How far does a $100k salary go after paying recurring expenses and your mortgage or rent? The answer depends on where you live in Canada. Some cities will help you save and stretch your dollar further, while others may leave you with little left after expenses to save. While the cost of living will vary significantly from person to person, we’ll explore how far $100k will stretch and how much you’ll have left based on the average cost of living in different cities in Canada.
Key Takeaways
- How far your $100,000 salary goes can change drastically based on where you live.
- Provincial tax rates and living costs in each city can significantly impact your ability to save.
- Housing costs account for a significant portion of an individual’s cost of living.
The average cost of living for homeowners and renters is calculated based on the average monthly cost of housing, transportation, groceries, utilities, dining, leisure and entertainment, clothing, and miscellaneous goods and services in each city for a single person. If you live in one of these cities, your cost of living may be lower or higher depending on your lifestyle and what you spend (or don’t spend) in these particular categories.
What a $100,000 Salary Is Worth in 5 Ontario Cities
Ontario is the most populated province in Canada. In Ontario, if you earn a $100k salary, your take-home income after taxes is approximately $73,570.69 a year or $6,130.89 a month.
What a $100,000 Salary Is Worth in Toronto
If you’re a homeowner in Toronto, the average monthly shelter costs are approximately 43% ($2,661) of your take-home pay. If you’re a renter, your average monthly shelter costs are approximately 38% ($2,131).
- Average cost of living for homeowners per month: $4,660
- Income left each month: $1,471
- Income left each year: $17,651
- Average cost of living for renters per month: $4,130
- Income left each month: $2,001
- Income left each year: $24,011
What a $100,000 Salary Is Worth in Mississauga
If you’re a homeowner in Mississauga, your monthly shelter costs are approximately 42% ($2,578) of your take-home pay. If you’re a renter, your shelter costs are approximately 36% ($2,205).
- Average cost of living for homeowners per month: $4,517
- Income left each month: $1,614
- Income left each year: $19,367
- Average cost of living for renters per month: $4,144
- Income left each month: $1,987
- Income left each year: $23,843
What a $100,000 Salary is Worth in Hamilton
If you’re a homeowner in Hamilton, your monthly shelter costs are approximately 34% ($2,097) of your take-home pay. If you’re a renter, your shelter costs are approximately 28% ($1,705).
- Average cost of living for homeowners per month: $4,022
- Income left each month: $2,109
- Income left each year: $25,307
- Average cost of living for renters per month: $3,630
- Income left each month: $2,501
- Income left each year: $30,011
What a $100,000 Salary is Worth in Brampton
If you’re a homeowner in Brampton, your monthly shelter costs are approximately 49% ($3,009) of your take-home pay. If you’re a renter, your shelter costs are approximately 29% ($1,798).
- Average cost of living for homeowners per month: $4,857
- Income left each month: $1,274
- Income left each year: $15,287
- Average cost of living for renters per month: $3,646
- Income left each month: $2,485
- Income left each year: $29,819
What a $100,000 Salary is Worth in Ottawa
If you’re a homeowner in Ottawa, your monthly shelter costs are approximately 36% ($2,178) of your take-home pay. If you’re a renter, your shelter costs are approximately 29% ($1,765).
- Average cost of living for homeowners per month: $4,218
- Income left each month: $1,913
- Income left each year: $22,955
- Average cost of living for renters per month: $3,805
- Income left each month: $2,326
- Income left each year: $27,911
What a $100,000 Salary Is Worth in 5 Quebec Cities
Quebec might be Ontario’s runner-up in population size, but this province’s housing costs are notably lower. However, taxes in Quebec are higher than in other provinces in Canada. In Quebec, if you earn a $100k salary, your take-home income after taxes is approximately $69,040.80 a year or $5,753.40 a month.
What a $100,000 Salary Is Worth in Montreal
If you’re a homeowner in Montreal, your monthly shelter costs are approximately 35% ($2,001) of your take-home pay. If you’re a renter, your shelter costs are approximately 24% ($1,357).
- Average cost of living for homeowners per month: $3,987
- Income left each month: $1,766
- Income left each year: $21,197
- Average cost of living for renters per month: $3,343
- Income left each month: $2,410
- Income left each year: $28,925
What a $100,000 Salary Is Worth in Quebec City
If you’re a homeowner in Quebec City, your monthly shelter costs are approximately 27% ($1,561) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,198).
