Is it cheaper to live in Halifax or Toronto? This data says costs are comparable
The Cost of Housing and Transportation in Halifax Compared to Toronto
Recent data analyzed by CBC News from Statistics Canada shows that Halifax households typically spent a comparable share of their income on housing and transportation costs in 2024 to cities like Toronto. Approximately half of households in Halifax were estimated to spend 31 per cent or more of their before-tax income on these expenses, similar to Toronto where the figure was 30 per cent.
Real estate agent Chris Melnyk noted that housing costs in Halifax have risen significantly in recent years, with prices for many homes doubling from 2019 to 2022. This increase has made it challenging for some individuals, including those outside Nova Scotia looking to relocate, to afford homes in Halifax.
Montreal-based musician Rachel Sunter experienced the rising housing prices firsthand while living in Halifax. As rental prices soared, Sunter found it increasingly difficult to afford a home, ultimately leading her to move to Montreal where rents are typically lower.
The data from Statistics Canada’s Housing and Transportation Cost Index for 2024 reveals that Halifax ranks 22nd most expensive out of the 50 largest census subdivisions in Canada when considering the combined costs of housing and transportation. Despite Halifax having lower housing costs compared to Toronto, transportation expenses in Halifax, particularly gas prices, contribute to the overall affordability challenges faced by residents.
According to Marcello Barisonzi, a senior analyst at Statistics Canada, Nova Scotia ranks sixth in terms of housing costs and fourth in terms of transportation costs when compared to other provinces. Transportation costs are particularly high for those living in small towns within the province.
Overall, the data highlights the financial burden that housing and transportation costs place on households in Halifax, making it essential for policymakers to address these affordability challenges to ensure the city remains a viable and accessible place to live.
