These 4 Ontario Cities Were Named Some Of The Least Affordable Cities In The Continent

Anyone living in Toronto has come to know all too well just how expensive it is, but what if we told you a different city in the GTA actually beat out the 6ix for how unaffordable it is to live there (in not only the country but across the whole continent too)?

A new study from PolicyAdvisor, a Canadian insurance provider, revealed that Mississauga is the least affordable place in Canada and it even beats out some major U.S. cities like Los Angeles and Chicago. Yikes.

The study looked at the 10 most populated cities in Canada and the U.S. and determined which spots were the most expensive by factoring in the average cost of the following eight things: a movie ticket, a cappuccino, a bottle of water, a meal out, a one-month gym membership, a one-way and a monthly ticket on public transportation, and lastly, one month's rent.

After adding in the cost of all of these items and weighing in the percentage of the average monthly salary in the city, the study named Mississauga as the most unaffordable city in Canada with New York City, of course, reigning supreme over all.

According to the study, anyone living in Mississauga spends more than half of their monthly income to live there, with the cost of public transit and their lower-than-average salary being a couple of the biggest factors for its high cost of living.

"This data contains some surprising results, as even though some major cities in North America might be perceived as having lower living costs — when factoring in the average salary in the area, it's not as clear cut," a spokesperson for PolicyAdvisor said.

So, where did Toronto rank? Well, Hamilton actually beat out the 6ix and placed fourth due to its low monthly salary, and Toronto squeezed by in fifth place for its pricy monthly transit costs.

Here are the top 10 most expensive cities in Canada and the U.S. to live in based on the percentage of residents' monthly income spent on the cost of living:

1. New York City, 57.6%
2. Mississauga, 56.4%
3. Vancouver, 50%
4. Hamilton, 47%
5. Toronto, 46.7%
6. Los Angeles, 46.6%
7. San Diego, 45.7%
8. Chicago, 44.6%
9. Ottawa, 44%
10. Montreal, 43.5%