Four of the five least affordable cities in Canada, US are north of the border

Four of the five most expensive cities in Canada and the United States are located north of the border, according to a new study.

Conducted by insurance provider PolicyAdvisor, the study found that Mississauga, Vancouver and Hamilton were more unaffordable than major US cities like LA and Chicago.

The study compared the average cost of eight common expenses, including a month’s rent, a bottle of water and a restaurant meal, in the 10 most populous cities in Canada and the United States.

The cost of a cappuccino, a movie ticket, a month’s gym membership, a one-way public transport ticket, and a monthly public transport pass was also analyzed.

To determine which cities are the most and least affordable, the combined cost of items was calculated as a percentage of the average monthly salary. Data is in US dollars.

When considering the cost of living relative to salary, Mississauga was considered the most unaffordable city in Canada and the second most expensive metropolis in Canada and the United States. New York City took first place.

Mississauga had some of the most expensive public transit – a monthly pass costs $111.32, the third most expensive after New York and Toronto, while the $2.89 required for a single trip was the most expensive of all the metropolises.

At $1,626.77 per month, Mississauga had the third most expensive rent in Canada, behind only Toronto and Vancouver.

But what made the city so unaffordable was its low wages. With an average monthly salary of $3,202.30, the aforementioned eight items equal 56.4% of the residents’ monthly salary.

“These data contain some surprising results,” said a PolicyAdvisor spokesperson.

“While some major cities in North America may be perceived to have a lower cost of living, taking into account the average wage in the region, it’s not as clear cut.”

Low wages are what earned Vancouver third place on the list. Residents earn an average of $3,804.53 per month, with cost of living indicators accounting for 50% of this amount.

Hamilton ranked fourth due to high transportation costs, high rents and low wages. The study found that the average Hamiltonian has 47% of their monthly income taken up by the combined cost of all eight items.

Toronto rounds out the top five, with 46.7% of residents’ average monthly income spent on the cost of living.

Ottawa had the most expensive meal in Canada, at $19.30, while Edmonton’s $3.96 cappuccino was the most expensive, as was its $1.80 bottled water.

The $62.76 needed for a monthly gym membership in Calgary was the most expensive in the country. The city is tied with Vancouver for the most expensive movie ticket: $12.30. The average monthly rent of $1,731.50 in Vancouver was the highest in Canada.

The highest monthly salary is in Brampton ($4,413.22), while the lowest is in Winnipeg ($2,328.36).

The most expensive cities in Canada and the United States according to the cost of living:

1. New York (57.6% of monthly income spent on cost of living)

2. Mississauga (56.4%)

3.Vancouver (50%)

4. Hamilton (47%)

5. Toronto (46.7%)

6. Los Angeles (46.6%)

7. San Diego (45.7%)

8. Chicago (44.6%)

9. Ottawa (44%)

10. Montreal (43.5%)

11.Winnipeg (40.8%)

12. Philadelphia (40.6%)

13. Phoenix (39.5%)

14. San Jose (32.9%)

15. Brampton (30.9%)

16. Dallas (30.7%)

17. San Antonio (29.9%)

18. Houston (29.8%)

19. Edmonton (29.6%)

20. Calgary (29.3%)

Leave a Comment