(Newswire.net — October 2, 2023) — Toronto is considered one of the top cities for living, which attracts people from all over the world. Statistics show that in 2021, about half of the city’s population (46.6%) were immigrants. A thriving economy, generous social programs, and the advantages of a multicultural society facilitate this. Here are several facts that can help get a big picture of this city.
- Population (2022): 3,025,647;
- Land Area: 630 km2;
- Average summer highs: 27C;
- Average winter highs: -1C;
- Sunny days (annually): 305;
- Days with no sun (annually): 57;
- Average household Income (2020): $84,000;
- Average property price (2023): single-family home ($1,365,200), townhouse house (845,600), condo ($717,600), composite home ($1,141,400);
- Average rent for apartment ($2,898);
- Gross Domestic Product ($ billion, 2021): $171;
- Time zone: EST (UTC -5 hours).
Housing and Areas in Toronto
The city is distinguished by 10 areas, including top ones like Yorkville, Annex, and Bedford. Each of them comes with unique architecture and pace of life.
Pros
The main advantage of Toronto’s areas regarding housing is diversity. Thus, in quiet Bedford, there are many apartments and condos. Excellent elementary schools make the area ideal for married couples and those who cannot stand the hustle and bustle.
Annex, the most popular area for local moving in Toronto, in turn, has a combined architecture. Here, you will find both ancient houses of the Victorian era and modern architectural solutions. This is a center for students and creative people with a huge selection of restaurants, themed cafes, and other socializing places.
Cons
Among the main disadvantages is the high rent (on average $2,898), which is close to that of London or New York. There are 2 main reasons for this:
- Active attraction of foreign investors;
- Increasing the share of condos with their higher value.
Also, due to active gentrification, areas with unique architecture become more standard and lose their charm.
Toronto’s Job Market Challenges
Toronto is Canada’s key economic hub. Here, a representative of literally every profession can find a job on favorable terms.
Pros
Due to the diversity of the labor market in Toronto, qualifications are not always an issue. You can work both in the financial industry, which provides about 200,000 jobs, and in an area where no previous experience is required (factory helper, cashier, package handler, etc.).
Cons
If you are still applying for a highly-paid job, then you will encounter severe competition. It is especially true in the marketing, high technology, and finance sectors. Often, finding a job requires communication and contact with the right people. That’s why job seekers often use professional social networks like LinkedIn.
Transport Infrastructure in Toronto
Given the large population and economic activity, the transport issue becomes acute. This is also one of the key points for those who live in the suburbs, regardless of whether they have their own car or use public transport.
Pros
The city has an extensive network of public transport system. it connects the center with all municipalities that form the Greater Toronto Area. In 2023, work is underway to expand the network to ensure equal opportunities for residents of different regions. Among available types of public transport are the following:
- Bus;
- Streetcar;
- Subway.
On average, a pass will cost you $156 monthly. It is insignificant compared to the cost of parking tickets or fuel prices.
Cons
Traffic jams can be a key problem in Toronto for those who travel in their own cars. The main rush hours in the city are 6-10 a.m. and 3-7 p.m. Also, the subway can be crowded during this time, so this is something to consider when planning your trip.
(Source – Unsplash)
Toronto’s Cost of Living
Toronto offers many opportunities to earn money in different areas. However, the cost of living to salary ratio is unfavorable for those earning less than $3,000 monthly. Here’s an example of a Toronto resident’s typical expenses:
- Bedroom Apartment rent in Downtown: $2,000;
- Renter’s Insurance: $30;
- Utilities and Internet – $250;
- Groceries + one meal out in a week: $200;
In general, the issue of cost of living has more disadvantages than advantages. According to statistics, a salary between C$3,500 and C$4,500 per month is considered to be one that can fully cover all possible needs. It means you must earn around C$55,000 – C$72,000 per year before taxes.
Lifestyle in Toronto
One of the city’s peculiarities is its free lifestyle, thanks to multiculturalism. Here, you can choose the dynamic entertainment of multiple nightclubs or a more measured lifestyle by enjoying dozens of parks and visiting cultural places.
Pros
Toronto is the gastronomic center of Canada, where people come to try the best examples of a dozen world cuisines. Here are some popular areas:
- Chinatown;
- Little Italy;
- Greektown;
- Little India.
Art fans can visit world-famous theaters, including CAA Ed Mirvish, Young People, and Fox theaters. Tronto also boasts numerous museums and art galleries. Another peculiarity of Toronto is a security issue. It is considered the safest place in North America, with a Crime Index of 42.95 and a Safety Index of 57.05.
Cons
The main problem may be the climate most people need to adapt to. Summers in Toronto are humid and hot, with temperatures that can rise above 35C. In winter, temperatures can drop below -20C.