Quick Answer
100,000 is a strong salary in Toronto, placing you above roughly 86% of earners. After taxes (~24% effective rate), your take-home is approximately $6,336/month. A 1-bedroom apartment averages $2,100/month (33% of net income).
100k per year sounds different depending on where you live. In Toronto, this salary puts you in a specific income bracket that determines your housing options, disposable income, and long-term financial trajectory. Let's look at the numbers.
Toronto (pop. 2.8 million) is moderately expensive compared to global metros, with a cost of living index of 75 (NYC = 100). Average 1-bedroom rent is $2,100/month and a monthly transit pass costs $130. It's considered a strong tech market with a tech score of 7/10.
The question of whether 100k is "good" in Toronto often reveals more about expectations than economics. For recent graduates, it might represent an exciting milestone. For experienced professionals, it could feel like a plateau. Context—your career stage, industry, and personal ambitions—shapes perception as much as data does.
Childcare and family costs in Toronto can completely transform salary adequacy. Daycare, school supplies, extracurricular activities, and family healthcare add thousands to annual expenses. Families evaluating 100k should model these costs carefully, as they can consume 20-30% of take-home income in some markets.
Digital nomad and remote work trends have added a new dimension to salary evaluation. If you're earning 100k from a Toronto-based employer but living part-time in lower-cost locations, your effective purchasing power increases substantially. However, tax implications of cross-border work arrangements can be complex.
Inflation trends in Toronto directly impact whether 100k will feel the same in 12 months. Cities experiencing above-average inflation effectively give workers a pay cut each year if salaries don't adjust accordingly. Monitoring local CPI trends helps you anticipate whether your compensation is keeping pace.
The final dimension of salary evaluation is psychological. Research consistently shows that income satisfaction is relative—people compare themselves to peers, neighbors, and media portrayals. Understanding that 100k objectively provides a certain quality of life in Toronto, regardless of what others earn, is key to financial contentment.
Is 100k a good salary in Toronto in 2026?
100k is a very strong salary, placing you in the top 14% of earners in Toronto. The local median salary is $58,000, so earning $100,000 puts you at the 86th percentile. After accounting for housing (average $2,100/month for a 1-bedroom), taxes, and daily costs, this salary allows for meaningful monthly savings.
How much tax will I pay on 100k in Toronto?
On a gross salary of $100,000 in Canada, you can expect an effective tax rate of approximately 24%. This means roughly $23,972 per year goes to taxes, leaving you with a net income of about $76,028 per year ($6,336 per month). The exact amount may vary based on deductions, filing status, and local levies.
What is the average rent in Toronto in 2026?
As of 2026, the average rent for a 1-bedroom apartment in central Toronto is approximately $2,100 per month, while a 2-bedroom averages around $2,900 per month. On a 100k salary, a 1-bedroom rent would consume about 33% of your after-tax income, which is a significant portion of income.
How does 100k in Toronto compare to other cities?
Purchasing power varies by city, so 100k in Toronto is not equivalent elsewhere. Adjusted for cost of living, the same standard of living would require approximately: New York ($133,000), London ($113,000), San Francisco ($140,000). Toronto has a purchasing power index of 82 (NYC = 100), meaning your money goes somewhat less far than in New York.
What is the cost of living in Toronto in 2026?
Toronto has a cost of living index of 75 (where New York = 100), making it a moderately expensive city. Key monthly costs include: rent ($2,100 for 1BR), groceries (~$351), transport ($130), and utilities (~$113). Total monthly expenses for a single professional average around $2,882 before discretionary spending.
Can I save money on 100k in Toronto?
On 100k in Toronto, your estimated monthly take-home pay is $6,336 after taxes. With typical expenses of $2,882/month (rent, groceries, transport, utilities, and leisure), you could potentially save around $3,454 per month ($41,448/year). This provides solid room for building an emergency fund and investing.
Last updated: 2026-02-19 | Data sources: Numbeo, OECD, Glassdoor, and local government statistics.
Disclaimer: This page uses market data and cost-of-living sources for guidance. All figures and advice are estimates, not guarantees. Local conditions and personal circumstances may vary.
