Toronto was just ranked the most expensive city in Canada

Anyone who lives here knows Toronto is pretty pricey, but a new study has made that official. Toronto was just named the most expensive city in Canada for the second time in as many years.

The 2023 Mercer Cost of Living survey, which assessed over 400 cities worldwide, placed Toronto in spot 90 out of the 227 global cities that were ranked. That’s a slight — very slight! — improvement from last year, where Toronto was ranked the 89th most expensive in the world. The city comes in 26 spots ahead of Vancouver, in spot 116, despite having a lower average home price and lower average rents than Vancouver. It was last year that Toronto overtook Vancouver for the title of most expensive city in Canada, and it looks like that title is sticking with us. 

Other Canadian cities on the list include Montreal, down 10 spots from last year in 135th place, Ottawa, down five spots to 137th and Calgary, down four spots to 145th.

Compared to Canadian cities, the cost of living has increased more year over year in the U.S. with all American cities surveyed having gone up in the rankings since last year,” the report reads. 

“Through the Cost of Living Survey, we see that despite domestic inflationary pressures that are affecting overall quality of living, Canada continues to be an attractive destination for remote workers,” Nicole Stewart, Principal at Career at Mercer Canada said in a statement. 

Though with Toronto’s high ranking, perhaps remote workers might steer clear of the city and opt for the more wallet-friendly Montreal or Calgary instead.

At least we can say that we’re faring much better than the United States — New York City ranked 6th overall, with Los Angeles in 11th and San Francisco in 14th. Detroit, Houston and Cleveland all moved up over 20 spots since last year as well.

The survey measured the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.

Here are the top 90 most expensive cities in the world:

  1. Hong Kong, Hong Kong (SAR)
  2. Singapore, Singapore
  3. Zurich, Switzerland
  4. Geneva, Switzerland
  5. Basel, Switzerland
  6. New York City, United States
  7. Bern, Switzerland
  8. Tel Aviv, Israel
  9. Copenhagen, Denmark
  10. Nassau, Bahamas
  11. Los Angeles, United States
  12. Shanghai, China
  13. Beijing, China
  14. San Francisco, United States
  15. Honolulu, United States
  16. Seoul, South Korea
  17. London, United Kingdom
  18. Dubai, United Arab Emirates
  19.  Tokyo, Japan
  20.  Shenzhen, China
  21.  Boston, United States
  22.  Miami, United States
  23.  Washington, United States
  24.  Chicago, United States
  25.  Vienna, Austria
  26.  Bangui, Central African Republic
  27.  Djibouti, Djibouti
  28.  Amsterdam, Netherlands
  29.  Atlanta, United States
  30.  Luanda, Angola
  31.  Seattle, United States
  32.  Kinshasa, The Democratic Republic of the Congo
  33.  Prague, Czech Republic
  34.  Helsinki, Finland
  35.  Paris, France
  36.  Guangzhou, China
  37.  Berlin, Germany
  38.  Munich, Germany
  39.  Conakry, Guinea Republic
  40.  N’Djamena, Chad
  41.  Brussels, Belgium
  42.  Victoria, Seychelles
  43.  Abu Dhabi, United Arab Emirates
  44.  San Juan, Puerto Rico
  45. Buenos Aires, Argentina
  46. The Hague, Netherlands
  47. Lagos, Nigeria
  48. Frankfurt, Germany
  49. Milan, Italy
  50. Philadelphia, United States
  51. Dublin, Ireland
  52. Libreville, Gabon
  53. Dallas, United States
  54. Montevideo, Uruguay
  55. Qingdao, China
  56. Sydney, Australia
  57. Taipei, Taiwan
  58. Luxembourg, Luxembourg
  59. Rome, Italy
  60. Oslo, Norway
  61. Houston, United States
  62. Hamburg, Germany
  63. San Jose, Costa Rica
  64. Riga, Latvia
  65. Pittsburgh, United States
  66. Dakar, Senegal
  67. Minneapolis, United States
  68. Busan, South Korea
  69. Stuttgart, Germany
  70. Noumea, New Caledonia
  71. Melbourne, Australia
  72. Portland, United States
  73. Nanjing, China
  74. Dusseldorf, Germany
  75. Barcelona, Spain
  76. Shenyang, China
  77. Abidjan, Côte D’Ivoire
  78. St. Louis, United States
  79. Mexico City, Mexico
  80. Detroit, United States
  81. Douala, Cameroon
  82. Brisbane, Australia
  83. Madrid, Spain
  84. Brazzaville, The Republic Of Congo
  85. Riyadh, Saudi Arabia
  86. Edinburgh, United Kingdom
  87. Santiago, Chile
  88. Cleveland, United States
  89. Chengdu, China
  90. Toronto, Canada

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