cost of living toronto

Toronto ranked only the 115th most expensive city in the world

While the cost of living always seems to be sky-rocketing in this expensive city, we've actually gone down on the list of the most expensive cities in the world. 

The results of Mercer's 25th annual Cost of Living Survey are out, and Toronto dropped six spots on the list. 

In 2018, Toronto was ranked as the 109th most expensive city in the world, but this year it dropped to 115th. 

Vancouver, the most expensive city in Canada, also went down on the list: from 109 to 112. 

Ottawa was, and still is, the most affordable city in Canada (of those studied), ranking at number 161 on the list.  

But, Montreal climbed six spots, from 147 to 139. 

In a press release, Gordon Frost, partner and career business leader for Mercer Canada said, "From a global perspective, Canada remains a relatively affordable place to live and an attractive destination for expatriates placed by organizations outside the country." 

Eight out of the top 10 most expensive cities on the list are in Asia, and the number one most expensive city in the world is Hong Kong for the second year in a row. 

Overall, U.S.cities climbed the list because of the strength of the American dollar against other currencies. Chicago jumped 14 places to 37, Washington DC jumped 14 places to 42, Miami jumped 16 spots to 44 and Boston went up 21 spots to 49.

Because European currencies have weakened compared to the U.S. dollar, many major cities fell in the rankings such as Milan (45), Paris (47) and Madrid (82) by 12, 13 and 18 spots respectively. 

In comparison to other major cities, Toronto ranks relatively well on the list. As expensive as this city may seem, it may not be so bad on a worldwide scale. At least it's no Hong Kong!

Here's to hoping we never see the top of the list.

Out of 205 spots, the top 20 most expensive cities in the world are: 

  1. Hong Kong
  2. Tokyo
  3. Singapore
  4. Seoul
  5. Zurich
  6. Shanghai
  7. Ashgabat
  8. Beijing
  9. New York City
  10. Shenzhen
  11. Ndjamena
  12. Bern
  13. Geneva
  14. Victoria
  15. Tel Aviv
  16. San Francisco
  17. Guangzhou
  18. Los Angeles 
  19. Osaka
  20. Copenhagen  
Lead photo by

b.m.a.n.


Join the conversation Load comments

Latest in City

Here's the list of all streets in Toronto that could get dedicated transit lanes

A church in Toronto is taking requests for prayers and people have a lot to say

Multiple families fighting against eviction from Toronto apartment complex

A raccoon prepared for lockdown this week by visiting a Toronto Best Buy

Ontario just passed a bill to make Daylight Saving Time permanent

10 options for Christmas tree delivery in Toronto

A neighbourhood in Toronto is now filled with inflatable holiday llamas

New report shows Ontario's COVID response not actually led by chief health expert