Moving to Toronto in 2026 can be exciting.
It can also be expensive.
For most people, housing will be the biggest decision.
Before choosing a neighbourhood, you need to understand:
- What you can realistically rent
- What you can afford to buy
- How much cash you need
- Where you will work
- How you will commute
- Whether Toronto itself is the right fit
- Whether another GTA city gives you better value
Toronto offers major employment opportunities, public transit, diverse communities, restaurants, entertainment and access to many services.
But it also has high housing costs.
The better question
Does Toronto fit your income, housing budget, commute and lifestyle?
Moving to Toronto in 2026: Quick Answer
If you are considering moving to Toronto, start with the numbers that will affect your housing decision most.
| Question | 2026 Answer |
|---|---|
| Is Toronto expensive? | Housing is usually the biggest expense |
| Should I rent first? | Often useful if you do not know the city yet |
| Can I buy immediately? | Yes, if financing and your situation support it |
| Average GTA 1-bedroom condo rent, Q2 2026 | $2,273/month |
| Average GTA 2-bedroom condo rent, Q2 2026 | $3,013/month |
| Average City of Toronto condo sale price, Q2 2026 | $667,916 |
| Does Toronto have municipal land transfer tax? | Yes |
| Does North York count as Toronto? | Yes |
| Current TTC adult PRESTO/debit/credit fare | $3.30 |
| Is there still a 3-month OHIP waiting period? | No, for eligible applicants |
Planning a Move to Toronto?
If your move depends on finding the right rental, condo or home, you can start comparing neighbourhoods and current listings before you arrive.
Is Toronto a Good Place to Live in 2026?
For many people, yes.
But Toronto is not the best fit for every household.
Toronto May Be a Good Fit If You Value
- Employment opportunities
- Public transit
- Urban lifestyle
- Cultural diversity
- Restaurants and entertainment
- Universities and colleges
- Professional networks
- Walkable communities
Another GTA City May Fit Better If You Want
- More living space
- Larger lots
- Lower housing costs
- Easier parking
- Quieter suburban streets
- Different school and commute options
Cost of Living in Toronto in 2026
The cost of living in Toronto depends heavily on your housing choice.
Two people earning the same salary can have very different monthly budgets.
Housing
Rent or mortgage will usually be the largest expense.
Transportation
TTC, GO, parking, fuel and insurance can change your budget significantly.
Utilities
Hydro, water, internet and mobile costs vary by property.
Lifestyle
Groceries, childcare, entertainment and debt payments matter too.
Toronto Housing Costs
For Q2 2026, TRREB reported the following average GTA condominium rents.
| GTA Condo Rental Type | Average Rent |
|---|---|
| 1 Bedroom | $2,273/month |
| 2 Bedroom | $3,013/month |
What Does It Cost to Buy in Toronto?
Buying usually requires more upfront cash than renting.
TRREB reported an average City of Toronto condominium apartment selling price of $667,916 in Q2 2026.
City of Toronto Condo Example
$667,916
Average condominium apartment selling price reported for Q2 2026.
Citywide averages are useful for context, but they do not replace neighbourhood-level comparable sales.
For broader market context, see the Toronto Housing Market guide.
Renting in Toronto When You First Arrive
Renting first can make sense when moving to Toronto Canada, especially if you do not know the city well yet.
It gives you time to understand:
- Your commute
- Different neighbourhoods
- TTC access
- Traffic patterns
- Schools
- Building quality
- Lifestyle differences
What Can a Toronto Landlord Ask For?
Rental applications commonly include documents that help show the tenant can pay the rent.
- Employment letter
- Income information
- Credit report
- References
- Identification
- Completed rental application
Newcomers without Canadian credit or local landlord references may need a particularly well-organized application package.
Should You Find a Job Before Moving to Toronto?
From a housing perspective, having employment arranged can make the move easier.
It can help with rental qualification, mortgage qualification and neighbourhood selection.
Should You Rent or Buy When Moving to Toronto?
There is no universal answer.
| Rent First | Buy First |
|---|---|
| Learn Toronto before committing | Start ownership sooner |
| Lower upfront commitment | Long-term housing stability |
| Easier to change neighbourhoods | More control over your property |
| No land transfer tax | Closing costs apply |
| Useful if your job may change | Works well if your location is already clear |
Do not buy simply because someone says renting is “wasting money.” Run the numbers for your own situation.
