Last update: Oct 2026

Cost of Living Comparison Between Waterloo, IA and Montreal

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.

87

Cost of Living Index in Waterloo, IA
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Waterloo, IA Living Index
99

Cost of Living Index in Montreal
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Montreal Living Index

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Waterloo, IA

🇺🇸 United States

$1,795

/mo nomad

Montreal

🇨🇦 Canada

$2,018

/mo nomad

Monthly Cost of Living

How much you'll spend in Waterloo, IA 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, IA and in Montreal actually costs, broken down by who's living it.

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

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

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

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

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

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

Waterloo, IA is about 11% cheaper than Montreal, and outside of rent the biggest gap is in transport.

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

Meal at Budget Restaurant

$16.07 $16.07

$18.82 CA$26.61

-14.61%

Three-Course Dinner for Two, Mid-Range

$56.6 $56.6

$70.3 CA$99.4

-19.45%

Fast Food Meal (McDonalds, etc)

$9.13 $9.13

$10.66 CA$15.06

-14.35%

Cappuccino

$5.83 $5.83

$3.84 CA$5.43

51.82%

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

$2.72 $2.72

$1.92 CA$2.71

41.67%

Water (0.33 liter bottle)

$2.03 $2.03

$1.54 CA$2.18

31.82%

Local Beer (0.5 liter draught)

$3.96 $3.96

$6.23 CA$8.81

-36.44%

Imported Beer (0.33 liter bottle)

$8.16 $8.16

$7.10 CA$10.03

14.93%

Milk (1 liter)

$0.99 $0.99

$2.31 CA$3.27

-57.14%

White Bread (500g)

$2.41 $2.41

$3.14 CA$4.44

-23.25%

Rice (white) (1kg)

$1.66 $1.66

$3.21 CA$4.54

-48.29%

Eggs

$3.64 $3.64

$3.52 CA$4.97

3.41%

Local Cheese (1kg)

$13.07 $13.07

$12.81 CA$18.11

2.03%

Chicken Fillets (1kg)

$13.02 $13.02

$11.46 CA$16.20

13.61%

Beef Round Steak (1kg)

$17.68 $17.68

$13.39 CA$18.92

32.04%

Apples (1kg)

$4.73 $4.73

$3.14 CA$4.43

50.64%

Banana (1kg)

$1.61 $1.61

$1.44 CA$2.03

11.81%

Oranges (1kg)

$3.83 $3.83

$3.47 CA$4.91

10.37%

Tomato (1kg)

$4.38 $4.38

$3.07 CA$4.34

42.67%

Potato (1kg)

$1.10 $1.10

$1.90 CA$2.69

-42.11%

Onion (1kg)

$2.16 $2.16

$1.77 CA$2.50

22.03%

Lettuce (1 head)

$1.92 $1.92

$2.34 CA$3.31

-17.95%

Water (1.5 liter bottle)

$1.59 $1.59

$1.55 CA$2.19

2.58%

Cigarettes 20 Pack (Marlboro, Camel)

$7.91 $7.91

$11.38 CA$16.09

-30.49%

Wine (Bottle)

$13.83 $13.83

$10.63 CA$15.03

30.10%

Local Beer (0.5 liter bottle)

$2.69 $2.69

$2.27 CA$3.21

18.50%

Imported Beer (0.33 liter bottle)

$1.79 $1.79

$2.82 CA$3.99

-36.52%

One-way Ticket (Public Transport)

$2.66 CA$3.76

Public Transport Monthly Pass (Regular Price)

$77.3 CA$109

Taxi Start (Normal Tariff)

$3.90 $3.90

$3.20 CA$4.53

21.87%

Taxi (Normal Tariff) (1km)

$1.94 $1.94

$1.48 CA$2.09

31.08%

Taxi 1hour Waiting (Normal Tariff)

$43.17 $43.17

$32.88 CA$46.48

31.30%

Gasoline (1 liter)

$0.95 $0.95

$1.34 CA$1.90

-29.10%

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

$35.3K $35.3K

$28.2K CA$39.8K

25.24%

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

$25.1K $25.1K

$19.6K CA$27.8K

27.66%

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

$149 $149

$76.0 CA$107

95.85%

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

$53.2 $53.2

$33.95 CA$48.00

56.67%

Internet (50+ Mbps, Unlimited Data)

