Cost of Living in Toronto, Ontario

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Cost of living in Toronto

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2008 Housing Prices

Type	Price	Qualifying Household Income*
Standard Two-Storey	$475,888	$115,833
Detached Bungalow	$425,126	$102,625
Townhouse	$326,814	$79,482
Condo	$287,639	$69,767
* Based on a 25% down payment and a 25-year mortgage loan at a five-year fixed rate -excluding maintenance fees. Source: RBC. March, 2008.

Date	Average House Price*
January-July 2006	$353,135
January-July 2007	$371,055
* Based on properties sold through the Multiple Listing Service. Source: Canadian Real Estate Association. 2007.

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Average Rent for Two-Bedroom Apartments in 2007
$1,061 per month
Source: Canada Mortgage and Housing Corporation. 2007.

2006 Average expenditure per household

Concept	Annual Amount
Food	$8,067
Shelter	$17,049
Household Operation	$3,669
Transportation	$9,910
Personal Taxes	$17,437
Source: Statistics Canada. 2008.

Public Transportation

	Ticket	Monthly Pass
Regular	$2.75	$109.00
Senior/Student	$1.85	$91.25
Source: Toronto Transit Commission. 2008.

2005 Average Car Insurance in Ontario
$2,383.64 per year
Source: Car Test .ca

2007 Minimum Wage
$8.00 per hour

Consumption Taxes
In Toronto, two different taxes are applied to products and services. The federal Goods and Services Tax (GST) is 6%, while the Provincial Sales Tax (PST) is set at 8% and applies to the selling price including the GST. Some items including groceries, restaurant meals, and books are PST exempt.

2007 Federal Income Tax

Net Income	Tax
Basic Personal Amount	0%
Up to $37,885	15%
Up to $72,769	22%
Up to $123,184	26%
Over $123,184	29%
Source: Canada Revenue Agency. 2008.

2007 Provincial Income Tax

Net Income	Tax
Basic Personal Amount	0%
Up to $36,020	6.05%
Up to $72,041	9.15%
Over $72,041	11.16%
Source: Ontario Government. 2008

2006 TOTAL VIOLENT Crime Rate
738 per 100,000 population.

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