Cost of Living in Calgary Compared to other Canadian Cities (Toronto, Vancouver & Montreal)
Calgary has a lower cost of living compared to most other Canadian cities. These cost savings are distributed among different expenses but the biggest factor is the lower cost of housing and rental prices. This article will compare the cost of living in Calgary versus other top major cities in Canada; Toronto, Vancouver and Montreal.
Cost of Living Comparison - Calgary vs All of Canada
Rent & Real Estate Prices - Calgary vs 10 Major Canadian Cities
Salary - Calgary vs the rest of Canada
Cost Of Living Comparison - Calgary vs Toronto
Breakdown Of Monthly Costs - Calgary vs Toronto
Rent & Real Estate Prices - Calgary vs Toronto
Other Financial Factors - Calgary vs Toronto
Salary - Calgary vs Toronto
Cost Of Living Comparison - Calgary vs Vancouver
Breakdown Of Monthly Costs - Calgary vs Vancouver
Rent & Real Estate Prices - Calgary vs Vancouver
Other Financial Factors - Calgary vs Vancouver
Salary - Calgary vs Vancouver
Cost Of Living Comparison - Calgary vs Montreal
Breakdown Of Monthly Costs - Calgary vs Montreal
Rent & Real Estate Prices - Calgary vs Montreal
Other Financial Factors - Calgary vs Montreal
Salary - Calgary vs Montreal
Cost of Living Comparison - Calgary vs All of Canada
Living in Calgary is more affordable than many major Canadian cities, but slightly more expensive than the national average. On average, the cost of living in Calgary is 3.75% more expensive than the rest of Canada , largely due to lower housing costs in rural areas pulling down the national figure.
Calgary ranks among the top cities in Canada when it comes to healthcare, culture, environment and stability. When comparing the cost of living in Calgary to the cost of living in 10 major Canadian cities (Toronto, Montreal, Vancouver, Calgary, Edmonton, Ottawa, Quebec, Winnipeg, Mississauga & Victoria), on average the cost of living in Calgary is 2.75% more expensive, making it relatively affordable among large metropolitan areas.
Rental Rates & Real Estate Prices - Calgary vs 10 Major Canadian Cities
The cost of purchasing a home in Canada is generally higher in metropolitan cities versus rural areas. Looking at the housing affordability statistics of a composite 10 Canadian cities (Toronto, Montreal, Vancouver, Calgary, Edmonton, Ottawa, Quebec, Winnipeg, Hamilton & Victoria), we see that the average monthly mortgage payment is $4,405. In comparison, the average monthly mortgage payment in Calgary is $3,610, a little under $1,000 less a month. If you're interested in looking at some new homes and condos in the Calgary area, you can visit the Minto Communities Calgary home page.
Looking at these same 10 Canadian cities, we see that to rent a one bedroom apartment in the city center would cost $1,821 versus just $1,600 in Calgary. If you're interested in looking at some rental options in the Calgary area, visit our Apartments site to see the current vacancies.
In general, the cost of purchasing a home/condo, or renting, in Calgary (compared to other Canadian cities) is quite affordable.
* Non-condo home prices. Data retrieved from the Housing Affordability Monitor
Salary - Calgary vs the rest of Canada
The low cost of living is not the only benefit of living in Calgary; Calgary is known to have high salaries. According to Statistics Canada data from 2022, the average yearly salary is $65,700 in Calgary versus $55,300 in the rest of Canada, 18.8% higher.
*Source: Statistics Canada
Cost Of Living Comparison - Calgary vs Toronto
Toronto is one of the most expensive cities to live in (Canada) and not surprisingly living in Calgary is more affordable than living in Toronto. On average the cost of living in Calgary is 8.5% cheaper than Toronto. According to Numbeo, $9,149.10 Calgary would give you the same standard of living as $10,000.00 would in Toronto. Some of the factors contributing to the high cost of living in Toronto, the provincial capital of Ontario, are high housing demand & low housing supply, international appeal and the harmonized sales tax (HST).
