How far does a $100k salary go after paying recurring expenses and your mortgage or rent? The answer depends on where you live in Canada. Some cities will help you save and stretch your dollar further, while others may leave you with little left after expenses to save. While the cost of living will vary significantly from person to person, we’ll explore how far $100k will stretch and how much you’ll have left based on the average cost of living in different cities in Canada.

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Key Takeaways

• How far your $100,000 salary goes can change drastically based on where you live. 
• Provincial tax rates and living costs in each city can significantly impact your ability to save. 
• Housing costs account for a significant portion of an individual’s cost of living.

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The average cost of living for homeowners and renters is calculated based on the average monthly cost of housing, transportation, groceries, utilities, dining, leisure and entertainment, clothing, and miscellaneous goods and services in each city for a single person. If you live in one of these cities, your cost of living may be lower or higher depending on your lifestyle and what you spend (or don’t spend) in these particular categories. 

What a $100,000 Salary Is Worth in 5 Ontario Cities

Ontario is the most populated province in Canada. In Ontario, if you earn a $100k salary, your take-home income after taxes is approximately $73,570.69 a year or $6,130.89 a month.

What a $100,000 Salary Is Worth in Toronto

If you’re a homeowner in Toronto, the average monthly shelter costs are approximately 43% ($2,661) of your take-home pay. If you’re a renter, your average monthly shelter costs are approximately 38% ($2,131). 

• Average cost of living for homeowners per month: $4,660
• Income left each month: $1,471
• Income left each year: $17,651

• Average cost of living for renters per month: $4,130
• Income left each month: $2,001
• Income left each year: $24,011

What a $100,000 Salary Is Worth in Mississauga

If you’re a homeowner in Mississauga, your monthly shelter costs are approximately 42% ($2,578) of your take-home pay. If you’re a renter, your shelter costs are approximately 36% ($2,205). 

• Average cost of living for homeowners per month: $4,517
• Income left each month: $1,614
• Income left each year: $19,367

• Average cost of living for renters per month: $4,144
• Income left each month: $1,987
• Income left each year: $23,843

What a $100,000 Salary is Worth in Hamilton

If you’re a homeowner in Hamilton, your monthly shelter costs are approximately 34% ($2,097) of your take-home pay. If you’re a renter, your shelter costs are approximately 28% ($1,705). 

• Average cost of living for homeowners per month: $4,022
• Income left each month: $2,109
• Income left each year: $25,307

• Average cost of living for renters per month: $3,630
• Income left each month: $2,501
• Income left each year: $30,011

What a $100,000 Salary is Worth in Brampton

If you’re a homeowner in Brampton, your monthly shelter costs are approximately 49% ($3,009) of your take-home pay. If you’re a renter, your shelter costs are approximately 29% ($1,798). 

• Average cost of living for homeowners per month: $4,857
• Income left each month: $1,274
• Income left each year: $15,287

• Average cost of living for renters per month: $3,646
• Income left each month: $2,485
• Income left each year: $29,819

What a $100,000 Salary is Worth in Ottawa

If you’re a homeowner in Ottawa, your monthly shelter costs are approximately 36% ($2,178) of your take-home pay. If you’re a renter, your shelter costs are approximately 29% ($1,765). 

• Average cost of living for homeowners per month: $4,218
• Income left each month: $1,913
• Income left each year: $22,955

• Average cost of living for renters per month: $3,805
• Income left each month: $2,326
• Income left each year: $27,911

What a $100,000 Salary Is Worth in 5 Quebec Cities

Quebec might be Ontario’s runner-up in population size, but this province’s housing costs are notably lower. However, taxes in Quebec are higher than in other provinces in Canada. In Quebec, if you earn a $100k salary, your take-home income after taxes is approximately $69,040.80 a year or $5,753.40 a month. 

What a $100,000 Salary Is Worth in Montreal

If you’re a homeowner in Montreal, your monthly shelter costs are approximately 35% ($2,001) of your take-home pay. If you’re a renter, your shelter costs are approximately 24% ($1,357). 

