Top 10 Most expensive cities to live in Canada (January 2023)

Which Canadian cities are the most expensive to live in as of January 2023? Vancouver ranks first in terms of cost of living when one-bedroom apartment rentals are included. The median rental price for a one-bedroom apartment in Vancouver is $2,480 per month as of January 2023 (+16.40% year-on-year). Second place goes to the city of Toronto, where the average cost of renting a one-bedroom apartment is $2,300 per month. Rental rates for one-bedroom apartments in Toronto have increased by 24.30% in the last year (from January 2022 to January 2023).

Over the past year, rental rates for one-bedroom apartments have risen the most in London (31.00%), Halifax (30.10%) and Kingston (27.10%).