The three most and least expensive major cities in Canada by cost of basic needs heading into 2024

According to Market Basket Measure (MBM) information launched by Statistics Canada in late Novemberthe expense of standard requirements amongst all examined significant cities throughout Canada is greatest in Calgary (Alberta) and least expensive in Montreal (Quebec).

As specified * by Statistics Canada (StatsCan), MBM information “is based upon the expense of a particular basket of items and services representing a modest, fundamental requirement of living for a recommendation household.”

For the provinces, Yukon and the Northwest Territories, the MBM recommendation household includes “2 grownups with 2 kids. [However]for Nunavut, the MBM recommendation household includes 2 grownups with 3 kids.”

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Please keep in mind that while the StatsCan information, released based upon 2022 figures, likewise consists of MBM information for areas in each province based upon particular population limits– “under 30,000” or “30,000 to 99,999”– this short article will just concentrate on significant provincial cities determined by name within the dataset.

Where is the expense of standard requirements the greatest throughout Canada?

According to this step, standard requirements cost one of the most in:

Calgary, Alberta: The overall MBM limit in this city is $55,771 *

Vancouver, British Columbia: The overall MBM limit in this city is $55,727

Toronto, Ontario: The overall MBM limit in this city is $55,262

* According to a CTV News story from last month, Calgary’s MBM has actually increased by nearly $4,000 from the year prior

Where is the expense of fundamental requirements the most affordable throughout Canada?

According to this step, standard requirements cost the least in:

Montreal, Quebec: The overall MBM limit in this city is $46,027

Brandon, Manitoba: The overall MBM limit in this city is $46,779

Saint John, New Brunswick: The overall MBM limit in this city is $48,468

The expense of fundamental requirements in other significant cities throughout Canada

The following will continue to detail the expense of standard requirements in Canada, focusing particularly on one significant city in each province and area not currently covered in the short article so far.

St. John’s, Newfoundland and Labrador: $50,931

Charlottetown, Prince Edward Island: $51,033

Regina, Saskatchewan: $51,101

Halifax, Nova Scotia: $52,439

Whitehorse, Yukon: $59,124

Yellowknife, Northwest Territories: $66,991

Iqaluit, Nunavut: $118,787

The expense of living in Canada

Another report from November 2023 by rentals.ca displays that a lot of the very same cities appear in a matching position with regard to where rental real estate is most expensive throughout the nation.

Rental real estate is a crucial factor to consider for numerous current immigrants to Canada, along with beginners normally, making this a leading concern for a lot of this nation’s most recent residents.

According to the Rent Report, Vancouver is Canada’s most costly city to lease both a one-bedroom ($2,872) and two-bedroom ($3,777) home.

Toronto was offered the title of Canada’s 3rd most costly city for residential or commercial property leasings, with a one-bedroom costing approximately $2,607 while a two-bedroom was $3,424.

On the more economical side, one city (Winnipeg) in the very same province as Canada’s second-least pricey city for fundamental requirements (Brandon, Manitoba) appeared in the leading 5 least expensive cities to lease a one or two-bedroom home. According to the November Rent Report, lease for a one-bedroom house in Winnipeg was $1,282 while lease for a two-bedroom was $1,692.

Learn more about the most and least costly cities for tenants in Canada here.

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