Cost of Living

Tracking your monthly expenses is an important part of manage your money.  It helps you avoid spending more than you earn.

What you can afford depends on your income. Learn about the local job market, including wages and salaries, and job strategies for new immigrants to estimate your income. Income taxes and other pay deductions can take up to 35% off your paycheque. 

Many families live on much less than what we list below, and many families spend much more. Here, we give you an idea of what the costs could be. Your monthly expenses will depend on the choices you make. 

Expenses usually include:

Housing

Renting - Rental amounts vary but the average monthly rent for:

• A two-bedroom apartment is $825
• A three-bedroom apartment is $900 
• A room in a house can cost much less
  

Buying a home - The average MLS (Multiple Listing Service) house price is $237,913. 

Compare Waterloo Region to other cities on the Canadian Mortgage and Housing Corporation (CMHC) website. 

Utilities

Monthly bill estimates for utilities are:

• Heat (Gas, Oil, Electric) - $100 - but it changes greatly by the season, fuel and housing type
• Electricity - $30-50
• Water - $30-50
• Telephone - $30-40 for regular (local) service
• Internet - $30-40 for basic service
• Cable TV - $30-40 for basic service

Food

• Food costs vary but for a family of four could cost $400-600 each month.  See The Cost of the Nutritious Food Basket to figure out what it may cost to feed your family.