Breakdown Of Monthly Costs - Calgary vs Toronto
Although Calgarians spend 9.0% less per month compared to those in Toronto, these savings are not evenly distributed across all expenses, with rent and mortgage costs being the most significant factor. While overall consumer prices (excluding rent) in Calgary are only 2.4% lower than in Toronto, there are differences across categories. For example, restaurant prices are 9.6% lower in Calgary, making dining out more affordable, while grocery prices are actually 2.6% higher in Calgary.
Rental Rates & Real Estate Prices - Calgary vs Toronto
The biggest difference in the cost of living between Calgary & Toronto is in housing and accommodation. Calgary is significantly cheaper in terms of rental rates and real estate prices when compared to Toronto.
If you were to purchase an apartment in the city center, it would cost $706 per sq.ft in Toronto versus $421 per sq.ft in Calgary. This translates to a notable difference in monthly mortgage payments: the average monthly mortgage payment in Toronto is $6,488 versus $3,610 in Calgary. Furthermore, to purchase a home, a down payment of $234,357 can be expected in Toronto versus $40,198 in Calgary.
To rent a one bedroom apartment in the city center, it would cost $2,353 in Toronto versus $1,600 in Calgary, a difference of $753 a month.
Other Financial Factors - Calgary vs Toronto
Personal income tax rates vary by province. In Alberta, the 2025 taxable income for the first $60,000 is 8% and over $60,000 up to $151,234 is 10%. In Ontario, the 2025 taxable income for the first $52,886 is 5.05%, over $52,886 up to $105,775 it is 9.15% and over $105,775 up to $150,000 it is 11.16%. Therefore this is a wash and depending on your income bracket, either province could potentially be a better option in terms of lower income taxes.
Salary - Calgary vs Toronto
The low cost of living is not the only benefit of living in Calgary; Calgarians also benefit from higher salaries. According to Statistics Canada data from 2022, the average yearly salary is $65,700.00 in Calgary versus $62,100.00 in Toronto, 5.8% higher.
Cost Of Living Comparison - Calgary vs Vancouver
Living in Calgary is significantly more affordable than in Vancouver. In order to maintain an equivalent lifestyle, you would need $4,721.50 per month in Calgary, compared to $5,475 in Vancouver. This means on average, people from Calgary spend 16% less a month compared to those in Vancouver.
Breakdown Of Monthly Costs - Calgary vs Vancouver
Like Toronto, the comparative costs of living in Calgary versus Vancouver differ across expense categories. Calgarians spend 14.1% less per month compared to those in Vancouver but these savings are not evenly distributed, with housing/rent costs being the most significant factor. In general, consumer prices in Calgary are around 4.1% lower than in Vancouver. Looking at some key categories: we see that restaurant prices are 7.5% lower and grocery prices are 5.3% lower in Calgary when compared to Vancouver.
Rental Rates & Real Estate Prices - Calgary vs Vancouver
The most noticeable disparity between the two cities, when it comes to the cost of living, is housing. Calgary's rental and property prices are notably lower than those in Vancouver.
Purchasing an apartment/condo in Vancouver’s city center would cost $1,113 per sq.ft versus $421 per sq.ft in Calgary. Purchasing a home in Vancouver, you’re looking at $890 per sq.ft versus $470 per sq.ft in Calgary. This results in a significant variation in monthly mortgage installments. The average monthly mortgage payment in Vancouver is $7,091 versus $3,610 in Calgary. The average down payment for a home in Vancouver is $256,131 versus $40,198 in Calgary.
To rent a one bedroom apartment in the city center, it would cost $2,522 in Vancouver versus $1,600 in Calgary, an additional $922 a month.
Other Financial Factors - Calgary vs Vancouver
In Alberta, the 2025 taxable income for the first $60,000 is 8% and over $60,000 up to $151,234 is 10%. In British Columbia, the 2025 taxable income for the first $49,279 is 5.06%, over $49,279 up to $98,560 it is 7.70%, over $98,560 up to $113,158 it is 10.50%, over $113,158 up to $137,407 it is 12.29% and over $137,407 up to $186,306 it is 14.70%. Therefore if you are making more than $98,560, you pay a lower income tax rate in Calgary when compared to Vancouver.
