Cost of Living in Toronto, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
65.0
100 = national avg
-35.0 vs national average
Living Wage (1 Adult)
$28,620
per year
Living Wage (Family of 4)
$67,648
per year
Cost Index by Category
Housing35.1
Food83.1
Transportation93.5
Healthcare86.5
Utilities76.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$729
per month
2 Bedroom
$956
per month
The overall cost of living index in Toronto is 65.0, which is 35.0% below the national average. Housing costs are below the national average at an index of 35.1. A single adult needs to earn approximately $28,620 per year to cover basic expenses.