Thinking About Buying Instead of Renting?
If your financing is ready, compare current properties, closing costs and neighbourhood options before deciding whether buying makes sense.
Buying a Home After Moving to Toronto
A buyer needs to think beyond the mortgage payment.
- Deposit
- Down payment
- Ontario Land Transfer Tax
- Toronto Municipal Land Transfer Tax
- Legal fees
- Title insurance
- Inspection where applicable
- Closing adjustments
- Moving expenses
$1 MILLION TORONTO HOME EXAMPLE
Approximately $32,950 in combined land transfer tax
Before any eligible first-time buyer rebates.
For current rates, buyer examples and first-time buyer rebates, read the Toronto Land Transfer Tax 2026 guide.
You can also use the Land Transfer Tax Calculator before making an offer.
Condo, Townhouse or Detached Home?
Condo
May suit buyers prioritizing location, transit, amenities and lower exterior maintenance.
Review maintenance fees, reserve fund, status certificate, special assessments, pet rules, parking and building management.
Townhouse
Can provide more bedrooms, direct entry, parking and family-oriented layouts.
Know whether the property is condominium or freehold.
Detached or Semi-Detached
May suit buyers wanting more interior space, yard, basement and renovation control.
Price and maintenance responsibilities can be higher.
If you are considering a condo, also read the Buying a Condo in Toronto guide and the guide to Toronto condo maintenance fees.
Where Should You Live in Toronto?
There is no single best neighbourhood for everyone.
| Priority | Areas to Explore |
|---|---|
| Downtown employment and urban lifestyle | Downtown/Core |
| Subway access with residential areas | Midtown |
| Larger homes and major transit corridors | North York |
| More space and varied housing | Scarborough |
| West-end access and established communities | Etobicoke |
For a deeper breakdown, see the Best Neighbourhoods in Toronto guide.
Does North York Count as Toronto?
Yes. North York is part of the current City of Toronto.
Toronto vs the GTA: Do You Actually Need to Live in Toronto?
Not necessarily.
Depending on your job and housing needs, you may also consider:
- Mississauga
- Vaughan
- Markham
- Richmond Hill
- Pickering
- Ajax
- Whitby
- Oakville
| Factor | Toronto | Many GTA Communities |
|---|---|---|
| Urban lifestyle | Strong | Varies |
| TTC access | Strong | Limited outside Toronto |
| GO Transit | Available | Often very important |
| Larger-home choice | Often more expensive | Often more choice |
| Toronto Municipal LTT | Applies | Does not apply outside Toronto |
For a detailed city-to-city comparison, see Mississauga vs Toronto for Home Buyers.
Getting Around Toronto in 2026
Toronto's transportation options include:
- Subway
- Streetcars
- Buses
- PRESTO
- GO Transit connections
- Regional transit connections
STANDARD ADULT TTC FARE
$3.30
MONTHLY FARE CAPPING
Introduced September 1, 2026
Should You Bring a Car to Toronto?
It depends on where you live and work.
A Car May Be Less Necessary If
- You live downtown
- You live near a subway
- Your workplace is transit-accessible
A Car May Be More Useful If
- You work outside transit corridors
- You travel across the GTA
- You have children
- You live in a lower-density area
Moving to Toronto From Another Province
Moving from another Canadian province can still involve practical changes.
- Ontario health coverage
- Driver's licence
- Vehicle registration
- Insurance
- Employment paperwork
- Housing
- School registration
Moving to Toronto From Another Country
International newcomers may face additional setup steps.
Is There Still a 3-Month OHIP Waiting Period?
No.
Ontario currently states that there is no longer a waiting period for eligible OHIP applicants.
Eligibility rules still apply. Visitors do not automatically qualify for OHIP.
What Salary Do You Need to Live Comfortably in Toronto?
There is no honest single number.
A person sharing housing and using transit can have a very different budget from someone renting alone, driving and paying for childcare.
| Expense | Your Monthly Amount |
|---|---|
| Rent or mortgage | $_____ |
| Condo fees / property tax | $_____ |
| Utilities | $_____ |
| Transportation | $_____ |
| Groceries | $_____ |
| Insurance | $_____ |
| Childcare / debt / lifestyle | $_____ |
| Total | $_____ |
Toronto Weather: What Should Newcomers Expect?
Toronto has four distinct seasons.
