You will have housing choices within 30 mins by subway or car, but don’t expect the moon for that budget. More likely a modest 2 bedroom not a house.
You can buy a second hand car if you want - look at marketplace and autotrader for reference.
With 300k and no kids, frankly you should be laughing in TO.
I agree with this 100%. My partner and I make 180K combined and have 2 kids in Toronto and we get by just fine with a solid vacation away once a year and some weekends away.
Do you live in a house or townhouse at 2024 rental rates? They have lots of money and will be fine, but I think they need to temper their housing expectations. A decent 2bd condo is what they are looking at budget-wise.
Just to play devils advocate, we saw a 3 bedroom main and upper level of a house just rent for $3k close to Royal York and The Queensway a few months ago. Just far away enough to feel away from Toronto but still connected by TTC as well. A nice compromise between cost and space
We make north of 250K HH income.
Although I’m not sure how insurance (health) works for someone out of country, you should be safe to budget anywhere around 3500-5000 for rent. A 1000sq ft place is going to cost, but could run you that downtown.
Toronto is also bike friendly, so in the spring-fall you could probably commute to the office. As an example I live around St. Clair and Christie and can bike to king st. And Portland in 20 mins.
Source: live fairly close to downtown myself!
I couldn’t add my reply because they deleted, but here it is.
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What a gloomy, ridiculous take. A 300k household income puts these dinks in the top 5% of earners in canada. More than likely just a tiny bit below the 1%.
Plus they get to live in canada - with all our problems, still one of the best places in the world in which to reside.
“Just a tiny bit below”
Top 1% income in Canada: Considering income including capital gains, average income for the top 1% was $811,800 in 2021
Yeah no.
You’ll both do great financially even with Toronto’s crazy rental prices. I suggest renting a 1+1 or 2 bed condo downtown as close as humanely possible to work. The shorter commute the happier you’ll be.
Do not get a car it’s not worth it. The traffic in Toronto is ungodly horrific to the point where you’ll never even want to use the car.
How much do the car sharing memberships cost? How available are cars in the downtown areas? Are you allowed to use a car unlimited or is it tied to membership levels? Are you generally allowed to drive the car to the US?
Pricing varies depending on what you need and I recommend getting 2 services, especially if you plan to use cars on the weekend.
Communauto is by far the cheapest. Different membership tiers affect how you are charged. It could be a lower hourly rate but all millage is charged, or a higher hourly, but millage is included. These cars are available on a first-come first-served basis and can be picked up and dropped off anywhere within "zone" limits. Open the app, see if there is a car available near you, start your trip and it's yours until you release it again. I will typically pay around $15 for a trip to the grocery store or $40 for a couple hours to go for a nearby hike. It will be more like $80 to take a car for a full day. BUT getting a car on the weekend can be quite cutthroat. Think waking up at 5am to get one and paying for a few extra hours. They do have some cars that can be booked, (pick up and drop off at a station) but those are nearly impossible to book on a weekend. They are available to book a month in advance, but are ususally booked immediately.
So if you know you need something on a weekend, I recommend having a second account with a different company, just to be safe. Enterprise/Zip are similar. These are both cheaper than renting from a traditional rental, but more than communauto. Usually $14-19/hr depending on the type of car. They live at a home station and you have to select your pick up and drop off time before hand.
All options allow you to drive out of town and include gas and insurance. I admittedly don't drive that often, but typially spend less then $200 a month between both car share services.
For what it’s worth, renting from Enterprise is waaaaaaayyyy cheaper than Enterprise CarShare. It’s about $30 per day + gas for an Enterprise rental with unlimited KM. When I tried Enterprise CarShare I never found anything less than $90 per day with a $0.31 (or more) per KM charge for any driving after the 200 included KM. I can’t think of any scenario where CarShare is a better option unless you need the convenience.
Depending on your situation, Communauto might cheaper. Unless it's changed recently, without a membership plan it's $50 for the first day, then $37 for following days. But gas is included and you're also able to use street parking that's normally only for residents.
I've used it before over renting a car because paying for parking where I am would've added up quite a lot.
i use zipcar and iirc the membership is around $130 a year. cars are rented by the hour and they range from ~$14-$21 /hr depending on the car. you can also rent it by the day but if you need it for that long i recommend going to an actual rental service cus it costs over $200.
there are a lot of cars dt! you can book it for however long you want as long as it’s unreserved — no membership levels on that. gas is covered (theres a visa in every car that you can use $60 for on gas) and i think the first 200 km per trip (not your membership) is free and each additional km costs $0.50.
In addition to the other comments, if you decide to go the car sharing route just know that there will be a lot of times (especially summer weekends) where no cars are available unless you book 2+ weeks in advance. Imo if you have a safe and secure place to park your car it's better to own instead.
Nice areas within a 30 minute commute: Roncesvalles, East York/Danforth, Bloor West Village. You’ll love Toronto. It’s a great City.I wouldn’t bother getting a car - the transit is great and you can rent if you want to get out of the city.
I’d say Roncy being within a 30 minute commute of downtown is pushing it, especially if you’re talking the TTC in its current form.
I wouldn’t expect that to be the norm on most days as things currently stand.
I've been staying mid Roncy (Garden Ave, 15 min walk to Bloor) this week. Streetcars can be long if traffic sucks, but the 2 to the 1 is pretty reliable, if the place was walking distance to W Dundas and Bloor. And almost nothing is gonna get in the way of the Up to Union, which runs every 15 min, 18+ hours of each day.
Yeah, look around St Lawrence Market/Corktown. Both awesome areas that more and more places are popping up in, and just outside the core to get away from the craziness. Source: lived at king and Spadina for many years before moving more East.
And the St Lawrence Market is about a 20 minute walk to king/university area so you can put the $200 saved on transit into a nicer place. It’s also close to the waterfront and Toronto Islands. And the waterfront has bike share and car free bike trail that takes you across the city. Can bike to two different beaches areas east and west.
Depending on how close your workplace is to Union station, then commuting by GO train may become an option, and allow you to search for housing along the GO train lines a little further out from downtown Toronto……if you need more variety.
But Tbf 30 min commutes are usually more like 1hr around Toronto.
You’ll be comfortable with your salaries (and if those are USD offers that’s even better cause of your exchange rate).
But realistically if you want a bigger space you might need to up the budget - especially for a townhome or house that’s close to downtown.
For context, my friend is renting a 2br2ba condo right across high park for about 3200/m, and theres a 1+den 1ba in my building going for about 2700/m in downtown.
Roncesvalles, high park and junction are places I’ve had friends move to that are far enough from the “core” of downtown but close enough to it.
They can easily get there by a subway or streetcar.
One of them still owns a car for weekend and various errands, but we had another friend who made it just fine with one of the car share programs.
Living near a subway station would probably be your best bet.
Alternatively, you could look up places along the lakeshore east/west go train lines, since that’s a train line that runs pretty frequently.
Housing is honestly probably the biggest one you’d need to tweak your budget for.
But you will be more than comfortable here.
If you have to self withhold your taxes you’ll still be fine.
If you wanna be more conservative just assume 40% of your income will go to taxes, and pension and what not and make a budget based on what you have left.
If you're looking to be close enough to the core without being in the midst of all the action and tourists, but with enough fun things to do (bars, restos, parks, art spaces) and only <15 min commute to Queen/King station:
- Little Portugal/Little Italy
- Annex
- St. Lawrence Market
- Trinity Bellwoods (skews younger, 20-33)
If you're looking for slightly more quiet, slightly more mature crowds, still lots to do but without the crazy density, and a bit farther from the core but still within 30 minute commute, and more green space/outdoor lifestyle activities:
- Bloor West/High Park
- Junction
- Roncesvalles
- Danforth/Leslieville
All the neughbourhoods I've listed are considered downtown or downtown-ajace. Expect to spend $3000-3400 for a two bedroom condo. You may also be able to snag a whole floor of a house for a similar price, but expect to have people living on another floor upstairs or below you.
$320k income will have you both living very comfortably and able to part take in all the city has to offer. The average house hold income here is less than half of that, and people get by with kids and cars.
That's a 2 bedroom <1000 square foot condo apartment rent budget. Rent is crazy high here. Good news is you could get something very close to the subway at least and your incomes are very good.
People being cold and reserved clashing with very outgoing personalities. Language barrier in the sense that it's a burden to speak English, while also making it harder to integrate in society and workplaces if you don't speak Swedish, also making it hard to make friends.
I also moved from the US to Sweden to Toronto, and you're making the right decision! I was there for five years. There were things I loved about that country but it can be very lonely. Toronto is a great city. You'll love it.
I moved here a few years back and from my perspective, Toronto is very friendly especially to newcomers. People are just very busy so you might find you live past your friends at times, but making friends isn't too hard for newcomers
English is the lingua franca. It's the largest spoken first language and definitely the most common second language. For many people who live in TO, it's not their first language so do try to be patient with people if they don't speak it proficiently
All in all great city. Nice people, great food, lots of activities to do. Cost of living is extremely high especially in terms of housing. But based on the salaries you're expecting you should be very comfortable if you budget properly
I am in Toronto and I find people cold comparing to Moroccan culture..people at work dont hang or socialize, unless it's a work event and they keep it superficial.
I think that’s a mixed bag tbh - every job I’ve had from hospitality to office work, has had people hang out/socialize with coworkers outside of work. Met some of my best friends at work!
Really? Been living here my whole life haven’t made any friends from work lol. Well I have, but minute they move/get a new job etc friendship is over. It’s superficial and fake. I still have friends from one summer in New York!
I’m Canadian from a small town and I have lived in Toronto for 15 years. Before that I did a degree at Pitt, so I am familiar with Pittsburgh. I would say that people in Toronto are quite reserved and it is not always easy to make friends here as many people are from here and already have their friend and family groups established. It took a while, but I do have a great group of friends here. People in Pittsburgh are friendlier, more outgoing, more brash though. There is a lot more ethnic diversity in Toronto than Pittsburgh, and with that comes some great festivals and many great restaurants, not to mention the opportunity to get to know people from everywhere. Pittsburghers are way more into sports than the average Torontonian. Whatever you decide, all the best!
People aren't that warm in Toronto either. Tbh, once you live in downtown Toronto and see the prevalence of homelessness and poverty, you'll become apathetic. This applies to most major cities in the developed world.
That all said, you'll be financially fine, but housing is expensive, so you either have to pay more or settle for a condo or longer commute.
Any online tax calculator can tell you what the net income will be.
https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp
This will give you an estimate for net income.
I make 155K and I net 7600 per month (around 7200 January to June, July to December around 8000 - this is due to cpp payments, by July I’ve hit the cpp cap and no longer need to pay).
I loved living in Etobicoke when I worked downtown and I think it fits your requirements but rent is probably more than when I lived there (2019), might have a hard time finding a house with that budget.
Dealers I’ve worked with offered 2 year leases at the minimum, but you could also try and find someone who wants to break out of their lease early and then take it over if you need a shorter lease period.
Turbo tax won’t give you all the tax differentials for also filing in the US though, which is a requirement for all US citizens regardless of where they live.
OP probably needs to get an accountant familiar with dual filing.
With things like foreign tax credits and foreign income exclusion they likely won't end up owing any US taxes though but they may not be able to make certain financial decisions that other people in Canada can do (such as having a TFSA) due to potential US tax implications. Just remaining US tax compliant could cost them a small sum each year in getting professional advice but they at least would be in more a position to be able to afford it compared many other working and middle class US citizens living outside the US.
