Living in Toronto can feel like an uphill battle. No matter how hard you work and how many side hustles you pick up, getting ahead financially seems like an unattainable dream.
Maybe you've been considering leaving the 6ix but are worried you'll miss out on the incredible food, rich culture and exciting things to do.
Well, worry no more! Edmonton (yes, Edmonton — hear me out!) is emerging as Canada's new urban hotspot, combining affordability, culture and impressive amenities that rival those of Toronto and making it worth seriously considering moving across the country for.
Let's explore how the two Canadian cities compare and answer the question: Is Edmonton the new Toronto?
The affordability
Toronto is expensive. Like, really, really expensive. According to the Canadian Real Estate Association (CREA), in the second quarter of 2024, the median price for a single detached home in Toronto was $1,300,000. That's a lot of money.
Now let's take a look at Edmonton, where the median price for a detached house at the same time was $485,000 — less than half.
Toronto home prices are hard to swallow, and they continue to climb, making homeownership for the average Torontonian less and less attainable.
But let's turn back the clocks a few years to see when all this started. Toronto has always been an expensive place to live, but in the past few years, it's transitioned from a pricey location to one of the most expensive cities in the world.
In 2017, Vancouver was the most expensive city to live in in Canada, sitting at number 107 in the world, according to Mercer. Meanwhile that year, Toronto sat in the slightly more comfortable spot of 119.
The world has changed a lot since then, and as of Mercer's same ranking in 2024, Toronto is now the most expensive city in Canada and the 92nd most expensive in the world.
In 2019, the benchmark price of a house in Toronto was $762,800, according to CREA data compiled by Zoocasa, while in Edmonton it was $343,900. That means that, over the past five years, housing prices have increased by a whopping 46% in Toronto, while they've only increased 12% in Edmonton.
Something to think about!
But affordability isn't the only thing Edmonton has going for it.
This vibrant city offers a range of big-city culture and activities that not only rival those in Toronto, but often surpass them.
The food scene
Food lovers rejoice! Edmonton's culinary scene is booming, offering a diverse range of dining options that cater to all tastes.
Plus, a meal out in Edmonton won't prevent you from making rent, like it seems to in Toronto. According to Numbeo, a crowd-sourced worldwide cost of living database, the cost of a meal for two at a mid-range restaurant in Edmonton is around $85.
That same meal in Toronto will set you back $120 — over 40% more!
The proximity to nature
When Torontonians have a craving for nature, they can easily access the Toronto Islands, the Niagara Escarpment and Muskoka, but Edmonton still has Toronto easily beat in the nature category.
Edmonton is home to the North Saskatchewan River Valley, the largest stretch of urban parkland in North America.
But the real outdoor magic is thanks to Edmonton's proximity to the Canadian Rockies. A short drive will get you to nature lovers' paradises like Jasper and Banff National Parks.
Torontonians might worry about missing the beauty of Muskoka, but one look at the Columbia Icefield and those fears will melt away. The awe-inspiring glaciers and dramatic landscapes will make Ontario cottage country a fond but blurry memory.
The shopping
One great thing about Toronto is its outdoor markets. The Distillery Winter Village (formerly known as the Toronto Christmas Market) transforms the Distillery District into a winter wonderland, complete with festive lights, artisan vendors and seasonal treats. The Toronto Flower Market is a colourful oasis, offering fresh blooms and plants from local growers.
These markets, and the city's many others, provide a unique and enjoyable way to experience Toronto's diverse culture and community spirit. But for those considering a move to Edmonton, there's no need to worry — Edmonton also boasts a pretty cool market scene that captures the same energy and community feel.
The 124 Grand Market and the Old Strathcona Farmers' Market are just a couple of examples of the bustling market scene in Edmonton, where you can stroll through open-air stalls, meet local artisans and find one-of-a-kind treasures, just like in Toronto.
The main difference? In Edmonton, you might actually have some cash left over at the end of the month to treat yourself while shopping.
The music scene
Edmonton is also known for its lively cultural scene, particularly its music festivals. The Edmonton Folk Music Festival and the Interstellar Rodeo are just a few of the exciting events that draw crowds from near and far. These festivals offer an incredible lineup of local and international artists, creating a festive atmosphere.
Both Edmonton and Toronto have fantastic music scenes, but it's far more affordable to see live music in Edmonton.
Take Pink's tour this summer as an example. She's playing in both cities, delivering the same electrifying performance.
However, currently, tickets to her show at the Rogers Centre in Toronto will set you back at least $215. By contrast, you can catch the same show at Edmonton's Commonwealth Stadium for as low as $72. That's three times the price difference for the same concert experience!
The hockey
For hockey enthusiasts, both Edmonton and Toronto boast legendary NHL teams. The Edmonton Oilers, with their passionate fan base and storied history, offer an electrifying atmosphere at every game. While the Toronto Maple Leafs also have a rich legacy, the cost of attending games in Toronto can be totally prohibitive for the average sports fan.
In Edmonton, you can enjoy the thrill of live hockey without breaking the bank — and while watching a team that actually wins once in a while!
It's usually not too hard to find tickets to a regular-season Oilers game for under $100. Meanwhile, in Toronto, you'd be lucky to get a seat in the nosebleeds for under $300.
Plus, the Leafs haven't played in a Stanley Cup Final since 1967, while the Oilers are hot on the heels of their near-win this year, so Edmonton sports fans may have a longer season to enjoy — and fewer heartbreaks.
All in all, it's clear that Edmonton has a lot to offer.
From its affordability and exciting sports culture to its stunning natural beauty and thriving food scene, Edmonton is quickly becoming the go-to city for those seeking an enriching urban experience without the high costs associated with Toronto.
Whether you're considering a move or just looking for a new city to explore, Edmonton's unique blend of amenities and affordability makes it an attractive option.
So why not give Edmonton a chance? You might just find that it's the perfect place for your next adventure.
