How Much Do You Need to Live Comfortably in Canada?

A recent study by MoneySense looked at the cost of living in 79 Canadian cities, factoring in rent, food, transportation, utilities, taxes, savings, and a buffer for unexpected expenses. The result? A “comfortable income” varies widely depending on where you live. 

For newcomers, this is especially important. Many arrive earning minimum wage or close to it while getting established. Knowing how much it actually takes to live comfortably in each city can help set realistic expectations.  

In this article, we’ll break down the annual salary needed for a comfortable living across Canada, and compare that to wage expectations, so you can plan accordingly. 

Key Takeaways for Newcomers 

• Comfortable incomes are much higher than minimum wage. In most cities, you need to make at least twice the provincial minimum wage to live comfortably. 
• Quebec offers the best affordability.
• Big cities = big budgets. Toronto, Vancouver, and surrounding suburbs demand six-figure incomes. 

A Note About The Numbers 

To calculate what it takes to live comfortably in each city, MoneySense started with a cost-of-living tool from CareerBeacon. This tool estimates the average monthly expenses for a single renter in cities with populations over 50,000, covering essentials like rent, food, transportation, utilities, clothing, and leisure. 

From there, the researchers factored in other elements to reflect real financial needs, including: 

• 20–25% for taxes and payroll deductions like EI and CPP,  
• 10–15% for savings,  
• 10–20% as a comfort buffer for unexpected costs. 

Adding all of this together, they found that the comfortable income target worked out to be about double the basic cost of living. 

For example, if basic monthly expenses in a city were $3,500, the comfortable income would be around $7,000 a month, or $84,000 a year. 

While these figures are based on a single person, actual income needs will vary depending on household size, lifestyle choices, and financial goals. 

• 20–25% for taxes and payroll deductions like EI and CPP,  

• 10–15% for savings,  

• 10–20% as a comfort buffer for unexpected costs. 

Adding all of this together, they found that the comfortable income target worked out to be about double the basic cost of living. 

For example, if basic monthly expenses in a city were $3,500, the comfortable income would be around $7,000 a month, or $84,000 a year. 

While these figures are based on a single person, actual income needs will vary depending on household size, lifestyle choices, and financial goals. 

The Annual Salary Needed- Broken Down Per Province 

British Columbia (BC) 

It’s no secret that BC has some of the priciest cities in Canada. What might surprise you, though, is that Vancouver doesn’t take the top spot when it comes to how much you need to earn, but some of its neighbouring suburbs do. 

Here’s the annual salary you need to live a comfortable life in these BC cities: 

Most expensive BC cities: 

• Coquitlam — $104,928 
• North Vancouver — $103,512 
• Vancouver — $102,576 
• Burnaby — $102,312 
• Victoria — $96,072 

Most affordable BC cities: 

• Prince George — $80,664 
• Chilliwack — $81,648 
• Abbotsford — $84,528 

Cities like Surrey, Kamloops, and Kelowna fall in the middle, with comfortable incomes ranging from $88,000 to $95,000. 

Prairies (Alberta, Saskatchewan, Manitoba) 

The Prairies offer some of the best value in Canada, with comfortable incomes starting well below BC and Ontario levels. 

Here’s the annual salary you need to live a comfortable life in the Prairies: 

• Airdrie, AB — $91,464 
• Calgary, AB — $87,984 
• Edmonton, AB — $79,080 
• Saskatoon, SK — $78,864 
• Regina, SK — $75,384 
• Winnipeg, MB — $79,272 
• Medicine Hat, AB — $70,416 (third-cheapest city in Canada!) 

Ontario 

Ontario is home to both Canada’s most expensive cities and some of its more affordable spots. 

Here’s the annual salary you need to live a comfortable life in Ontario: 

Most expensive Ontario cities: 

• Richmond Hill — $106,536 (highest in Canada)
• Milton — $106,392
• Whitby — $105,624  
• Mississauga — $99,816 
• Toronto — $98,880 

Most affordable Ontario cities: 

• Sault Ste. Marie — $72,744 
• Sarnia — $74,208 
• Brantford — $80,064 
• Sudbury — $81,480
• Newmarket — $82,224 

Quebec

Quebec is Canada’s most affordable province — with two of the cheapest cities nationwide. 