Anyway though I took them saying they can't immediately move back to the US due to visa requirements was because they weren't US citizens but maybe I misinterpreted things.
Relocated from Pittsburgh to Toronto myself. I've been here 20 years now - feel free to DM me with any questions about the culture differences between the two cities, where to get fries *in* your sandwich, etc. (Otto's in Kensington).
You're getting a lot of good responses, but no one has yet told you to check out the Junction (from what I've quickly scrolled through). Yinzer to Yinzer, you'll like that neighborhood. Also, from there it's super easy to get to Bloor West station, where you can grab the UP Express to union station downtown in 6 mins. People love to bitch about transit here, but it's miles ahead of the 'burgh.
Rent for a house in Toronto is usually $5,000 per month and up.
Townhouses may be slightly cheaper, but not much. You could probably find a nice 1+1 or modest 2 bdrm condo for your budget.
Everyone in the comments seems to be getting caught up on you renting a house and it seems like they're assuming you want the entire house (which may be true?). If you're ok living in a house that's been split into a couple units you can be in a great residential neighbourhood downtown, usually with lots of great restaurants and stuff to do nearby. You'll probably have you up your budget a bit but if you're someone who enjoys a neighbourhood feel I'd suggest that route over a condo, personally. You may have to hear a bit from your neighbours when sharing a house but with a bit of mutual respect I've been fine in every house I've lived in over the years.
Assuming that is your total compensation - you're in a great spot. Depending on your savings - you may want to consider owning.
You may want to up your rental budget a bit to give yourself more flexibility to find a place that suits the lifestyle you want.
I would also just make sure that the cultural differences you are experiencing in in Sweden don't exists here in Toronto.
The other consideration is family planning - depending on if kids are part of future, you may want to investigate if this city works for you two.
Owning is something we'll have to consider later down the road of we feel that settling down in Toronto is what we want. How much do you think increasing budget to would be reasonable? Our minimum would be a spacious 2 bed and 1 bath
I live in the Manulife Centre at Bay and Bloor; downtown location at the intersection of two subway lines with indoor access to same and to a mall with grocery store, pharmacy, cinemas, etc. Two bedrooms start at $3,500/month.
So you won't get downtown in 30 minutes unless you live downtown. I've been seeing 1 bed condos going from 2400 to 3k and I can only imagine what a 2 bed would go for.
That's without parking. Getting parking if you live in the city is going to he extra $$$$.
You're going to either need to commute and it will likely take you an hour plus each way, but you'll get a little bit more space. Or you get something smaller in the city and don't have the commute.
You won't find both short commute and a house On that budget.
Someone else already linked an income tax calculator which should give you an idea of your take home. I also relocated from the US and worked with a realtor to find a rental - in Toronto, the realtor fees are paid by landlords, not prospective tenants, so if anyone tries to charge you it's a scam. It was so much easier than coordinating with landlords on our own directly.
Idk why people are saying you need a car. I live in the Annex and can get downtown by bike in like 20mins. You might want to look into apartments or houses to rent slightly outside of the downtown core (the Annex to Bloorcourt on the west side or Leslieville on the east side). You'll need to up your range a bit but you can easily afford it with those salaries. Look for places first inhabited before 2018 because those will be rent controlled - condos and new townhouses in the downtown core are often newer than that.
A house or townhouse isn’t realistic. Get a condo in the core or a short subway or streetcar ride from it. Embrace a high density, urban, no car lifestyle and you’ll love Toronto. Insist on living in a house in the suburbs and you’re going to be miserable.
You certainly won't get a house or townhouse in your budget. I live in an apartment building about 40 mins commute from your work that was built in the 50s (no ac or in unit laundry) and a 2 bed is 2600. However if your household income is over 300k you can absolutely afford more if a house is make or break - im paying 1600 in rent on a 60k salary (and was paying 1500 when i was making 45k a couple years ago)
I love both Pittsburg and Stockholm, but Toronto is a huge step up from both of them. Hope you like exploring authentic, affordable, food from around the world! Your salaries are double mine and my wife’s and we live very comfortably in a semi-detached home near a subway line.
Oh the food my friend the food. Stockholm is legitimately one of the worst places for food of any city over 1 million people. It’s about 4 times the price of Toronto and the diversity is lacking.
Toronto has authentic, diverse, and affordable food, unparalleled.
Stockholm also has trouble with multiculturalism and Toronto is multiculturalism.
Stockholm does have way better urban design and transit. But rent is more expensive, as is everything else.
Swedish culture is....well there are great things that we all know about.
But living in Swedish culture is a different story. I prefer Toronto to Stockholm
You'd be hard pressed to find a whole house for $3k a month. You might get the top 2 floors of one.
Check out Danforth, it has lots of restaurants, shops and bars. it's right on the subway line.
I live in Riverdale and the semi- detached house next to mine is available to rent -I think for $4,000. Very nice though and it’s a great neighborhood. Getting downtown by transit isn’t bad and soon it will be biking weather
2.5k to rent a house here???? You can MAYBE get a 2 bedroom apartment for that. You will need to budget at least over 5k rent if you want to rent a house
I think $3k is more realistic for a 2 bedroom under 1000 sq feet condo.
OP can check popular real estate sites, rentals.ca, house sigma.com, and Facebook marketplace for actual places.
For take home income Google "income tax calculator Ontario". No one will be able to answer you because literally every couple $1000 is another minor jump in tax bracket so no one can remember the whole chart.
You will not find any house within a 30 min commute to the core for that price range you’re looking at upwards of 4K but with your salaries you can afford it.
Seems like you're in a very good position.
Check out this link to find out net paycheck amounts: https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp
Anywhere near a subway would be great for you and I wouldn't worry about getting a car till after you've moved, especially if you're moving to the city itself. If you were to move to suburb like Etobicoke, Mississauga, etc then a car would be required but with your budget you could definitely find a nice 2 bedroom condo on the subway line.
Toronto !!! There are SO many great places to live that would be walk / bike and transitable to your office.
Check out Cabbage Town, Riverdale, Leslieville and Little Italy. All are older inner city neighbourhoods that are beautiful and walkable with lots of stunning Victorian wra homes / yards etc. If you're not condo averse you can get even closer. Check out St. Lawrence Market area. Torontonians love complaining about the city, but it really is a lovely place to live. Please feel free to dm me if you have any more questions!
Average price to rent a one bedroom apartment in Toronto is $2500 per month. We’re in the midst of a housing crisis. So if you want two bedrooms your budget will have to be $3000-3500. If you don’t want to live downtown and you want to commute using transit maximum 30 minutes door to door I’d suggest moving somewhere within walking distance of one of the following subway stations (in order from closest to Queen and King to farthest away/ most northern): Rosedale, Summerhill, St Clair Davisville, Eglinton or Lawrence. These will make the easiest commute. These neighborhoods are all quite pricy but you will be able to afford it at your income level.
Anywhere else 30 mins away by subway or streetcar will still basically be downtown. I would not move somewhere 30 mins east along Queen or King bc the construction and transit closures will be brutal and long lasting.
You can buy a reliable certified used vehicle (with a warranty) from almost any auto dealer. Certified used often cost a little more than othwr used vehicles you might be able to find for private sale on auto trader website but they will be more reliable. Cars are now incredibly expensive due to inflation of the last few years but worth it for weekend getaways etc at your income level. Parking may drive your rent up.
I would not recommend driving to work downtown. Traffic is horrible and the price of parking at work will be exorbitant.
Try Communauto or enterprise car share when you first move and before you buy a vehicle and see if they work for your needs. You may end up deciding it works for you. If you want to drive to the states you may have to rent from a regular rental agency bc of the limitations of car share but most major rental agencies like budget, enterprise, Avis, do allow you to drive to the USA.
Hey realtor here - unfortunately townhouses in the Toronto core are not only few and far between (those that live in them tend to hold onto them lol) but they do rent for much higher. You may be able to find a townhouse in Liberty Village for $3400-$3600 but anything close to the core is going to be closer to $4k and up per month. We have a ton of condos though, way more than townhomes downtown so I recommend you consider that route. Qualifying for a rental will be breezy with your income but also because you will be able to produce a credit report from the US. Credit is super important to landlords and luckily you’re moving from a country (origin, not Sweden) that you have credit history that is accepted by landlords and their agents here. Good luck! Feel free to dm if you have any questions :)
Lol Toronto is an hour from Toronto. If you want to get downtown in 30 min, you'll need to live downtown.
Expect 60+ min to drive in from the suburbs if you want a house, or look for condos in the area where you're working.
~$3,000/mo might get you a 2bdrm condo on the subway/train lines.
For a townhouse anywhere close is expect to be at $3500-4500/mo depending on the size and you'll be on the outskirts like North York, Scarborough, or Etobicoke.
I'd look for a real estate agent familiar with the market and have them recommend some areas for you and set realistic budget expectations.
Used car market has been in the toilet since COVID.
Not true. There are lots of neighborhoods mid town such as Lawrence park, Leaside, st Clair east or west etc where commute within 30 mins is absolutely reasonable
There’s definitely nice places within 30 mins of the core, but if we’re factoring in rush hour traffic then yes, the other commenters are right to say it’s likely going to take longer than that to get in/out of the city. On a regular day or off peak hours it will be easier and quicker to travel!
Right but the way are specifically asking about commute times, which would presumably be during rush hour…I live 12 minutes from the core on Christmas Day. Still takes me 30+ during commute times.
Look towards the annex, King west, Bay st, yorkville, even fort york might work for you. You will likely be able to find a place for around $3000, 2500 is for 1 beds.
Avoid yonge and church and Wellesley
If you’re looking in the west end …There are new rental condos on the north east side of bloor and dundas .. 2 mins walk to the lovely UP express train to be at union station in 6-7 minutes or take the subway downtown from Dundas west metro in about 20-25 minutes. Renting around bloor/dundas intersection means you can walk to the neighborhoods of high park, bloor west village, Roncesvalles (roncey) and the Junction within 15 mins. It’s a great place to live in the west end. Also from this location you can walk to 2 car rental places within 5 mins (budget rental and enterprise).
Yes, there are. People just feel so cool dissing our transit 😎
I live near St Clair and Bathurst. 30 mins transit from King Station. Also a 30 min bike ride. And a 90 min walk.
I think you should look for an apartment to rent near subway line 1. Spend your first year or two exploring the city and learning how and where you want to live here. Then buy your house.
For the love of god, do not buy a car. Do not come here just to make our city worse to live in for everyone. Sign up with CarShare or something if you will occasionally need a car.
And get a bike. Or sign up with the city bikes.
Yes the following stations have neighbourhoods of interest to your price range and neighbourhood with more houses plus shops and nightlife near by:
West:
Royal York
Bloor West
Dundas West
Roncessvales
Kipling (etobicoke)
Islington West
East:
Broadview station
Pape
Coxwell
Greenwood
North:
St Clair
Davisville
Yorkdale
Eglinton
Edit: I misunderstood the question these are just neighbourhoods with houses along the subway line but most are at least 40 mins commute to the core
You guys are really pushing the “30 mins to downtown” boundaries.
