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Toronto Prices & Cost of Living 2026
Canada · Big city — Toronto is about 26% cheaper than New York. Not just exchange rates: what a fair price is, where it turns into a rip-off, and what that means in your money.
Toronto prices at a glance
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Toronto travel difficulty
Posted prices exclude 13% HST; tip added at restaurants
English is the native language; no barrier
UP Express: Pearson to Union Station in 28 min; subway + streetcars
Cards everywhere; tap a credit card on TTC and UP Express
Generally safe; petty theft in crowds and on late-night transit
Good to knowUP Express beats a taxi from Pearson — just tap your credit card
Handy apps: Uber · Lyft
Visas depend on your passport, so they are not scored. Felt different on the ground? Tell other travelers below. Travel difficulty in the Americas › Difficulty ranking for 502 cities ›
In your money
Toronto is about 26% cheaper than New York
Based on 8 things travelers buy most, compared with New York. Each pair of bars is the same purchase in both cities, converted to your currency. Set your own city and currency in “My basis” above.
Toronto in numbers
- 🍜5.4 local meals
- ☕23 coffees
- 🍺15 beers
- 🚕8 5-km taxi rides
- 💆1.3 h of massage
- 🏨0.5 hotel nights
- Local meal56 min · New York 52 min
- Coffee13 min · New York 15 min
- Beer20 min · New York 23 min
- Taxi38 min · New York 59 min
- Taxi#151 priciest
- Coffee#115 priciest
- Street food#111 priciest
- Hotel night#27 priciest
- 1-bed rent#45 priciest
Toronto price guide & rip-off thresholds
Toronto travel budget
Per person per day, estimated. Flights and shopping not included.
See 4-day, 1-week and 1-month budget tables › · Plan a multi-city trip budget ›
How to spend money in Toronto
Cards and contactless work everywhere.
15–20% of the pre-tax bill at restaurants.
Listed prices exclude tax; federal and provincial taxes are added at checkout.
Transit is decent in Vancouver and Toronto; Uber and Lyft operate.
No haggling.
Tap water is safe to drink.
Rare. Tax plus tip makes the bill 25–35% higher than the menu.
Live prices reported in Toronto
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FAQ
Is Toronto cheaper than New York?
Across 8 things travelers buy most (meals, coffee, beer, taxis, hotels…), Toronto is about 26% cheaper than New York. A local meal is about C$ 25 (≈ $18.4) and a coffee about C$ 5.9 (≈ $4.34).
How hard is Toronto to travel?
Averaging rip-offs, language, getting around, payments and safety, Toronto scores 1.4/5 — 'very easy'. Nothing stands out as hard. Tip: UP Express beats a taxi from Pearson — just tap your credit card
Is Toronto good for first-time travelers?
Yes — it is one of the easier places to travel (1.4/5). UP Express beats a taxi from Pearson — just tap your credit card
What is a realistic daily budget for Toronto?
Mid-range (3-star hotel, local meals plus a dinner out, two taxi rides) is about $336 a day. Guesthouses and street food bring it to about $119; 4-star and restaurants push it to about $680.
How much does it cost to live in Toronto for a month?
A short-term studio (about $3,582) plus food, transport and a SIM (about $2,200) comes to roughly $5,782 a month. A local long-term lease (studio about C$ 2,150) brings it down a lot.
How much should a taxi cost in Toronto?
For 5 km in town, expect C$ 13.6 – C$ 27.2; anything above C$ 32.6 is suspicious. Transit is decent in Vancouver and Toronto; Uber and Lyft operate.
Do you tip in Toronto?
15–20% of the pre-tax bill at restaurants. Listed prices exclude tax; federal and provincial taxes are added at checkout.
Can you use cards in Toronto?
Cards and contactless work everywhere.
Where do these numbers come from?
Base prices start from public cost-of-living data; once 3+ traveler reports come in, the app blends in the median of what people actually paid.
Fair range & rip-off line — each item gets its own spread (tight for transit, wide for street food). Above 1.2× the top of the fair range is flagged as a likely rip-off.
Budgets add up item prices for the lifestyle described above. Peak season and prime tourist spots run higher.
Exchange rate as of October 2026: 1 USD = C$ 1.36. Last updated 2026-10-05.