- Average cost of living for homeowners per month: $3,540
- Income left each month: $2,213
- Income left each year: $26,561
- Average cost of living for renters per month: $3,177
- Income left each month: $2,576
- Income left each year: $30,917
What a $100,000 Salary Is Worth in Laval
If you’re a homeowner in Laval, your monthly shelter costs are approximately 31% ($1,794) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,500).
- Average cost of living for homeowners per month: $3,739
- Income left each month: $2,014
- Income left each year: $24,173
- Average cost of living for renters per month: $3,445
- Income left each month: $2,308
- Income left each year: $27,701
What a $100,000 Salary Is Worth in Gatineau
If you’re a homeowner in Gatineau, your monthly shelter costs are approximately 29% ($1,679) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,217).
- Average cost of living for homeowners per month: $3,628
- Income left each month: $2,125
- Income left each year: $25,505
- Average cost of living for renters per month: $3,166
- Income left each month: $2,587
- Income left each year: $31,049
What a $100,000 Salary Is Worth in Longueuil
If you’re a homeowner in Longueuil, your monthly shelter costs are approximately 29% ($1,647) of your take-home pay. If you’re a renter, your shelter costs are approximately 25% ($1,450).
- Average cost of living for homeowners per month: $3,528
- Income left each month: $2,225
- Income left each year: $26,705
- Average cost of living for renters per month: $3,331
- Income left each month: $2,422
- Income left each year: $29,069
What a $100,000 Salary Is Worth in 5 Alberta Cities
Alberta boasts some of the lowest income tax and more affordable housing options in its major cities compared to the rest of Canada. In Alberta, if you earn a $100k salary, your take-home income after taxes is approximately $73,271.64 a year or $6,105.97 a month.
What a $100,000 Salary Is Worth in Calgary
If you’re a homeowner in Calgary, your monthly shelter costs are approximately 38% ($2,317) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,603).
- Average cost of living for homeowners per month: $4,441
- Income left each month: $1,665
- Income left each year: $19,980
- Average cost of living for renters per month: $3,727
- Income left each month: $2,379
- Income left each year: $28,548
What a $100,000 Salary Is Worth in Edmonton
If you’re a homeowner in Edmonton, your monthly shelter costs are approximately 37% ($2,246) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,266).
- Average cost of living for homeowners per month: $4,240
- Income left each month: $1,866
- Income left each year: $22,392
- Average cost of living for renters per month: $3,260
- Income left each month: $2,846
- Income left each year: $34,152
What a $100,000 Salary Is Worth in Red Deer
If you’re a homeowner in Red Deer, your monthly shelter costs are approximately 33% ($1,988) of your take-home pay. If you’re a renter, your shelter costs are approximately 21% ($1,270).
- Average cost of living for homeowners per month: $3,924
- Income left each month: $2,182
- Income left each year: $26,184
- Average cost of living for renters per month: $3,206
- Income left each month: $2,900
- Income left each year: $34,800
What a $100,000 Salary Is Worth in Lethbridge
If you’re a homeowner in Lethbridge, your monthly shelter costs are approximately 30% ($1,829) of your take-home pay. If you’re a renter, your shelter costs are approximately 19% ($1,133).
- Average cost of living for homeowners per month: $3,852
- Income left each month: $2,254
- Income left each year: $27,048
- Average cost of living for renters per month: $3,156
- Income left each month: $2,950
- Income left each year: $35,340
What a $100,000 Salary Is Worth in St. Albert
If you’re a homeowner in St. Albert, your monthly shelter costs are approximately %37 ($2,285) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,579).
- Average cost of living for homeowners per month: $4,284
- Income left each month: $1,822
- Income left each year: $21,864
- Average cost of living for renters per month: $3,578
- Income left each month: $2,528
- Income left each year: $30,336
What a $100,000 Salary Is Worth in 5 British Columbia Cities
British Columbia, namely Vancouver, is known for having some of the most expensive real estate in the country, not to mention a high cost of living. In British Columbia, if you earn a $100k salary, your take-home income after taxes is approximately $74,949.74 a year or $6,245.81 a month.
What a $100,000 Salary Is Worth in Vancouver
If you’re a homeowner in Vancouver, your monthly shelter costs are approximately 44% ($2,722) of your take-home pay. If you’re a renter, your shelter costs are approximately 38% ($2,380).
