Cost of Living in Calgary Compared to other Canadian Cities (Toronto, Vancouver & Montreal)

Calgary has a lower cost of living compared to most other Canadian cities. These cost savings are distributed among different expenses but the biggest factor is the lower cost of housing and rental prices. This article will compare the cost of living in Calgary versus other top major cities in Canada; Toronto, Vancouver and Montreal.

Cost of Living Comparison - Calgary vs All of Canada
Rent & Real Estate Prices - Calgary vs 10 Major Canadian Cities
Salary - Calgary vs the rest of Canada

Cost Of Living Comparison - Calgary vs Toronto
Breakdown Of Monthly Costs - Calgary vs Toronto
Rent & Real Estate Prices - Calgary vs Toronto
Other Financial Factors - Calgary vs Toronto
Salary - Calgary vs Toronto

Cost Of Living Comparison - Calgary vs Vancouver
Breakdown Of Monthly Costs - Calgary vs Vancouver
Rent & Real Estate Prices - Calgary vs Vancouver
Other Financial Factors - Calgary vs Vancouver
Salary - Calgary vs Vancouver

Cost Of Living Comparison - Calgary vs Montreal
Breakdown Of Monthly Costs - Calgary vs Montreal
Rent & Real Estate Prices - Calgary vs Montreal
Other Financial Factors - Calgary vs Montreal
Salary - Calgary vs Montreal

Summary

Cost of Living Comparison - Calgary vs All of Canada

Living in Calgary is more affordable than many major Canadian cities, but slightly more expensive than the national average. On average, the cost of living in Calgary is 0.63% cheaper than the rest of Canada , largely due to lower housing costs in rural areas pulling down the national figure.

Calgary ranks among the top cities in Canada when it comes to healthcare, culture, environment and stability. When comparing the cost of living in Calgary to the cost of living in 10 major Canadian cities (Toronto, Montreal, Vancouver, Calgary, Edmonton, Ottawa, Quebec, Winnipeg, Mississauga & Victoria), on average the cost of living in Calgary is 0.45% more expensive, making it relatively affordable among large metropolitan areas.

Rental Rates & Real Estate Prices - Calgary vs 10 Major Canadian Cities

The cost of purchasing a home in Canada is generally higher in metropolitan cities versus rural areas. When we compare cities and look at the housing affordability statistics of a composite 10 Canadian cities (Toronto, Montreal, Vancouver, Calgary, Edmonton, Ottawa, Quebec, Winnipeg, Hamilton & Victoria), we see that the average monthly mortgage payment is $4,161. In comparison, the average monthly mortgage payment in Calgary is $3,530, a little over $600 less a month. If you're interested in looking at some new homes and condos in the Calgary area, you can visit the Minto Calgary home page.

Looking at these same 10 Canadian cities, we see that to rent a one bedroom apartment in the city center would cost $1,756 versus just $1,522 in Calgary. If you're interested in looking at some rental options in the Calgary area, visit our Apartments site to see the current vacancies.

In general, the cost of purchasing a home/condo, or renting, in Calgary (compared to other Canadian cities) is quite affordable.

* Non-condo home prices. Data retrieved from the Housing Affordability Monitor

Salary - Calgary vs the rest of Canada

The low cost of living is not the only benefit of living in Calgary; Calgary is known to have high salaries. According to Statistics Canada data from 2022, the average yearly salary is $69,900 in Calgary versus $61,600 in the rest of Canada, 13.47% higher.

*Source: Statistics Canada

Cost Of Living Comparison - Calgary vs Toronto

Toronto is one of the most expensive cities to live in (Canada) and not surprisingly living in Calgary is more affordable than living in Toronto. On average the cost of living in Calgary is 10.3% cheaper than Toronto. According to Numbeo in May 2026, $7,800.70 Calgary would give you the same standard of living as $8,700.00 would in Toronto. Some of the factors contributing to the high cost of living in Toronto, the provincial capital of Ontario, are high housing demand & low housing supply, international appeal and the harmonized sales tax (HST).

