TorontovsBudapest
Overall
💰-30.7%
Toronto is 30.7%cheaper
Rent
🏠-50.0%
Housing is 50.0% lower
Dining
🍽️-40.0%
Restaurants 40.0% cheaper
Groceries
🛒-36.0%
Food shopping 36.0% less
Comparing the cost of living between Toronto, Canada and Budapest, Hungary reveals significant insights for anyone considering relocation or travel in 2025. Our comprehensive analysis shows that Toronto is more affordable than Budapest by approximately 30.7%. This comparison covers essential living expenses including housing, food, transportation, and utilities, providing you with a complete picture of what to expect financially in each city.
Key Cost Differences
Housing costs in Toronto are higher than in Budapest by 100%. A one-bedroom apartment in Toronto's city center costs around CA$2,400, while the same in Budapest is approximately HUF 200,000.
Dining out in Toronto is notably more expensive compared to Budapest. An inexpensive restaurant meal costs CA$20 in Toronto versus HUF 2,000 in Budapest.
Public transportation in Toronto is more affordable, with monthly passes at CA$156 compared to HUF 9,500 in Budapest.
Purchasing power in Toronto is notably stronger, meaning residents can afford more goods and services with their local salaries compared to Budapest.
Grocery shopping in Toronto is more expensive by approximately 56%. Basic items like milk, bread, and eggs show higher prices across the board.
Monthly Budget Breakdown
When breaking down monthly expenses, a single person in Toronto can expect to spend approximately CA$739 per month (excluding rent), while in Budapest, the same lifestyle would cost around HUF 94,600. For families, these figures increase significantly, with a family of four requiring about CA$2,588 monthly in Toronto versus HUF 331,100 in Budapest. These estimates include groceries, dining out, transportation, utilities, and entertainment, providing a realistic picture of day-to-day living costs in each city.
Detailed Cost Comparison
🏠 Housing Costs (Monthly Rent)
🍽️ Food & Dining
🛒 Groceries
🚌 Transportation
💡 Utilities & Internet
Tips for Moving Between Cities
For those considering a move from Budapest to Toronto, the cost savings can be substantial, particularly in housing and daily expenses. However, it's important to factor in salary differences and job opportunities. Conversely, moving from Toronto to Budapest requires careful financial planning. Consider negotiating salary adjustments that reflect the higher cost of living, and research neighborhoods outside the city center for more affordable housing options while maintaining reasonable commute times.
Quality of Life Indices
Toronto
Budapest
Frequently Asked Questions
Is Toronto more expensive than Budapest?
No, Toronto is approximately 30.7% cheaper than Budapest. You'll find significant savings in housing, food, and transportation costs.
How much salary do I need in Toronto compared to Budapest?
To maintain the same standard of living, you would need approximately 77% of your Budapest salary when living in Toronto. For example, if you earn $50,000 in Budapest, you'd need about $38,265 in Toronto for a comparable lifestyle.
What are the biggest cost differences between Toronto and Budapest?
The most significant cost difference is in housing. Rent prices differ by approximately 100%, making it a major factor in your budget planning. Transportation and utilities show notable variations between the two cities.
Which city is better for expats and digital nomads?
Toronto offers better purchasing power, making it more attractive for those earning in strong currencies. However, Toronto provides lower living costs, which benefits budget-conscious travelers. Consider Toronto if you prioritize earning potential, or Budapest for affordability.
What's a reasonable monthly budget for Toronto vs Budapest?
In Toronto, a single person needs approximately CA$2,639 per month (including rent), while a family of four requires about CA$5,588. In Budapest, these figures are HUF 234,600 for singles and HUF 581,100 for families. These estimates include housing, food, transportation, and basic entertainment.
The cost of living comparison between Toronto and Budapest in 2025 shows significant differences across various expense categories. Whether you're planning a relocation for work, considering retirement options, or simply curious about living costs, understanding these differences is crucial for making informed financial decisions.
Need to calculate salary equivalence?
Find out how much you need to earn in Budapest to maintain your lifestyle from Toronto
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