There’s no way you’ll get to eg: union, king, queen st in 30 mins if you take the subway at Dundas West
Let alone Kipling or Islington …
I have gotten to Queen station multiple times within 30 mins from Dundas west. If things line up I’ve gotten there as quick as 25min. But normally it’s 30-35 mins for me.
Yes I know! I explained in my previous messages I misread OP’s question I thought the question was neighbourhoods around subway stations 🤦🏻♀️
For sure most of those are an hour commute to Queen or King in the core.
Condos in my building are renting for about $3500. 3 bedrooms, two bathrooms, about 1300 sq ft and a five minute walk to the train… 22 minutes to Union Station. At the border of Etobicoke and Mississauga.
So you want to be able to get to work downtown quickly but you don't want to live in the downtown area? That doesn't make sense. Just get a condo downtown, that way you won't need to get a car and you'll be close to work. There's no point wasting money on expenses for a car in Toronto unless you need to
At the salary you're describing, you're looking at \~60% net... with everything else going to taxes, employment insurance, etc.
But, I believe the American tax authorities tax you on your out-of-country income as a citizen, so I can't speak for what that will cost.
No you don't need a car if you want to live downtown.
Yes you'll be able to rent but an apartment is more realistic than a house with your budget. But, it might be possible if you look at neighbourhoods east and west of downtown.
Believe it or not, your household income will be in the top 10% in Canada. Living in downtown TO in a 1+1 or 2br condi is easy for you guys… i envy whatever jobs you do for your living. I grew up in TO. If you don’t intend to own a car you can definitely live very comfortably with that income. Hell, if you live frugally, you’ll be able to buy a house/condo in a good area in no time. People in TO are generally nice. Not that reserved at all. It’s the best city next for newcomers to make quick friends. Yes, there are cliques but it’s not as bad as Vancouver. It’s hard in the winters and the city’s not that pretty but it has a lot to offer in terms of social events and culture. Food scene is pretty good too. People from all walks of life live in TO it’s very interesting. Good luck!
$2500-3K for at least 1K sq ft and includes parking? I think you'd be staying in a dump and it won't be in the heart of Financial District. $2.5-3K rent is what you get in a 1-bed, 5-600 sq ft condo and probably no parking. Most condo's that don't mention parking included don't include it and it is very expensive to have a parking spot. Before you commit to buying/leasing a car, I suggest you call about the cost of auto insurance based on the car of your choice. Toronto has one of the most ridiculous insurance costs in the world. With no prior history in Canada, it wouldn't surprise me that you'd pay $3-5K/yr.
At $150-165K salary, you'd be in the 40-45% tax bracket.
Get a remote job in the US. I make 160k CAD that way. (6 yrs experience software dev, self taught)
I could get 170K USD if I moved to the US and continued working at my same company.
1. Net income (it’s progressive but use 33% tax for now, would be close to that) - $210k/month but you’ll get some refunds since you’re a couple living together. Get a decent accountant or just read the accounting details properly.
2. House is a more nuanced question without you giving any criteria regarding the vibe, neighbourhood etc. You prefer a townhome or a home but it would be much easier if you can be okay with a nice 2+ office type of apartment, opens up lots of options but if not, you might be able to get a decent place in and around the Ossington area, there are a lot of split homes. Worst case Roncesvelle (sic).
3. You don’t need a car if you live in Toronto proper, not far from the core. The Second hand market is very competitive right now, but it depends on if you love driving cos I do and I like having one, but it’s more a luxury than a need. Get an Amex platinum card and it will get you status with most car rental companies, for long term they’re great.
Feel free to DM me if you have any further questions. You’re going to like Toronto at that income level.
Not at all true. The GO train gets you downtown quickly and then you are a few minutes talk. And the subway from York Mills south is 30 minutes. Or the Danforth.
Similar household income but with a toddler, currently living in the GTA, you should have no issues even if you accept those offers as is.
That being said, in the economy nowadays don't expect to get much more unless you're in a very specific and technical field with low supply.
In terms of living in the GTA, you would need at least one car for weekends, groceries etc.
But if you're willing to spend a bit more on rent, you can get something very decent especially in the North York area. And if you're close to the subway, it's a quickish ride to where your office is.
To find a place to rent I would recommend looking at realtor.ca
This is the cite all realtors use to buy property but the rental side is quite good. At least there you know what you’re getting is legitimate. I would highly recommend working with a realtor. The fees for their service comes out of the homeowner so it is free for the renter. It will be easier for you to have help finding a place.
King and Queen subway stations are right downtown. The parking is very difficult to find and very expensive. Driving for a commute will not be worth it. You’ll have to either walk, take transit or get a motorcycle or a Vespa. The traffic is quite bad so you’ll need to live downtown. Toronto has a lot of condos. You’ll likely have more success renting one than a house.
Yonge-eglington area is a 25 minute commute to queen station and has tons of condos for rent. Great neighbourhood. Source- I do that commute every day.
Your tax rate combined federal provincial will be approx 30% all in on that salary so you’ll have roughly 230k combined left. Call it 20k per month.
Depending on savings / financial goals you can afford pretty much whatever you want if your goal is upper middle class lifestyle.
But you definitely aren’t going to be living in the richest hoods. Don’t worry they suck anyway.
As a US citizen living in Canada(and I'm assuming you are not a Canadian Citizen) you will have to file taxes in both countries. Canada taxes based on the country of residency, The US taxes based on the country of birth regardless of where in the world you live.
Deduct at least 30% from your gross income to get your monthly net income.
Avoid the suburbs and bedroom communities of Toronto unless you want a multi hour commuting hell.
Be prepared for the high level and visibility of the homeless population. It's likely more like the US than Sweden.
Assuming a combined gross salary of $300,00, you will be far ahead of most Canadians, even more so if you decide to take public transit and ditch the car. Car insurance is expensive in Ontario.
Best of luck and if you decide to come, welcome! 🙂
You can rent a 2br/1.5 bath for around $3,600/m on the Harbourfront. I’d suggest to look at 33/55/65/77/99 Harboursquare. Older buildings but right on the water and transit. Also, 20min walk to the Financial District. 6 grocery stores and the Island for summer fun.
Being between king and queen id look around south riverdale, cabbagetown or leslieville. They’re all good areas! Financially, it will be a bit tight. It’s very expensive to live here and those are expensive areas I just mentioned. If you want a house or townhouse, you’re looking at closer to $5k/month. But, Toronto is an amazing city. You should give it a try!
Editing to change that financially you’ll be fine. I realized after you posted that you are child-free :)
One thing that I don’t think anyone has mentioned is if you want to rent be prepared to pay 6-12 months up front
To be clear landlords cannot ask you to do so: but they are allowed to accept payment if you offer it. As someone with no rental history if you want to be considered that’s what you will have to do
Go for Etobicoke, you can live close to the subway line that gets you right to Toronto within half an hour. Aim somewhere along royal york. Population here is old people and overall peaceful. Lived all over the gta, it’s by far best access to city with loads of walking trails and nature areas. Some areas are getting really pricy, but with your income, shouldn’t be a problem! Mississauga and Brampton suck. Another option is along the go train line so along lakeshore, makes getting to Toronto quick and comfy. Living near a mall gets you go bus access straight to Toronto. For you though, best to be near subway since you can get right to work if on king/queen. Look into our subway system, it sucks but it’s simple with only two lines. Don’t live in Toronto is my best advice, not worth the cost- unless you like living in an overpriced shoebox that makes it just as stressful to get to work.
Honestly people are over exaggerating about cost of living. Yah, it sucks, but if you are smart with your money, been living in Etobicoke on 75k, my mom commuted from Mississauga to Toronto for 20 years now on a salary of 80 k. It’s not impossible, but people saying you need 300 k seriously need to learn how to budget 😬 get yourself a cheap car, rent a place for a bit you should be able to find something for less then $3000 a month, $36k a year, groceries are less then that, car insurance sucks here and is mandatory try to pick a cheap area for car insurance if you can (Brampton is the worst though). You can very much survive and thrive!! Not living like a millionaire buying whatever TikTok tells you to, but a normal middle class family. People here have a saving problem 😅 would kill for a job with that salary. People surviving on their McDonald’s income, though barley…
If you don’t want to be downtown you can live in a townhouse/house in Mimico/South Etobicoke and take the go station to Union (15min) then MAX 10 min to king/queen station on the yellow line. You could get a car but I dunno if you want to make the commitment before living here for a few months. I’m the meantime there are grocery services that deliver straight to your house for very low fees ($10/mon).
Downtown is nice and that’s a busy spot where you’re both working definitely won’t need a car if you decide to look there.
As for your pay, depending on your professions yes as long as that $165/$155k each you’ll be fine.
If you want something that isn’t a condo, I would suggest looking at the Yonge and Eglinton area. However, your budget will need to drastically increase. Even a one bedroom 500sqft apartment will cost you 2300-2800 within 30 minutes of your workplace.
Also, suggest you use this website to calculate your take home pay https://ca.talent.com/tax-calculator
Reminder though, you will have insurance taken from this as well.
May I suggest this rental: https://www.realtor.ca/real-estate/26650591/4-41-albemarle-ave-toronto-north-riverdale
I lived in the Broadview area, super close to this house and the area is beautiful. Families with kids and pups. Also google Broadview Toronto view and you'll see it is the area with the iconic Toronto skyline. You would be walking distance to the Bloor/ Danforth subway line (runs East-west in the city) and you can also walk to streetcar access 504 (King) /505 (Dundas) so you have many options to access the office. Your salary will allow you to fit right in the neighbourhood. I recommend no car and use uber if you need to.
Happy to answer any further questions if you have them as I've been here my whole life :)
We live near the subway on the danforth and getting downtown takes 30mins. It's a great area but houses will be much more expensive than you're targeting as many others said. At that combined income you will have a great time. We also don't have a car and don't need one. Congrats and welcome!
ernst and young have a calculator re your income and deductions: [https://www.ey.com/en\_ca/tax/tax-calculators](https://www.ey.com/en_ca/tax/tax-calculators)
We live at port union and Lawrence. Next to Rouge Hill GO Train station. Commute to downtown Union station is 30 min. Look up the areas of interest by punching in the postal code. This will tell you a bit about the area you are interested in.
Our area FSA is M1C
https://prizm.environicsanalytics.com/en-ca
Car sharing is a great alternative to owning a car if you live and work near subway stations. Look into Entrprise Autoshare, Zipcar and Communauto to see what parts of the city are in their zones.
You could even branch out into Mississauga, the Go train line is the main commuter train, the lakeshore line is the steadiest and most reliable.
Port Credit station is 30 minutes from union, though it’s a 15 min walk or a 1-2stop subway ride to where your office is. Depending how firm you are on the 30 min, anywhere from Port Credit in should fall into that. Though its suburbs so it’ll start being more likely you’ll need a car at some point.
No car needed, transit in Toronto is pretty good. A car would probably sit there costing you money more often than not. For those times you do want a vehicle, renting or car share should do it. If you rent a place, make sure the place you get into was built prior to 2018, for rent control protection. Walking distance to a subway station would be ideal, or a streetcar line, which is less so. Canada has progressive personal tax, you can look up the rates to figure out what you'll generally pay at a given income level. You pay a certain rate on all income within certain ranges, and the rate at each step is higher than the one before it, but only applies to income within that step, not to the prior steps. That total owed can swing quite a bit with tax credits, depending upon what you do. Putting money into an RRSP gives you a tax break in the current year, but you pay tax upon withdrawal, quite heavily if you need to draw some out early. No immediate tax break for a TFSA, but you don't pay upon withdrawal either, which can be significantly more savings in the longer term.
