Last update: Oct 2026

Cost of Living Comparison Between Waterloo, Canada and Montreal

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.

107

Cost of Living Index in Waterloo
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Waterloo Living Index
99

Cost of Living Index in Montreal
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Montreal Living Index

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Waterloo

🇨🇦 Canada

$2,234

/mo nomad

Montreal

🇨🇦 Canada

$2,064

/mo nomad

Monthly Cost of Living

How much you'll spend in Waterloo and in Montreal

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

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

Waterloo $2,234
Montreal $2,064

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

Waterloo $3,295
Montreal $3,156

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

Waterloo $4,356
Montreal $4,247

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

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

Meal at Budget Restaurant

$17.55 CA$24.52

$18.98 CA$26.53

-7.53%

Three-Course Dinner for Two, Mid-Range

$57.2 CA$79.9

$73.0 CA$102

-21.61%

Fast Food Meal (McDonalds, etc)

$10.71 CA$14.97

$10.88 CA$15.20

-1.56%

Cappuccino

$3.18 CA$4.45

$3.81 CA$5.33

-16.54%

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

$1.95 CA$2.73

$1.94 CA$2.71

0.52%

Water (0.33 liter bottle)

$1.24 CA$1.73

$1.58 CA$2.21

-21.52%

Local Beer (0.5 liter draught)

$5.13 CA$7.17

$6.37 CA$8.90

-19.47%

Imported Beer (0.33 liter bottle)

$5.76 CA$8.05

$7.26 CA$10.15

-20.66%

Milk (1 liter)

$2.04 CA$2.85

$2.23 CA$3.11

-8.52%

White Bread (500g)

$2.49 CA$3.48

$3.17 CA$4.44

-21.45%

Rice (white) (1kg)

$2.47 CA$3.44

$3.31 CA$4.62

-25.38%

Eggs

$2.92 CA$4.08

$3.63 CA$5.07

-19.56%

Local Cheese (1kg)

$11.35 CA$15.86

$13.16 CA$18.39

-13.75%

Chicken Fillets (1kg)

$15.00 CA$20.96

$11.56 CA$16.15

29.76%

Beef Round Steak (1kg)

$16.02 CA$22.39

$13.71 CA$19.16

16.85%

Apples (1kg)

$3.46 CA$4.83

$3.29 CA$4.60

5.17%

Banana (1kg)

$1.29 CA$1.81

$1.46 CA$2.04

-11.64%

Oranges (1kg)

$3.19 CA$4.46

$3.37 CA$4.71

-5.34%

Tomato (1kg)

$3.42 CA$4.78

$3.15 CA$4.40

8.57%

Potato (1kg)

$1.39 CA$1.94

$1.89 CA$2.64

-26.46%

Onion (1kg)

$1.92 CA$2.68

$1.79 CA$2.51

7.26%

Lettuce (1 head)

$1.66 CA$2.32

$2.47 CA$3.45

-32.79%

Water (1.5 liter bottle)

$1.22 CA$1.71

$1.58 CA$2.21

-22.78%

Cigarettes 20 Pack (Marlboro, Camel)

$12.80 CA$17.88

$11.28 CA$15.77

13.48%

Wine (Bottle)

$9.80 CA$13.69

$10.49 CA$14.66

-6.58%

Local Beer (0.5 liter bottle)

$2.61 CA$3.64

$2.34 CA$3.26

11.54%

Imported Beer (0.33 liter bottle)

$2.69 CA$3.76

$2.91 CA$4.07

-7.56%

One-way Ticket (Public Transport)

$2.88 CA$4.03

$2.61 CA$3.65

10.34%

Public Transport Monthly Pass (Regular Price)

$75.6 CA$106

$79.1 CA$111

-4.44%

Taxi Start (Normal Tariff)

$2.47 CA$3.45

$3.26 CA$4.56

-24.23%

Taxi (Normal Tariff) (1km)

$1.81 CA$2.54

$1.44 CA$2.01

25.69%

Taxi 1hour Waiting (Normal Tariff)

$28.17 CA$39.37

$33.43 CA$46.71

-15.73%

Gasoline (1 liter)