- Cold winters
- Snow and ice
- Hot and humid summer periods
- Rain
- Changing spring and fall weather
A ten-minute walk to transit can feel very different in February than in September, so commute planning should include winter conditions.
What to Do Before Moving to Toronto
60–90 Days Before Moving
- Confirm employment where possible
- Calculate your housing budget
- Decide rent vs buy
- Shortlist neighbourhoods
- Study commute times
- Prepare rental or mortgage documents
- Estimate moving costs
- Review transportation options
30 Days Before Moving
- Finalize housing
- Book movers
- Arrange insurance
- Prepare identification
- Plan utilities and internet
- Update important addresses
- Confirm condo move-in procedures if applicable
Your First 30 Days in Toronto
Common Mistakes When Moving to Toronto
1. Choosing Housing Before the Commute
A good home can become frustrating if daily travel is unreasonable.
2. Looking Only at Rent
Parking, utilities, insurance and transportation also matter.
3. Buying Before Knowing the Area
Buying can work, but only if the location and property fit your plans.
4. Assuming Downtown Is the Only Option
North York, Scarborough and Etobicoke offer different housing choices.
5. Ignoring the GTA
The right home may be outside the City of Toronto.
6. Forgetting Toronto Land Transfer Tax
Toronto buyers may face both provincial and municipal land transfer tax.
7. Using Old Housing Numbers
Use current market information and property-level comparables.
8. Believing Old OHIP Information
Ontario no longer has the former three-month waiting period for eligible applicants.
Is Moving to Toronto Worth It in 2026?
It can be.
Toronto may be worth it if you value:
- Career access
- Public transit
- City lifestyle
- Cultural diversity
- Education
- Professional networks
But the final decision should be based on your salary, work location, housing needs, commute, savings and long-term plans.
Frequently Asked Questions About Moving to Toronto
Is Moving to Toronto a Good Idea?
It can be if Toronto's employment opportunities, transit, lifestyle and neighbourhoods fit your goals and your housing budget is realistic.
Is It Worth Moving to Toronto?
That depends on your income, career, housing needs and lifestyle. Toronto can offer major advantages, but housing costs remain an important trade-off.
What Should I Know Before Moving to Toronto?
Understand your housing budget first. Then evaluate job location, neighbourhood, commute, rent vs buy, transportation, healthcare and cash reserves.
How Much Is a One-Bedroom Apartment in Toronto?
TRREB reported an average GTA condominium one-bedroom rent of approximately $2,273 per month in Q2 2026.
How Much Is a Two-Bedroom Apartment?
TRREB reported an average GTA condominium two-bedroom rent of approximately $3,013 per month in Q2 2026.
Is $70,000 a Good Salary in Toronto?
It depends on housing, household size, transportation, debt and lifestyle. Use after-tax income and a complete monthly budget.
Is $100,000 Enough to Live in Toronto?
For some households, yes. For others, housing, childcare, debt and transportation can consume a large share of income.
Should I Rent Before Buying in Toronto?
Renting first can be useful if you are unfamiliar with Toronto, your employment may change or you are unsure which neighbourhood fits your lifestyle.
Can I Buy a Home Before Moving to Toronto?
Yes, but remote buyers should carefully review comparables, neighbourhoods, commute, property condition, financing and legal requirements.
Does Toronto Still Have a Three-Month OHIP Waiting Period?
No. Ontario currently states that there is no waiting period for eligible OHIP applicants.
Should I Live in Toronto or Mississauga?
Toronto may suit people prioritizing TTC access and city life. Mississauga may appeal to people wanting different housing options, GO Transit access and suburban communities.
Planning Your Move to Toronto?
Moving is easier when the housing decision is based on real numbers, current listings and the right neighbourhood fit.
Before renting or buying, understand:
- Your housing budget
- Neighbourhood options
- Recent comparable sales
- Current listings
- Commute
- Closing costs
- Long-term plans
If you are moving to Toronto and need help finding a rental, condo, townhouse or house, Saeed Anwar can help you compare Toronto and GTA options before you arrive.
Saeed Anwar
Real Estate Broker
Royal LePage Signature Realty
Important Information
Market figures in this guide were reviewed in September 2026. Housing, rental and transportation costs can change over time.
This guide is general real estate information. Mortgage, legal, immigration, tax and healthcare eligibility questions should be confirmed with qualified professionals or the appropriate government authority. For property-specific decisions, current comparable sales and listings should be reviewed before making an offer.
