Getting a clear picture of the cost of living can help you budget for the year. Estimated costs of living in Toronto, Mississauga and Scarborough for 2019-20 are provided below. 

Use this handy U of T Financial Planning Calculator to plan ahead.

The calculator will show you how much money you will need to cover tuition and fees, housing costs, food and everything else for the upcoming academic year. You'll provide some background and income information, and we'll show you a budget summary and direct you to some useful resources to help you save money.

Estimated living and studying costs for the academic year (8 months)

Food: $1604 - $3700

Clothing: $900 - $1100

Local Transportation: $934 ($116.75 per month)

Books, supplies and instruments: $1000 - $2000+

Miscellaneous: $1000 - $2000

Housing Costs

CMHC Rental Market Report (Toronto/GTA Average)

Room: N/A

Bachelor: $1,080 - $1,520

1-bedroom apartment: $1,261 - $1,910

2-bedroom apartment: $1,467 - $2,393

3+ bedroom apartment: $1,633 - $2,982

 

*Near St. George

Room: $1,011

Bachelor: $1,224

1-bedroom apartment: $1,333

2-bedroom apartment: $2,223

3+ bedroom apartment: $3,027

 

*Near UTM

Room: $526

Bachelor: $1,053

1-bedroom apartment: $1,250

2-bedroom apartment: $1,495

3+ bedroom apartment: $2,004

 

*Near UTSC

Room: $753

Bachelor: $1,015

1-bedroom apartment: $1,250

2-bedroom apartment: $1,413

3+ bedroom apartment: $2,821

 

Sources:

  • CMHC Rental Market Report – Fall 2018
  • *U of T Off-Campus Housing Service Averages - Fall 2018