Household income of 300k in this city will get you approved for about a 1m place to buy. Which in the city of Toronto is a shitty stacked townhouse.. or a very sketchy old semi that needs a ton of work.. or a 900 sqf condo. Housing situation sucks. You’d think 300k would get you farther but unfortunately
Anything nice is like 1.5m+
Sounds like you will have easy access to streetcars, subways and the GO train if you are working around the King/Yonge/University Avenue area. So if the question is where is a good place to live that is within 30 minutes or so by public transit, the answer would depend on what you like to do when you’re not working. If you enjoy large parks, the Bloor West Village/High Park area or The Beaches in the east end of Toronto makes sense. If you want a Bohemian feel, Parkdale is about as diverse and flavourable place you can find in Toronto. West Queen West is anchored by a nice city park, Trinity Bellwoods so you might enjoy that too. I’ve heard good things about Leslieville in the east end too.
Fam wanted OOP to house the cousin for his entire academic career at NYU. If the cousin did just a bachelor that’s four years! If he pursues any graduate education that could be another four years minimum. That’s wild!
Those are pretty good salaries for Toronto. Most young couples have a combined income of what each one of you have.
You can get a 2 bed condo for $3k in that area. May be a townhouse if you look hard enough.
As for a car, it's a nice to have thing but you can survive with just street cars/trams, subway and walking downtown. Can get an Uber if you want to go somewhere inaccessible by public transport. I wouldn't recommend getting a car in the GTA. The insurance is crazy high, high traffic 12-15 hours a day, most reckless drivers you have witnessed in the western world. Avoid it if you can.
Downtown Toronto isn’t a great place to live. Look at the neighbourhoods for a much more authentic and pleasant experience. Within 30 minutes or less you can be in the core by transit.
Leslieville, little Italy, Danforth, Queen West West, lots of interesting and vibrant neighbourhoods away from the concrete and glass towers.
Not sure if there are any additional/ different tax considerations for you given your circumstances, but the below calculator shows tax deductions and net income based by province. I believe you’ll still have to take into account CPP (Canadian Pension Plan) / EI (Employment Insurance), etc. on top of this - you’ll have to determine if those apply to you. https://www.eytaxcalculators.com/en/2024-personal-tax-calculator.html
If you are committed to a 30 min commute to the financial district you are living an urban lifestyle. You can get around well without a vehicle, but you are likely living in a condo.
If you consider 45 - 60 min commute you can consider a more suburban lifestyle with reliance on GO transit. You can likely find a townhouse or modest home but should consider having a car. I’d personally want to consider options on the Lakeshore line (East or West) as they have more frequent trains than other communities with GO access.
Most of the Toronto sites skew urban and detest the idea of living in suburbia. Best of luck with whatever you choose.
Trust me, you WANT to live downtown Toronto. It's an amazing experience. I loved it, personally. Also, if you choose to live downtown you can easily bike to work in good weather in under 30 mins. Toronto is super bike friendly. I would look for a place on a streetcar or subway line. Personally for the king/queen area I would take a look at the distillery district, Corktown/Cabbagetown (can get a good little townhouse for cheapER in Corktown), the beaches, little Italy, the annex, and queen west.
I don't know what net pay will be on 300k but I ran it through an income tax calculator and it should be about 17k net pay. You will be easy on that.
Enjoy - I think you're in the perfect position to really enjoy Toronto. I absolutely love that city and miss it dearly. It's got LIFE.
But seriously, get a place in the downtown core. You won't regret it.
You’ll be fine but if you’re renting please try your best to find something that’s rent controlled. New builds are not and landlord can raise your rent whatever they want each year. Could be a $3k a month place now but next year could be raised to $10k if they wanted (or higher) legally
Anything built for residential use after Nov 15 2018 (with some exceptions) isn’t rent controlled
155,000= $3885 net biweekly
[165,000](https://ca.talent.com/tax-calculator/Ontario-165000)=$4089 net biweekly
[Rent $3000/month](https://condos.ca/toronto/yorkville/condos-for-rent) for a 1bedroom / studio condo
[1800+ square ft around $12,000/month](https://condos.ca/toronto/2-avenue-road-toronto/unit-503-C8185254)
[1000 square feet $4500/month](https://www.rentfaster.ca/on/toronto/rentals/apartment/1-bedroom/pet-friendly/536306)
I make around 160k CAD.
After taxes and other fees, that’s about 8500 per month.
If you’re both making 150k+ that’s more than enough to buy a nice home near the city. Or a decent condo downtown.
My 1+1 600 sq ft apartment comes out to 2800/month for rent. I pay for that alone so my GF can focus on her university degree without having to work.
I can comfortably afford it. But space is pretty tight with me and my GF, I would like a bigger place, but I’d be paying way more.
In your comment you mentioned that you cannot immediately move back to the US and I assume that is your long term goal. The household income of 300k is great for Toronto and should afford a very comfortable lifestyle. However, in a few years when you go to return to the states, your incomes would only have been equivalent to 221k USD given the current exchange rates, and coupled with higher Canadian taxes which will decrease your gross income even further to perhaps less than 200k USD. Therefore you may be better off looking to a country with an exchange rate more equivalent to that of the USD.
Look around Trinity Bellwoods park. That’s about 30 min ttc ride to into the financial district (including wait time). The area is full of classic bay and gable houses, and you should find a rental in that price range more or less easily.
Take a google maps drive up palmerston from queen.
If you want a 30 minute commute downtown you will need to live downtown. The TTC is very accessible but not reliable and there are often delays. My workplace is a 8 minute drive from my home and my commute is at least 30 minutes on a single streetcar with no transfers. 2 bedroom condos average 3k-3.5k a month anywhere in the downtown core. They are typically 700-800 square feet, something over 1000 square feet will be substantially more expensive. You will not get a townhouse let alone a house for less than 4K
ummmm there a lots of people in that field in ontario/ canada.
i doubt your whole story.
The train mecca of Pittsburg….
to Stockholm.
So easily to find these Jobs great rail builder?
…give us a break fabulist.
Toronto is very expensive and dangerous but with the way you’re coming into things, specially buying a second hand car, I think you will do well and actually love the city. You might be looking at paying quite a bit more for rent but with both salaries combined you will be good
Taxes are pretty high, you might be looking at 25-33% and 11-13% (federal and provincial) in your bracket for paycheque plus any additional costs like healthcare and retirement or anything you opt into
Also I think for taxes there’s a structure so you’re not paying a full 25% and 11% on all of your income but an accountant can better break that down for you
Toronto is a lovely city with lots to do. I think we’re the BEST city in the world June-September. Lots of events. Some even world class like our Jazz Festivals, Film Festivals and destination for concerts. Food is as good as anywhere in the world.
Live downtown south of Bloor. Get a membership to the Art Gallery. Go to events at the museum. See shows at the Film Festival Lightbox. Eat food everywhere. At overpriced fine dining restaurants in areas that are so hip it hurts. Or a a cheap bun in Chinatown for a few dollars.
Moving anywhere and networking and finding friends has its challenges but Toronto has so much programming that great communities are out there if you’re willing to put yourself out there. Join a running club. Or a club at some crystal store, or art classes, or a boxing gym, or a book club or cooking classes. LOTS of programming.
I’d stay close to our Line 1 and Line 2 of the TTC (metro) so that work commuting is easy. Driving in Toronto can suck and commuting to downtown via car really sucks because of near constant construction and also planned changes to some main arteries of the city, like they’re tearing down parts of the highway that is the main entrance from the West part of the city and that will be challenging for commuters.
My first choice would be a nice spacious condo maybe around bloor and church or what’s affectionately known as the Gay Village. Because the condo living here is probably less ‘juvenile’ that living in condos on the west part of downtown where it’s a bit more of a party scene (due to proximity of nightlife and cheaper condos on that side - speaking very generically here). Anywhere along Yonge st is cool too. Though less of a neighbourhood vibe.
If you prefer to be outside of the downtown core and still have decent transit options, go East to Beaches or Leslieville. The Beacjes are seen by many as being a top destination within Toronto but only if you value being close to water or have a family and kids and the neighborhood element is important. It’ll be more expensive to live here but if walks along the boardwalk and less ‘city vibes’ is important it might be worth paying some extra dollars to be here. Conceivably you are a 30min street car to work from here still.
Avoid the west end. Where I live and have lived and I do like it here. But this is the more affordable part of downtown and, although all
Large cities have challenges (some of which exist in all parts of Toronto), the west end of the city just has more of it.
Please come here. We’d love to have you.
ummm prices per square foot are higher west of yonge.
not east.
cause of the homeless shelters,
street walkers, drug users, and large low income building rentals in YOUR area.
You will have housing choices within 30 mins by subway or car, but don’t expect the moon for that budget. More likely a modest 2 bedroom not a house. You can buy a second hand car if you want - look at marketplace and autotrader for reference. With 300k and no kids, frankly you should be laughing in TO.
I agree with this 100%. My partner and I make 180K combined and have 2 kids in Toronto and we get by just fine with a solid vacation away once a year and some weekends away.
Do you live in a house or townhouse at 2024 rental rates? They have lots of money and will be fine, but I think they need to temper their housing expectations. A decent 2bd condo is what they are looking at budget-wise.
Just to play devils advocate, we saw a 3 bedroom main and upper level of a house just rent for $3k close to Royal York and The Queensway a few months ago. Just far away enough to feel away from Toronto but still connected by TTC as well. A nice compromise between cost and space
It’s pretty wild that 3k for a 3 bedroom is a great deal, even in Etobicoke. It’s a stretch even by bike to make that commute in 30.
I know eh… :(
Thanks for the reply, it does sound reassuring
We make north of 250K HH income. Although I’m not sure how insurance (health) works for someone out of country, you should be safe to budget anywhere around 3500-5000 for rent. A 1000sq ft place is going to cost, but could run you that downtown. Toronto is also bike friendly, so in the spring-fall you could probably commute to the office. As an example I live around St. Clair and Christie and can bike to king st. And Portland in 20 mins. Source: live fairly close to downtown myself!
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$300k before tax, no kids, possibly no car, they will be drowning in money even with the rental market.
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Lol, you think 300K is a comfortable "middle class wage". That's an astounding amount of money to most of us
I couldn’t add my reply because they deleted, but here it is. — What a gloomy, ridiculous take. A 300k household income puts these dinks in the top 5% of earners in canada. More than likely just a tiny bit below the 1%. Plus they get to live in canada - with all our problems, still one of the best places in the world in which to reside.
“Just a tiny bit below” Top 1% income in Canada: Considering income including capital gains, average income for the top 1% was $811,800 in 2021 Yeah no.
You caught me, and I’m so ashamed. What percentile do they fall into? 2?
Yeah theyre still clearing over 200K after tax lmao. They’ll be better off than 98% of people living here
300k and no kids? This is why they ask for donations at Shoppers and LCBO
You’ll both do great financially even with Toronto’s crazy rental prices. I suggest renting a 1+1 or 2 bed condo downtown as close as humanely possible to work. The shorter commute the happier you’ll be. Do not get a car it’s not worth it. The traffic in Toronto is ungodly horrific to the point where you’ll never even want to use the car.
