The Toronto-to-Calgary migration has been one of Canada’s defining demographic trends since 2020. Driven almost entirely by housing affordability, tens of thousands of families have made the move west — trading Bay Street proximity for mountain views and mortgage payments they can actually afford. Here is the full comparison.
Housing Market Snapshot (2026)
| Metric | Calgary | Toronto |
|---|---|---|
| Average home price (all types) | $550,000–$600,000 | $1,050,000–$1,100,000 |
| Average detached house | $650,000–$750,000 | $1,450,000–$1,550,000 |
| Average condo | $300,000–$370,000 | $650,000–$700,000 |
| Average townhouse | $400,000–$480,000 | $850,000–$950,000 |
| Price per square foot (condo) | $350–$450 | $850–$1,100 |
| Year-over-year price change | +5–8% | +1–3% |
| Months of inventory | 2–3 months | 2–4 months |
| Average days on market | 20–30 | 20–35 |
Mortgage Affordability Comparison
| Metric | Calgary ($575,000 home) | Toronto ($1,100,000 home) |
|---|---|---|
| Minimum down payment | $28,750 (5%) | $85,000 (5% on first $500K + 10% on $600K) |
| CMHC insurance | $21,850 (4.0%) | $40,600 (4.0%) |
| Mortgage amount | $568,100 | $1,055,600 |
| Monthly payment (5.2%, 25-yr) | ~$3,375 | ~$6,275 |
| Household income needed (stress test) | ~$100,000 | ~$190,000 |
| Property tax (annual) | ~$3,800–$4,500 | ~$6,000–$8,000 |
| Land transfer tax | $0 | ~$36,950 (Ontario LTT + Toronto municipal LTT) |
| Total closing costs | ~$5,000–$8,000 | ~$45,000–$55,000 |
Key takeaway: The same household income that leaves you house-poor in Toronto buys a comfortable family home in Calgary — with $30,000+ less cash needed upfront.
What a $600,000 Budget Buys You
| Property Type | Calgary | Toronto |
|---|---|---|
| Detached house | 3–4 bed, 2-car garage, backyard, 1,800–2,400 sq ft, newer community | Not available at this price |
| Townhouse | 3-bed, attached garage, 1,400–1,800 sq ft | Small 2-bed in outer suburbs (Scarborough, Etobicoke) |
| Condo | 2-bed, 900–1,200 sq ft, downtown or beltline | 1-bed, 550–650 sq ft, downtown or midtown |
Tax Comparison
| Tax | Calgary (Alberta) | Toronto (Ontario) |
|---|---|---|
| Provincial income tax (top rate) | 15% (above $355K) | 13.16% (above $220K) |
| Combined income tax ($100K, effective) | ~28% | ~28% |
| Provincial sales tax | 0% (no PST) | 8% HST provincial portion |
| Land transfer tax | None | Ontario LTT + Toronto municipal LTT |
| Property tax rate | ~0.65–0.75% of assessed value | ~0.60–0.70% of assessed value |
| Overall tax advantage | Lower total tax burden at most income levels due to no PST | Slightly lower income tax on moderate incomes; much higher transaction taxes |
No PST savings: On $50,000/year in taxable purchases, a Calgary family saves ~$4,000 annually vs. Toronto’s 8% HST provincial portion. Over a decade, that’s $40,000.
Cost of Living Beyond Housing
| Category | Calgary | Toronto | Winner |
|---|---|---|---|
| Groceries | $350–$450/month (couple) | $375–$475/month (couple) | Roughly equal |
| Dining out | Moderate | Higher prices especially downtown | Calgary |
| Public transit (monthly) | $126.00 (Calgary Transit) | $155.10 (TTC monthly fare cap) | Calgary |
| Gas (per litre) | $1.40–$1.55 | $1.55–$1.75 | Calgary |
| Auto insurance | $1,500–$2,200/year | $2,000–$3,000/year | Calgary |
| Home insurance | $1,200–$1,800/year | $1,200–$1,800/year | Roughly equal |
| Utilities | $200–$300/month | $200–$350/month | Calgary slightly |
| Daycare | $1,000–$1,500/month | $1,500–$2,500/month | Calgary |
Job Market
| Sector | Calgary | Toronto |
|---|---|---|
| Energy (oil & gas) | Dominant — HQs, engineering, services, clean energy transition | Minor — some trading desks |
| Finance & banking | Moderate — energy finance, investment firms | Dominant — Bay Street, all Big 5 bank HQs, insurance, asset management |
| Technology | Growing rapidly — fintech, AI, cleantech | Very strong — Shopify, Google, Amazon, Microsoft, startup ecosystem |
| Film & media | Growing — $1B+ production spending | Very strong — media HQs, TIFF, advertising, digital media |
| Professional services | Strong — engineering, accounting, legal (energy-focused) | Very strong — Big 4, law firms, consulting, all sectors |
| Construction & real estate | Strong — residential and infrastructure growth | Strong — Canada’s largest development market |
| Healthcare | Strong — Alberta Health Services, research | Strong — UHN, SickKids, research hospitals |
| Average household income | ~$100,000–$115,000 | ~$95,000–$110,000 |
| Unemployment rate | 6.0–7.0% | 6.0–7.0% |
Neighbourhoods for Homebuyers
Calgary — Best Neighbourhoods by Buyer Type
The best neighbourhoods in Calgary page compares Calgary neighbourhoods by price, commute and the kind of buyer each suits.
Toronto — Best Neighbourhoods by Buyer Type
The best neighbourhoods in Toronto page compares Toronto neighbourhoods by price, commute and the kind of buyer each suits.
