Wondering how far your $100k salary actually goes after paying recurring expenses and your mortgage? The answer really depends on where in Canada you’re living. Different locations will stretch your $100K salary to different lengths. In this blog post, we’ll explore the areas where your income will go the furtherest and where it, well, won’t as much.

---

Key Highlights

• How far your $100,000 salary can take you can change drastically based on where you live. 
• Cost of living and mortgage are top considerations on total monthly money flow.
• Adjusting for cost of living makes a significant impact on what a $100,000 salary looks like in different cities. 

---

What a $100,000 salary is worth in Ontario’s 5 Biggest Cities:

Ontario is the most populated province in all of Canada. Here is a list of Ontario’s 5 biggest cities and what your $100,000 salary looks like in each of them. You might be shocked to find that living in Toronto vs living in a smaller city right outside the metropolis can make a difference of $2,000.

What a $100,000 salary is worth in Toronto, Ontario:

If you are a homeowner in Toronto, Ontario with a salary of $100,000, you are also taking home a yearly income of $73,440 after taxes, with an average monthly income of $6,120.

The monthly cost of living in Toronto for a homeowner is estimated at $4,091, with mortgage payment taking up 53% ($2,179) of that total.

Your net income after essentials is: $24,348

What a $100,000 salary is worth in Mississauga, Ontario:

If you are a homeowner in Mississauga, Ontario with a salary of $100,000, you are also taking home a yearly income of $73,440 after taxes, with an average monthly income of $6,120. The monthly cost of living in Mississauga for a homeowner is estimated at $3,806, with mortgage payment taking up 55% ($2,110) of that total.

Your net income after essentials is: $27,768

What a $100,000 salary is worth in Hamilton, Ontario:

If you are a homeowner in Hamilton, Ontario with a salary of $100,000, you are also taking home a yearly income of $73,440 after taxes, with an average monthly income of $6,120. The monthly cost of living in Hamilton for a homeowner is estimated at $3,545, with mortgage payment taking up 48% ($1,717) of that total.

Your net income after essentials is: $30,900

What a $100,000 salary is worth in Brampton, Ontario:

If you are a homeowner in Brampton, Ontario with a salary of $100,000, you are also taking home a yearly income of $73,440 after taxes, with an average monthly income of $6,120. The monthly cost of living in Brampton for a homeowner is estimated at $4,223, with mortgage payment taking up 58% ($2,463) of that total.

Your net income after essentials is: $22,764

What a $100,000 salary is worth in Ottawa, Ontario:

If you are a homeowner in Ottawa, Ontario with a salary of $100,000, you are also taking home a yearly income of $73,440 after taxes, with an average monthly income of $6,120. The monthly cost of living in Ottawa for a homeowner is estimated at $3,668, with mortgage payment taking up 49% ($1,783) of that total.

Your net income after essentials is:$29,424

What a $100,000 salary is worth in Quebec’s 5 Biggest Cities:

Quebec might be Ontario’s runner up in population size, but the cost of living in this province is notably lower. You might find that while Quebec’s income tax takes a much more significant bite out of your 100K, the lower-than-the-national-average cost of living in some cities makes up for it.

What a $100,000 salary is worth in Montreal, Quebec:

If you are a homeowner in Montreal, Quebec with a salary of $100,000, you are also taking home a yearly income of $67,954 after taxes, with an average monthly income of $5,663. The monthly cost of living in Montreal for a homeowner is estimated at $3,413, with mortgage payment taking up 48% ($1,638) of that total.

Your net income after essentials is: $27,000

What a $100,000 salary is worth in Quebec City, Quebec:

If you are a homeowner in Quebec City, Quebec with a salary of $100,000, you are also taking home a yearly income of $67,954 after taxes, with an average monthly income of $5,663. The monthly cost of living in Quebec City for a homeowner is estimated at $3,115, with mortgage payment taking up 41% ($1,277) of that total.

Your net income after essentials is: $30,576

What a $100,000 salary is worth in Laval, Quebec:

If you are a homeowner in Laval, Quebec with a salary of $100,000, you are also taking home a yearly income of $67,954 after taxes, with an average monthly income of $5,663. The monthly cost of living in Laval for a homeowner is estimated at $3,035, with mortgage payment taking up 48% ($1,469) of that total.

Your net income after essentials is: $31,536

What a $100,000 salary is worth in Gatineau, Quebec:

If you are a homeowner in Gatineau, Quebec with a salary of $100,000, you are also taking home a yearly income of $67,954 after taxes, with an average monthly income of $5,663. The monthly cost of living in Gatineau for a homeowner is estimated at $3,021, with mortgage payment taking up 45% ($1,375) of that total.

Your net income after essentials is: $31,704

What a $100,000 salary is worth in Longueuil, Quebec:

If you are a homeowner in Longueuil, Quebec with a salary of $100,000, you are also taking home a yearly income of $67,954 after taxes, with an average monthly income of $5,663. The monthly cost of living in Longueuil for a homeowner is estimated at $3,062, with mortgage payment taking up 44% ($1,348) of that total.

Your net income after essentials is: $31,212

What a $100,000 salary is worth in Alberta’s 5 Biggest Cities:

Alberta boasts some of the lowest income tax in Canada, as well as more affordable housing options in its major cities. The cost of living in Edmonton, for example, is much closer to the national average than other cities of its size. 

