Toronto is Canada's largest city and home to the University of Toronto, one of the world's top 25 research universities. It is also Canada's most expensive city for students. Here is a realistic, detailed monthly budget for student life in Toronto in 2026.
Monthly Student Budget in Toronto (2026)
| Expense Category | Budget | Mid-Range | Comfortable |
|---|---|---|---|
| Accommodation | CAD 900 - 1,400 | CAD 1,400 - 2,000 | CAD 2,200 - 3,500 |
| Groceries | CAD 300 - 450 | CAD 450 - 650 | CAD 650 - 900 |
| Eating out | CAD 150 - 250 | CAD 250 - 450 | CAD 450 - 800 |
| Transport (TTC) | CAD 128 | CAD 128 | CAD 128 |
| Phone | CAD 30 - 50 | CAD 50 - 80 | CAD 80 - 120 |
| Entertainment / social | CAD 100 - 200 | CAD 200 - 400 | CAD 400 - 700 |
| Personal / clothing | CAD 50 - 150 | CAD 150 - 300 | CAD 300 - 600 |
| Health insurance | CAD 60 - 80 | CAD 60 - 80 | CAD 60 - 80 |
| Total monthly | CAD 1,718 - 2,708 | CAD 2,688 - 3,988 | CAD 4,242 - 6,838 |
| Total annual | CAD 20,616 - 32,496 | CAD 32,256 - 47,856 | CAD 50,904 - 82,056 |
Accommodation in Toronto
University of Toronto Residence
| Type | Annual Cost (CAD) |
|---|---|
| Single room (shared bathroom) | CAD 11,000 - CAD 14,000 |
| Single en-suite | CAD 14,000 - CAD 18,000 |
| Catered (meals included) | CAD 16,000 - CAD 22,000 |
UofT residence is limited, priority is given to first-year students. Apply as early as possible.
Private Rental - Monthly Rent by Neighbourhood
| Neighbourhood | Private Room in Shared House |
|---|---|
| Downtown / Annex (close to UofT) | CAD 1,200 - CAD 2,000 |
| Kensington Market / Chinatown | CAD 1,000 - CAD 1,600 |
| Midtown / Yonge-Eglinton | CAD 1,100 - CAD 1,800 |
| East York / Leslieville | CAD 900 - CAD 1,400 |
| Scarborough / North York | CAD 800 - CAD 1,300 |
| Mississauga (near UTM campus) | CAD 900 - CAD 1,400 |
Sharing strategy: A 3-bedroom apartment shared by 3-4 students in Scarborough or North York can reduce individual rent to CAD 800-CAD 1,100/month, a saving of CAD 400-600/month vs. living near downtown.
Transport in Toronto
| Option | Monthly Cost (CAD) |
|---|---|
| TTC Monthly Pass (adult) | CAD 156 |
| TTC Post-Secondary Pass | CAD 128 |
| GO Transit (for outer suburbs) | CAD 100 - CAD 250 |
| Bixi Bike Share (annual) | CAD 100 |
The TTC post-secondary pass (CAD 128/month) gives unlimited subway, bus, and streetcar travel, essential for most Toronto students.
Food and Groceries
| Approach | Monthly Cost (CAD) |
|---|---|
| Budget cooking (No Frills, FoodBasics) | CAD 250 - CAD 380 |
| Mid-range cooking (Loblaws, Sobeys) | CAD 380 - CAD 550 |
| Street food / casual dining | CAD 10 - CAD 20 per meal |
| Kensington Market / Chinatown | Among the cheapest food options |
| Restaurant dinner (mid-range) | CAD 25 - CAD 50 per person |
Health Insurance in Toronto
Ontario's OHIP (provincial health insurance) has a 3-month waiting period for international students. During this period, you must have private insurance.
| Insurance | Monthly Cost (CAD) |
|---|---|
| University of Toronto student insurance (UTSU/UTGSU) | CAD 60 - CAD 80 |
| Private international student insurance | CAD 70 - CAD 120 |
After 3 months in Ontario, you can apply for OHIP, which covers most medical costs.
Part-Time Work in Toronto
International students can work 24 hours/week during term. At Ontario's minimum wage (CAD 17.20/hour) × 20 hours/week × 36 weeks = approximately CAD 12,384/year.
Popular jobs: campus cafes and libraries, retail, grocery stores, tutoring, delivery apps.
Annual Cost Summary - Toronto
| Profile | Annual Living Cost (CAD) |
|---|---|
| University residence, no cooking | CAD 28,000 - CAD 38,000 |
| Private shared house, downtown | CAD 26,000 - CAD 38,000 |
| Private shared house, North York / Scarborough | CAD 20,000 - CAD 30,000 |
Total annual cost including UofT tuition: CAD 50,000 - CAD 85,000.
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