% 92.4% $120

Sport & Entertainment

Toronto

$63 2.5%

Cold Lake

$25 * 1.3% 60.1% $38

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

Cost Breakdown

A central one-bedroom costs $1,592 in Toronto versus $860 in Cold Lake. 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 21% higher in Toronto, 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 $76.0 in Toronto versus $57.0 in Cold Lake. Monthly groceries follow the same trend: $340 vs $335 – making Cold Lake the more affordable choice for daily food spending.

Good to know

🇨🇦 Toronto

🇨🇦 Cold Lake

🕒 Local time

15:42 3:42 PM

13:42 1:42 PM

2 h behind Toronto

🌤 Weather

👥 Population

2,731,571

11,595

💱 Currency

Canadian Dollar CAD $

📈 Exchange rate

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

Exchange rates and currency converter

On the map

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Between locations

Toronto Cold Lake 2,520 km ≈ 3 h 45 min nonstop flight

From you

Toronto
Cold Lake

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

Toronto vs Cold Lake: Cost of Living - Frequently Asked Questions

Yes – Toronto is pricier by about 34%, and outside of rent the gap shows up most in transport.

For a comfortable life, plan on about $3,841 per month in Toronto and $2,868 in Cold Lake. That covers rent, food, utilities, transport, and enough left over to feel settled – not just surviving.

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

Monthly expenses with rent come to $2,561 in Toronto and $1,912 in Cold Lake. That's a gap of about 34%.

Kindergarten costs $830 per month in Toronto and $761 in Cold Lake. For families with young kids, this one expense can tip the scales when choosing between the two cities.

A $2,500 monthly budget goes further in Cold Lake, where all-in costs run around $1,912, than in Toronto at $2,561. In Cold Lake it covers expenses comfortably, while in Toronto it requires careful planning or may not stretch far enough.

Families tend to lean toward Cold Lake – lower housing and cheaper childcare make a real difference, especially on a single income or when paying for private education.

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