New York vs Toronto: Cost of Living & Salary Comparison
How do New York and Toronto stack up for professionals? We compare salaries, rent, taxes, and overall quality of life to help you make an informed decision.
New York
Toronto
Detailed Cost Comparison
| Category | New York | Toronto | Difference |
|---|---|---|---|
| Cost of Living Index | 100 | 75 | +33% (lower is better) |
| Median Salary | $75,000 | $58,000 | |
| Rent (1BR) | $3,200 | $2,100 | (/month) |
| Rent (2BR) | $4,500 | $2,900 | (/month) |
| Groceries Index | 100 | 78 | +28% (NYC=100) |
| Transport Monthly | $127 | $130 | |
| Effective Tax Rate | 28.5% | 29% | (at median income) |
| Purchasing Power | 100 | 82 | +22% (higher is better) |
Salary Comparison by Role
| Role | New York | Toronto | Difference |
|---|---|---|---|
| Software Engineer | $140,000 | $90,000 | +56% |
| Product Manager | $140,000 | $90,000 | +56% |
| Data Scientist | $140,000 | $88,000 | +59% |
| DevOps Engineer | $145,000 | $92,000 | +58% |
| Frontend Developer | $120,000 | $78,000 | +54% |
| Engineering Manager | $195,000 | $125,000 | +56% |
New York Offers Better Purchasing Power
While New York may have higher costs, its purchasing power index of 100 vs 82 means your money generally goes further. Higher median salaries ($75,000 vs $58,000) help offset costs.
Common Questions
Based on cost of living indices, New York (100) is more expensive compared to Toronto (75), where NYC = 100.
To maintain the same standard of living, you would need approximately $75,000 in Toronto to match $100,000 in New York.
New York has a tech hub score of 9/10 while Toronto scores 7/10. New York generally offers more tech opportunities.
Based on purchasing power, New York offers better value. This accounts for both salary levels and cost of living.
Compare Your Own Salary
See exactly how your salary compares in New York vs Toronto with our free tool.
Check Your Salary →Related Salary Insights
Last updated: 2026-02-19 | Data sources: Numbeo, OECD, Glassdoor, and local government statistics.