What A $100,000 Salary Looks Like Across Canada: Here’s How Far Your Salary Really Goes

In this article, we show you how far your $100,000 salary will go across some of Canada’s major cities and the hidden gems.

Key Takeaways

• A $100,000 salary is still above Canada’s average individual and household salaries, so it’s a good income. But it doesn’t necessarily mean you can afford anything and everything you want in Canada.
• Canada’s smaller cities, outside of the big three (Toronto, Vancouver, Montreal) often offer a lower cost of living.
• There are other convenient ways to make the most of your money, outside of living in a smaller city. For example, newcomer banking programs, like Scotiabank’s StartRight™ Program, can provide added value for newcomers to Canada.

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Is a $100k salary good in Canada?

$100,000 is still a higher-than-average salary in Canada, so it is good. But where you live in Canada makes a significant difference when it comes to how far your $100,000 salary goes. This is largely because of the potentially high cost of accommodation and living across some parts of the country.

The fact that a $100,000 salary will afford you a different quality of life in different areas across Canada is something you’ll want to consider as you start your life in Canada.

Regardless of what your salary is in your first years in Canada as a newcomer, taking advantage of newcomer banking programs is a great way to add value. You can simplify your banking with Scotiabank’s StartRight™ Program‡ and get up to $2,200¹ in value as a newcomer.

How does $100k compare to the average salary in Canada?

The average salary in Canada, based on the StatsCan Labour Force data for April 2025, is $67,466.88. This means that a $100,000 salary is a higher-than-average salary, by around 32.5%.

$100,000 Salary Comparison Across Canada’s Major Cities

Before we dig into our city-by-city comparison, we want to share our sources and outline our assumptions.

• We used the TurboTax calculator for the year 2024-2025 to calculate the take-home pay for a $100,000 salary. This is a simplistic view on take home pay that doesn’t take deductions, the 2025 tax rate, or other factors into consideration, so your taxes may vary depending on your individual circumstances. – We used Numbeo to estimate costs of living for each city. Costs can vary widely depending on locations within the city and your personal preferences, so the amounts are illustrative and estimates only. You may wish to use more localized and personalized data when deciding where to live.
• Average rents are from the Rentals.ca monthly rent report for May 2025.

Your $100k Salary in Toronto, Ontario

TurboTax’s calculator shows an annual take-home pay of $74,864 for someone in the province earning a $100k salary. This translates to $6,155.33 monthly, which is a livable wage in Toronto, but your quality of life is likely to depend on your accommodation costs.

A one-bedroom apartment in Toronto can cost an average of $2,300, while a two-bedroom apartment is closer to $3,000 (on average). At this rate, your accommodation costs will eat up 36.5% to almost 50% of your income, which doesn’t leave a lot left over.

Estimated monthly costs outside of rent, including transit, food, and entertainment, per month in Toronto are $1,524.20 for an individual and $5,575.50 for a family of four. So, a single person in Toronto living in a one-bedroom apartment may have money left at the end of each month with a $100k salary. On the other hand, money may be quite tight for a family of four living in a two-bedroom apartment in Toronto on one $100,000 salary. At this wage, the family may have to consider living further outside of the city to reduce housing expenses, foregoing car ownership, or reducing expenses wherever they can, using household budgeting.

Learn more about budgeting for your household and check out Scotia Smart Money and find out how Scotiabank clients can get access to money management features that make keeping track of your money easier. Clients can get personalized insights about their money, track spending, understand cashflow, and build their balance with smart savings tools.

Is a $100,000 Salary Good in Vancouver?

TurboTax’s 2024/2025 tax calculator shows an annual take home pay of $75,241 for someone in British Columbia earning $100k salary. This averages $6270 per month. But Vancouver has the most expensive average rent costs in Canada (in May 2025), so how far will that $100k salary go?

In Vancouver, the average 2-bedroom home is $3,358 to rent each month, while a one bed home is $2,544. While rent is higher than Toronto, on average, the monthly living costs for individuals and families of four are lower – at $1,480 and $5,433 respectively.

However, costs in Vancouver are still high enough that it can be challenging to support a family of four on a single income – even if you’re earning $100k.

Is a $100k salary good in Montreal?

Federal and provincial taxes are a little higher in Montreal for the $100k tax bracket than in Vancouver and Toronto (assuming no other deductions), so annual take home pay after taxes is around $69,232. This means the $100k earner would receive around $5,769 each month.

While taxes are higher, rental costs are lower than Canada’s two other large cities – at $2,255 for a 2 bed and $1,727 for a one-bedroom home. This leaves at least $3,514 (for those renting a two-bedroom home) for living costs each month.

Numbeo estimates those living costs to be around $1,375 for an individual, or $5,074 for a family of four.

Calgary on a $100k salary

After taxes in Alberta, take home pay in Calgary could be around $73,550 annually or $6,129 monthly. This is a little higher than Montreal, and a little lower than Toronto and Vancouver.

But where Calgary shines compared to Canada’s big three cities is rental costs. This is the first city we’ve seen a two-bedroom home for less than $2,000 each month, on average.

Calgary’s 2-bedroom homes cost around $1,944 each month, while a one-bedroom property is $1,591.

In terms of the average cost of living, Numbeo estimates that a family of four will spend $5,646 each month, and an individual will spend $1,590.

Is a $100k salary good in Regina, Canada?

In Regina, a person earning a $100k salary would likely take home around $71,886 annually, or $5,990 each month. Since the average 2-bedroom home costs $1,575 each month, or $1,262 for a one-bedroom home, a person earning $100k annually would have around $4,415-$4,728 left over each month after paying rent. This is much higher than those living in Canada’s larger cities, and even Calgary.

The average costs for a family of four in Regina are around $5,202 each month, and $1,451 for an individual. On a single income of $100,000, it would still be wise to budget closely in Regina for a family of four. But for an individual, a salary of $100k would allow for some savings, as well as a good amount of discretionary spending each month.

Winnipeg on a $100k salary

On a $100,000 salary in Manitoba, take home pay is likely around $71,289 annually or $5,940 per month. Again, average rents for a two-bedroom ($1,762) and one-bedroom ($1,443) are lower than what you would see in Canada’s three most populous cities – so your $100k salary will stretch further in Winnipeg than it would in Toronto, Vancouver or Montreal. Numbeo estimates living costs to be similar to the costs in Regina — $5,188 for a family of four, each month and $1,447 for an individual.

Make The Most of Your Money with Scotiabank

So, is a $100,000 salary good in Canada? In short, yes – it’s still above Canada’s average individual and household salary, so there’s no doubt it’s a good income. But earning $100k annually does not mean that you’ll be able to comfortably afford everything you want in Canada. You will likely still want to use a budget and a financial plan.

A Scotiabank Advisor can help you manage your money today to build a better tomorrow. You’ll get advice you can understand from a knowledgeable financial advisor. You can get help with everything from financial planning for you and your family to budgeting to managing debt to buying a home in Canada.

Book your obligation-free conversation with a Scotiabank advisor