Earn Here, Spend ThereWhat is this money worth over there?
Compare cities βΊ New York vs Toronto
New York vs Toronto cost of living 2026
Which is cheaper, what exactly is cheaper, and how it feels on your money Β· Updated September 2026
πΊπΈ New York
π¨π¦ TorontoToronto is 37% cheaper than New York
Living on $11,647 a month in New York feels like about $6,502 in Toronto β same standard of living, compared by feel rather than exchange rate.
Per day
$478 vs $340
Per month
$11,647 vs $6,502
Local meal
$ 20 vs C$ 22
$20 vs $16.2
Taxi 5 km
$ 23 vs C$ 22
$23 vs $16.2
At a glance
FoodToronto 21% cheaper
CafΓ©s & drinksToronto 26% cheaper
TransportToronto 19% cheaper
StayToronto 41% cheaper
FunToronto 22% cheaper
- Where Toronto is clearly cheaper: Studio rent (month) (51%β), Hotel night (32%β), Taxi (30%β)
Item by item
| Item | New York | Toronto | Cheaper |
|---|---|---|---|
| Local mealper person | $ 20$20 | C$ 22$16.2 | Toronto β19% |
| Street food1 item | $ 9$9 | C$ 9.9$7.28 | Toronto β19% |
| Restaurant dinnerper person | $ 55$55 | C$ 57$41.9 | Toronto β24% |
| Coffeeone cup | $ 6$6 | C$ 6$4.41 | Toronto β26% |
| Beerone bottle | $ 9$9 | C$ 9$6.62 | Toronto β26% |
| Cocktail & wineone cup | $ 23$23 | C$ 23$16.9 | Toronto β26% |
| Bottled water | $ 2.5$2.5 | C$ 2.5$1.84 | Toronto β26% |
| Convenience store1 snack or drink | $ 6.3$6.3 | C$ 6.3$4.63 | Toronto β26% |
| Taxi5 km in town | $ 23$23 | C$ 22$16.2 | Toronto β30% |
| Tuk-tuk / moto taxishort hop | $ 14$14 | C$ 16$11.8 | Toronto β16% |
| Transitone ride | $ 2.9$2.9 | C$ 3.5$2.57 | Toronto β11% |
| Scooter rentalper day | $ 68$68 | C$ 68$50 | Toronto β26% |
| Hotel night3-star | $ 280$280 | C$ 260$191 | Toronto β32% |
| Studio rent (month) | $ 3,900$3,900 | C$ 2,600$1,912 | Toronto β51% |
| Laundry | $ 4.5$4.5 | C$ 5.5$4.04 | Toronto β10% |
| SIM card1 week data | $ 28$28 | C$ 34$25 | Toronto β11% |
| Haircutcut | $ 39$39 | C$ 39$28.7 | Toronto β26% |
| Massage1 hour | $ 110$110 | C$ 110$80.9 | Toronto β26% |
| Half-day tourper person | $ 100$100 | C$ 110$80.9 | Toronto β19% |
| Entry ticketTourist town | $ 28$28 | C$ 30$22.1 | Toronto β21% |
Reference prices start as estimates from published price levels; items with 3+ traveler reports use the median of real reports. Hostels and local eateries cut both by 30%+.
FAQ
Which is cheaper, New York or Toronto?
Toronto is 37% cheaper than New York. Daily budget $478 vs $340; a month $11,647 vs $6,502.
How do monthly costs compare between New York and Toronto?
With a short-term studio and living costs, New York is about $11,647 and Toronto about $6,502 per month.
Where do the numbers come from?
They start as estimates informed by published price levels; any item with 3+ traveler reports switches to the median of real reports. Live reports are in the app.