Here's How Much You Need To Make To Afford Basic Life In Ontario's Most Expensive Regions
You need to make way over minimum wage.
Living in Ontario usually isn't cheap, but if you live in one of the most expensive regions in the province, it can get even worse.
Ontario Living Wage Network released a report earlier this month that revealed how much you need to be earning to afford basic life in regions all across the province.
Toronto was named the most expensive, with residents needing to make a whopping $22.08 an hour. Even with Ontario's new proposed minimum wage of $15 an hour, you would still be falling over $7 short.
Halton Region, which includes the towns of Oakville and Burlington, followed closely behind, with OLWN reporting that residents need to make $20.75 an hour.
Living wage costs "take into account a weighted average between a family of four, single parent with one child and a single adult," according to OLWN.
The hourly wage covers what residents need to afford "basic expenses" including food, clothing, shelter, child care, transportation, medical expenses, recreation and a "modest vacation."
However, if you want to afford retirement savings, debt repayment, homeownership, a big emergency fund or saving for your children's education, you're going to have to earn more since these expenses are not included in the calculation.
If you're looking to live somewhere a little cheaper, Sault Ste. Marie was the cheapest region listed at $16.20 an hour, with Thunder Bay following closely behind at $16.30.
Here are the most expensive regions listed by OLWN:
- Toronto: $22.08 an hour
- Halton Region: $20.75 an hour
- Peel Region: $19.80 an hour
- Simcoe County: $19.05 an hour
- Niagara Region: $18.90 an hour
- Northumberland County: $18.80 an hour
This article's cover image was used for illustrative purposes only.