Breakdown Of Monthly Costs - Calgary vs Toronto

Although the cost of living including rent in Calgary is 10.4% lower than in Toronto, these savings are not evenly distributed across all expenses, with rent and mortgage costs being the most significant factor. While overall consumer prices (excluding rent) in Calgary are only 4.1% lower than in Toronto, there are differences across categories. For example, restaurant prices are 10.6% lower in Calgary, making dining out more affordable, while grocery prices are actually 3.3% higher in Calgary.

Rental Rates & Real Estate Prices - Calgary vs Toronto

The biggest difference in the cost of living between Calgary & Toronto is in housing and accommodation. Calgary is significantly cheaper in terms of rental rates and real estate prices when compared to Toronto.

If you were to purchase an apartment in the city center, it would cost $622 per sq.ft in Toronto versus $422 per sq.ft in Calgary. This translates to a notable difference in monthly mortgage payments: the average monthly mortgage payment in Toronto is $5,843 versus $3,530 in Calgary. Furthermore, to purchase a home, a down payment of $84,671 can be expected in Toronto versus $41,254 in Calgary.

To rent a one bedroom apartment in the city center, it would cost $2,504 in Toronto versus $1,896 in Calgary, a difference of $608 a month.

Other Financial Factors - Calgary vs Toronto

Personal income tax rates vary by province. In Alberta, the 2026 taxable income for the first $61,200 is 8% and over $61,200 up to $154,259 is 10%. In Ontario, the 2026 taxable income for the first $53,891 is 5.05%, over $53,891 up to $107,785 it is 9.15% and over $107,785 up to $150,000 it is 11.16%. Therefore this is a wash and depending on your income bracket, either province could potentially be a better option in terms of lower income taxes.

Salary - Calgary vs Toronto

The low cost of living is not the only benefit of living in Calgary; Calgarians also benefit from higher salaries. According to Statistics Canada data from 2024, the average yearly salary is $69,900.00 in Calgary versus $64,400.00 in Toronto, 8.54% higher.

Cost Of Living Comparison - Calgary vs Vancouver

Living in Calgary is significantly more affordable than in Vancouver. In order to maintain an equivalent lifestyle, you would need $7,760 per month in Calgary, compared to $9,300.00 in Vancouver. This means on average, people from Calgary spend 16.6% less a month compared to those in Vancouver.

Breakdown Of Monthly Costs - Calgary vs Vancouver

Like Toronto, the comparative costs of living in Calgary versus Vancouver differ across expense categories. Although thecost of living including rent in Calgary is 17% lower than in Vancouver, these savings are not evenly distributed, with housing/rent costs being the most significant factor. In general, purchasing power in Calgary is around 4.4% higher than in Vancouver. Looking at some key categories: we see that restaurant prices are 12.1% lower and grocery prices are 5.8% lower in Calgary when compared to Vancouver.

Rental Rates & Real Estate Prices - Calgary vs Vancouver

The most noticeable disparity between the two cities, when it comes to the cost of living, is housing. Calgary's rental and property prices are notably lower than those in Vancouver.

Purchasing an apartment/condo in Vancouver’s city center would cost $1,206 per sq.ft versus $422 per sq.ft in Calgary. Purchasing a home in Vancouver, you’re looking at $860 per sq.ft versus $474 per sq.ft in Calgary. This results in a significant variation in monthly mortgage installments. The average monthly mortgage payment in Vancouver is $6,511 versus $3,530 in Calgary. The average down payment for a home in Vancouver is $97,212 versus $41,254 in Calgary.

To rent a one bedroom apartment in the city center, it would cost $2,388 in Vancouver versus $1,522 in Calgary, an additional $922 a month.

Other Financial Factors - Calgary vs Vancouver

In Alberta, the 2026 taxable income for the first $61,200 is 8% and over $61,200 up to $154,259 is 10%. In British Columbia, the 2026 taxable income for the first $50,363 is 5.06%, over $50,363 up to $100,728 it is 7.70%, over $100,728 up to $115,648 it is 10.50%, over $115,648 up to $140,430 it is 12.29% and over $140,430 up to $190,405 it is 14.70%. Therefore if you are making more than $100,728, you pay a lower income tax rate in Calgary when compared to Vancouver.

