Why is downtown Toronto so expensive?

Housing Costs This is due to the high demand for housing in Toronto; it's consistently among the most expensive cities for housing. In fact, Toronto ranks as one of the top five most expensive cities for housing in Canada. According to Numbeo it will cost you $1968 to afford a one-bedroom apartment in Downtown Toronto.



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Toronto is the most expensive city in Canada, outpacing Vancouver in the rankings, according to Mercer. Other Canadian cities that made it to the list are Montreal, Ottawa and Calgary. But all these cities are far from being the most expensive in the world. Globally, Toronto ranks 90th while Vancouver landed at 116th.

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Toronto has been ranked among the top 100 most expensive cities to live around the world. Results from the 2023 Mercer Cost of Living Survey were released Wednesday, which ranked 227 cities around the world based on affordability.

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