Last update: Oct 2026

Cost of Living Comparison Between Toronto and Iqaluit, NU

For one person, living is cheaper in Toronto: $2,610 a month against $2,950 in Iqaluit, NU, rent and utilities included – about $4,100 less a year. Rent and utilities account for most of the difference.

126

Cost of Living Index in Toronto
Learn more

Toronto Living Index
143

Cost of Living Index in Iqaluit, NU
Learn more

Iqaluit, NU Living Index

Jump to prices

Toronto

🇨🇦 Canada

$2,610

/mo nomad

Iqaluit, NU

🇨🇦 Canada

$2,950

/mo nomad

Monthly Cost of Living

How much you'll spend in Toronto and in Iqaluit, NU

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

Monthly costs for one person with rent: $2,610 in Toronto versus $2,950 in Iqaluit, NU.

Toronto $2,610
Iqaluit, NU $2,950

Estimated couple costs with rent: $3,727 in Toronto versus $4,618 in Iqaluit, NU.

Toronto $3,727
Iqaluit, NU $4,618

Monthly costs for a family of three with rent: $4,844 in Toronto versus $6,286 in Iqaluit, NU.

Toronto $4,844
Iqaluit, NU $6,286

Living in Toronto costs roughly 12% less than in Iqaluit, NU, and outside of rent the biggest gap is in eating out.

Both cities are pricier than the global median: Toronto 93% above, Iqaluit, NU 118% above.

Meal at Budget Restaurant

$17.59 CA$24.87

$27.52 CA$38.91

-36.08%

Three-Course Dinner for Two, Mid-Range

$78.8 CA$111

$64.8 CA$91.6

21.60%

Fast Food Meal (McDonalds, etc)

$10.73 CA$15.16

$12.90 CA$18.24

-16.82%

Cappuccino

$4.09 CA$5.78

$7.04 CA$9.95

-41.90%

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

$2.10 CA$2.97

$3.63 CA$5.14

-42.15%

Water (0.33 liter bottle)

$1.72 CA$2.43

$1.63 CA$2.31

5.52%

Local Beer (0.5 liter draught)

$6.36 CA$8.99

$6.57 CA$9.29

-3.20%

Imported Beer (0.33 liter bottle)

$7.08 CA$10.01

$5.82 CA$8.23

21.65%

Milk (1 liter)

$2.54 CA$3.59

$2.42 CA$3.41

4.96%

White Bread (500g)

$2.72 CA$3.85

$2.52 CA$3.56

7.94%

Rice (white) (1kg)

$2.18 CA$3.09

$3.38 CA$4.78

-35.50%

Eggs

$3.63 CA$5.13

$3.45 CA$4.88

5.22%

Local Cheese (1kg)

$9.46 CA$13.37

$9.91 CA$14.01

-4.54%

Chicken Fillets (1kg)

$11.54 CA$16.32

$13.57 CA$19.19

-14.96%

Beef Round Steak (1kg)

$14.37 CA$20.32

$14.93 CA$21.10

-3.75%

Apples (1kg)

$3.70 CA$5.23

$3.67 CA$5.19

0.82%

Banana (1kg)

$1.19 CA$1.68

$1.27 CA$1.80

-6.30%

Oranges (1kg)

$3.46 CA$4.90

$3.68 CA$5.20

-5.98%

Tomato (1kg)

$4.22 CA$5.97

$3.87 CA$5.47

9.04%

Potato (1kg)

$1.79 CA$2.52

$2.42 CA$3.43

-26.03%

Onion (1kg)

$1.65 CA$2.33

$2.17 CA$3.06

-23.96%

Lettuce (1 head)

$2.20 CA$3.11

$2.46 CA$3.48

-10.57%

Water (1.5 liter bottle)

$1.26 CA$1.78

$1.60 CA$2.26

-21.25%

Cigarettes 20 Pack (Marlboro, Camel)

$13.97 CA$19.75

$13.78 CA$19.48

1.38%

Wine (Bottle)

$14.20 CA$20.07

$12.58 CA$17.79

12.88%

Local Beer (0.5 liter bottle)

$2.25 CA$3.18

$2.57 CA$3.63

-12.45%

Imported Beer (0.33 liter bottle)

$2.53 CA$3.58

$3.15 CA$4.45

-19.68%

One-way Ticket (Public Transport)

$2.32 CA$3.28

$2.33 CA$3.29

-0.43%

Public Transport Monthly Pass (Regular Price)

$112 CA$158

$61.3 CA$86.7

82.05%

Taxi Start (Normal Tariff)

$3.06 CA$4.33

$6.43 CA$9.09

-52.41%

Taxi (Normal Tariff) (1km)

$1.22 CA$1.72

$1.47 CA$2.08

-17.01%

Taxi 1hour Waiting (Normal Tariff)

$21.69 CA$30.66

$25.63 CA$36.23

-15.37%

Gasoline (1 liter)