- Average cost of living for homeowners per month: $4,775
- Income left each month: $1,471
- Income left each year: $17,650
- Average cost of living for renters per month: $4,433
- Income left each month: $1,813
- Income left each year: $21,754
What a $100,000 Salary Is Worth in Victoria
If you’re a homeowner in Victoria, your monthly shelter costs are approximately 33% ($2,071) of your take-home pay. If you’re a renter, your shelter costs are approximately 30% ($1,858).
- Average cost of living for homeowners per month: $4,224
- Income left each month: $2,022
- Income left each year: $24,262
- Average cost of living for renters per month: $4,011
- Income left each month: $2,235
- Income left each year: $26,818
What a $100,000 Salary Is Worth in Kelowna
If you’re a homeowner in Kelowna, your monthly shelter costs are approximately 34% ($2,108) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,610).
- Average cost of living for homeowners per month: $4,210
- Income left each month: $2,036
- Income left each year: $24,430
- Average cost of living for renters per month: $3,712
- Income left each month: $2,534
- Income left each year: $30,406
What a $100,000 Salary Is Worth in Abbotsford
If you’re a homeowner in Abbotsford, your monthly shelter costs are approximately 35% ($2,215) of your take-home pay. If you’re a renter, your shelter costs are approximately 26% ($1,608).
- Average cost of living for homeowners per month: $4,170
- Income left each month: $2,076
- Income left each year: $24,910
- Average cost of living for renters per month: $3,563
- Income left each month: $2,683
- Income left each year: $32,194
What a $100,000 Salary Is Worth in White Rock
If you’re a homeowner in White Rock, your monthly shelter costs are approximately 36% ($2,257) of your take-home pay. If you’re a renter, your shelter costs are approximately 25% ($1,579).
- Average cost of living for homeowners per month: $4,146
- Income left each month: $2,100
- Income left each year: $25,198
- Average cost of living for renters per month: $3,468
- Income left each month: $2,778
- Income left each year: $33,334
Where $100,000 Is Worth More and Less Across Canada
The table below ranks 25 Canadian cities based on the income left each year after taxes and living expenses are deducted from a $100,000 salary. The numbers are based on the provincial tax rates and the average cost of living for a single renter. While specific rankings are not provided for all cities, the table shows how earning$100,000k can feel like a lot or a little solely based on location. not provided for all cities, the table shows how earning $100k can feel like a lot or a little solely based on location.
| Rank | City | Discretionary Income |
|---|---|---|
| 1 | Regina | $35,996 |
| 2 | Edmonton | $34,152 |
| 3 | Saskatoon | $33,596 |
| 4 | Niagara Falls | $32,327 |
| 5 | Winnipeg | $31,246 |
| 6 | Gatineau | $31,049 |
| 7 | Quebec City | $30,917 |
| 8 | Waterloo | $30,599 |
| 9 | Kingston | $30,551 |
| 10 | Windsor | $30,275 |
| 11 | Hamilton | $30,011 |
| 12 | London | $29,711 |
| 13 | Montreal | $28,925 |
| 14 | Kitchener | $28,859 |
| 15 | Barrie | $28,667 |
| 16 | Calgary | $28,548 |
| 17 | St. Catharines | $28,283 |
| 18 | Ottawa | $27,911 |
| 19 | Victoria | $26,818 |
| 20 | Guelph | $26,375 |
| 21 | Burlington | $25,931 |
| 22 | Toronto | $24,011 |
| 23 | Mississauga | $23,843 |
| 24 | Halifax | $23,260 |
| 25 | Vancouver | $21,754 |
Frequently Asked Questions
Why is there a difference in discretionary income between cities?
The difference is primarily due to provincial tax rates and variations in the cost of living, particularly housing, utilities, and transportation. Cities with higher housing costs and taxes will result in your income not going as far as it could compared to locations with lower taxes and housing costs.
How can I determine the actual value of a $100,000 salary in my specific situation?
To determine the actual value of a $100,000 salary in your specific situation, you must consider your expenses, including housing, transportation, food, utilities, entertainment, and any other discretionary expenses you have each month. You should also consider any non-discretionary obligations associated with debt repayments or the extra cost of dependents if you have a family.
Does the cost of living include the cost of buying a home?
While the cost of living does not include the full upfront cost of purchasing a home, it does consider monthly mortgage payments or rent.
Final Thoughts
Considering a city’s cost of living is crucial when determining how far your money will go. The location you choose to call home in Canada can significantly impact the value of your salary. What may seem like a high salary in one city may not stretch as far in another. A higher salary doesn’t always translate to a better quality of life if the cost of living eats away at your earnings.
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