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Today: 17.01.2018 - 21:33:41
   Canada Mortgage Hub Discussion Board -> Mortgage Toronto -> Can you live comfortably in Toronto on a $45,000 a year salary?
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psber

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Can you live comfortably in Toronto on a $45,000 a year salary?
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pajohns

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You could afford to pay about $900/month rent on that income which means you won't be living right downtown but could afford to rent a small place midtown or a bit further out. (A landlord would approve you for up to 1/4 of your monthly income for rent). If you were thinking of buying a house/condo you could afford a mortgage of about $135,000 which as you can probably guess is not getting you a house anywhere in Toronto or even with commuting distance. Certainly it's doable, especially if it's a career you're interested in, but it could be an adjustment for you.
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