As an international student preparing to live in Toronto in 2025, having a clear picture of your expected expenses is key to a smooth and enjoyable experience. This guide breaks down the major costs you'll face, offering practical insights to help you plan your finances wisely and avoid unexpected financial stress.
Accommodation Expenses in Toronto
Finding a place to live will likely be your biggest monthly expense. The cost varies widely depending on location, type of housing, and whether you choose to live alone or with roommates.
A one-bedroom apartment in the city center or near a university can range from $1,200 to $2,000 per month. If you opt for a place farther from the core or in the suburbs, you might find prices starting around $1,000, but remember to factor in longer commute times and additional transportation costs.
Many students choose shared housing to save money. Renting a room in a shared apartment or house can cost between $700 and $1,200 per month, which often includes utilities like water and heating. University residence halls are another option, typically costing $800 to $1,500 per month for a room with a meal plan. These can be a great way to meet people and be close to campus, but they often have limited space and require early application.
When budgeting for accommodation, don't forget initial costs like a security deposit (usually one month's rent), last month's rent upfront, and possible fees for a real estate agent if you use one.
Food and Grocery Costs
Managing your food budget is an area where you have a lot of control. Your monthly grocery bill can average between $300 and $500, depending on your eating habits, dietary preferences, and where you shop.
Cooking at home is the most budget-friendly approach. Discount grocery stores like No Frills, Food Basics, and Walmart generally offer lower prices. Shopping at farmers' markets can be a good source for fresh, local produce, especially when items are in season. Buying in bulk for non-perishable items and planning your meals for the week can also help reduce waste and save money.
If you eat out regularly, your expenses will increase significantly. A casual meal at a restaurant can cost $15 to $25, while a fast-food combo is around $10 to $15. Buying coffee daily can add up to $50 or more to your monthly budget. To keep costs down, limit eating out to a few times a month and take advantage of student discounts many cafes and restaurants offer.
Transportation and Getting Around
Toronto has an extensive public transportation system called the TTC (Toronto Transit Commission), which includes subways, streetcars, and buses. A monthly transit pass for unlimited travel costs approximately $150. This is often the most economical choice for students who commute regularly.
Many students also walk or cycle, especially if they live near campus. Toronto is becoming increasingly bike-friendly, with dedicated lanes and bike-sharing programs. A yearly membership for Bike Share Toronto costs around $100, providing a cheap and healthy way to get around for short trips.
For occasional trips outside the TTC network or late at night, ride-sharing services like Uber and Lyft are available, but these can become expensive if used frequently. Owning a car in Toronto is generally not recommended for students due to high costs like insurance (which can be over $300 per month for young drivers), parking fees, fuel, and maintenance.
Health Insurance and Medical Care
Health insurance is mandatory for international students in Ontario. You cannot rely on the provincial health plan (OHIP), so you must have private coverage.
Most universities offer a mandatory health insurance plan through the student union, such as the University Health Insurance Plan (UHIP). The annual cost for UHIP is typically between $600 and $800. This plan covers essential medical services like doctor visits, hospital stays, and some diagnostic tests.
It's important to understand what your plan includes and what it doesn't. You might need to purchase additional dental and vision coverage separately, which could add another $200 to $400 per year. Always carry your insurance card with you and know the procedure for seeing a doctor or visiting a clinic to avoid unexpected bills.
Additional Living Expenses
Beyond the main categories, there are other regular costs to include in your budget.
Utilities: If your rent doesn't include utilities, expect to pay around $100 to $150 per month for electricity, heating, and water. Internet and mobile phone plans are also essential. A good internet connection costs $60 to $90 per month, and a mobile plan with data can range from $40 to $70.
Personal and Miscellaneous: This includes costs for toiletries, clothing, and household supplies, which might be $50 to $100 per month. Don't forget to budget for academic expenses like textbooks, which can be surprisingly high—$500 to $1,000 per year. Consider buying used books or digital versions to save money.
Entertainment and Social Life: Allocating funds for leisure is important for your well-being. A movie ticket costs around $15, and a gym membership is $40 to $60 per month. Exploring the city's many free attractions, like parks, museums on free admission nights, and festivals, can help you have fun without spending a lot.
Frequently Asked Questions
What is a realistic total monthly budget for an international student in Toronto?
A realistic total monthly budget, including accommodation, food, transport, and personal expenses, is between $2,000 and $2,800. This can be lower if you share accommodation, cook most meals at home, and use student discounts.
Are there any hidden costs I should know about?
Yes, watch out for initial setup costs like a security deposit for your apartment, connection fees for a phone or internet, and the high cost of textbooks. Also, winter clothing can be a significant one-time expense if you are not from a cold climate.
Can I work part-time to help with my expenses?
Yes, as an international student with a valid study permit, you are usually allowed to work up to 20 hours per week during academic sessions and full-time during scheduled breaks. This can help offset your living costs.
What is the cheapest area to live in Toronto for students?
Areas like Scarborough, North York, or East York often have more affordable rental options compared to the downtown core or neighborhoods immediately surrounding universities like U of T or Ryerson. Sharing an apartment with roommates is the most effective way to reduce housing costs.
