Toronto in Canada | Population, Cost of Living, and Economic Sector

Are you planning to take a tour or relocate to Canada and settle probably settle in Toronto? As you read this article, you are going to get general information about Toronto in Canada.

Every year, Toronto welcomes a lot of foreign immigrants in their thousands across many countries of the world. This is due to the fact that the province provides them with good features and conditions that make living comfortably.

Somebody might be inquisitive to know about these enticing features that are found in Toronto. If you are one of these sets of persons, ensure you read this article carefully to the end. See LMIA Jobs in Canada.

Toronto, the capital of the province of Ontario, is a major Canadian city along Lake Ontario’s northwestern shore. It’s a dynamic metropolis with a core of soaring skyscrapers, all dwarfed by the iconic, free-standing CN Tower.

Toronto also has many green spaces, from the orderly oval of Queen’s Park to 400-acre High Park and its trails, sports facilities, and zoo. See Canada City.

Toronto is known for its many skyscrapers and high-rise buildings, in particular the tallest free-standing structure on land outside of Asia, the CN Tower.

There are 25 City Councillors. The provincial government is responsible for matters within the borders of the Province of Ontario.

There are 22 Members of Ontario’s Provincial Parliament (MPPs) that represent the residents of Toronto in the Legislative Assembly at Queen’s Park in Toronto.

The Population of Toronto, Canada

For population figures for Toronto within its pre-1998 city limits, see Old Toronto. The last complete census by Statistics Canada, which was taken in 2021, estimated there were 2,794,356 living in Toronto, making it the largest city in Canada and the fourth most populous municipality in North America.

The historical population data of Toronto (2010-2023) showed that the growth rate is on decreasing rate. The summary is presented in the table below:

Toronto – Historical Population Data
YearPopulationGrowth Rate

Average Cost of Living in Toronto

The average cost of living in Toronto is $4,011/month for a single person who rents. This average is based on many factors including the cost of housing, transportation, groceries, and entertainment.

Breakdowns of the average cost of living in the city of Toronto are given below:

  • The average monthly cost of rental housing in Toronto is $2,107.
  • The average monthly spend for a driver in Toronto is $571.
  • The average person spends $466 on groceries per month in Toronto.
  • The average monthly cost of utilities in Toronto is $171.
  • The average person in Toronto spends $162 on leisure & entertainment per month.
  • The average person in Toronto spends $40 on clothing per month.
  • The average person in Toronto spends $344 on restaurants per month.
  • The average person in Toronto spends $150 on miscellaneous goods and services per month.

However, you should note that the figures given above are the standard for living in Toronto, they are just estimates of which the actual amount could be higher or lower depending on individual expenditures per month.

Toronto Economy

The city’s total economy amounts to approximately $450 billion annually. Toronto’s economic growth has been on a consistent upward trend for more than a decade. Its economy totaled about $282 billion in 2009 and has increased to today’s total of $450 billion.

Toronto is a large hub of the Canadian and global technology industry, generating $52 billion in revenues annually.

The 7 most thriving industries in Toronto are:

  1. Finance. Toronto has the second largest financial industry in North America and is the biggest financial centre in Canada.
  2. Real Estate.
  3. Technology.
  4. Media and Entertainment.
  5. Tourism.
  6. Manufacturing.
  7. Life Sciences.

The city’s bustling economy, vibrant culture, and diverse population make all the difference in making the city attractive to newcomers.

I hope this article has been very beneficial to you. if have any other questions about Toronto in Canada, kindly make use of the comment section under this article.

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