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It's definitely a factor.  It was a helluva shock, actually, when I moved from London to Toronto. 

 

Accommodation is the real killer expense.

 

In London was spending about $1000/month for a bright, 1200 square foot two bedroom with a view of the university (to tell the time I'd just look out the window at the Middlesex College clock tower).    I moved into a 625 square foot shoebox with no view and paid $1600/month for the privilege.  (That's rent, not a mortgage payment.  I thought the Toronto real estate market was in a bubble five years ago, and I'm astounded at what's happened since). 

 

Could have gotten more space or spent less money had I moved a little farther from the downtown.  But I chose to live very close to the downtown hospitals, trading money for time.  Had I wanted the same square footage in Toronto as I had in London, I would have been looking at $2500/month easily, and that's hard to swallow when you're only netting about $3300/month including call stipends as a PGY-1.

 

Life gets a little more liveable after internship year as you climb the salary grid.  I grossed $8500 more as an R2 than as an R1, and $5000 more each of my R3 and R4 years, and you will likely get a couple of big tax refunds because of your tuition credits.

 

On the other hand, some people really like the city (I don't).  The education is certainly exceptional and the opportunities are unparalleled.  But it's an expensive place to live.

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Can anybody ballpark what you should expect to pay in rent in Toronto, if you don't mind living a bit further out but don't want to live with a roommate?

Living within the core is an easy 14-1600$ a month. If you don't mind a commute look to the outlier areas for around 1000-1400 (Cooks, Rex, Thorn)

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