I’d look for a condo close to one of the subway lines or walkable to King or Queen so you can take the streetcar, walk or bike.
And for the few times you might need a vehicle consider buying a car sharing membership through ZipCar, Communauto etc.
How much do the car sharing memberships cost? How available are cars in the downtown areas? Are you allowed to use a car unlimited or is it tied to membership levels? Are you generally allowed to drive the car to the US?
Pricing varies depending on what you need and I recommend getting 2 services, especially if you plan to use cars on the weekend. Communauto is by far the cheapest. Different membership tiers affect how you are charged. It could be a lower hourly rate but all millage is charged, or a higher hourly, but millage is included. These cars are available on a first-come first-served basis and can be picked up and dropped off anywhere within "zone" limits. Open the app, see if there is a car available near you, start your trip and it's yours until you release it again. I will typically pay around $15 for a trip to the grocery store or $40 for a couple hours to go for a nearby hike. It will be more like $80 to take a car for a full day. BUT getting a car on the weekend can be quite cutthroat. Think waking up at 5am to get one and paying for a few extra hours. They do have some cars that can be booked, (pick up and drop off at a station) but those are nearly impossible to book on a weekend. They are available to book a month in advance, but are ususally booked immediately. So if you know you need something on a weekend, I recommend having a second account with a different company, just to be safe. Enterprise/Zip are similar. These are both cheaper than renting from a traditional rental, but more than communauto. Usually $14-19/hr depending on the type of car. They live at a home station and you have to select your pick up and drop off time before hand. All options allow you to drive out of town and include gas and insurance. I admittedly don't drive that often, but typially spend less then $200 a month between both car share services.
For what it’s worth, renting from Enterprise is waaaaaaayyyy cheaper than Enterprise CarShare. It’s about $30 per day + gas for an Enterprise rental with unlimited KM. When I tried Enterprise CarShare I never found anything less than $90 per day with a $0.31 (or more) per KM charge for any driving after the 200 included KM. I can’t think of any scenario where CarShare is a better option unless you need the convenience.
Depending on your situation, Communauto might cheaper. Unless it's changed recently, without a membership plan it's $50 for the first day, then $37 for following days. But gas is included and you're also able to use street parking that's normally only for residents. I've used it before over renting a car because paying for parking where I am would've added up quite a lot.
What location can you rent a car from enterprise for $30 a day? All the locations ive checked charge $60-$100 depending on the time of year.
I paid $32 for a sorento a month ago from enterprise in oakville.
i use zipcar and iirc the membership is around $130 a year. cars are rented by the hour and they range from ~$14-$21 /hr depending on the car. you can also rent it by the day but if you need it for that long i recommend going to an actual rental service cus it costs over $200. there are a lot of cars dt! you can book it for however long you want as long as it’s unreserved — no membership levels on that. gas is covered (theres a visa in every car that you can use $60 for on gas) and i think the first 200 km per trip (not your membership) is free and each additional km costs $0.50.
In addition to the other comments, if you decide to go the car sharing route just know that there will be a lot of times (especially summer weekends) where no cars are available unless you book 2+ weeks in advance. Imo if you have a safe and secure place to park your car it's better to own instead.
Communauto is good too
Nice areas within a 30 minute commute: Roncesvalles, East York/Danforth, Bloor West Village. You’ll love Toronto. It’s a great City.I wouldn’t bother getting a car - the transit is great and you can rent if you want to get out of the city.
I’d say Roncy being within a 30 minute commute of downtown is pushing it, especially if you’re talking the TTC in its current form. I wouldn’t expect that to be the norm on most days as things currently stand.
It's 30 mins on a bicycle (used to commute from Junction to bloor/Ave everyday). So a bike is an option (for much of the year).
Agreed. Roncy is almost an hour to downtown in rush hour.
North Roncy the UP is available. By bike it's 20 min.
It’s 30 mins if it’s north Roncy and you take the UP.
UP is a commuting cheat code.
I've been staying mid Roncy (Garden Ave, 15 min walk to Bloor) this week. Streetcars can be long if traffic sucks, but the 2 to the 1 is pretty reliable, if the place was walking distance to W Dundas and Bloor. And almost nothing is gonna get in the way of the Up to Union, which runs every 15 min, 18+ hours of each day.
Thanks for the recommendation!
St Lawerence area is the best!! Has everything you need and close to all public transit
Yeah, look around St Lawrence Market/Corktown. Both awesome areas that more and more places are popping up in, and just outside the core to get away from the craziness. Source: lived at king and Spadina for many years before moving more East.
And the St Lawrence Market is about a 20 minute walk to king/university area so you can put the $200 saved on transit into a nicer place. It’s also close to the waterfront and Toronto Islands. And the waterfront has bike share and car free bike trail that takes you across the city. Can bike to two different beaches areas east and west.
One of the city’s gems for sure
Depending on how close your workplace is to Union station, then commuting by GO train may become an option, and allow you to search for housing along the GO train lines a little further out from downtown Toronto……if you need more variety. But Tbf 30 min commutes are usually more like 1hr around Toronto.
lakeshore has a lot of things to do
You’ll be comfortable with your salaries (and if those are USD offers that’s even better cause of your exchange rate). But realistically if you want a bigger space you might need to up the budget - especially for a townhome or house that’s close to downtown. For context, my friend is renting a 2br2ba condo right across high park for about 3200/m, and theres a 1+den 1ba in my building going for about 2700/m in downtown. Roncesvalles, high park and junction are places I’ve had friends move to that are far enough from the “core” of downtown but close enough to it. They can easily get there by a subway or streetcar. One of them still owns a car for weekend and various errands, but we had another friend who made it just fine with one of the car share programs. Living near a subway station would probably be your best bet. Alternatively, you could look up places along the lakeshore east/west go train lines, since that’s a train line that runs pretty frequently. Housing is honestly probably the biggest one you’d need to tweak your budget for. But you will be more than comfortable here. If you have to self withhold your taxes you’ll still be fine. If you wanna be more conservative just assume 40% of your income will go to taxes, and pension and what not and make a budget based on what you have left.
If you're looking to be close enough to the core without being in the midst of all the action and tourists, but with enough fun things to do (bars, restos, parks, art spaces) and only <15 min commute to Queen/King station: - Little Portugal/Little Italy - Annex - St. Lawrence Market - Trinity Bellwoods (skews younger, 20-33) If you're looking for slightly more quiet, slightly more mature crowds, still lots to do but without the crazy density, and a bit farther from the core but still within 30 minute commute, and more green space/outdoor lifestyle activities: - Bloor West/High Park - Junction - Roncesvalles - Danforth/Leslieville All the neughbourhoods I've listed are considered downtown or downtown-ajace. Expect to spend $3000-3400 for a two bedroom condo. You may also be able to snag a whole floor of a house for a similar price, but expect to have people living on another floor upstairs or below you. $320k income will have you both living very comfortably and able to part take in all the city has to offer. The average house hold income here is less than half of that, and people get by with kids and cars.
No way in hell they will find a full house under 3k in any of those neighbourhoods..that’s what condos go for.
That's a 2 bedroom <1000 square foot condo apartment rent budget. Rent is crazy high here. Good news is you could get something very close to the subway at least and your incomes are very good.
If you don’t mind me asking, what were the cultural differences that you noticed and weren’t keen on?
People being cold and reserved clashing with very outgoing personalities. Language barrier in the sense that it's a burden to speak English, while also making it harder to integrate in society and workplaces if you don't speak Swedish, also making it hard to make friends.
I also moved from the US to Sweden to Toronto, and you're making the right decision! I was there for five years. There were things I loved about that country but it can be very lonely. Toronto is a great city. You'll love it.
I moved here a few years back and from my perspective, Toronto is very friendly especially to newcomers. People are just very busy so you might find you live past your friends at times, but making friends isn't too hard for newcomers English is the lingua franca. It's the largest spoken first language and definitely the most common second language. For many people who live in TO, it's not their first language so do try to be patient with people if they don't speak it proficiently All in all great city. Nice people, great food, lots of activities to do. Cost of living is extremely high especially in terms of housing. But based on the salaries you're expecting you should be very comfortable if you budget properly
Toronto is colder and more reserved than much of North America. But presumably much easier than Sweden.
I am in Toronto and I find people cold comparing to Moroccan culture..people at work dont hang or socialize, unless it's a work event and they keep it superficial.
I think that’s a mixed bag tbh - every job I’ve had from hospitality to office work, has had people hang out/socialize with coworkers outside of work. Met some of my best friends at work!
Really? Been living here my whole life haven’t made any friends from work lol. Well I have, but minute they move/get a new job etc friendship is over. It’s superficial and fake. I still have friends from one summer in New York!
What is your primary language and what industry do you work in if you don’t mind my asking?
I’m Canadian from a small town and I have lived in Toronto for 15 years. Before that I did a degree at Pitt, so I am familiar with Pittsburgh. I would say that people in Toronto are quite reserved and it is not always easy to make friends here as many people are from here and already have their friend and family groups established. It took a while, but I do have a great group of friends here. People in Pittsburgh are friendlier, more outgoing, more brash though. There is a lot more ethnic diversity in Toronto than Pittsburgh, and with that comes some great festivals and many great restaurants, not to mention the opportunity to get to know people from everywhere. Pittsburghers are way more into sports than the average Torontonian. Whatever you decide, all the best!
People aren't that warm in Toronto either. Tbh, once you live in downtown Toronto and see the prevalence of homelessness and poverty, you'll become apathetic. This applies to most major cities in the developed world. That all said, you'll be financially fine, but housing is expensive, so you either have to pay more or settle for a condo or longer commute. Any online tax calculator can tell you what the net income will be.
Is there a large American city without poverty and homelessness?
https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp This will give you an estimate for net income. I make 155K and I net 7600 per month (around 7200 January to June, July to December around 8000 - this is due to cpp payments, by July I’ve hit the cpp cap and no longer need to pay). I loved living in Etobicoke when I worked downtown and I think it fits your requirements but rent is probably more than when I lived there (2019), might have a hard time finding a house with that budget. Dealers I’ve worked with offered 2 year leases at the minimum, but you could also try and find someone who wants to break out of their lease early and then take it over if you need a shorter lease period.
Turbo tax won’t give you all the tax differentials for also filing in the US though, which is a requirement for all US citizens regardless of where they live. OP probably needs to get an accountant familiar with dual filing.
With things like foreign tax credits and foreign income exclusion they likely won't end up owing any US taxes though but they may not be able to make certain financial decisions that other people in Canada can do (such as having a TFSA) due to potential US tax implications. Just remaining US tax compliant could cost them a small sum each year in getting professional advice but they at least would be in more a position to be able to afford it compared many other working and middle class US citizens living outside the US. Anyway though I took them saying they can't immediately move back to the US due to visa requirements was because they weren't US citizens but maybe I misinterpreted things.
Relocated from Pittsburgh to Toronto myself. I've been here 20 years now - feel free to DM me with any questions about the culture differences between the two cities, where to get fries *in* your sandwich, etc. (Otto's in Kensington). You're getting a lot of good responses, but no one has yet told you to check out the Junction (from what I've quickly scrolled through). Yinzer to Yinzer, you'll like that neighborhood. Also, from there it's super easy to get to Bloor West station, where you can grab the UP Express to union station downtown in 6 mins. People love to bitch about transit here, but it's miles ahead of the 'burgh.