Lifestyle Comparison
| Factor | Calgary | Toronto |
|---|---|---|
| Outdoor access | Rocky Mountains 1 hour; Banff, Canmore, Kananaskis | Muskoka/cottage country 2–3 hours; Scarborough Bluffs, waterfront trail |
| Winter | Cold (avg. January: -8°C) but SUNNY — 333 days of sun/year; chinook warm spells | Cold (avg. January: -5°C), grey, windy near lake |
| Summer | Warm, dry, long days; Stampede | Hot, humid; extensive festival season (TIFF, Caribana, etc.) |
| Cultural scene | Stampede, National Music Centre, Glenbow; growing arts scene | World-class — TIFF, ROM, AGO, Mirvish theatre, extremely diverse cultural scene |
| Food scene | Good and improving; steakhouses, craft beer, growing diversity | Exceptional — global cuisines, street food, Michelin-recognized, massive diversity |
| Nightlife | Moderate — concentrated downtown/17th Ave area | Extensive — King West, Queen West, Entertainment District, diverse options |
| Sports | Flames (NHL), Stampeders (CFL), Roughnecks (NLL), new arena coming | Maple Leafs, Raptors, Blue Jays, TFC, Argos — all major leagues |
| Walkability | Car-dependent; improving with LRT expansion | Walkable downtown; car-dependent suburbs |
| Transit | Calgary Transit (C-Train LRT + bus); Green Line under construction | TTC (subway, bus, streetcar); GO Transit regional; better but more expensive |
| Diversity | Growing — Filipino, South Asian, Chinese, African communities | One of the most diverse cities globally — 200+ ethnic groups |
Family Considerations
| Factor | Calgary | Toronto | Winner |
|---|---|---|---|
| Family home (3-bed) | $450,000–$750,000 | $900,000–$1,400,000 | Calgary |
| Backyard / garage standard | Yes (most family homes) | Rare unless $1M+ | Calgary |
| School quality | Strong public and Catholic system | Strong; varies by neighbourhood | Roughly equal |
| Daycare cost | $1,000–$1,500/month | $1,500–$2,500/month | Calgary |
| University proximity | U of C, Mount Royal, SAIT | U of T, York, TMU, many colleges | Toronto (more options) |
| Commute time | 25–35 min average | 35–50 min average | Calgary |
| Child safety / crime | Low suburban crime; safe communities | Low overall; higher property crime downtown | Calgary slightly |
Real Estate Investment Potential
| Factor | Calgary | Toronto |
|---|---|---|
| Cap rate (rental properties) | 4.5–6.0% | 2.5–3.5% |
| Rental vacancy rate | 1.5–3.0% | 1.5–3.0% |
| Average 1-bed rent | $1,500–$1,800 | $2,200–$2,600 |
| Average 2-bed rent | $1,900–$2,300 | $2,800–$3,400 |
| 10-year appreciation (avg. annual) | 4–6% | 6–8% |
| Population growth | Very strong (interprovincial + immigration) | Strong (immigration-driven) |
| Investment entry point | ~$300K condo / ~$450K townhouse | ~$650K condo / ~$850K townhouse |
| Rent control | None (Alberta) | Buildings occupied before Nov 15, 2018 only |
The Migration Math: Selling in Toronto → Buying in Calgary
| Scenario | Numbers |
|---|---|
| Sell Toronto condo | $680,000 (2-bed, 750 sq ft) |
| Remaining mortgage | -$400,000 |
| Selling costs (agent + legal) | -$35,000 |
| Net proceeds | $245,000 |
| Buy Calgary detached home | $650,000 (4-bed, 2-car garage, 2,200 sq ft) |
| Down payment (20%) | -$130,000 |
| Land transfer tax | $0 |
| Closing costs | -$5,000 |
| Cash remaining | ~$110,000 |
| Monthly mortgage payment (Calgary) | ~$3,100 |
| Previous monthly payment (Toronto condo) | ~$2,400 + $600 condo fees = ~$3,000 |
Result: More space, a backyard, a garage, and $110,000 in savings — with roughly the same monthly payment. This is the math driving the migration.
Making the Decision
| You might prefer Calgary if… | You might prefer Toronto if… |
|---|---|
| Affordability and financial breathing room are your priority | You value the largest, most diverse job market in Canada |
| You want a detached home with a yard and garage | Your career is in finance, media, or advertising |
| You work in energy, engineering, or construction | You thrive in a fast-paced, globally connected city |
| You love sunshine and outdoor access to the Rockies | You want world-class dining, arts, and sports (all major leagues) |
| You’re building a rental portfolio (higher cap rates, lower entry) | You value ethnic diversity and a cosmopolitan social scene |
| You have young children (lower daycare costs, more space) | You prefer to avoid cold winters (Toronto is milder) |
| You want no PST and no land transfer tax | You want extensive public transit and walkable downtown living |
Impact on Your Mortgage
| Factor | Calgary | Toronto |
|---|---|---|
| Income needed to qualify | ~$100,000 | ~$190,000 |
| Down payment | $28,750 (5% on $575K) | $85,000 (on $1.1M) |
| Land transfer tax | $0 | ~$36,950 |
| First-time buyer incentives | Federal (HBP, FHSA); no LTT to rebate | Federal + Ontario LTT rebate ($4,000) + Toronto municipal LTT rebate ($4,475) |
| Stress test | Easier — lower purchase prices | Harder — debt ratios stretched |
| Total upfront cash needed | ~$35,000–$40,000 | ~$130,000–$145,000 |
Related Resources
Sources
The figures and rules on this page come from these sources, last checked against them on September 24, 2026. How we check facts.
- Calgary Transit: Calgary Transit fares changing for 2026
- TTC: Fares and passes