Here’s the annual salary you need to live a comfortable life in Quebec: 

• Brossard — $91,776 
• Laval — $81,984 
• Montreal — $78,624 
• Quebec City — $72,816 
• Sherbrooke — $64,920 
• Trois-Rivières — $57,936 (cheapest in Canada!) 

Atlantic Canada (NS, NB, NL)

Atlantic Canada offers lower costs of living, but incomes still need to be well above minimum wage. 

Here’s the annual salary you need to live a comfortable life on the East Coast: 

• Halifax, NS — $88,704 
• Saint John, NB — $78,072 
• Moncton, NB — $73,392 
• Fredericton, NB — $71,784 
• St. John’s, NL — $74,856 

Cities with the Highest and Lowest Required Income

The cities requiring the highest incomes to feel financially comfortable are: 

• Richmond Hill, ON – $106,536 
• Milton, ON – $106,392 
• Whitby, ON – $105,624 
• Coquitlam, BC – $104,928 
• North Vancouver, BC – $103,512 

The easiest cities in which to hit a comfortable income are: 

• Trois-Rivières, QC – $57,936 
• Sherbrooke, QC – $64,920 
• Medicine Hat, AB – $70,416 
• Fredericton, NB – $71,784 
• Sault Ste. Marie, ON – $72,744 

A full list of cities and the annual income required can be found here:

What Newcomers Earn vs A Comfortable Living. Provincial Breakdown

For many newcomers, the first year in Canada often means earning minimum wage or close to it while getting settled. Minimum wages vary by province, ranging from about $31,000 to $37,128 a year for full-time work. 

Statistics Canada data shows that the median entry wage for newcomers — the income earned one year after arriving was $42,900 in 2022, the most recent year available. That’s a step up from minimum wage, but still far below what MoneySense says is needed for a truly comfortable life in most Canadian cities. 

Here’s how the gap plays out across each province: 

British Columbia (BC) 

Minimum wage here is $17.85/hr (~$37,128/year). But even in affordable cities like Prince George or Chilliwack, you’d need at least $80,000/year to be comfortable. In Vancouver, North Vancouver, or Coquitlam, the bar jumps above $100,000, nearly three times minimum wage. 

The Prairies (AB, SK, MB)

With minimum wages between $15 and $16/hr (~$31–33K/year), the Prairies look cheaper, but the gap is still big. Medicine Hat needs $70,416/year for comfort, while Calgary and Saskatoon push well above $78,000 — at least twice minimum wage. 

Ontario

Effective October 1, 2025 Ontario’s minimum wage will be  $17.60/hr (~$36,608/year), but it doesn’t come close to a comfortable living in the Greater Toronto Area. Cities like Richmond Hill, Milton, and Whitby all need over $105,000/year for comfort — nearly triple minimum wage. Even in more affordable cities like Sault Ste. Marie or Sarnia, you’d still need at least double. 

Quebec 

Quebec is the most affordable province overall. Trois-Rivières, Canada’s cheapest city, needs just $57,936/year, while Sherbrooke comes in at $64,920/year. But with minimum wage at $16.10/hr (~$33,488/year), even these cities require nearly double minimum wage to feel financially secure. 

Atlantic Canada (NS, NB, NL) 

Minimum wages range from $15.65 to $17/hr (~$32–35K/year). Costs are lower here, but Halifax still needs $88,704/year for comfort, while even smaller centres like Fredericton or Moncton require over $70,000 — at least twice minimum wage. 

What Newcomers Can Do with This Information 

If you’re deciding where to move in Canada, this information is key. 

With this data in hand, newcomers can use tools like Canada’s wage reports to check typical salaries for their occupation in different regions. By comparing those salaries to the “comfortable income” figures, it becomes much easier to see whether a job offer or expected wage in a certain city will actually support the kind of life you want to build in Canada. 

It’s also worth noting that this data covers only cities with populations over 50,000. If the salaries in larger urban centres don’t line up with your comfortable life goals, it might be worth exploring smaller towns and rural communities, where costs can be significantly lower.