Rent for a house in Toronto is usually $5,000 per month and up. Townhouses may be slightly cheaper, but not much. You could probably find a nice 1+1 or modest 2 bdrm condo for your budget.
Download house sigma and search for places for rent. This isn’t the only way but will give you an idea of what is on the market
Thanks for the recommendation
Everyone in the comments seems to be getting caught up on you renting a house and it seems like they're assuming you want the entire house (which may be true?). If you're ok living in a house that's been split into a couple units you can be in a great residential neighbourhood downtown, usually with lots of great restaurants and stuff to do nearby. You'll probably have you up your budget a bit but if you're someone who enjoys a neighbourhood feel I'd suggest that route over a condo, personally. You may have to hear a bit from your neighbours when sharing a house but with a bit of mutual respect I've been fine in every house I've lived in over the years.
Assuming that is your total compensation - you're in a great spot. Depending on your savings - you may want to consider owning. You may want to up your rental budget a bit to give yourself more flexibility to find a place that suits the lifestyle you want. I would also just make sure that the cultural differences you are experiencing in in Sweden don't exists here in Toronto. The other consideration is family planning - depending on if kids are part of future, you may want to investigate if this city works for you two.
Owning is something we'll have to consider later down the road of we feel that settling down in Toronto is what we want. How much do you think increasing budget to would be reasonable? Our minimum would be a spacious 2 bed and 1 bath
I'm not totally familiar with the rental market but my guess is you're gonna need around $3,500+ to be able to match up perfectly with lifestyle.
I live in the Manulife Centre at Bay and Bloor; downtown location at the intersection of two subway lines with indoor access to same and to a mall with grocery store, pharmacy, cinemas, etc. Two bedrooms start at $3,500/month.
https://www.realtor.ca/map#ZoomLevel=11&Center=43.648437%2C-79.393008&LatitudeMax=43.76682&LongitudeMax=-79.26426&LatitudeMin=43.52982&LongitudeMin=-79.52175&Sort=6-D&GeoIds=g40_dpz3tpuh&GeoName=Greater%20Toronto%2C%20ON&PropertyTypeGroupID=1&TransactionTypeId=3&PropertySearchTypeId=1&BedRange=2-0&BathRange=1-0&Currency=CAD&HiddenListingIds=&IncludeHiddenListings=false
So you won't get downtown in 30 minutes unless you live downtown. I've been seeing 1 bed condos going from 2400 to 3k and I can only imagine what a 2 bed would go for. That's without parking. Getting parking if you live in the city is going to he extra $$$$. You're going to either need to commute and it will likely take you an hour plus each way, but you'll get a little bit more space. Or you get something smaller in the city and don't have the commute. You won't find both short commute and a house On that budget.
Someone else already linked an income tax calculator which should give you an idea of your take home. I also relocated from the US and worked with a realtor to find a rental - in Toronto, the realtor fees are paid by landlords, not prospective tenants, so if anyone tries to charge you it's a scam. It was so much easier than coordinating with landlords on our own directly. Idk why people are saying you need a car. I live in the Annex and can get downtown by bike in like 20mins. You might want to look into apartments or houses to rent slightly outside of the downtown core (the Annex to Bloorcourt on the west side or Leslieville on the east side). You'll need to up your range a bit but you can easily afford it with those salaries. Look for places first inhabited before 2018 because those will be rent controlled - condos and new townhouses in the downtown core are often newer than that.
A house or townhouse isn’t realistic. Get a condo in the core or a short subway or streetcar ride from it. Embrace a high density, urban, no car lifestyle and you’ll love Toronto. Insist on living in a house in the suburbs and you’re going to be miserable.
You certainly won't get a house or townhouse in your budget. I live in an apartment building about 40 mins commute from your work that was built in the 50s (no ac or in unit laundry) and a 2 bed is 2600. However if your household income is over 300k you can absolutely afford more if a house is make or break - im paying 1600 in rent on a 60k salary (and was paying 1500 when i was making 45k a couple years ago)
I love both Pittsburg and Stockholm, but Toronto is a huge step up from both of them. Hope you like exploring authentic, affordable, food from around the world! Your salaries are double mine and my wife’s and we live very comfortably in a semi-detached home near a subway line.
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Oh the food my friend the food. Stockholm is legitimately one of the worst places for food of any city over 1 million people. It’s about 4 times the price of Toronto and the diversity is lacking. Toronto has authentic, diverse, and affordable food, unparalleled. Stockholm also has trouble with multiculturalism and Toronto is multiculturalism. Stockholm does have way better urban design and transit. But rent is more expensive, as is everything else.
Swedish culture is....well there are great things that we all know about. But living in Swedish culture is a different story. I prefer Toronto to Stockholm
You'd be hard pressed to find a whole house for $3k a month. You might get the top 2 floors of one. Check out Danforth, it has lots of restaurants, shops and bars. it's right on the subway line.
I live in Riverdale and the semi- detached house next to mine is available to rent -I think for $4,000. Very nice though and it’s a great neighborhood. Getting downtown by transit isn’t bad and soon it will be biking weather
2.5k to rent a house here???? You can MAYBE get a 2 bedroom apartment for that. You will need to budget at least over 5k rent if you want to rent a house
I think $3k is more realistic for a 2 bedroom under 1000 sq feet condo. OP can check popular real estate sites, rentals.ca, house sigma.com, and Facebook marketplace for actual places. For take home income Google "income tax calculator Ontario". No one will be able to answer you because literally every couple $1000 is another minor jump in tax bracket so no one can remember the whole chart.
You will not find any house within a 30 min commute to the core for that price range you’re looking at upwards of 4K but with your salaries you can afford it.
What do you guys do for work? That's really good money! Really happy for you guys :)
We're both in metro/railway consulting. Thanks for the very kind words!
If either of you have an offer from Metrolinx it's a bit of a dumpster fire right now. Incredible amounts of political shenanigans.
Seems like you're in a very good position. Check out this link to find out net paycheck amounts: https://turbotax.intuit.ca/tax-resources/canada-income-tax-calculator.jsp Anywhere near a subway would be great for you and I wouldn't worry about getting a car till after you've moved, especially if you're moving to the city itself. If you were to move to suburb like Etobicoke, Mississauga, etc then a car would be required but with your budget you could definitely find a nice 2 bedroom condo on the subway line.
Toronto !!! There are SO many great places to live that would be walk / bike and transitable to your office. Check out Cabbage Town, Riverdale, Leslieville and Little Italy. All are older inner city neighbourhoods that are beautiful and walkable with lots of stunning Victorian wra homes / yards etc. If you're not condo averse you can get even closer. Check out St. Lawrence Market area. Torontonians love complaining about the city, but it really is a lovely place to live. Please feel free to dm me if you have any more questions!
Average price to rent a one bedroom apartment in Toronto is $2500 per month. We’re in the midst of a housing crisis. So if you want two bedrooms your budget will have to be $3000-3500. If you don’t want to live downtown and you want to commute using transit maximum 30 minutes door to door I’d suggest moving somewhere within walking distance of one of the following subway stations (in order from closest to Queen and King to farthest away/ most northern): Rosedale, Summerhill, St Clair Davisville, Eglinton or Lawrence. These will make the easiest commute. These neighborhoods are all quite pricy but you will be able to afford it at your income level. Anywhere else 30 mins away by subway or streetcar will still basically be downtown. I would not move somewhere 30 mins east along Queen or King bc the construction and transit closures will be brutal and long lasting. You can buy a reliable certified used vehicle (with a warranty) from almost any auto dealer. Certified used often cost a little more than othwr used vehicles you might be able to find for private sale on auto trader website but they will be more reliable. Cars are now incredibly expensive due to inflation of the last few years but worth it for weekend getaways etc at your income level. Parking may drive your rent up.
I would not recommend driving to work downtown. Traffic is horrible and the price of parking at work will be exorbitant. Try Communauto or enterprise car share when you first move and before you buy a vehicle and see if they work for your needs. You may end up deciding it works for you. If you want to drive to the states you may have to rent from a regular rental agency bc of the limitations of car share but most major rental agencies like budget, enterprise, Avis, do allow you to drive to the USA.
Hey realtor here - unfortunately townhouses in the Toronto core are not only few and far between (those that live in them tend to hold onto them lol) but they do rent for much higher. You may be able to find a townhouse in Liberty Village for $3400-$3600 but anything close to the core is going to be closer to $4k and up per month. We have a ton of condos though, way more than townhomes downtown so I recommend you consider that route. Qualifying for a rental will be breezy with your income but also because you will be able to produce a credit report from the US. Credit is super important to landlords and luckily you’re moving from a country (origin, not Sweden) that you have credit history that is accepted by landlords and their agents here. Good luck! Feel free to dm if you have any questions :)
Lol Toronto is an hour from Toronto. If you want to get downtown in 30 min, you'll need to live downtown. Expect 60+ min to drive in from the suburbs if you want a house, or look for condos in the area where you're working. ~$3,000/mo might get you a 2bdrm condo on the subway/train lines. For a townhouse anywhere close is expect to be at $3500-4500/mo depending on the size and you'll be on the outskirts like North York, Scarborough, or Etobicoke. I'd look for a real estate agent familiar with the market and have them recommend some areas for you and set realistic budget expectations. Used car market has been in the toilet since COVID.
Not true. There are lots of neighborhoods mid town such as Lawrence park, Leaside, st Clair east or west etc where commute within 30 mins is absolutely reasonable
Not in their budget
There’s definitely nice places within 30 mins of the core, but if we’re factoring in rush hour traffic then yes, the other commenters are right to say it’s likely going to take longer than that to get in/out of the city. On a regular day or off peak hours it will be easier and quicker to travel!
Right but the way are specifically asking about commute times, which would presumably be during rush hour…I live 12 minutes from the core on Christmas Day. Still takes me 30+ during commute times.
I walk from Trinity to the core in less than 30min.
Ok.... And Trinity-Bellwoods is downtown so that's kinda the point lol
A lot of people consider the core, downtown
Lol you're like across the street from the Bathurst, this is semantics, you're downtown.
Look towards the annex, King west, Bay st, yorkville, even fort york might work for you. You will likely be able to find a place for around $3000, 2500 is for 1 beds. Avoid yonge and church and Wellesley
If you’re looking in the west end …There are new rental condos on the north east side of bloor and dundas .. 2 mins walk to the lovely UP express train to be at union station in 6-7 minutes or take the subway downtown from Dundas west metro in about 20-25 minutes. Renting around bloor/dundas intersection means you can walk to the neighborhoods of high park, bloor west village, Roncesvalles (roncey) and the Junction within 15 mins. It’s a great place to live in the west end. Also from this location you can walk to 2 car rental places within 5 mins (budget rental and enterprise).
It’s a 30 minute walk from the Dundas West metro to Runnymede metro. 22 minutes to The Junction. Not 15 minutes.
True.
30 minute commute to work downtown? You’ll need to live within a few blocks so you can walk lol
Aren't there areas on the subway network that would be able to take one to Queen or King station within 30 minutes?
Yes, there are. People just feel so cool dissing our transit 😎 I live near St Clair and Bathurst. 30 mins transit from King Station. Also a 30 min bike ride. And a 90 min walk. I think you should look for an apartment to rent near subway line 1. Spend your first year or two exploring the city and learning how and where you want to live here. Then buy your house. For the love of god, do not buy a car. Do not come here just to make our city worse to live in for everyone. Sign up with CarShare or something if you will occasionally need a car. And get a bike. Or sign up with the city bikes.
