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Minimum salary to live in Toronto

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  • Jun 17th, 2016 11:31 am
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[OP]
Newbie
Apr 22, 2016
37 posts
4 upvotes

Minimum salary to live in Toronto

Hi,
I'm wondering how much should I make to live in Toronto considering the cost of living in Toronto.
Currently I am making around $900 per week after taxes and deductions, but my friend told me that it is not enough.So I am very curious to hear your opinions.
30 replies
Deal Expert
Aug 22, 2011
35631 posts
21691 upvotes
Center of Universe
Renting or buying a home?
Deal Expert
Aug 22, 2011
35631 posts
21691 upvotes
Center of Universe
At $3600 take home every month, without all the expenses of owning your own home...more than enough.
Deal Addict
Feb 24, 2008
3022 posts
1614 upvotes
Mississauga
depends on what you're looking for
you should probably be able to rent a 1 bedroom condo/apt
Deal Guru
User avatar
Mar 23, 2008
12235 posts
8644 upvotes
Edmonton
How is that possible for anyone else to answer? Some people are happy living in a basement suite or bachelor suite, other people want more/better space. Some people feel they need a car, others are happy riding a bike to work. etc, etc, etc...

If you've got enough money to cover your expenses and are happy, then it's good. If not, then you're not making enough.

C
[OP]
Newbie
Apr 22, 2016
37 posts
4 upvotes
Kmine2123 wrote: Hi,
I'm wondering how much should I make to live in Toronto considering the cost of living in Toronto.
Currently I am making around $900 per week after taxes and deductions, but my friend told me that it is not enough.So I am very curious to hear your opinions.
Sorry I should have been more specific. For person renting a one bed room apt., using public transportation, and have some spare money for savings, not considering misc expenses.
Deal Fanatic
User avatar
Jan 31, 2006
7164 posts
1823 upvotes
Toronto
Kmine2123 wrote: Sorry I should have been more specific. For person renting a one bed room apt., using public transportation, and have some spare money for savings, not considering misc expenses.
Well if that is the case $3600 is enough but I think you are renting a high end apartment that why you mention 'some spare money'
Banned
Feb 19, 2013
289 posts
534 upvotes
Toronto
3600$ is more than enough.

I live downtown Toronto and i think 2000-2500$ is enough for a month unless you have some big monthly expenses. This further reduces in case you share your rent with someone.

A decent rental apartment `1500$.
Food and Grocery etc. should not cost more than 500-700$.
TTC 142$.

Rental Apartments are cheaper in case you live a little far from the entertainment district.
Deal Addict
User avatar
Dec 27, 2011
3512 posts
1779 upvotes
Waterloo
$900 per week after taxes and deductions is an annual income of what...60k?

Come on...
Deal Fanatic
Dec 6, 2006
5156 posts
1481 upvotes
Toronto
crystallight wrote: $900 per week after taxes and deductions is an annual income of what...60k?

Come on...
Def over 60k.

OP's friends must be big spenders to even remotely think that salary isn't enough to live at minimum.
Deal Addict
User avatar
Aug 16, 2009
1492 posts
361 upvotes
CNeufeld wrote: How is that possible for anyone else to answer? Some people are happy living in a basement suite or bachelor suite, other people want more/better space. Some people feel they need a car, others are happy riding a bike to work. etc, etc, etc...

If you've got enough money to cover your expenses and are happy, then it's good. If not, then you're not making enough.

C
+1, we can't really tell you (OP) if its good or bad since you haven't given us much details about what your lifestyle.

Remember, this is RFD, everyone is +100k annually and drive beige corolla's so we are fine.
Deal Guru
User avatar
Mar 9, 2007
13906 posts
9001 upvotes
Think of the Childre…
Op, you'll be fine! Don't worry, be happy!

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Deal Addict
Jul 29, 2004
2866 posts
367 upvotes
Rent - $1600
Power - $55
Food - $200
TV/Internet - $115 (just internet alone is expensive anyway, get a promo deal)
Toiletries - $35

So, about $2000 a month in expenses and that's being reasonable, assuming food also includes you going out at least a couple of times.

You should have more than enough money.

Just be careful where you rent, a lot of Kijiji listings are owners who are stupid and don't know how to rent or what their property is worth so they post inflated prices because they took huge mortgages, and as a result their units sit empty. Well priced units go much more quickly.
Deal Addict
Nov 8, 2013
1226 posts
229 upvotes
Mecca
Tbh, you should be pulling in double that to survive! Find a better job OP! Good luck.
Deal Addict
User avatar
Apr 22, 2005
1380 posts
307 upvotes
35 - 40k for a single person. You won't be balling but it will pay the rent for a decent apartment, food, some outings and small savings.
Deal Expert
Jun 30, 2006
18889 posts
6915 upvotes
Toronto
It really depends on the individual. If you go out every night, eat out every night, go on vacation a few times a year and spend crazy money on clothes and other items, you are screwed.
Sr. Member
Oct 9, 2011
610 posts
312 upvotes
EAST YORK
You need to be making at least 120k to be even considered average
Deal Expert
User avatar
Oct 26, 2003
35138 posts
4310 upvotes
Winnipeg
rfd member making 150k posted that he got low balled, so yeah, op is living in poverty.

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