It is no secret that the cost of living in Ontario is on the rise, especially in concentrated urban areas such as the GTA. Hamilton has put itself on the map as an ideal city to live in if you’re on the hunt for an urban lifestyle without the high living expenses in Toronto, while still being able to enjoy easy commuting access into the big city.
But how do these two cities stack up? Let’s take a closer look at a cost of living comparison and why Hamilton might be your preferred choice for your next big move.
Cost of Living Comparison
Now, we know Hamilton is more affordable than the GTA, but by how much? Well, according to the Cost of Living Index, Hamilton is 25.4% lower than the GTA.
Compared with Toronto, rental prices are a whopping 47.23% lower in Hamilton and even groceries are roughly 32% lower. It is no surprise then that the costs to buy a house are much lower in Hamilton as well. Apartments in Hamilton are going for less than half of what they are in Toronto per square foot.
Is the Cost of Living in Toronto Worth It?
There is no simple way to answer this question. Of course, living in Toronto and the GTA has its unique benefits. Afterall, it is the most populated city in Canada and it’s not difficult to see why with access to so many attractions, events, restaurants and tourist destinations that have made it so well known.
Having said that, moving to Hamilton allows you the opportunity to commute to the GTA for work or pleasure easily while enjoying a more comfortable quality of life due to the lower living expenses. The city has also become a prime area for live entertainment, sporting events and those interested in the Niagara escarpment, and makes considerable gains in tourist traffic every year.
Although there are always trade offs when it comes to choosing a place to live, living in Hamilton means more money left to save at the end of each month!
Curious to learn more about living in Hamilton? Contact us today for more information or with your questions, we’d love to chat with you.