Montreal Cost of Living Guide: Income Needed to Thrive
When comparing the cost of living of popular Canadian cities, Montreal is more affordable than Toronto or Vancouver. Still, budget planning is essential, and to do that, you need to understand the actual costs of living in Montreal.
This guide covers all the major expense categories for realistic budgeting, from housing and groceries to utilities, dining, and transportation. Plus, learn a few ways energy solutions can help you save.
Cost of Living in Montreal Explained
You can't just look at one category to understand Montreal's holistic cost of living. You have to consider all aspects.
Housing Costs Versus Other Major Cities
Montreal’s average rent ($1700 for a one-bedroom apartment) is typically about 20% lower than Toronto's ($2150 for a one-bedroom apartment) and 35% lower than Vancouver's ($2500 for a one-bedroom apartment). Housing costs also differ depending on where you’re located in Montreal, with neighbourhoods like Westmount, Pointe-Claire, and Outremont costing more than average, and suburban communities and Mile End are more affordable.
The good news is that homeownership tends to be more accessible in Montreal than in other major Canadian cities. This is mainly due to Montreal's high housing supply elasticity, affordable prices (compared to other places), and flexible zoning policies. There’s also a culture and preference for renting over homeownership in Quebec, adding supply to the rental market.
Residents often compare the fixed costs of renting vs. the variable costs of buying, taking into account things like property taxes, necessary updates, typical household wattage, and more that landlords often manage when renting.
Groceries: Monthly Costs for Individuals & Families
Groceries are another essential cost when calculating the cost of living. Concordia University reports that, in 2024, the average single man paid $433 per month, while the average woman paid $341 per month. You’ll pay more if you’re feeding a family. Expect to spend between $900 and $1100 monthly when feeding a family of four.
Grocery costs may be more expensive in downtown areas, while suburbs may offer cheaper grocery prices.
Utilities and Internet: Monthly Costs
This is one arena where Montreal’s costs come in significantly lower than those in Toronto. According to Hydro Quebec, the residential electricity rates are nearly half what Toronto residents pay. The utility also mentions that Montreal’s electricity is about seven times lower than what those in New York pay. Montreal residents pay an average of $80 monthly for $1,000 kWh of energy.
If you want to reduce electricity costs further, you can save 20-30% by using time-of-use rates that work in your favour. For example, you could charge the EcoFlow RIVER 3 Plus + 160W Solar Panel during off-peak hours and use it as portable backup power when rates are higher.
Another money-saving hack is integrating the EcoFlow DELTA Pro 3 Solar Generator (PV400W) into your home’s wiring for whole-home backup. This allows you to use solar power generation to reduce your grid dependency.
You can increase your confidence in these investments by calculating your solar ROI. You can determine your average kWh usage per year and how much you would pay for that power. Then, divide your solar generator cost by your annual savings to see how long it would take to recoup your investment. Most Montreal residents will complete their payback period within 5-8 years of use.
Gas is another primary expense for residents, especially in the cold winters. The average natural gas consumption can cost about $160 during the colder months, with summer months’ costs dipping lower.
Most homes also need wireless internet. This cost is relatively manageable, with plans around $50-80 per month for high-speed internet access. Sometimes, you can bundle your internet with a phone plan. For unbundled coverage, expect to pay around $40-80 monthly for a reliable phone plan.
Public Transit & Transportation Costs
Unless you live in a highly walkable area, you’ll need to plan for transportation costs of one form or another. Public transit makes it easy to get around Montreal. You can purchase a monthly pass at regular fare for $104.50, or pay per fare with $3.75 for a single trip rate. Other residents prefer to drive a car. In addition to variable car loan payments, drivers can expect to pay about $1.70 per litre of gasoline and another $100-300 per month for parking.
Dining & Entertainment Costs
Your restaurant habits also play a role in determining your average living cost in Montreal. A mid-range restaurant will cost about $20-30 per person, while you can expect to pay $70-90 for a higher-end, three-course meal. Need something fast, cheap, and easy? Grab a fast food meal for about $15 or a cappuccino for $5.30. Those who eat out more than they cook at home can budget for a slightly smaller grocery budget, but will be paying much more for the convenience of restaurant meals.
Frequently Asked Questions
Is It Expensive To Live in Montreal?
Montreal offers a moderate cost of living compared to other major North American and Canadian cities. It can be 20-30% cheaper than living in Toronto or Vancouver, the cities it’s most often compared to. It still costs more than living in smaller Canadian cities, but the quality of life usually justifies the costs for Montreal residents.
What Salary Do You Need To Live Comfortably in Montreal?
A comfortable salary for a Montreal resident is around $50,000-60,000 minimum for an individual or $80,000-100,000 for a couple. A family of four will need around $120,000-150,000 for a comfortable household income. In this case, comfortable living includes savings, entertainment, and an emergency fund.
Montreal Salaries Define Comfortable City Living
When looking broadly at Canadian cities, Montreal offers excellent value if you crave that city living experience. Housing is the most significant expense, but there are ways to save if you’re willing to get creative. For example, consider investing in a solar generator like the EcoFlow RIVER 3 Plus + 160W Solar Panel to leverage lower time-of-use rates and reduce monthly electricity costs. Other options include taking public transportation rather than relying on a personal car.
If you want to live comfortably in Montreal, we recommend budgeting about $4,000-$6,000 per month. Those with income levels around that amount can thrive in Montreal.