Cost of living in Canada | Your handy guide

A pool of opportunities for international students

Canada is one of the most popular international student destinations worldwide. The country provides numerous opportunities for personal and professional development. The good news for those who want to study in Canada is that living expenses for international students in Canada are generally lower than in other countries (the UK, Australia, and the USA). Studying in Canada is a worthwhile investment for students’ futures because they will gain access to the premier education and a globally recognized degree. Let’s find out more about the cost of living in Canada and the top factors to consider.

Cost of accommodation

It will be easy for you to find on-campus housing as an international student at Canadian universities. The vast majority of first-year students would prefer to live on campus. As most students need to share their rooms with a common dining area, a laundry room, and recreational facilities, you must consider whether on-campus housing meets your needs.

The most critical thing to consider before moving into on-campus housing is the rent you will have to pay. On-campus housing costs range between CAD 8,000 and CAD 10,000 per year on average in Canada. Off-campus housing could be prohibitively expensive. Sharing accommodations, on the other hand, will be less expensive. You will need at least CAD 400 per month to live in Canada.

Type of accommodation	Average cost (CAD)
Unfurnished apartment rentals	$300 to $500 (monthly)
Shared accommodation off-campus	$400 to $700 (monthly)
1 BHK outside of City Center	$1,123 (monthly)
1 BHK in City Center	$1,332 (monthly)
On-campus	$8,000 $10,000 (annually)

Cost of food

Food is never a problem in Canada. Indian, American, Continental, Italian, and Chinese cuisines are available in every town. However, food in Canada can be a little on the pricey side.

The average monthly cost for food and other expenses in Canada can range between CAD 200 and CAD 600. A restaurant breakfast, lunch, or dinner may cost between CAD 10 and CAD 15 per person.

Food	Average cost in CAD
Meal for one	CAD 18
Rice (white, 1 kg)	CAD 3.71
Eggs (1 dozen)	CAD 3.54
Bread (500 gms)	CAD 2.94
Onion (1 kg)	CAD 2.66
Milk (1 L)	CAD 2.47
Coke/Pepsi (0.33 L)	CAD 2.30
Water (0.33 L)	CAD 1.85
Banana (1 kg)	CAD 1.72

Cost of public transportation

The public transportation system in Canada is well-connected, efficient, and secure. International students can save money on their monthly expenses in Canada by taking advantage of public transportation. Aside from that, depending on where you live, cycling or walking to college is an excellent option. 

In Canada, buses, trains, subways, and light-rail trains are all standard modes of public transportation. You can get student discounts on these public transportation options by showing your student I-Card. It is a great way to cut your monthly living expenses in Canada.

The following is an estimate of transportation costs to help international students plan their monthly expenses in Canada-

Factors	Average cost per month
Busses	100 CAD-150 CAD
Subway	65 CAD-99 CAD (monthly pass)
Taxis (one km)	40 CAD-50 CAD

Health insurance in Canada

It will be mandatory for you to have health insurance, but the coverage will vary depending on the province in which you choose to study. For example, if you choose to study in Quebec, Manitoba, British Columbia, Alberta, Saskatchewan, Labrador, or Newfoundland, the provincial government’s health plans will cover you. The coverage will be according to your length of stay. In any other province, you must obtain private health insurance.

Canada’s opportunities and quality of life make every dollar you spend worthwhile. So, don’t worry; you can manage this cost-effectively if you take the right approach. You can always work part time while attending classes. It will not only help you gain control of your finances, but it will also improve your personality.

Name of plan	Approximate costs in CAD
iMED	225 CAD for three months
AMS/GSS Health and Dental Plan	176.42 CAD for eight months
BC MSP Program	74 CAD for one month

The average annual premium for obtaining health insurance ranges between $500 and $700, according to the Canada Insurance Plan. Manulife Financial, Alliance Global, Sun Life, Green Shield, and other well-known insurance companies that cater to international students. Insurance is an unavoidable component of the cost of studying in Canada.

Money-saving tips for international students

Here are some tips that students can try during their stay in Canada.

Scholarships

In Canada, there are approximately 800 scholarships available to international students. The scholarships provide a stipend and tuition, housing, travel expenses, and health insurance. Students can reduce their cost of living in Canada if they obtain a scholarship to fund and support their studies and stay in Canada.

Student cards

Canada is a country that values and cares about its student population. The nation has provisioned daily discounts for students to reduce the cost of living in Canada for international students. To do so, present your I-card or student card at the time of purchase or payment. These savings are available in department stores, bookstores, restaurants, and using public transportation.

Part-time jobs

Part-time jobs in Canada are one of the best ways for students to reduce their monthly living expenses in Canada. The student visa allows you to work various on-campus part-time jobs. You may also apply for an off-campus employment permit after six months of study in Canada. A Canadian student visa allows international students to work 20 hours per week in part-time jobs in Canada.

What are the average salaries in Canada?

Aside from the cost of living, the other major financial consideration is how much you’ll earn. Your salary may vary greatly depending on where you choose to live in Canada, as employers compensate for the cost of their city. If you don’t intend to stay in your current job, the tables below will give you an idea of what kind of salary you can expect in your industry in Toronto or Montreal.

Job roles in Toronto	Average salary
Product manager	CAD 69,402
Software engineer	CAD 57,673
Mobile developer	CAD 53,257
Financial analyst	CAD 52,067
Web developer	CAD 43,663
Teacher	CAD 40,439
Graphic designer	CAD 37,966
Copywriter	CAD 35,130
Receptionist	CAD 23,763
Cashier	CAD 21,101

Job roles in Montreal	Average salary
Product manager	C$59,398
Mobile developer	CAD 57,956
Software engineer	CAD 52,127
Financial analyst	CAD 42,722
Web developer	CAD 42,015
Teacher	CAD 37,889
Graphic designer	CAD 33,831
Copywriter	CAD 33,534
Receptionist	CAD 22,486
Cashier	CAD 16,273

Key takeaways

• On-campus housing costs in Canada average between CAD 8,000 and CAD 10,000 per year.
• In Canada, the average monthly cost for food and other expenses can range between CAD 200 and CAD 600.
• Buses, trains, subways, and light-rail trains are all common modes of public transportation in Canada. By displaying your student I-Card, you can get student discounts on these public transportation options.
• If you choose to study in Quebec, Manitoba, British Columbia, Alberta, Saskatchewan, Labrador, or Newfoundland, you will have coverage by the provincial government’s health plans.
• There are approximately 800 scholarships available to international students in Canada.

Did you find this blog helpful? Do share your views and perspectives in the comments below. Please contact us for more information on the cost of living in Canada by clicking here. We would be happy to assist you with your queries.

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FAQs

Q1. What are the most affordable cities in Canada for students?

Answer- Although the cost of living in Canada for students in major cities is high, cities such as Quebec, Ontario, Alberta, and others are significantly less expensive while providing a pleasant experience of staying and studying.

Q2. How much do students get paid per hour in Canada?

Answer- In Canada, a student typically earns between CAD 10 and CAD 15 per hour; however, this can vary depending on the city and job.

Q3. What are the average monthly expenses of a single person in Canada?

Answer- The cost of living in Canada varies from city to city. However, one can estimate the national average cost of living for one person to be $2,730.