From what I've experienced, this is rapidly becoming untrue - CoL in Toronto has become very high, friends are paying comparable to what I paid in NYC but salaries are definitely lower. They're paying in CAD what I paid in USD, but are earning 20-30% less. Food is also more expensive (particularly eating out), on the whole, than NYC.
Most new construction apartments are quite small, and the older, larger ones command a significant premium. You can move out of the downtown core (to North York, Scarborough, etc) but then you're committed to a long commute on the slow TTC or sitting in traffic on the 401.
MTL is much cheaper, but salaries also lag even further.
Most new construction apartments are quite small, and the older, larger ones command a significant premium. You can move out of the downtown core (to North York, Scarborough, etc) but then you're committed to a long commute on the slow TTC or sitting in traffic on the 401.
MTL is much cheaper, but salaries also lag even further.