• Average cost of living for homeowners per month: $3,987
• Income left each month: $1,766
• Income left each year: $21,197

• Average cost of living for renters per month: $3,343
• Income left each month: $2,410
• Income left each year: $28,925

What a $100,000 Salary Is Worth in Quebec City

If you’re a homeowner in Quebec City, your monthly shelter costs are approximately 27% ($1,561) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,198). 

• Average cost of living for homeowners per month: $3,540
• Income left each month: $2,213
• Income left each year: $26,561

• Average cost of living for renters per month: $3,177
• Income left each month: $2,576
• Income left each year: $30,917

What a $100,000 Salary Is Worth in Laval

If you’re a homeowner in Laval, your monthly shelter costs are approximately 31% ($1,794) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,500). 

• Average cost of living for homeowners per month: $3,739
• Income left each month: $2,014
• Income left each year: $24,173

• Average cost of living for renters per month: $3,445
• Income left each month: $2,308
• Income left each year: $27,701

What a $100,000 Salary Is Worth in Gatineau

If you’re a homeowner in Gatineau, your monthly shelter costs are approximately 29% ($1,679) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,217). 

• Average cost of living for homeowners per month: $3,628
• Income left each month: $2,125
• Income left each year: $25,505

• Average cost of living for renters per month: $3,166
• Income left each month: $2,587
• Income left each year: $31,049

What a $100,000 Salary Is Worth in Longueuil

If you’re a homeowner in Longueuil, your monthly shelter costs are approximately 29% ($1,647) of your take-home pay. If you’re a renter, your shelter costs are approximately 25% ($1,450). 

• Average cost of living for homeowners per month: $3,528
• Income left each month: $2,225
• Income left each year: $26,705

• Average cost of living for renters per month: $3,331
• Income left each month: $2,422
• Income left each year: $29,069

What a $100,000 Salary Is Worth in 5 Alberta Cities

Alberta boasts some of the lowest income tax and more affordable housing options in its major cities compared to the rest of Canada. In Alberta, if you earn a $100k salary, your take-home income after taxes is approximately $73,271.64 a year or $6,105.97 a month. 

What a $100,000 Salary Is Worth in Calgary

If you’re a homeowner in Calgary, your monthly shelter costs are approximately 38% ($2,317) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,603). 

• Average cost of living for homeowners per month: $4,441
• Income left each month: $1,665
• Income left each year: $19,980

• Average cost of living for renters per month: $3,727
• Income left each month: $2,379
• Income left each year: $28,548

What a $100,000 Salary Is Worth in Edmonton

If you’re a homeowner in Edmonton, your monthly shelter costs are approximately 37% ($2,246) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,266). 

• Average cost of living for homeowners per month: $4,240
• Income left each month: $1,866
• Income left each year: $22,392

• Average cost of living for renters per month: $3,260
• Income left each month: $2,846
• Income left each year: $34,152

What a $100,000 Salary Is Worth in Red Deer

If you’re a homeowner in Red Deer, your monthly shelter costs are approximately 33% ($1,988) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,270). 

• Average cost of living for homeowners per month: $3,924
• Income left each month: $2,182
• Income left each year: $26,184

• Average cost of living for renters per month: $3,206
• Income left each month: $2,900
• Income left each year: $34,800

What a $100,000 Salary Is Worth in Lethbridge

If you’re a homeowner in Lethbridge, your monthly shelter costs are approximately 30% ($1,829) of your take-home pay. If you’re a renter, your shelter costs are approximately 19% ($1,133). 

• Average cost of living for homeowners per month: $3,852
• Income left each month: $2,254
• Income left each year: $27,048

• Average cost of living for renters per month: $3,156
• Income left each month: $2,950
• Income left each year: $35,340

What a $100,000 Salary Is Worth in St. Albert

If you’re a homeowner in St. Albert, your monthly shelter costs are approximately %37 ($2,285) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,579). 

• Average cost of living for homeowners per month: $4,284
• Income left each month: $1,822
• Income left each year: $21,864

• Average cost of living for renters per month: $3,578
• Income left each month: $2,528
• Income left each year: $30,336

What a $100,000 Salary Is Worth in 5 British Columbia Cities

British Columbia, namely Vancouver, is known for having some of the most expensive real estate in the country, not to mention a high cost of living. In British Columbia, if you earn a $100k salary, your take-home income after taxes is approximately $74,949.74 a year or $6,245.81 a month. 

