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Toronto Salary Calculator

In Toronto, the estimated median gross salary is CA$62k/yr, translating to approximately $3,755/month net for a single employee. A central 1-bedroom apartment costs around $2,600/month. Use the calculator below for your specific salary.

Data confidence: modeled estimate. Source: StatsCan/Numbeo estimates. Costs in CAD. Federal + Ontario provincial tax estimate (modeled).

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Toronto Cost of Living Summary

ItemMonthly Est. (CAD)
1-bed apartment (city centre)$2,600
1-bed apartment (outside centre)$1,900
Groceries (single person)$480
Transport (monthly pass)$156
Utilities$190
Internet$80
Restaurants (leisure budget)$380

Source: StatsCan/Numbeo estimates. Costs in CAD. Federal + Ontario provincial tax estimate (modeled).. Costs in local currency (CAD). All figures are estimated benchmarks — actual costs vary by neighbourhood and lifestyle.

Tax & Net Pay Summary

At the estimated median salary of CA$62k:

Net Monthly
$3,755
Effective Tax Rate
~21%
Social Contributions
~6%

Combined federal + Ontario provincial income tax estimate (2024). Other provinces differ. CPP + EI ~5.95%. Does not include Ontario surtax or all deductions.

Cost-of-living data for Toronto is estimated from public benchmarks and may not reflect your neighbourhood or lifestyle exactly.

Federal + Ontario provincial estimate only. Other provinces vary significantly.

FAQ

What is the average salary in Toronto?

The estimated median gross salary in Toronto is approximately CA$62k per year. Actual salaries vary significantly by industry, experience and employer. Source: StatsCan/Numbeo estimates. Costs in CAD. Federal + Ontario provincial tax estimate (modeled).

How much tax do you pay on a salary in Toronto?

Combined federal + Ontario provincial income tax estimate (2024). Other provinces differ. CPP + EI ~5.95%. Does not include Ontario surtax or all deductions. For a CA$62k salary, the estimated effective income tax rate is approximately 21%.

What is the cost of living in Toronto?

Toronto has a cost index of approximately 1.60 relative to Western European averages. A 1-bedroom central apartment costs around $2,600/month. StatsCan/Numbeo estimates. Costs in CAD. Federal + Ontario provincial tax estimate (modeled).

Is Toronto expensive to live in?

Toronto is moderately expensive. Housing is a significant cost but manageable on a solid salary.

Related

All Canada citiesSalary Swap — compare citiesCanada income percentile

All calculations are estimates for informational purposes only. Not tax, legal or financial advice. Data confidence: modeled estimate. Last updated: 2026.