Rent decides the “winner” in cost of living battle between Vancouver and Toronto

Vancouver is generally more expensive to live in than Toronto, primarily due to higher rent prices, which are 14.5% greater in Vancouver. To maintain a similar standard of living, one would need about $9,372.40 in Vancouver compared to $8,800 in Toronto. While rent is pricier in Vancouver, dining out is more costly in Toronto. Grocery prices vary, with some items being more expensive in Vancouver. Transit costs are lower in Vancouver, but utilities and gym memberships are pricier in Toronto. Average salaries are higher in Toronto, providing more financial flexibility.