What a $100,000 Salary Is Worth in Vancouver

If you’re a homeowner in Vancouver, your monthly shelter costs are approximately 44% ($2,722) of your take-home pay. If you’re a renter, your shelter costs are approximately 38% ($2,380). 

• Average cost of living for homeowners per month: $4,775
• Income left each month: $1,471
• Income left each year: $17,650

• Average cost of living for renters per month: $4,433
• Income left each month: $1,813
• Income left each year: $21,754

What a $100,000 Salary Is Worth in Victoria

If you’re a homeowner in Victoria, your monthly shelter costs are approximately 33% ($2,071) of your take-home pay. If you’re a renter, your shelter costs are approximately 30% ($1,858). 

• Average cost of living for homeowners per month: $4,224
• Income left each month: $2,022
• Income left each year: $24,262

• Average cost of living for renters per month: $4,011
• Income left each month: $2,235
• Income left each year: $26,818

What a $100,000 Salary Is Worth in Kelowna

If you’re a homeowner in Kelowna, your monthly shelter costs are approximately 34% ($2,108) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,610). 

• Average cost of living for homeowners per month: $4,210
• Income left each month: $2,036
• Income left each year: $24,430

• Average cost of living for renters per month: $3,712
• Income left each month: $2,534
• Income left each year: $30,406

What a $100,000 Salary Is Worth in Abbotsford

If you’re a homeowner in Abbotsford, your monthly shelter costs are approximately 35% ($2,215) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,608). 

• Average cost of living for homeowners per month: $4,170
• Income left each month: $2,076
• Income left each year: $24,910

• Average cost of living for renters per month: $3,563
• Income left each month: $2,683
• Income left each year: $32,194

What a $100,000 Salary Is Worth in White Rock

If you’re a homeowner in White Rock, your monthly shelter costs are approximately 36% ($2,257) of your take-home pay. If you’re a renter, your shelter costs are approximately 25% ($1,579). 

• Average cost of living for homeowners per month: $4,146
• Income left each month: $2,100
• Income left each year: $25,198

• Average cost of living for renters per month: $3,468
• Income left each month: $2,778
• Income left each year: $33,334

Where $100,000 Is Worth More and Less Across Canada

The table below ranks 25 Canadian cities based on the income left each year after taxes and living expenses are deducted from a $100,000 salary. The numbers are based on the provincial tax rates and the average cost of living for a single renter. While specific rankings are not provided for all cities, the table shows how earning$100,000k can feel like a lot or a little solely based on location. not provided for all cities, the table shows how earning $100k can feel like a lot or a little solely based on location. 

Rank	City	Discretionary Income
1	Regina	$35,996
2	Edmonton	$34,152
3	Saskatoon	$33,596
4	Niagara Falls	$32,327
5	Winnipeg	$31,246
6	Gatineau	$31,049
7	Quebec City	$30,917
8	Waterloo	$30,599
9	Kingston	$30,551
10	Windsor	$30,275
11	Hamilton	$30,011
12	London	$29,711
13	Montreal	$28,925
14	Kitchener	$28,859
15	Barrie	$28,667
16	Calgary	$28,548
17	St. Catharines	$28,283
18	Ottawa	$27,911
19	Victoria	$26,818
20	Guelph	$26,375
21	Burlington	$25,931
22	Toronto	$24,011
23	Mississauga	$23,843
24	Halifax	$23,260
25	Vancouver	$21,754

Frequently Asked Questions

Final Thoughts 

Considering a city’s cost of living is crucial when determining how far your money will go. The location you choose to call home in Canada can significantly impact the value of your salary. What may seem like a high salary in one city may not stretch as far in another. A higher salary doesn’t always translate to a better quality of life if the cost of living eats away at your earnings.

Reach out to nesto’s mortgage experts for personalized advice and mortgage solutions to achieve your homeownership dreams.

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