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Today: 17.01.2018 - 21:57:25
   Canada Mortgage Hub Discussion Board -> Mortgage Toronto -> With an annual salary of C$100K what rent can be afforded in the Great Toronto Area in Canada?
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pressburo

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With an annual salary of C$100K what rent can be afforded in the Great Toronto Area in Canada?
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pob.szczecinek

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You would be able to buy a place to live on 100K.
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promplastik-msk

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Well... with a $100k salary, after taxes, Canadian pension, etc. deductions, you would see about $65k. A typical one bedroom apartment near downtown would run you about $1500/month. A small condo (rental) would run about $2000 a month. Add $400 for food, $200 for medical insurance (assuming you are Canadian), $200 a month on transit, $250 for entertainment, etc. and you can likely live comfortably for $2500-$3000 a month or about $30k per year.With a $100k salary, you could likely afford a mortage and buy a condo. A mortgage on a $400k condo would run you around $3000 a month. With fees and expenses, expect that to work out to around $4500 a month or about $50k a year.
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