Salary - Calgary vs. Vancouver

Not only is the cost of living in Calgary more affordable, but residents also enjoy better wage rates. According to Statistics Canada data from 2024, the average yearly salary is $69,900.00 in Calgary versus $65,600.00 in Vancouver. This means the average salary in Calgary is 6.55% more than in Vancouver.

Cost Of Living Comparison - Calgary vs Montreal

Living in Calgary is more expensive than living in Montreal. In general, Montreal is more affordable than many other metropolitan cities in Canada. According to Numbeo, you would need around $7,719.40 in Calgary to maintain the same standard of life that you would have with $7,400.00 in Montreal, assuming you are a renter. The cost of living is therefore around 8.8% higher in Calgary than in Montreal.

Notably, Montreal is the second most populous city in Canada, and its official language is French, unlike the other cities compared in this analysis. Montreal is also the only city in this comparison to have an average salary below the national average.

Breakdown Of Monthly Costs - Calgary vs Montreal

The cost of living in Calgary is 17.0% lower than in Montreal when factoring in rent, with housing being a major factor. While the cost of living (excluding rent) in Calgary are 5.5% higher than in Montreal, the difference varies across specific categories. For example, grocery prices are 6.1% higher in Calgary (compared to Montreal), however restaurant prices are 3.6% lower in Calgary.

Rental Rates & Real Estate Prices - Calgary vs Montreal

Yet again Calgary is the winner when looking at price per square foot. Purchasing an apartment/condo in Montreal’s city center would cost $645 per sq.ft versus $422 per sq.ft in Calgary. Purchasing a home in Montreal city center, you’re looking at $523 per sq.ft, versus $474 per sq.ft in Calgary. Looking at mortgage payments we see a slight switch in affordability. The average monthly mortgage payment in Montreal is $3,086 versus $3,530 in Calgary. The average down payment for a home in Montreal is $32,927 versus $41,254 in Calgary.

Notably, Montreal’s average price per m2 is higher than that of Calgary yet we see larger mortgage payments and down payments in Calgary. This is indicative of Calgarians purchasing (and having access to) larger homes and/or condos. 

To rent a one bedroom apartment in the city center, it would cost $1,793 in Montreal versus $1,522 in Calgary (Apr 2026). Calgary is the slight winner here but the costs are very comparable and it would depend what area of the city you lived in.

Other Financial Factors - Calgary vs Montreal

In Alberta, the 2026 taxable income for the first $61,200 is 8% and over $61,200 up to $154,259 is 10%. In Quebec, the 2026 taxable income for the first $54,345 is 14%, over $54,345 up to $108,680 it is 19%, over $108,680 up to $132,245 it is 24% and over $132,245 it is 25.75%. Therefore income tax rates are quite high, for certain tax brackets in Montreal (double at times) when compared to Calgary.

Salary Calgary vs Montreal

Although the cost of living is cheaper in Montreal, salaries are generally higher in Calgary and offset the difference. The average yearly salary is $69,900 in Calgary versus $60,400 in Montreal according to 2024 data. This means the average salary in Calgary is 15.73% higher than in Montreal.

Summary

In analyzing the cost of living across four major Canadian cities (Toronto, Vancouver, Montreal, & Calgary), Calgary consistently emerges as an attractive choice. Calgary is a much more affordable place to live when compared to Toronto and Vancouver. Comparing Montreal to Calgary, Montreal is a more affordable place to live but the difference is much closer and would depend on lifestyle and where in each city you choose to live. In general, the types of expenses/savings seen across each city varies, but the number one factor is usually real estate and rental prices.

In terms of Real Estate and rental prices, Calgary is much more affordable than Toronto and Vancouver (it's not even close) and quite comparable to living in Montreal.

Other financial benefits include: Calgarians typically enjoy higher salaries and lower tax rates for higher income brackets.

Beyond the financial metrics, Calgary provides a balance of cultural richness, healthcare quality, and environmental stability. Overall, Calgary presents a compelling blend of affordability and quality of life in the Canadian urban landscape. For both financial and lifestyle reasons, Calgary is a great place to live.