You’re not ready to buy a home yet. Or maybe you prefer to rent. Whatever the case, do you have an idea of just how much you have to shell out (approximately) each month to live in that upscale downtown Toronto neighbourhood, or that quiet suburban neighbourhood in Ajax?

TorontoRentals.com, one of Canada's largest apartment rental sites, has released a new report in the form of an infographic showing rental and living cost for Toronto and the GTA, giving renters a community comparison, and hopefully helping them to find the best community based on their lifestyle and budget.

"We know there are many factors that go into choosing which community to call home," said Michelle Holdem, Web Operations Manager of TorontoRentals.com. "Job opportunities and amenities such as entertainment, cultural activities and recreation all play a factor but we know people are working on a budget too. TorontoRentals created this Neighbourhood-to-Neighbourhood cost comparison to make the choice clearer and easier for those searching for a new rental property."

The infographic lays out detailed information regarding cost of living. It breaks down various comparisons of gas & commute time, public transit costs, rental prices, monthly income for rent and floor plans between Toronto Neighbourhoods.

As part of the research and report, TorontoRentals conducted a rental survey comparing one-bedroom apartments in the Toronto area:

  • Toronto - $1,201/mo
  • Mississauga - $1,149
  • Markham - $1,077
  • Richmond Hill - $1,150
  • Oakville - $1,124
  • Vaughan - $1,081
  • Pickering/Ajax - $900
  • Brampton - $1,041

Commuting costs are also shared from neighboring communities to Toronto. For instance, a trip from Markham to Toronto costs $8 a day or $175 per month by truck. Cars cost less at $5 a day or $100 per month. The infographic also outlines the cost of travel via public transportation.

The info graphic can be viewed at www.torontorentals.com/blog/rent-and-living-comparison-in-toronto-gta

If you want to check out new listings in the GTA, feel free to visit TorontoRentals.com