Recently there have been many videos on YouTube about Canada and the rising costs of living, Some even claim that Immigrants are now leaving Canada, because it became simply unaffordable. The costs of living have gone up and wages are just not keeping up. But is that really true? In this blog we look at different aspects of this topic and compare the costs of living in different places in Canada.
We have also made a reaction to one of those videos, which you can watch here:
Costs are rising everywhere - Inflation
It almost doesn't matter where you are in the world. In the past three years, inflation and therewith the rising costs of living have affected you. In Canada its been the same and because the real estate situation is special here, the cost of housing has increased even more.
So yes, especially in cities like Toronto, Vancouver, Victoria etc. it has become very expensive to live. But keep in mind that Vancouver and Toronto are Canada. They are what New York city or Los Angeles is for the USA or London is for England. None of these places are "affordable".
Has it become unaffordable ?
Of course this question is relative and depends on an individuals situation. If you are single and your job is flipping burgers at McDonalds, then you can probably not afford to live in Vancouver in a one bedroom apartment by yourself. But in a smaller town, it could be possible. Toronto and Vancouver are not Canada, and there are so many nice smaller towns, not villages but towns, that offer jobs in many industries and a lower cost of living. Especially today with more people working remotely, you don't always have to live in the big city anymore, just to get a good job.
The healthcare sector offers well paying jobs almost everywhere in the country, the resource and mining industry is huge in Canada and that's usually far away from big expensive cities.
So has it become unaffordable? No
Has it gotten more expensive to live in Canada in $ terms? Yes definitely
Are immigrants leaving Canada? No, its the opposite, in 2022 Canadas population has grown by over 1 million people (Source: Statistics Canada)
What are the costs of living in different cities in Canada?
Below numbers are either from Numbeo.com or from our personal experience:
1 Room - $550 – 1 bedroom apartment $ 1200
Cellphone - $50 per month
Food ca. 500$ per month for a single
Gas/transportation $1.55/L / 82$ for month pass
car insurance $900/year
1 Room $700 – 1 bedroom apartment $1400
Cellphone - $50 per month
Food - $490 per month for a single
Gas/transportation $1.40/L / $112 month pass
car insurance $1200/ year
1 Room $900 – 1 bedroom apartment $ 2100
Food $495 for a single
Gas/transportation $1.55 / $156 month pass
car insurance $1500/year
1 Room $ 1000 – 1 bedroom apartment $2200
Food $ 500 for a single
Gas/transportation $1.85/L $120 for month pass
car insurance $1800/year
Don't wait for politicians and other people to change your life
As mentioned in the beginning, the costs of living are rising everywhere, this is not unique to Canada. Australia, USA, UK, most of Europe etc. all had high inflation of 10% and more and still have high inflation. And all these countries are run by politicians that are probably responsible for a lot of this. But the reality is, they are not going to change your life and give you a better future. That is something you have to do. You! Yourself! So if you want to have more money, if you want to build wealth and a better future for your children, do not wait for others to make that happen. You have to change your life.
It is interesting to see that in Canada but also other places many times immigrants work harder and smarter than the domestic citizens, they start businesses, try many different things, figure out how to save on living expenses etc. and therefore eventually get further than those who just sit there and complain about everything but don't change their own life.
Do you plan on studying in Canada?
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