Thousands of people still pick Toronto as their first home in Canada every year, even as rules and costs change. The city has the country’s deepest job market. It also has some of its highest living costs. Moving there in 2027 can be a good decision, but only if your income, immigration route and budget all work together.
This guide covers what has changed, what things cost now, and how to plan your move step by step.
Toronto in 2027: What’s Different
Immigration is more selective. Canada has moved from growth to stability. The federal government plans to admit 380,000 permanent residents in each of 2026, 2027 and 2028, while continuing efforts to reduce the number of temporary residents. Economic-class admissions are set at 244,700 for 2027, so skilled workers still get most of the places. immigrationimmigration
Fewer temporary permits are being issued. The notional temporary resident target for 2027 is 370,000 new arrivals, including 150,000 international students and 220,000 temporary workers. Ottawa has committed to bringing temporary residents below 5 per cent of the total population by the end of 2027. canadaimmigration
Rents have eased slightly. After years of steep increases, median asking rent for a one-bedroom in Toronto was $2,150 in September 2026, down 2.3% from a year earlier. moving2canada
The result is that fewer people will get permits to come, but those who arrive will find a housing market that is a little easier than it was in 2023–2024.
Immigration Routes to Toronto
You need the right status before you can work in Toronto. These are the main routes:
Express Entry (permanent residence). This is the main federal system for skilled workers. Candidates are ranked by age, education, language scores and work experience. Canadian work experience and strong English or French scores give you the biggest boost.
Ontario Immigrant Nominee Program (OINP). Ontario’s provincial program nominates workers the province needs, especially in healthcare, tech and skilled trades. A nomination adds a large number of points to an Express Entry profile.
Employer-specific work permit. This usually requires a job offer and often a Labour Market Impact Assessment (LMIA), which is the employer’s proof that no Canadian was available for the role.
Open work permits. These are limited to certain groups, such as some spouses of skilled workers and eligible graduates.
Warning: No legitimate employer or consultant can guarantee you a visa, an LMIA or a job in exchange for a fee. Check any offer against the official Immigration, Refugees and Citizenship Canada (IRCC) website, and only use licensed consultants (RCIC) or lawyers.
Jobs and Salaries in Toronto
Toronto is Canada’s financial capital. It is also a major centre for healthcare, tech, construction, education and professional services. Sectors with strong demand in 2027 include:
- Healthcare: nurses, personal support workers, lab technicians and allied health staff
- Finance and insurance: banking, risk, compliance and accounting
- Technology: software development, data, cybersecurity and AI
- Skilled trades: electricians, plumbers, HVAC technicians and carpenters
- Construction and engineering: driven by housing and transit projects
Regulated professions need a licence first. Nurses, engineers, teachers and electricians, among others, must have their credentials recognised by an Ontario regulatory body before they can work fully in their field. Start this early, because it can take months.
Minimum wage. Ontario’s general minimum wage rises to $17.95 an hour from October 1, 2026, and stays at that rate until September 30, 2027. A full-time worker on 40 hours a week earns about $37,336 a year before deductions at that rate. That is very hard to live on alone in Toronto, which is why your expected salary matters so much. recordinglawimmigrationnewscanada
Cost of Living in Toronto: A Realistic Budget
Rent
Housing will be your biggest expense. As of September 2026, median asking rents were about $2,150 for a one-bedroom, $2,600 for a two-bedroom and $3,380 for a three-bedroom. A second source puts the figure slightly lower: the City of Toronto’s average unfurnished one-bedroom asking rent was $1,973, which is 3.73% below September 2025. moving2canadaliv
For existing tenants in rent-controlled units, Ontario’s annual rent increase guideline for 2026 is 2.1%. liv
Sample Monthly Budget (Single Person, Renting a One-Bedroom)
| Expense | Estimated Monthly Cost (CAD) |
|---|---|
| Rent (one-bedroom) | $2,000 – $2,200 |
| Groceries | $400 – $550 |
| Utilities and internet | $150 – $250 |
| Phone plan | $40 – $80 |
| Public transit (TTC monthly pass) | ~$160 |
| Tenant insurance | $20 – $40 |
| Personal and leisure | $200 – $400 |
| Total | ~$2,970 – $3,680 |
Estimates only. Costs vary by neighbourhood and lifestyle.
A common rule of thumb is that rent should not take up more than about a third of your take-home pay. By that measure, a single person renting alone needs roughly $75,000–$85,000 a year before tax to be comfortable. Sharing a place or living further from downtown lowers that figure a lot.
Where to Live: Choosing a Neighbourhood
- Downtown and waterfront: shortest commutes and the most amenities, but the highest rents
- North York: good subway access and lots of condo buildings; popular with professionals
- Scarborough: more affordable, with diverse communities; commutes are longer
- Etobicoke: a family-friendly area on the west side
- Mississauga and Brampton: cities in the wider Greater Toronto Area that often give you more space for the money, served by GO Transit
A cheaper apartment with a 90-minute commute can end up costing you more in time and transit fares than it saves in rent. Look at a transit map before you sign a lease.
Your First 30 Days in Toronto: Checklist
- Get your Social Insurance Number (SIN). You need it to work and to be paid.
- Open a bank account. Most big banks offer newcomer packages with no monthly fees for the first year.
- Apply for OHIP. This is Ontario’s public health insurance. Eligible work permit holders and permanent residents can apply. Arrange private cover for any gap before it starts.
- Start building credit. A secured credit card that you pay off in full each month is the safest way to begin.
- Get a Presto card. It is used for TTC, GO Transit and most local transit systems.
- Visit a newcomer settlement agency. These services are free and government-funded. They can help with résumés, job searches, credential recognition and housing.
- Exchange your driving licence if you plan to drive. Some countries have exchange agreements with Ontario.
Is Toronto Right for You?
Toronto is probably a good fit if you:
- work in finance, healthcare, tech or a skilled trade
- have (or can get) a clear immigration route
- want a very diverse city with a large international community
- can earn a salary that supports Toronto rents
Look at other options first if you:
- are relying on minimum-wage work to support a family
- have no work authorisation yet
- would rather have a lower cost of living. Cities such as Calgary, Winnipeg and Halifax often give you more for your money.
Frequently Asked Questions
Is Toronto expensive to live in for 2027?
Yes, compared with most Canadian cities. Rents have dipped slightly from their peak, but a one-bedroom still costs around $2,000–$2,200 a month, so budget carefully.
Can foreigners get jobs in Toronto?
Yes, as long as they have legal permission to work, such as a work permit or permanent residence. Most foreign nationals need a permit unless an exemption applies.
How many immigrants is Canada accepting in 2027?
Canada’s target is 380,000 new permanent residents in 2027, with most places going to economic immigrants.
What is the minimum wage in Toronto in 2027?
Ontario’s general minimum wage is $17.95 per hour from October 1, 2026 to September 30, 2027. A new rate is usually announced by April 1 each year.
What salary do I need to live comfortably in Toronto?
A single person renting alone usually needs $75,000 or more a year. Couples and people sharing housing can manage on less.
Should I rent or buy when I first arrive?
Most newcomers rent at first while they build Canadian credit and income history. Buying usually makes more sense once your job and immigration status are stable.
Final Word
Moving to Toronto in 2027 is less about whether the city is worth it and more about whether your plan holds up. Secure your immigration status first. Research your profession’s licensing requirements. Compare real salary offers against current rents. Use free newcomer services from the day you arrive. If all of that lines up, Toronto still offers one of the best career platforms in North America.
