THE COST OF LIVING IN ONTARIO

According to the Ontario Living Wage Network report, the minimum hourly wage required to cover basic living expenses in Ontario is only increasing.

This organization regularly estimates the cost of basic goods and services such as rent, food, transportation, communications, clothing, and medical expenses, and determines what the minimum hourly amount that a household would need to earn in different parts of the province to meet those basic needs. Inflationary pressures pushed the living wage required in the Greater Toronto Area to $25.05 an hour. That’s a jump of more than 8 percent from last year's estimate of $23.15 an hour.

The most affordable place to live in Ontario is the Southwest, with a required minimum wage of $18.65 per hour, followed by Londo, Elgin, and Oxford at $18.85 per hour. Comparatively, the living wage in a major city like Hamilton is $20.80 per hour, and in Ottawa it's $22.75.

The report indicates the hourly wage a worker needs to earn to cover their basic expenses. This is a key measure because it is much closer to actuality than the real life ‘policy-set’ minimum wage, which was increased in Ontario to $16.55/hr on October 1, 2023.

It is estimated that the income needed to make ends meet in Toronto is even higher, with one independent study indicating that an individual needs to earn at least $33.60 an hour to afford a one-bedroom rental in the city.

And if you’re looking to purchase a house or an apartment in Toronto, a minimum annual income of $165,000 (or about $80 per hour gross) is required.