$1.19 CA$1.67

$1.33 CA$1.86

-10.53%

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

$26.9K CA$37.6K

$28.6K CA$40.0K

-6.04%

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

$20.6K CA$28.7K

$21.1K CA$29.5K

-2.50%

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

$147 CA$205

$80.1 CA$112

83.01%

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

$27.82 CA$38.87

$34.30 CA$47.93

-18.89%

Internet (50+ Mbps, Unlimited Data)

$42.76 CA$59.8

$42.85 CA$59.9

-0.21%

Gym Membership (Monthly)

$33.77 CA$47.19

$31.14 CA$43.52

8.45%

Tennis Court (1 Hour on Weekend)

$19.23 CA$26.87

$19.41 CA$27.12

-0.93%

Cinema Ticket

$10.90 CA$15.23

$11.23 CA$15.69

-2.94%

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

$444 CA$620

$525 CA$734

-15.47%

International Primary School, 1 Child (Yearly)

$15.7K CA$21.9K

$16.3K CA$22.8K

-4.09%

Jeans (Levis 501 Or Similar)

$64.4 CA$90.0

$58.0 CA$81.0

11.09%

Summer Dress (H&M, Zara, etc)

$32.79 CA$45.82

$38.11 CA$53.3

-13.96%

Sport Shoes (Adidas, Nike)

$81.9 CA$114

$93.4 CA$131

-12.31%

Men's Leather Business Shoes

$76.6 CA$107

$110 CA$154

-30.47%

1-bedroom Apartment, City Center (Monthly)

$1,443 CA$2,016

$1,285 CA$1,796

12.27%

1-bedroom Apartment, Outside City Center (Monthly)

$1,141 CA$1,594

$977 CA$1,365

16.83%

3-bedroom Apartment, City Center (Monthly)

$2,161 CA$3,019

$2,271 CA$3,173

-4.85%

3-bedroom Apartment, Outside City Center (Monthly)

$1,905 CA$2,661

$1,665 CA$2,326

14.40%

Buy Apartment in City Center (m2)

$5,280 CA$7,378

$5,139 CA$7,181

2.74%

Buy Apartment Outside City Center (m2)

$4,609 CA$6,441

$3,834 CA$5,358

20.21%

Average Monthly Net Salary (After Tax)

$3,129 CA$4,372

$3,002 CA$4,195

4.22%

20-Year Fixed Mortgage Interest Rate (Annual %)

5.22

4.48

16.52%

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

Last update for Waterloo: October 27, 2026

Last update for Montreal: October 25, 2026

Monthly budget structure

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

Accommodation & Living

Waterloo

$1.1K 51.1%

Montreal

$977 47.3% 14.4% $164

Groceries & Markets

Waterloo

$346 15.5%

Montreal

$351 17% 1.4% $4.9

Eating Out

Waterloo

$261 11.7%

Montreal

$291 14.1% 11.5% $30

Monthly Utilities & Internet

Waterloo

$217 9.7%

Montreal

$157 7.6% 27.6% $60

Clothing & Footwear

Waterloo

$115 5.2%

Montreal

$135 6.5% 17.2% $20

Getting Around

Waterloo

$99 4.4%

Montreal

$100 4.9% 1.3% $1.3

Sport & Entertainment

Waterloo

$56 2.5%

Montreal

$54 2.6% 3.5% $2

Cost Breakdown

A central one-bedroom costs $1,443 in Waterloo versus $1,285 in Montreal. 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 $57 in Waterloo versus $73 in Montreal. Monthly groceries follow the same trend: $346 vs $351 – making Waterloo the more affordable choice for daily food spending.

Good to know

🇨🇦 Waterloo

🇨🇦 Montreal

🕒 Local time

09:13 9:13 AM

Same time as Waterloo

🌤 Weather

👥 Population

121,436

1,762,949

💱 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

Waterloo Montreal 600 km ≈ 1 h 15 min nonstop flight

From you

Waterloo
Montreal

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

Waterloo vs Montreal: 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 $3,352 per month in Waterloo and $3,096 in Montreal. 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 $57 in Waterloo and $73 in Montreal. 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 $2,234 in Waterloo and $2,064 in Montreal. 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.