Toronto is the top destination for newcomers who wish to settle in Canada. It is not surprising that Toronto is Canada’s largest and one of the most diverse cities. If you are wondering what it would be like to live in Toronto, then this blog is for you! This blog covers what to know about living in Toronto, Ontario. So, without further ado, let us begin!

About Toronto, Ontario 

Toronto is the financial capital of Canada. About 40% of Canada’s business headquarters, including the country’s largest banks, are here. Toronto is the capital of the Province of Ontario and is located on the north shore of Lake Ontario. 

It was established in 1750 as Fort Rouille. It was further established as York in 1793 and incorporated as Toronto in 1834. The city amalgamated with neighboring towns in 1953 as Metro Toronto. It wasn’t until the year 1998 that it came to be known as the City of Toronto. 

How Many People Reside In Toronto, Ontario? 

The first thing to know about living in Toronto, Ontario, is its population. 

Toronto has a population of 2.8 million. It is the most populated city in Canada, with a density of 4,334. 2 people per square km. 47% of individuals who live in Toronto are members of a visible minority, thus making it the most diverse city in the country. Also, it is estimated that half of the population are immigrants. 

The Greater Toronto Area’s population is much larger, at 6.4 million, and the area/ region is growing. The city expects to add another one million residents in 25 years. 

Toronto’s Local Economy 

Toronto’s diverse economy keeps on creating unlimited business and professional opportunities. Its presence is in everything from technology to green energy, film, retail, and financial services. It is the second-largest financial services center in North America. 

Toronto-based businesses export around $70 billion in goods and services, with retail sales of around $62 billion every year. Moreover, the city’s economy relies on innovation as well as new ideas to create economic wealth. 

Toronto’s key industries include: 

  • Aerospace
  • Design
  • Film
  • Food and Beverage
  • Fashion
  • Green Energy
  • Financial services
  • Education
  • Biotechnology and Life Sciences 
  • Tourism 
  • Information and Communications and Technology 

Career Pathways In Toronto 

Approximately over 35% of jobs are there in downtown Toronto across all sectors, including technology, finance, service, and retail. Toronto is North America’s fastest-growing tech market, offering various career opportunities. 

As the city has a vibrant and thriving tourism industry, there is no dearth of jobs in consumer service and hospitality. The wages here are higher than everywhere else in Canada, and so is the cost of living. 

You can also get help with your job search by working with local recruitment agencies, like Randstad Canada, Boost Agents, Motion Recruitment, etc. 

Is Housing Expensive In Toronto, Ontario? 

The next thing to know about living in Toronto, Ontario, is accommodation costs. 

According to Mercer Canada, Toronto was the second-most expensive city in Canada in 2021. In addition, housing prices continue to climb and the median cost to rent a condo or apartment is over $2,000 per month. 

So, while many newcomers wish to live in Toronto for convenience and lifestyle, it comes with higher home purchase as well as rental prices.

Living further from the downtown core implies that you will be able to afford a larger home in a quieter setting. However, if you work downtown, your daily commute will be longer. 

Driving In Toronto, Ontario 

Toronto has one of the busiest roadways in North America. It is the primary hub for rail, road, and air transportation in the province. It also has an extensive highway system, with over 400,000 vehicles per day using Highway 401 alone. All in all, there are around 2.5 million daily commuters. Toronto itself has around 10,000 streets. 

There are six significant highways: 

  • Queen Elizabeth Way/Gardiner Expressway: It is the major east-west highway south of Toronto
  • Highway 401: It is the major east-west highway north of the city
  • Highway 407: This is another significant east-west highway on the north. However, you need to pay a toll for this highway
  • Don Valley Parkway/Highway 404: It is the major north-south highway east of downtown Toronto
  • Highway 427: It is North-south highway on the west of the city
  • Highway 400: Again, it is North-south highway on the west of the city

Drivers have to learn how to drive on busy highways, manage high-traffic volumes, and drive during winter conditions. You can also start the graduated licensing process when you turn 16. 

Language Support In Toronto, Ontario 

Toronto is a mosaic of languages, with more than 150 languages spoken every day. Just over 30% of Toronto residents speak a language other than English/ French at home, and hundreds of ethnocultural organizations—including professional associations and community centers—operate in the city. 

Toronto’s Education System 

In order to study in Canada, one should consider Toronto to be the top destination. The city of Toronto provides many education options, from daycare to public, catholic, bilingual, private, and religious schools. 

It also has many post-secondary schools, including three universities and five colleges, that provide training for almost every profession and skill. 

Post-Secondary Institutions 

Toronto is a Canadian leader in terms of post-secondary schools as well as graduates, with over 15,000 medical/ biotech researchers, 2 top-ranked MBA schools, and excellent programs in computer science, multimedia, and engineering.  

Universities include Ryerson University, York University, the University of Toronto, and OCAD University. Colleges include Centennial College, Humber College, Seneca College, and George Brown College. In addition, it is vital to note that Northeastern University Toronto is a private institution. 

Conclusion 

When considering what to know about living in Toronto, Ontario, it’s vital to understand that Toronto grants an urban experience with diverse cultures, world-class dining, as well as excellent public transit. As Canada’s largest city, it is a hub for business, education, and entertainment, attracting professionals and students from around the world. 

The city also has access to numerous parks, waterfront areas, and cultural festivals year-round. While the cost of living can be high, the opportunities for career growth, education, and cultural enrichment make Toronto a dynamic and exciting place to call home.

If you seek information on how to begin your Canada immigration application process, you can talk to our NavaImmigration experts at 1800-918-8490, or you can drop us an email at [email protected].