$1.21 CA$1.72

$1.21 CA$1.71

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

$26.1K CA$37.0K

$37.2K CA$52.6K

-29.81%

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

$21.1K CA$29.9K

$31.3K CA$44.3K

-32.60%

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

$120 CA$169

$117 CA$166

2.12%

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

$32.21 CA$45.54

$38.21 CA$54.0

-15.70%

Internet (50+ Mbps, Unlimited Data)

$48.88 CA$69.1

$54.4 CA$76.8

-10.06%

Gym Membership (Monthly)

$39.34 CA$55.6

$41.12 CA$58.1

-4.33%

Tennis Court (1 Hour on Weekend)

$23.58 CA$33.34

$18.00 CA$25.45

31.00%

Cinema Ticket

$12.58 CA$17.79

$7.98 CA$11.28

57.64%

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

$832 CA$1,176

$698 CA$986

19.25%

International Primary School, 1 Child (Yearly)

$23.6K CA$33.4K

$13.2K CA$18.7K

78.92%

Jeans (Levis 501 Or Similar)

$52.3 CA$73.9

$52.9 CA$74.8

-1.15%

Summer Dress (H&M, Zara, etc)

$39.44 CA$55.8

$38.72 CA$54.7

1.86%

Sport Shoes (Adidas, Nike)

$99.0 CA$140

$84.5 CA$120

17.12%

Men's Leather Business Shoes

$122 CA$172

$103 CA$146

18.12%

1-bedroom Apartment, City Center (Monthly)

$1,631 CA$2,306

$1,834 CA$2,593

-11.04%

1-bedroom Apartment, Outside City Center (Monthly)

$1,448 CA$2,048

$1,701 CA$2,404

-14.83%

3-bedroom Apartment, City Center (Monthly)

$2,737 CA$3,869

$2,902 CA$4,103

-5.69%

3-bedroom Apartment, Outside City Center (Monthly)

$2,129 CA$3,010

$3,459 CA$4,890

-38.44%

Buy Apartment in City Center (m2)

$8,206 CA$11.6K

$4,284 CA$6,056

91.56%

Buy Apartment Outside City Center (m2)

$6,838 CA$9,666

$3,562 CA$5,035

91.99%

Average Monthly Net Salary (After Tax)

$3,520 CA$4,976

$4,205 CA$5,944

-16.29%

20-Year Fixed Mortgage Interest Rate (Annual %)

4.47

5.32

-15.98%

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

Last update for Toronto: October 18, 2026

Last update for Iqaluit, NU: October 18, 2026

Monthly budget structure

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

Accommodation & Living

Toronto

$1.4K 55.5%

Iqaluit, NU

$1.7K 57.6% 17.4% $252

Groceries & Markets

Toronto

$343 13.1%

Iqaluit, NU

$364 12.3% 6.2% $21

Eating Out

Toronto

$283 10.9%

Iqaluit, NU

$409 13.9% 44.4% $126

Monthly Utilities & Internet

Toronto

$201 7.7%

Iqaluit, NU

$210 7.1% 4.5% $9

Clothing & Footwear

Toronto

$141 5.4%

Iqaluit, NU

$126 4.3% 10.6% $15

Getting Around

Toronto

$130 5%

Iqaluit, NU

$84 2.9% 35.1% $46

Sport & Entertainment

Toronto

$65 2.5%

Iqaluit, NU

$57 1.9% 11.5% $7.4

Cost Breakdown

A one-bedroom apartment in the center runs $1,631 in Toronto and $1,834 in Iqaluit, NU. Housing cost is often the main lever when comparing two cities.

Iqaluit, NU pays 19% more on average. The extra income cushions the higher costs, though housing choices and lifestyle decide how much of the gap is truly closed.

Dining out: $79.0 in Toronto vs $65.0 in Iqaluit, NU. Groceries flip the comparison at $343 vs $364, with Toronto cheaper for home cooking.

Good to know

🇨🇦 Toronto

🇨🇦 Iqaluit, NU

🕒 Local time

16:31 4:31 PM

Same time as Toronto

🌤 Weather

👥 Population

2,731,571

8,000

💱 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

Lowest

Highest

Between locations

Toronto Iqaluit, NU 2,340 km ≈ 3 h 30 min nonstop flight

From you

Toronto
Iqaluit, NU

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 Iqaluit, NU: Cost of Living - Frequently Asked Questions

Toronto is cheaper overall, especially in groceries, eating out, and utilities. The 13% gap adds up to real monthly savings that compound significantly over time.

On paper, salaries run 19% lower in Iqaluit, NU. That's worth factoring in alongside costs, though remote workers earning in a stronger currency may not notice the difference at all.

Rent for a central apartment: $1,631 in Toronto versus $1,834 in Iqaluit, NU. Housing is usually the single largest factor when comparing overall living costs between the two.

Childcare runs $832 in Toronto versus $698 in Iqaluit, NU. Over years of preschool, even a modest monthly gap compounds into a major financial factor for families.

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

Both cities are expensive relative to $2,500. Toronto 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.

Expats usually find Toronto gentler on the wallet – expenses run 13% less than in Iqaluit, NU. Beyond cost, consider language, visa policies, and how big the international community is in each city.