One of the hardest decisions to make when planning to move is choosing the destination, especially when you’ve narrowed it down to just two marvellous cities: a concrete jungle of dreamers or The Big Smoke.
Has New York City really been waiting for you? Or is being a Torontonian your true calling?
Toronto is the place to be if you’re looking for a more affordable, safer, balanced and community-oriented city. Meanwhile, you’ll fit right in NYC if you’re in love with the hustle and bustle of life and enjoy a fast-paced life in an urban jungle.
What’s our basis for that assumption? Read below the comparisons and discussions that drove us to that conclusion:
New York vs. Toronto: Which City is the Best for You?
- New York vs. Toronto: Which City is the Best for You?
- Cost of Living in New York vs. Toronto
- Real Estate Prices in New York vs. Toronto
- Diversity and Demographics in New York vs. Toronto
- Career Opportunities in New York vs. Toronto
- Crime and Safety in New York vs. Toronto
- Lifestyle in New York vs. Toronto
- Weather in New York vs. Toronto
- Things to Do in New York vs. Toronto
- Healthcare in New York vs. Toronto
- New York and Toronto: Which City is Right for You?
Cost of Living in New York vs. Toronto
The cost of living in Toronto is 36.8% cheaper than in New York. The average monthly living cost in Toronto is $2,348, while it’s $3,723 in New York.
This estimate considers housing, utilities, transportation, and childcare costs in both cities.
We broke this data down to make it easier to absorb. Check the table below for statistics from LivingCost.org:
|Expenses||New York Cost||Toronto Cost|
|Housing (Average Rent per Month)|
|1-bedroom apartment (downtown)||$3237||$1511|
|1-bedroom apartment (outside the city centre)||$2007||$1256|
|3-bedroom apartment (downtown)||$4220||$2615|
|3-bedroom apartment (outside the city centre)||$3341||$2059|
|Utilities (Average Monthly Bill)|
|Utility bill for one person||$105||$75.4|
|Utility bill for a family||$160||$116|
|1-way ticket (local transport ticket)||$2.75||$2.44|
|Monthly pass (local transport ticket)||$129||$116|
|Taxi start (normal tariff)||$20.1||$14.7|
|Gasoline (1 litre)||$1.2||$1.3|
|Childcare (Tuition Fee)|
|Private Preschool/Kindergarten (full day)||$2250||$1156|
|International Primary School||$25,572||$19,602|
When it comes to living costs, both New York and Toronto pack a punch, but there’s a clear difference. Take rent, for example: you’ll be paying three times more for a one-bedroom apartment in the Big Apple compared to Toronto.
Real Estate Prices in New York vs. Toronto
If you’re planning to buy a house, the real estate market in New York is more favourable. However, if you prefer owning a condo apartment, Toronto is your best bet.
The average price of a single-family home in Toronto is 65.08% more expensive than in New York. On the other hand, the cost of a condo apartment in Toronto is 23.61% cheaper than in New York.
Real estate is quite tricky for these two urban giants. Both Toronto and NYC are bustling metropolitans that experience an expectedly high demand for housing, which explains why real estate costs here are over the roof.
However, there’s a significant difference between the land available in the two cities.
There’s a lot more available space in Toronto to build spacious houses compared to New York, where condos are more prominent and are built in more densely populated areas.
As a result, there are more people who prefer buying houses in Toronto, and it’s the opposite for those in NYC. This is mainly due to the limited supply of houses and the convenience, accessibility, and amenities condo apartments offer.
The table below shows the comparison between the average price of single-family homes in the suburbs and condo apartments in New York and Toronto.
|Property Type||New York||Toronto|
Diversity and Demographics in New York vs. Toronto
While over 3 million people in New York City are foreign-born, Toronto’s population is still more diverse. About 54.6% of Torontonians are non-natives.
On the other hand, only 36.1% of New York’s population is foreign-born. The largest ethnic group in New York is White, followed by Asian and Black/African American.
New York City is larger than Toronto in terms of land area and much larger in terms of population. You’ll see in the table below that New York City is much more densely populated than Toronto, having 11,050 people per square kilometre.
|Geographic Location||United States||Ontario|
|Size (Area)||787 square kilometres||630.2 square kilometres|
|Median Age||34.6 years||39.3 years|
|Life Expectancy at Birth||81.6 years||82.1 years|
It’s a lot easier to observe demographic diversity when you look at a place’s respective populations’ racial composition. Here are statistics gathered from World Population Review to break it down:
|Racial Composition||New York||Racial Composition||Toronto|
|East Asian (Chinese, Korean, Japanese)||14.2%||East Asian (Chinese, Korean, Japanese)||12.7%|
|South Asian||12.7%||South Asian||12.3%|
|South-east Asian||5.3%||South-east Asian||7.0%|
|Latin American||8.5%||Latin American||2.8%|
|West Asian||1.3%||West Asian||2.0%|
|Other Visible Minorities||1.5%||Other Visible Minorities||1.5%|
In comparison, Toronto’s population and communities are more culturally varied compared to New York’s.
Still, New York’s foreign-born population continue to grow over the years. Their foreign-born population is an important part of the city’s economy and culture.
Immigrants make up a significant portion of the city’s workforce, and they contribute to the city’s diversity and dynamism.
