This is How Much Money You Need to Make to Live Alone in Toronto in 2019
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Ah, Toronto.It seems you can’t go too long before reading about how overpriced the city is, especially for renters. Young people living in the city are finding it severely unaffordable, and for good reason. Rent is also expected to rise by 11% in 2019, and who knows how bad the real estate market will get. Right now, the average price for a detached home in Toronto is nearly $1.3 million.
But some of us are sticking it out. Like a mediocre Hinge date (Tinder is so 2018), we’re just giving it some time to suss it out a little more (and enjoy another drink or two). Because, while it is often overpriced and over-hyped, Toronto is actually a beautiful city — and by that we mean during the summer.
And while there is all this excitement about living in the most vibrant city in Canada (also known as the centre of the universe), Toronto’s rep definitely gets tainted by the cost of living here.
Simply put – it is far from cheap to live alone in this city.
Gone are the days of hand-me-down homes from parents, and affordable down payments for mortgages – adulthood vacation is over. So to show how just expensive this city is, we broke down monthly costs based on a single person living and renting in downtown Toronto (while trying to have any kind of life).
Might want to hold off on that extra guac while you read this…