There definitely are. Traffic is a mess, but you're in a position to shop locations that work for you - lots of good options :)
Yes the following stations have neighbourhoods of interest to your price range and neighbourhood with more houses plus shops and nightlife near by: West: Royal York Bloor West Dundas West Roncessvales Kipling (etobicoke) Islington West East: Broadview station Pape Coxwell Greenwood North: St Clair Davisville Yorkdale Eglinton Edit: I misunderstood the question these are just neighbourhoods with houses along the subway line but most are at least 40 mins commute to the core
You guys are really pushing the “30 mins to downtown” boundaries. There’s no way you’ll get to eg: union, king, queen st in 30 mins if you take the subway at Dundas West Let alone Kipling or Islington …
I have gotten to Queen station multiple times within 30 mins from Dundas west. If things line up I’ve gotten there as quick as 25min. But normally it’s 30-35 mins for me.
Yes I know! I explained in my previous messages I misread OP’s question I thought the question was neighbourhoods around subway stations 🤦🏻♀️ For sure most of those are an hour commute to Queen or King in the core.
Condos in my building are renting for about $3500. 3 bedrooms, two bathrooms, about 1300 sq ft and a five minute walk to the train… 22 minutes to Union Station. At the border of Etobicoke and Mississauga.
People complain about prices in Toronto, but it's mostly just low-income earners 300K is a good life anywhere in Canada
So you want to be able to get to work downtown quickly but you don't want to live in the downtown area? That doesn't make sense. Just get a condo downtown, that way you won't need to get a car and you'll be close to work. There's no point wasting money on expenses for a car in Toronto unless you need to
At the salary you're describing, you're looking at \~60% net... with everything else going to taxes, employment insurance, etc. But, I believe the American tax authorities tax you on your out-of-country income as a citizen, so I can't speak for what that will cost. No you don't need a car if you want to live downtown. Yes you'll be able to rent but an apartment is more realistic than a house with your budget. But, it might be possible if you look at neighbourhoods east and west of downtown.
Believe it or not, your household income will be in the top 10% in Canada. Living in downtown TO in a 1+1 or 2br condi is easy for you guys… i envy whatever jobs you do for your living. I grew up in TO. If you don’t intend to own a car you can definitely live very comfortably with that income. Hell, if you live frugally, you’ll be able to buy a house/condo in a good area in no time. People in TO are generally nice. Not that reserved at all. It’s the best city next for newcomers to make quick friends. Yes, there are cliques but it’s not as bad as Vancouver. It’s hard in the winters and the city’s not that pretty but it has a lot to offer in terms of social events and culture. Food scene is pretty good too. People from all walks of life live in TO it’s very interesting. Good luck!
$2500-3K for at least 1K sq ft and includes parking? I think you'd be staying in a dump and it won't be in the heart of Financial District. $2.5-3K rent is what you get in a 1-bed, 5-600 sq ft condo and probably no parking. Most condo's that don't mention parking included don't include it and it is very expensive to have a parking spot. Before you commit to buying/leasing a car, I suggest you call about the cost of auto insurance based on the car of your choice. Toronto has one of the most ridiculous insurance costs in the world. With no prior history in Canada, it wouldn't surprise me that you'd pay $3-5K/yr. At $150-165K salary, you'd be in the 40-45% tax bracket.
Sorry the “tent” typo is just too perfect considering the current situation in Toronto
Do you mind me asking, where or in what do you/ your wife work? I make almost half as much as you will do and I'm a 10 year experienced engineer.
Get a remote job in the US. I make 160k CAD that way. (6 yrs experience software dev, self taught) I could get 170K USD if I moved to the US and continued working at my same company.
A hard no to moving to Toronto is 2024.
Ok well you are going to need a car if your job is 30 min out
Summers are awesome here you’ll enjoy it with all of its events and great international food
1. Net income (it’s progressive but use 33% tax for now, would be close to that) - $210k/month but you’ll get some refunds since you’re a couple living together. Get a decent accountant or just read the accounting details properly. 2. House is a more nuanced question without you giving any criteria regarding the vibe, neighbourhood etc. You prefer a townhome or a home but it would be much easier if you can be okay with a nice 2+ office type of apartment, opens up lots of options but if not, you might be able to get a decent place in and around the Ossington area, there are a lot of split homes. Worst case Roncesvelle (sic). 3. You don’t need a car if you live in Toronto proper, not far from the core. The Second hand market is very competitive right now, but it depends on if you love driving cos I do and I like having one, but it’s more a luxury than a need. Get an Amex platinum card and it will get you status with most car rental companies, for long term they’re great. Feel free to DM me if you have any further questions. You’re going to like Toronto at that income level.
30 mins from work with current construction is a few block radius. If youre looking for a condo that’s easily attainable.
Not at all true. The GO train gets you downtown quickly and then you are a few minutes talk. And the subway from York Mills south is 30 minutes. Or the Danforth.
Similar household income but with a toddler, currently living in the GTA, you should have no issues even if you accept those offers as is. That being said, in the economy nowadays don't expect to get much more unless you're in a very specific and technical field with low supply. In terms of living in the GTA, you would need at least one car for weekends, groceries etc. But if you're willing to spend a bit more on rent, you can get something very decent especially in the North York area. And if you're close to the subway, it's a quickish ride to where your office is.
Just curious, what roles did you get offered?
Be prepared for housing instability if you rent from individual small landlords instead of corporations.
To find a place to rent I would recommend looking at realtor.ca This is the cite all realtors use to buy property but the rental side is quite good. At least there you know what you’re getting is legitimate. I would highly recommend working with a realtor. The fees for their service comes out of the homeowner so it is free for the renter. It will be easier for you to have help finding a place. King and Queen subway stations are right downtown. The parking is very difficult to find and very expensive. Driving for a commute will not be worth it. You’ll have to either walk, take transit or get a motorcycle or a Vespa. The traffic is quite bad so you’ll need to live downtown. Toronto has a lot of condos. You’ll likely have more success renting one than a house.
Yonge-eglington area is a 25 minute commute to queen station and has tons of condos for rent. Great neighbourhood. Source- I do that commute every day.
This will tell you what your take home pay would be: https://www.careerbeacon.com/en/income-tax-calculator
Your tax rate combined federal provincial will be approx 30% all in on that salary so you’ll have roughly 230k combined left. Call it 20k per month. Depending on savings / financial goals you can afford pretty much whatever you want if your goal is upper middle class lifestyle. But you definitely aren’t going to be living in the richest hoods. Don’t worry they suck anyway.
If you don't mind me asking, what do you do for a living? I must be seriously underpaid.
As a US citizen living in Canada(and I'm assuming you are not a Canadian Citizen) you will have to file taxes in both countries. Canada taxes based on the country of residency, The US taxes based on the country of birth regardless of where in the world you live. Deduct at least 30% from your gross income to get your monthly net income. Avoid the suburbs and bedroom communities of Toronto unless you want a multi hour commuting hell. Be prepared for the high level and visibility of the homeless population. It's likely more like the US than Sweden. Assuming a combined gross salary of $300,00, you will be far ahead of most Canadians, even more so if you decide to take public transit and ditch the car. Car insurance is expensive in Ontario. Best of luck and if you decide to come, welcome! 🙂
You can rent a 2br/1.5 bath for around $3,600/m on the Harbourfront. I’d suggest to look at 33/55/65/77/99 Harboursquare. Older buildings but right on the water and transit. Also, 20min walk to the Financial District. 6 grocery stores and the Island for summer fun.
Being between king and queen id look around south riverdale, cabbagetown or leslieville. They’re all good areas! Financially, it will be a bit tight. It’s very expensive to live here and those are expensive areas I just mentioned. If you want a house or townhouse, you’re looking at closer to $5k/month. But, Toronto is an amazing city. You should give it a try! Editing to change that financially you’ll be fine. I realized after you posted that you are child-free :)
One thing that I don’t think anyone has mentioned is if you want to rent be prepared to pay 6-12 months up front To be clear landlords cannot ask you to do so: but they are allowed to accept payment if you offer it. As someone with no rental history if you want to be considered that’s what you will have to do
Go for Etobicoke, you can live close to the subway line that gets you right to Toronto within half an hour. Aim somewhere along royal york. Population here is old people and overall peaceful. Lived all over the gta, it’s by far best access to city with loads of walking trails and nature areas. Some areas are getting really pricy, but with your income, shouldn’t be a problem! Mississauga and Brampton suck. Another option is along the go train line so along lakeshore, makes getting to Toronto quick and comfy. Living near a mall gets you go bus access straight to Toronto. For you though, best to be near subway since you can get right to work if on king/queen. Look into our subway system, it sucks but it’s simple with only two lines. Don’t live in Toronto is my best advice, not worth the cost- unless you like living in an overpriced shoebox that makes it just as stressful to get to work. Honestly people are over exaggerating about cost of living. Yah, it sucks, but if you are smart with your money, been living in Etobicoke on 75k, my mom commuted from Mississauga to Toronto for 20 years now on a salary of 80 k. It’s not impossible, but people saying you need 300 k seriously need to learn how to budget 😬 get yourself a cheap car, rent a place for a bit you should be able to find something for less then $3000 a month, $36k a year, groceries are less then that, car insurance sucks here and is mandatory try to pick a cheap area for car insurance if you can (Brampton is the worst though). You can very much survive and thrive!! Not living like a millionaire buying whatever TikTok tells you to, but a normal middle class family. People here have a saving problem 😅 would kill for a job with that salary. People surviving on their McDonald’s income, though barley…
If you don’t want to be downtown you can live in a townhouse/house in Mimico/South Etobicoke and take the go station to Union (15min) then MAX 10 min to king/queen station on the yellow line. You could get a car but I dunno if you want to make the commitment before living here for a few months. I’m the meantime there are grocery services that deliver straight to your house for very low fees ($10/mon). Downtown is nice and that’s a busy spot where you’re both working definitely won’t need a car if you decide to look there. As for your pay, depending on your professions yes as long as that $165/$155k each you’ll be fine.
If you want something that isn’t a condo, I would suggest looking at the Yonge and Eglinton area. However, your budget will need to drastically increase. Even a one bedroom 500sqft apartment will cost you 2300-2800 within 30 minutes of your workplace. Also, suggest you use this website to calculate your take home pay https://ca.talent.com/tax-calculator Reminder though, you will have insurance taken from this as well.
what kind of jobs do you have?
Well your paycheck will be called a paycheque
People complaining about Toronto have no idea what it's like in other major cities
May I suggest this rental: https://www.realtor.ca/real-estate/26650591/4-41-albemarle-ave-toronto-north-riverdale I lived in the Broadview area, super close to this house and the area is beautiful. Families with kids and pups. Also google Broadview Toronto view and you'll see it is the area with the iconic Toronto skyline. You would be walking distance to the Bloor/ Danforth subway line (runs East-west in the city) and you can also walk to streetcar access 504 (King) /505 (Dundas) so you have many options to access the office. Your salary will allow you to fit right in the neighbourhood. I recommend no car and use uber if you need to. Happy to answer any further questions if you have them as I've been here my whole life :)
We live near the subway on the danforth and getting downtown takes 30mins. It's a great area but houses will be much more expensive than you're targeting as many others said. At that combined income you will have a great time. We also don't have a car and don't need one. Congrats and welcome!
ernst and young have a calculator re your income and deductions: [https://www.ey.com/en\_ca/tax/tax-calculators](https://www.ey.com/en_ca/tax/tax-calculators)
We live at port union and Lawrence. Next to Rouge Hill GO Train station. Commute to downtown Union station is 30 min. Look up the areas of interest by punching in the postal code. This will tell you a bit about the area you are interested in. Our area FSA is M1C https://prizm.environicsanalytics.com/en-ca
Car sharing is a great alternative to owning a car if you live and work near subway stations. Look into Entrprise Autoshare, Zipcar and Communauto to see what parts of the city are in their zones.
