{"id":37479,"date":"2026-03-24T11:32:13","date_gmt":"2026-03-24T15:32:13","guid":{"rendered":"https:\/\/www.prepareforcanada.com\/?p=37479"},"modified":"2026-04-16T17:22:48","modified_gmt":"2026-04-16T21:22:48","slug":"living-in-toronto-ontario","status":"publish","type":"post","link":"https:\/\/prepareforcanada.com\/blog\/housing\/choosing-a-city\/best-newcomer-cities\/living-in-toronto-ontario","title":{"rendered":"Living in Toronto, Ontario: Everything You Need to Know"},"content":{"rendered":"\n\n\n

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Many newcomers are drawn to Toronto, Canada’s largest city and the most diverse in the world, for its exciting atmosphere. However, the cost of living in Toronto is high. Making the right choice about where to live is crucial for your career and finances. You’ll need to compare Toronto\u2019s job market, career prospects, housing options and costs, and quality of life with other locations in the Greater Toronto Area (GTA) and across Canada. Discover what to know about living in Toronto to help you make an informed decision. <\/p>\n\n\n\n

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About Toronto, Ontario<\/strong><\/strong><\/h2>\n\n\n\n
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Toronto is the financial capital of Canada and the second-largest financial services center in North America. About 40 percent of Canada\u2019s business headquarters are here, including the country\u2019s largest banks. Toronto is the capital of the Province of Ontario<\/a> and is located on the north shore of Lake Ontario.<\/p>\n\n\n\n

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It was settled in 1750 as Fort Rouille, established as York in 1793, and incorporated as Toronto in 1834. The city amalgamated with neighbouring towns in 1953 as Metro Toronto. In 1998 it amalgamated as the City of Toronto with much great development since then. <\/p>\n\n\n\n

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\"City<\/figure>\n\n\n\n
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Known as the \u2018city of neighbourhoods\u2019 Toronto has more than 240 neighbourhoods across six local boroughs: : East York, Etobicoke, North York, Old Toronto, Scarborough, and York. <\/p>\n\n\n\n

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Common Questions Immigrants Ask About Living in Toronto<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/h2>\n\n\n\n
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How Many People Live in Toronto, Ontario?<\/h3>\n\n\n\n
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The population of the City of Toronto topped 3.3 million in 2026. The Greater Toronto Area (GTA) population is approximately 6.55 million.<\/p>\n<\/div>\n\n\n\n

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What is the Greater Toronto Area (GTA)?<\/h3>\n\n\n\n
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The GTA includes the City of Toronto and four regional municipalities:<\/p>\n\n\n\n

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Halton Region includes:<\/strong> Burlington, Oakville, Milton, and Halton Hills.<\/p>\n\n\n\n

Peel Region includes:<\/strong> Brampton, Mississauga, and Caledon.<\/p>\n\n\n\n

York Region includes: <\/strong>Aurora, East Gwillimbury, Georgina, King, Markham, Newmarket, Richmond Hill, Vaughn, and Whitchurch-Stouffville<\/p>\n\n\n\n

Durham Region includes: <\/strong>Pickering, Ajax, Whitby, Oshawa, Clarington, Uxbridge, Scugog, and Brock.<\/p>\n\n\n\n

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Greater Toronto Area Map<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n
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What are the Advantages and Disadvantages of Living in Toronto?<\/h3>\n\n\n\n
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Toronto, a multicultural city with world-class amenities including education and healthcare, provides ample opportunities for career advancement. However, the high cost of living and traffic congestion might deter those who prefer a slower pace or smaller community.<\/p>\n\n\n\n

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Is Toronto a Good Location for Immigrants?<\/h3>\n\n\n\n
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Toronto is the most diverse city in Canada with a strong support system for newcomers, including settlement services. You will have access to resources, local ethnic communities, and services to ease your transition to Canada. This makes it an ideal city for newcomers.<\/p>\n\n\n\n

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Is Moving to Toronto Worth it?<\/h3>\n\n\n\n
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It’s expensive to live in Toronto. But it offers more job opportunities than other cities. It is an ideal location for career-focused individuals. There are many business opportunities, and the city is economically stable. However, you have to earn a high salary to live comfortably.<\/p>\n\n\n\n

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Toronto is Canada’s business and financial capital.<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n
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How to Find a Job & Build a Career in Toronto<\/strong><\/strong><\/strong><\/h2>\n\n\n\n
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The Local Economy<\/h3>\n\n\n\n
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Toronto\u2019s diverse economy offers business and professional opportunities in everything from technology to green energy, film, retail, and financial services. It is Canada’s business and financial capital and the second-largest financial services centre in North America.<\/p>\n\n\n\n

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Toronto-based businesses export over $70 billion in goods and services to every corner of the globe with retail sales of $62 billion annually. The city\u2019s economy relies on innovation and new ideas to create economic wealth. <\/p>\n\n\n\n

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Key industries are:<\/strong><\/p>\n\n\n\n

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