Canada continues to rank among the world’s top destinations for quality of life, healthcare, and education. But for those thinking of making the move or starting fresh here, there’s one question everyone’s asking what’s the real cost of living in Canada in 2025?
Let’s break it down with numbers, jobs, housing, banking, and benefits — and show you why thousands still think Canada is worth every dollar.
Housing and Rent: Still Manageable, City to City
In 2025, monthly rent across Canada depends greatly on where you settle.
- Toronto or Vancouver: Expect to pay between CAD 2,200 to 2,800 for a one-bedroom.
- Halifax or Calgary: You can still find units for around CAD 1,400 to 1,800.
- Smaller towns like Moncton or Regina: Rent ranges between CAD 900 to 1,300.
Buying a home? Average prices in Ontario hover around CAD 900,000 while Nova Scotia stays closer to CAD 400,000.
If you’re planning long-term, consider provinces offering affordable living and rising opportunities like Saskatchewan and Manitoba.
Job Market: Plenty of Opportunities If You Plan It Right
Canada’s job market in 2025 is leaning into growth sectors. Immigrants with tech, health, construction, or green energy experience are in demand. The average monthly salary ranges between CAD 3,000 to 6,000 depending on your industry and experience.
Popular government-backed job boards include:
- Job Bank Canada
- Canada Summer Jobs (for youth)
- Public Service Commission of Canada
The Government of Canada is also actively hiring in remote and hybrid roles across departments.
Banking, Interest Rates & Savings
Most newcomers open accounts with the big five banks: RBC, TD, Scotiabank, BMO, and CIBC.
- Savings Interest Rates (2025): Range between 1.5% to 3.2% for high-interest accounts.
- Credit card interest rates are high — 19.99% or more, so building credit carefully is essential.
- Average monthly expenses (excluding rent): CAD 1,200–1,800 per individual.
Tip: Newcomers often get access to special no-fee banking packages for 1–2 years.
Government Support & Scholarships
For Students
Canada offers scholarships through federal programs and universities. Students can apply for:
- Canada Graduate Scholarships
- International Entrance Awards (York, UBC, and McGill)
- Study-in-Canada Scholarships Program
Monthly budgeting for students:
Tuition: CAD 15,000–30,000/year
Living expenses: CAD 10,000–14,000/year
For Startups
Startup founders can benefit from:
- Startup Visa Program
- Grants from IRAP (Industrial Research Assistance Program)
- BDC (Business Development Canada) Loans
- Innovative Solutions Canada Program
If you’re planning a startup in clean tech, health tech, or AI, Canada has fertile ground and government support to scale.
How Much Should You Save Before Moving?
Ideally, bring at least CAD 15,000–20,000 per person if you’re coming to settle long term. This will help with your first few months of:
- Rent deposits
- Groceries and transportation
- Healthcare (before insurance coverage begins)
- Phone and internet setup
International students should also account for tuition deposits and proof of funds (usually CAD 20,635 for 2025 per person as per IRCC).
Is It All Worth It?
Absolutely. Whether you’re chasing academic dreams, a safer environment for your family, or launching a new business, Canada offers stability, long-term security, and a government that supports growth.
If you plan right and understand the real cost of living in Canada in 2025, it’s not just affordable it’s smart.
Read more about why people are choosing Canada for a better future in 2025:
👉 Why People Choose Canada for a Better Future – 2025
