How much will I spend per year on living in Toronto as an MBA student?
Living costs in Toronto for an MBA student can typically run from CAD 23,000 to 39,000 a year, covering rent, food, transport and personal expenses. This is higher than the CAD 15,000 to 25,000 figure often quoted as a national average. Montreal and Calgary are noticeably cheaper.
Living in Toronto can cost you about CAD 23,000 to 39,000 (approx INR 15.55 L to 26.37 L) per year once rent, food, transport and personal expenses are included. That is higher than the CAD 15,000 to 25,000 (approx INR 10.14 L to 16.90 L) figure often quoted as a national average, so budget for the upper end if you choose Toronto.
Annual breakdown for a mid-range city
| Expense | Annual cost (CAD, approx INR) |
|---|---|
| Accommodation | 12,000 to 25,000 (approx INR 8.11 to 16.90 L) |
| Food and groceries | 4,000 to 6,000 (approx INR 2.70 to 4.06 L) |
| Transport | 1,200 to 2,000 (approx INR 81,132 to 1.35 L) |
| Personal expenses | 2,000 to 3,000 (approx INR 1.35 to 2.03 L) |
| Health insurance | 600 to 1,000 (approx INR 40,566 to 67,610) |
How Toronto compares with other cities
- Toronto and Vancouver are the most expensive cities for living costs.
- Montreal and Calgary are noticeably cheaper, which helps keep the total cost lower at schools in those cities.
- Winnipeg is the most budget-friendly option if cost matters more than city life.
My Advice
Use the Toronto range for your worst-case budget and the mid-range table for a more modest plan. Add living costs to tuition when you compare MBA programmes, since a cheaper city can offset a higher tuition fee.
This information is available on: rotman.utoronto.ca
How much will a month in Canada cost you?
Rent, food and travel. A real monthly budget, city by city.
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