Is $70,000 a good salary in Toronto?
It’s healthily above the national average income. You would be fine. The problem with Toronto is living expenses. The problem with Canada is the snow lol. Toronto. A salary of $80,000 per year means that you would be taking home about $60,092 per year after taxes, or $5,008 per month to pay for things like housing, transportation, groceries, and entertainment.The average rent in Toronto, ON is $2,500 — 25% higher the national average of $2,000.
Is $100,000 CAD a good salary in Toronto?
Key Takeaways. A $100,000 salary is still above Canada’s average individual and household salaries, so it’s a good income. But it doesn’t necessarily mean you can afford anything and everything you want in Canada. If you make $150,000 a year living in the region of Ontario, Canada, you will be taxed $51,669. That means that your net pay will be $98,331 per year, or $8,194 per month.Vancouver. A salary of $75,000 per year means that you would be taking home about $57,556 per year after taxes, or $4,796 per month to pay for things like housing, transportation, groceries, and entertainment.
Is $120000 enough to live in Toronto?
A salary of $120,000 per year means that you would be taking home about $86,822 per year after taxes, or $7,235 per month to pay for things like housing, transportation, groceries, and entertainment. The average household income in Toronto is $121,200. Is $5,000 CAD/month enough to live comfortably as a single person? In smaller cities, yes—it’s often more than enough. In Canada’s most expensive cities, it might cover the basics but leave little room for savings or extras.A comfortable single-person salary in Toronto or Vancouver in 2025 is estimated at CAD 65,000 to 75,000 per year. Mid-Sized Cities (Halifax, Winnipeg, Saskatoon): These cities offer a more balanced cost-of-living-to-salary ratio. A single person may live comfortably on a salary between CAD 50,000 and 60,000 per year.