What a $100,000 salary is worth in Calgary, Alberta:

If you are a homeowner in Calgary, Alberta with a salary of $100,000, you are also taking home a yearly income of $73,278 after taxes, with an average monthly income of $6,106. The monthly cost of living in Calgary for a homeowner is estimated at $3,830, with mortgage payment taking up 50% ($1,896) of that total.

Your net income after essentials is: $27,312

What a $100,000 salary is worth in Edmonton, Alberta:

If you are a homeowner in Edmonton, Alberta with a salary of $100,000, you are also taking home a yearly income of $73,278 after taxes, with an average monthly income of $6,106. The monthly cost of living in Edmonton for a homeowner is estimated at $3,781, with mortgage payment taking up 49% ($1,839) of that total.

Your net income after essentials is: $27,900

What a $100,000 salary is worth in Red Deer, Alberta:

If you are a homeowner in Red Deer, Alberta with a salary of $100,000, you are also taking home a yearly income of $73,278 after taxes, with an average monthly income of $6,106. The monthly cost of living in Red Deer for a homeowner is estimated at $3,483, with mortgage payment taking up 47% ($1,627) of that total.

Your net income after essentials is: $31,476

What a $100,000 salary is worth in Lethbridge, Alberta:

If you are a homeowner in Lethbridge, Alberta with a salary of $100,000, you are also taking home a yearly income of $73,278 after taxes, with an average monthly income of $6,106. The monthly cost of living in Lethbridge for a homeowner is estimated at $3,452, with mortgage payment taking up 43% ($1,490) of that total.

Your net income after essentials is: $31,848

What a $100,000 salary is worth in St. Albert, Alberta:

If you are a homeowner in St. Albert, Alberta with a salary of $100,000, you are also taking home a yearly income of $73,278 after taxes, with an average monthly income of $6,106. The monthly cost of living in St. Albert for a homeowner is estimated at $3,658, with mortgage payment taking up 51% ($1,871) of that total.

Your net income after essentials is: $29,376

What a $100,000 salary is worth in 5 British Columbia’s Biggest Cities:

British Columbia, namely Vancouver, is known for having some of the most expensive real estate in the entire country, not to mention the high cost of living. Vancouver, for one, is definitely at the bottom of the list when it comes to how far a $100,000 salary can take you.

What a $100,000 salary is worth in Vancouver, BC:

If you are a homeowner in Vancouver, BC with a salary of $100,000, you are also taking home a yearly income of $74,826 after taxes, with an average monthly income of $6,235. The monthly cost of living in Vancouver for a homeowner is estimated at $4,134, with mortgage payment taking up 54% ($2,228) of that total.

Your net income after essentials is: $25,212

What a $100,000 salary is worth in Victoria, BC:

If you are a homeowner in Victoria, BC with a salary of $100,000, you are also taking home a yearly income of $74,826 after taxes, with an average monthly income of $6,235. The monthly cost of living in Victoria for a homeowner is estimated at $3,759, with mortgage payment taking up 45% ($1,695) of that total.

Your net income after essentials is: $29,712

What a $100,000 salary is worth in Kelowna, BC:

If you are a homeowner in Kelowna, BC with a salary of $100,000, you are also taking home a yearly income of $74,826 after taxes, with an average monthly income of $6,235. The monthly cost of living in Kelowna for a homeowner is estimated at $3,555, with mortgage payment taking up 49% ($1,725) of that total.

Your net income after essentials is: $32,160

What a $100,000 salary is worth in Abbotsford, BC:

If you are a homeowner in Abbotsford, BC with a salary of $100,000, you are also taking home a yearly income of $74,826 after taxes, with an average monthly income of $6,235. The monthly cost of living in Abbotsford for a homeowner is estimated at $3,537, with mortgage payment taking up 51% ($1,813) of that total.

Your net income after essentials is: $32,376

What a $100,000 salary is worth in White Rock, BC:

If you are a homeowner in White Rock, BC with a salary of $100,000, you are also taking home a yearly income of $74,826 after taxes, with an average monthly income of $6,235. The monthly cost of living in White Rock for a homeowner is estimated at $3,633, with mortgage payment taking up 51% ($1,847) of that total.

Your net income after essentials is: $31,224

Where $100,000 Is Worth the Most and the Least in Canada:

Rank	City	Net Income on $100,000 Salary (Post-Tax & COL)
1	Abbotsford, BC	$32,376
2	Kelowna, BC	$32,160
3	Lethbridge, AB	$31,848
4	Gatineau, QC	$31,706
5	Laval, QC	$31,536
6	Red Deer, AB	$31,476
7	White Rock, AB	$31,224
8	Longueuil, QC	$31,212
9	Hamilton, ON	$30,900
10	Quebec City, QC	$30,576
11	Victoria, BC	$29,712
12	St. Albert, AB	$29,376
13	Ottawa, ON	$29,424
14	Edmonton, AB	$27,900
15	Mississauga, ON	$27,768
16	Calgary, AB	$27,312
17	Montreal, QC	$27,000
18	Vancouver, BC	$25,212
19	Toronto, ON	$24,348
20	Brampton, ON	$22,764

Final Thoughts 

Taking into consideration the cost of living in the city is crucial when determining how far that money goes. Keeping all this in mind, if you are looking to refinance or renew your mortgage or just want to find out more about potential money-saving scenarios, don’t hesitate to get in touch with one of our mortgage experts today!

---