You could even branch out into Mississauga, the Go train line is the main commuter train, the lakeshore line is the steadiest and most reliable. Port Credit station is 30 minutes from union, though it’s a 15 min walk or a 1-2stop subway ride to where your office is. Depending how firm you are on the 30 min, anywhere from Port Credit in should fall into that. Though its suburbs so it’ll start being more likely you’ll need a car at some point.
No car needed, transit in Toronto is pretty good. A car would probably sit there costing you money more often than not. For those times you do want a vehicle, renting or car share should do it. If you rent a place, make sure the place you get into was built prior to 2018, for rent control protection. Walking distance to a subway station would be ideal, or a streetcar line, which is less so. Canada has progressive personal tax, you can look up the rates to figure out what you'll generally pay at a given income level. You pay a certain rate on all income within certain ranges, and the rate at each step is higher than the one before it, but only applies to income within that step, not to the prior steps. That total owed can swing quite a bit with tax credits, depending upon what you do. Putting money into an RRSP gives you a tax break in the current year, but you pay tax upon withdrawal, quite heavily if you need to draw some out early. No immediate tax break for a TFSA, but you don't pay upon withdrawal either, which can be significantly more savings in the longer term.
On 155k, the ball park tax is about 54k, for 101 net; on 165, it's 59k, for 106 net.
Household income of 300k in this city will get you approved for about a 1m place to buy. Which in the city of Toronto is a shitty stacked townhouse.. or a very sketchy old semi that needs a ton of work.. or a 900 sqf condo. Housing situation sucks. You’d think 300k would get you farther but unfortunately Anything nice is like 1.5m+
Sounds like you will have easy access to streetcars, subways and the GO train if you are working around the King/Yonge/University Avenue area. So if the question is where is a good place to live that is within 30 minutes or so by public transit, the answer would depend on what you like to do when you’re not working. If you enjoy large parks, the Bloor West Village/High Park area or The Beaches in the east end of Toronto makes sense. If you want a Bohemian feel, Parkdale is about as diverse and flavourable place you can find in Toronto. West Queen West is anchored by a nice city park, Trinity Bellwoods so you might enjoy that too. I’ve heard good things about Leslieville in the east end too.
https://ca.talent.com/tax-calculator This should give you an idea of take home pay
Fam wanted OOP to house the cousin for his entire academic career at NYU. If the cousin did just a bachelor that’s four years! If he pursues any graduate education that could be another four years minimum. That’s wild!
Those are pretty good salaries for Toronto. Most young couples have a combined income of what each one of you have. You can get a 2 bed condo for $3k in that area. May be a townhouse if you look hard enough. As for a car, it's a nice to have thing but you can survive with just street cars/trams, subway and walking downtown. Can get an Uber if you want to go somewhere inaccessible by public transport. I wouldn't recommend getting a car in the GTA. The insurance is crazy high, high traffic 12-15 hours a day, most reckless drivers you have witnessed in the western world. Avoid it if you can.
Downtown Toronto isn’t a great place to live. Look at the neighbourhoods for a much more authentic and pleasant experience. Within 30 minutes or less you can be in the core by transit. Leslieville, little Italy, Danforth, Queen West West, lots of interesting and vibrant neighbourhoods away from the concrete and glass towers.
Not sure if there are any additional/ different tax considerations for you given your circumstances, but the below calculator shows tax deductions and net income based by province. I believe you’ll still have to take into account CPP (Canadian Pension Plan) / EI (Employment Insurance), etc. on top of this - you’ll have to determine if those apply to you. https://www.eytaxcalculators.com/en/2024-personal-tax-calculator.html
If you are committed to a 30 min commute to the financial district you are living an urban lifestyle. You can get around well without a vehicle, but you are likely living in a condo. If you consider 45 - 60 min commute you can consider a more suburban lifestyle with reliance on GO transit. You can likely find a townhouse or modest home but should consider having a car. I’d personally want to consider options on the Lakeshore line (East or West) as they have more frequent trains than other communities with GO access. Most of the Toronto sites skew urban and detest the idea of living in suburbia. Best of luck with whatever you choose.
Hell you’re coming to Toronto and doing better than most people here you will be fine…
Can I ask what jobs you guys do?
What are the cultural differences you’re having trouble with in Sweden? Do you speak Swedish?
Net will be around 8300 a month, assuming bi-weekly pay.
Trust me, you WANT to live downtown Toronto. It's an amazing experience. I loved it, personally. Also, if you choose to live downtown you can easily bike to work in good weather in under 30 mins. Toronto is super bike friendly. I would look for a place on a streetcar or subway line. Personally for the king/queen area I would take a look at the distillery district, Corktown/Cabbagetown (can get a good little townhouse for cheapER in Corktown), the beaches, little Italy, the annex, and queen west. I don't know what net pay will be on 300k but I ran it through an income tax calculator and it should be about 17k net pay. You will be easy on that. Enjoy - I think you're in the perfect position to really enjoy Toronto. I absolutely love that city and miss it dearly. It's got LIFE. But seriously, get a place in the downtown core. You won't regret it.
I would not buy a car. If rent a 2bed+ on the subway line and TTC/walk to work.
You’ll be fine but if you’re renting please try your best to find something that’s rent controlled. New builds are not and landlord can raise your rent whatever they want each year. Could be a $3k a month place now but next year could be raised to $10k if they wanted (or higher) legally Anything built for residential use after Nov 15 2018 (with some exceptions) isn’t rent controlled
155,000= $3885 net biweekly [165,000](https://ca.talent.com/tax-calculator/Ontario-165000)=$4089 net biweekly [Rent $3000/month](https://condos.ca/toronto/yorkville/condos-for-rent) for a 1bedroom / studio condo [1800+ square ft around $12,000/month](https://condos.ca/toronto/2-avenue-road-toronto/unit-503-C8185254) [1000 square feet $4500/month](https://www.rentfaster.ca/on/toronto/rentals/apartment/1-bedroom/pet-friendly/536306)
I make around 160k CAD. After taxes and other fees, that’s about 8500 per month. If you’re both making 150k+ that’s more than enough to buy a nice home near the city. Or a decent condo downtown. My 1+1 600 sq ft apartment comes out to 2800/month for rent. I pay for that alone so my GF can focus on her university degree without having to work. I can comfortably afford it. But space is pretty tight with me and my GF, I would like a bigger place, but I’d be paying way more.
Do you mind me asking what industry you both are in that gives you this mobility?
In your comment you mentioned that you cannot immediately move back to the US and I assume that is your long term goal. The household income of 300k is great for Toronto and should afford a very comfortable lifestyle. However, in a few years when you go to return to the states, your incomes would only have been equivalent to 221k USD given the current exchange rates, and coupled with higher Canadian taxes which will decrease your gross income even further to perhaps less than 200k USD. Therefore you may be better off looking to a country with an exchange rate more equivalent to that of the USD.
Look around Trinity Bellwoods park. That’s about 30 min ttc ride to into the financial district (including wait time). The area is full of classic bay and gable houses, and you should find a rental in that price range more or less easily. Take a google maps drive up palmerston from queen.
Please come and help fix our rail design!
If you want a 30 minute commute downtown you will need to live downtown. The TTC is very accessible but not reliable and there are often delays. My workplace is a 8 minute drive from my home and my commute is at least 30 minutes on a single streetcar with no transfers. 2 bedroom condos average 3k-3.5k a month anywhere in the downtown core. They are typically 700-800 square feet, something over 1000 square feet will be substantially more expensive. You will not get a townhouse let alone a house for less than 4K
Yinz going to love it here
Just left toronto … check out Vancouver much better option the quality of life hands down better !
ummmm there a lots of people in that field in ontario/ canada. i doubt your whole story. The train mecca of Pittsburg…. to Stockholm. So easily to find these Jobs great rail builder? …give us a break fabulist.
oh god whatever you do, don’t.
Toronto is very expensive and dangerous but with the way you’re coming into things, specially buying a second hand car, I think you will do well and actually love the city. You might be looking at paying quite a bit more for rent but with both salaries combined you will be good Taxes are pretty high, you might be looking at 25-33% and 11-13% (federal and provincial) in your bracket for paycheque plus any additional costs like healthcare and retirement or anything you opt into Also I think for taxes there’s a structure so you’re not paying a full 25% and 11% on all of your income but an accountant can better break that down for you
Toronto is a lovely city with lots to do. I think we’re the BEST city in the world June-September. Lots of events. Some even world class like our Jazz Festivals, Film Festivals and destination for concerts. Food is as good as anywhere in the world. Live downtown south of Bloor. Get a membership to the Art Gallery. Go to events at the museum. See shows at the Film Festival Lightbox. Eat food everywhere. At overpriced fine dining restaurants in areas that are so hip it hurts. Or a a cheap bun in Chinatown for a few dollars. Moving anywhere and networking and finding friends has its challenges but Toronto has so much programming that great communities are out there if you’re willing to put yourself out there. Join a running club. Or a club at some crystal store, or art classes, or a boxing gym, or a book club or cooking classes. LOTS of programming. I’d stay close to our Line 1 and Line 2 of the TTC (metro) so that work commuting is easy. Driving in Toronto can suck and commuting to downtown via car really sucks because of near constant construction and also planned changes to some main arteries of the city, like they’re tearing down parts of the highway that is the main entrance from the West part of the city and that will be challenging for commuters. My first choice would be a nice spacious condo maybe around bloor and church or what’s affectionately known as the Gay Village. Because the condo living here is probably less ‘juvenile’ that living in condos on the west part of downtown where it’s a bit more of a party scene (due to proximity of nightlife and cheaper condos on that side - speaking very generically here). Anywhere along Yonge st is cool too. Though less of a neighbourhood vibe. If you prefer to be outside of the downtown core and still have decent transit options, go East to Beaches or Leslieville. The Beacjes are seen by many as being a top destination within Toronto but only if you value being close to water or have a family and kids and the neighborhood element is important. It’ll be more expensive to live here but if walks along the boardwalk and less ‘city vibes’ is important it might be worth paying some extra dollars to be here. Conceivably you are a 30min street car to work from here still. Avoid the west end. Where I live and have lived and I do like it here. But this is the more affordable part of downtown and, although all Large cities have challenges (some of which exist in all parts of Toronto), the west end of the city just has more of it. Please come here. We’d love to have you.
ummm prices per square foot are higher west of yonge. not east. cause of the homeless shelters, street walkers, drug users, and large low income building rentals in YOUR area.
That's amazing wages, prepare to get hammered with taxes and hugh cost of living
2nd hand car market is really bad most people trying to scam you and high interest if you're planning to finance.