Career Opportunities in New York vs. Toronto
The work market in New York is better than Toronto by just 1%. As of June 2023, the unemployment rate in NYC is 5.30% while it’s 6.30% for Toronto, which is close to the global rate estimated at 5.8%.
The average annual salary in Toronto is $71,427, while it’s $83,924 in New York.
Now, New York’s higher pay might tempt you, but remember, living costs there are much steeper than in Toronto.
Consider this: better employment probability in an affordable city like Toronto means more chances to save up and invest wisely.
Crime and Safety in New York vs. Toronto
The overall crime rate in Toronto is 27.1% lower than that of New York City, making the former the safer city between the two. There’s also a significant difference in the safety indexes for the two cities.
Below is a comparison of New York’s and Toronto’s violent crime rate, property crime rate, and safety index according to a 2023 report by Numbeo, a website that collects crowd-sourced data on crime rates.
|Violent Crime Rate||68.74||39.38|
|Property Crime Rate||38.39||25.22|
The violent crime rate in Toronto is 45.2% lower than the violent crime rate in New York City, and the property crime rate in Toronto is 25.3% lower than the property crime rate in New York City.
Lifestyle in New York vs. Toronto
While both Toronto and New York are urban mega cities, the kind of lifestyle each offers is unique.
Toronto is your best bet if you want to live in diversity, a lot of green spaces, and experience a laid-back yet dynamic lifestyle. But, you’ll fit in better in New York if you’re fast-paced, ambitious, and thrill-seeking.
To get a better glimpse of the kind of lifestyle each city offers, we compared the two urban centres based on various aspects, including the weather, recreational opportunities, and healthcare services.
Weather in New York vs. Toronto
Both New York and Toronto follow similar weather patterns, experiencing four distinct seasons. However, winters in Toronto are much colder and their summers are also milder in comparison.
New York City experiences warm, humid, and rainy summers, while its winters are extremely cold, snowy, and windy. Throughout the year, the city generally experiences cloudy skies.
The temperature in NYC typically ranges from 28°F (-2.2°C) to 85°F (29.4°C), rarely dropping below 14°F (-10°C) or exceeding 92°F (33.3°C).
Toronto, on the other hand, has a semi-continental climate, with a warm, humid summer and a very cold winter.
Over the course of the year, the temperature typically varies from 17°F (-8.33°C) to 78°F (25.6°C)and is rarely below 1°F (-17.2°C) or above 85°F (29.4°C).
Things to Do in New York vs. Toronto
New York City is ideal for people seeking an exhilarating, fast-paced lifestyle with abundant cultural and entertainment options.
It’s a major centre for finance, media, and fashion, and it attracts a lot of ambitious and career-oriented people. There’s also always something going on in the city, from world-class theatre and museums to endless dining and shopping options.
On the other hand, Toronto attracts those looking for a more balanced and community-oriented city, with a mix of cultural experiences and outdoor activities.
In comparison, Toronto is a more laid-back city despite also being a centre for business. The city has a strong arts and culture scene, boasting many museums, theatres, and music venues.
Healthcare in New York vs. Toronto
New York and Toronto have distinct healthcare systems, as they are located in different countries.
Toronto boasts a universal publicly funded healthcare system, ensuring healthcare for all permanent residents and citizens. OHIP (Ontario Health Insurance Plan) covers basic medical services at no cost to Torontonians.
Conversely, New York operates a private healthcare system, with a public option for low-income residents. Thus, health insurance is crucial in New York as medical costs can be very expensive without coverage.
New York excels in innovative research and specialised treatment centres, making it a hub for complex medical conditions and comprehensive remedies. This is also one reason why healthcare here is a luxury.
In summary, Toronto offers better accessibility and government support, while New York leads in technology and specialisation. As always, the ideal choice depends on your preferences and needs.
New York and Toronto: Which City is Right for You?
In the end, the perfect city for you relies on what you personally value and prioritise. New York and Toronto each have their distinct advantages and disadvantages, making it essential to consider these factors thoughtfully before reaching a decision.
Here’s a little summary to help you out:
|Factors||The Better City||Why|
|Cost of Living||Toronto||New York is 60.4% more expensive than in Toronto.|
|Real Estate||Tied (depends on what kind of home you prefer)||A house is cheaper in New York, but a condo apartment is more affordable in Toronto.|
|Diversity and Demographics||Toronto||While both Toronto and New York are recognized for their diversity, Toronto's diversity stands out more prominently.|
|Career Opportunities||New York City||As of June 2023, the unemployment rate in NYC is 5.30% while it's 6.30% for Toronto.|
|Crime Index||Toronto||The overall crime rate in Toronto is 27.1% lower than that of New York City.|
|Lifestyle||Tied (depends on what kind of lifestyle you prefer)|| |
New York City experiences warm, humid, and rainy summers, while its winters are extremely cold, snowy, and windy. Toronto, on the other hand, has a semi-continental climate, with a warm, humid summer and a very cold winter.
Both New York and Toronto have rich culture, history, and music and arts scenes. Life is more fast-paced in New York while it’s more laidback in Toronto.
Healthcare services in Toronto are more accessible and affordable compared to New York because Toronto is under a public universal healthcare system.