$60.6 $60.6

$42.31 CA$59.8

43.28%

Gym Membership (Monthly)

$27.11 $27.11

$29.76 CA$42.07

-8.90%

Tennis Court (1 Hour on Weekend)

$20.28 CA$28.67

Cinema Ticket

$15.12 $15.12

$11.15 CA$15.77

35.61%

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

$1,706 $1,706

$507 CA$717

236.53%

International Primary School, 1 Child (Yearly)

$23.1K $23.1K

$16.1K CA$22.7K

44.05%

Jeans (Levis 501 Or Similar)

$19.78 $19.78

$57.6 CA$81.4

-65.63%

Summer Dress (H&M, Zara, etc)

$14.89 $14.89

$37.58 CA$53.1

-60.38%

Sport Shoes (Adidas, Nike)

$60.4 $60.4

$91.9 CA$130

-34.28%

Men's Leather Business Shoes

$78.9 $78.9

$110 CA$155

-27.97%

1-bedroom Apartment, City Center (Monthly)

$860 $860

$1,260 CA$1,782

-31.78%

1-bedroom Apartment, Outside City Center (Monthly)

$740 $740

$948 CA$1,340

-21.89%

3-bedroom Apartment, City Center (Monthly)

$1,368 $1,368

$2,137 CA$3,021

-36.00%

3-bedroom Apartment, Outside City Center (Monthly)

$943 $943

$1,614 CA$2,281

-41.58%

Buy Apartment in City Center (m2)

$1,511 $1,511

$4,960 CA$7,011

-69.53%

Buy Apartment Outside City Center (m2)

$1,473 $1,473

$3,838 CA$5,425

-61.62%

Average Monthly Net Salary (After Tax)

$3,948 $3,948

$2,827 CA$3,997

39.64%

20-Year Fixed Mortgage Interest Rate (Annual %)

6.69

4.48

49.33%

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

Last update for Waterloo, IA: October 11, 2026

Last update for Montreal: October 12, 2026

Monthly budget structure

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

Accommodation & Living

Waterloo, IA

$740 41.2%

Montreal

$948 47% 28% $207

Groceries & Markets

Waterloo, IA

$362 20.2%

Montreal

$346 17.2% 4.3% $16

Eating Out

Waterloo, IA

$281 15.7%

Montreal

$288 14.3% 2.4% $6.8

Monthly Utilities & Internet

Waterloo, IA

$263 14.6%

Montreal

$152 7.5% 42% $110

Clothing & Footwear

Waterloo, IA

$78 4.4%

Montreal

$133 6.6% 70.5% $55

Sport & Entertainment

Waterloo, IA

$57 3.2%

Montreal

$52 2.6% 9.2% $5.3

Getting Around

Waterloo, IA

$14 * 0.8%

Montreal

$99 4.9% 624% $85

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

Cost Breakdown

A central one-bedroom costs $860 in Waterloo, IA versus $1,260 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 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 $57.0 in Waterloo, IA versus $70.0 in Montreal. Groceries tell a different story – $362 in Waterloo, IA vs $346 in Montreal – so Montreal wins on supermarket bills even if dining out costs more.

Good to know

🇺🇸 Waterloo, IA

🇨🇦 Montreal

🕒 Local time

14:51 2:51 PM

15:51 3:51 PM

1 h ahead of Waterloo, IA

🌤 Weather

👥 Population

67,314

1,762,949

💱 Currency

United States Dollar USD $

Canadian Dollar CAD $

📈 Exchange rate

1 USD = 0.89 EUR

1 CAD = 0.707 USD

1 CAD = 0.629 EUR

Exchange rates and currency converter

CAD, EUR to USD – United States Dollar Converter

🇨🇦 Canadian Dollar ($)

🇺🇸 United States Dollar ($)

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

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).

CAD to USD in detail →

On the map

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Between locations

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

From you

Waterloo, IA
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, IA vs Montreal: 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 $2,693 per month in Waterloo, IA and $3,027 in Montreal. 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 $57.0 in Waterloo, IA and $70.0 in Montreal. 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.