Newark vs Toronto
Cost of Living Comparison · 2026
Newark
Toronto
The Verdict
The cost gap between these cities is 30.1%, with Toronto being the more affordable option. A $75,000 income in Newark has equivalent purchasing power to $57,645 in Toronto.
Category-by-Category Breakdown
Index values · National average = 100 · Lower is more affordable
Salary Equivalence
A $75,000 salary in Newark has the same purchasing power as $57,645 in Toronto.
Conversely, $75,000 in Toronto equals $97,581 in Newark.
Living in Newark vs Toronto
Housing Costs
Newark's housing index of 149 is higher Toronto's 132, translating to median home prices of $340,000 vs $615,000. The $275,000 difference in home prices means roughly $17,880 per year in additional mortgage costs at current rates. Renters face a similar gap: $1,400/mo in Newark compared to $1,825/mo in Toronto, a monthly difference of $425.
Grocery & Food Costs
Grocery expenses index at 103 in Newark and 88 in Toronto. A household spending the national average of $475/month on groceries would pay approximately $489/month in Newark vs $418/month in Toronto. Toronto offers a meaningful advantage on everyday food costs, saving roughly $852/year.
Utility Expenses
Utility costs — electricity, gas, water, internet — index at 118 in Newark and 85 in Toronto. Monthly utility bills average approximately $472 in Newark vs $340 in Toronto. Climate differences between the two cities drive much of this gap, with heating and cooling costs varying substantially by region.
Healthcare
Healthcare costs index at 105 in Newark and 72 in Toronto. This encompasses insurance premiums, doctor visit copays, dental care, and prescription costs. The 33-point gap reflects real differences in provider costs, insurance market competition, and regional healthcare infrastructure.
Income & Purchasing Power
Median household income is $40,014 in Newark and $55,000 in Toronto. After adjusting for local costs, purchasing-power-equivalent incomes are approximately $33,069 and $59,140 respectively. Toronto residents come out ahead in real purchasing power.
Relocation Considerations
Under the standard 28% rule, a median-income household can allocate $934/month to housing in Newark vs $1,283/month in Toronto. In Newark, median rent of $1,400/mo exceeds this threshold, suggesting renters may feel stretched. In Toronto, median rent of $1,825/mo pushes past the recommended limit. The biggest category-level difference between these two cities is Utilities, where the gap is 33 index points — focus your budget analysis there.
Frequently Asked Questions
Moving & Relocation Resources
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