Moving to Toronto: Everything You Need to Know Before You Arrive

Why move to Toronto?

Toronto rewards people who show up ready. Canada's financial capital, home to the Big Five banks, a booming tech corridor and one of North America's fastest-growing life sciences sectors.

Over 50% of Toronto residents were born outside Canada. More than 200 languages are spoken here — whatever your background, you will find your community.

World-class restaurants, a packed festival calendar, excellent universities (U of T, TMU, York) and transit that covers the whole city.

For many newcomers, Toronto is the natural first stop in Canada: immigration infrastructure, settlement services and newcomer networks are among the best in the country.

The trade-off? It costs more than almost anywhere else in Canada. Go in with your eyes open and a realistic budget.

Finding a home in Toronto

Start your housing search at least 6–8 weeks before your move date. The market has softened slightly from its 2022–2023 peak, but good units still go fast.

Search on Rentals.ca, Zumper, Kijiji, Facebook Marketplace and liv.rent (verified listings).

Housing types: condos dominate downtown (modern, often with amenities but smaller and pricier); basement apartments are more affordable in North York, Scarborough or Etobicoke — inspect carefully; semi-detached and detached houses are common in the suburbs.

Ontario tenant rights: the Residential Tenancies Act protects against arbitrary evictions and limits rent increases for existing tenants. Last month's rent deposit is standard and legal (first + last). Landlords cannot charge a damage deposit on top.

Best neighbourhoods for newcomers

Your choice depends on budget, work location and family profile.

• The Annex: walkable, leafy, close to U of T. 1-bedroom $2,100–$2,400/month. Strong for students and young professionals.
• North York: most versatile for newcomers — Yonge-University subway, diverse communities. 1-bedroom $1,900–$2,200/month.
• Scarborough: most affordable in Toronto proper — South Asian, Caribbean and East Asian communities. 1-bedroom $1,700–$1,950/month. Transit is less convenient; a car helps.
• Etobicoke: quieter and suburban, more space for families. Kipling and Islington stations connect downtown.
• Mississauga: outside Toronto city limits, well connected via GO Transit and Hurontario LRT. 1-bedroom $1,700–$1,900/month.

Hidden costs and cost of living

Beyond rent: utilities often not included ($100–$150/month), tenant insurance ($20–$40/month), internet ($60–$90/month), parking ($100–$200/month if needed).

Realistic monthly budget for a single person in 2026: average rent ~$2,000–$2,150, TTC pass $156, groceries $400–$500, utilities ~$130 — estimated total ~$3,200–$3,500 CAD.

Compared to Montreal (~$2,400), Toronto costs roughly $600–$900/month more for a comparable lifestyle. Finance and tech salaries tend to be higher, partially offsetting the gap.

Ground-level numbers: sit-down lunch $18–$25, pint of beer $8–$11, Bike Share Toronto ~$9/month (annual plan), single TTC fare $3.30 with PRESTO.

Getting around the city

TTC (subway, streetcar, bus): monthly adult pass $156 (PRESTO card). Check ttc.ca for current fares.

GO Transit: regional rail and bus to Mississauga, Brampton, Hamilton, Oshawa. Distance-based fares from $3.70 with PRESTO. Ontario's One Fare Program discounts the second leg on GO + TTC transfers.

Cycling: growing protected lane network. Bike Share Toronto has 900+ stations; annual pass ~$105/year.

Traffic: Gardiner Expressway and Highway 401 are notoriously congested. Rush hour 7–9 a.m. and 4–7 p.m. Downtown parking $20–$40/day.

You do not need a car downtown or along a subway line. In Scarborough or Etobicoke, a car makes life significantly easier.

Administrative steps in your first two weeks

Order matters. Five priorities:

• SIN (Social Insurance Number): Service Canada, in person or online. Free, often same-day.
• OHIP (Ontario Health Insurance): Ontario eliminated the 3-month waiting period. Apply as soon as you arrive at a ServiceOntario centre with immigration documents and proof of residency.
• Bank account: open immediately. RBC, TD, Scotiabank, BMO and CIBC offer newcomer packages with reduced fees for the first year.
• Driver's licence: 60 days to exchange a foreign licence at DriveTest. Some countries have reciprocal agreements.
• Utilities: Toronto Hydro (electricity), Enbridge Gas, internet via WhistleOut — TekSavvy and Distributel often offer better value.

Working in Toronto

Finance: Bay Street, Big Five banks, insurance and fintech. Steady demand for analysts, accountants and risk professionals.

Tech: Shopify, Google, Amazon and hundreds of scale-ups. Strongest 2026 demand in cybersecurity, cloud, AI and data science. Entry-level roles more competitive than 2021–2022.

Healthcare: fast-growing hiring area. Nurses, physicians and PSWs in high demand. Life sciences (biotech, pharma) expanding.

Film and media: 'Hollywood North' — production, post-production and creative services.

Job search tips: LinkedIn is essential; networking matters more than your CV. Start credential recognition before arrival for regulated professions.

Neighbourhoods, culture and seasons

Toronto is a collection of worlds: Little Portugal, Chinatown, Little Italy, Greektown, Little India on Gerrard, Koreatown on Bloor — all within a few kilometres.

Festivals: Toronto Pride (June), Caribbean Carnival / Caribana (late July–early August), TIFF every September, Nuit Blanche in October.

Summer (June–August) is spectacular. Winter (December–March) is cold but manageable (~-4°C to -7°C in January), milder than Montreal. Invest in a good coat and waterproof boots.

A very outdoor city in good weather: waterfront, High Park, Don Valley trails, Toronto Islands.

How IR Conciergerie can help you settle in

Finding an apartment, navigating admin steps and figuring out transit while jet-lagged — the first weeks can overwhelm even seasoned movers.

Airport transfer: professional pickup at Pearson (YYZ) or Billy Bishop (YTZ) on day one.

Housing search and inspection: shortlisting by budget and neighbourhood, inspecting before you sign — invaluable in a fast-moving market.

Administrative support: SIN, OHIP, bank account, Toronto Hydro, internet — in the right order. Services from $80 CAD + tax.

We operate in Montréal, Toronto and Vancouver. Request a personalized quote.