Salary - Calgary vs. Vancouver
Not only is the cost of living in Calgary more affordable, but residents also enjoy better wage rates. According to Statistics Canada data from 2022, the average yearly salary is $65,700.00 in Calgary versus $60,200.00 in Vancouver. This means the average salary in Calgary is 9.1% more than in Vancouver.
Cost Of Living Comparison - Calgary vs Montreal
Living in Calgary is more expensive than living in Montreal. In general, Montreal is more affordable than many other metropolitan cities in Canada. According to Numbeo, you would need around $5,940.60 in Calgary to maintain the same standard of life that you would have with $5,475.00 in Montreal, assuming you are a renter. The cost of living is therefore around 8.8% higher in Calgary than in Montreal.
Notably, Montreal is the second most populous city in Canada, and its official language is French, unlike the other cities compared in this analysis. Montreal is also the only city in this comparison to have an average salary below the national average.
Breakdown Of Monthly Costs - Calgary vs Montreal
Calgarians spend 8.8% more per month than Montrealers when factoring in rent, with housing being the most significant factor. While overall consumer prices (excluding rent) in Calgary are 5.7% higher than in Montreal, the difference varies across specific categories. For example, restaurant prices are 3.9% higher in Calgary (compared to Montreal), while grocery prices are actually 0.5% lower in Calgary.
Rental Rates & Real Estate Prices - Calgary vs Montreal
Yet again Calgary is the winner when looking at price per square foot. Purchasing an apartment/condo in Montreal’s city center would cost $672 per sq.ft versus $421 per sq.ft in Calgary. Purchasing a home in Montreal city center, you’re looking at $972 per sq.ft, versus $470 per sq.ft in Calgary. Looking at mortgage payments we see a slight switch in affordability. The average monthly mortgage payment in Montreal is $2,959 versus $3,610 in Calgary. The average down payment for a home in Montreal is $28,434 versus $40,198 in Calgary.
Notably, Montreal’s price per m2 is almost double that of Calgary yet we see larger mortgage payments and down payments in Calgary. This is indicative of Calgarians purchasing (and having access to) larger homes and/or condos.
To rent a one bedroom apartment in the city center, it would cost $1,729 in Montreal versus $1,600 in Calgary (Feb 2025). Calgary is the slight winner here but the costs are very comparable and it would depend what area of the city you lived in.
Other Financial Factors - Calgary vs Montreal
In Alberta, the 2025 taxable income for the first $60,000 is 8% and over $60,000 up to $151,234 is 10%. In Quebec, the 2025 taxable income for the first $53,255 is 14%, over $53,255 up to $106,495 it is 19%, over $106,495 up to $129,590 it is 24% and over $129,590 it is 25.75%. Therefore income tax rates are quite high, for certain tax brackets in Montreal (double at times) when compared to Calgary.
Salary Calgary vs Montreal
Although the cost of living is cheaper in Montreal, salaries are generally higher in Calgary and offset the difference. The average yearly salary is $65,700.00 in Calgary versus $54,500.00 in Montreal according to 2022 data. This means the average salary in Calgary is 20.55% higher than in Montreal.
Summary
In analyzing the cost of living across four major Canadian cities (Toronto, Vancouver, Montreal, & Calgary), Calgary consistently emerges as an attractive choice. Calgary is a much more affordable place to live when compared to Toronto and Vancouver. Comparing Montreal to Calgary, Montreal is a more affordable place to live but the difference is much closer and would depend on lifestyle and where in each city you choose to live. In general, the types of expenses/savings seen across each city varies, but the number one factor is usually real estate and rental prices.
In terms of Real Estate and rental prices, Calgary is much more affordable than Toronto and Vancouver (it's not even close) and quite comparable to living in Montreal.
Other financial benefits include: Calgarians typically enjoy higher salaries and lower tax rates for higher income brackets.
Beyond the financial metrics, Calgary provides a balance of cultural richness, healthcare quality, and environmental stability. Overall, Calgary presents a compelling blend of affordability and quality of life in the Canadian urban landscape. For both financial and lifestyle reasons, Calgary is a great place to live.
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