What is the cost of living in Peterborough?The phrase “cost of living” refers to your family’s basic living expenses. This can include the cost of rent or mortgage payments for your home, utilities (services such as water, heat and electricity), telephone, television, Internet, transportation, clothing and food. The cost of living in Peterborough is generally lower than in other Ontario cities. It also varies depending on your type of home and the essential services that you would like to receive.
What you can afford depends on your income. Learn about the local job market and employment strategies for new immigrants to estimate your income. Income taxes and other pay deductions can take up to 35% off your pay cheque.
Tracking your monthly expenses is an important part of managing your money. It helps you avoid spending more than you earn. You can use the Monthly Budget Tracker [PDF] to develop a budget. Remember that costs are different in different cities.
For information on the cost of living in Peterborough please refer to the community profile document created by the Greater Peterborough Area Economic Development Corporation.
Here, we give you an idea of what some monthly costs could be. Your monthly expenses will depend on where you live and the choices you make.
Renting - Rental amounts vary but the average monthly rent for:-a one-bedroom apartment was $803 in 2014
-a two-bedroom apartment was $952 in 2014
Buying - The average detached house price in 2014 was $320,000.
Compare Peterborough to other cities on the Canadian Mortgage and Housing Corporation (CMHC) website.
An adult monthly bus pass is $60, while a single ride costs $2.50. Find a complete list of fares on the Peterborough Transit website
The transportation section of this website provides information on the costs of owning a car.
The cost of heat, water and electricity varies greatly depending on the location, size and age of your home as well as individual-usage habits. If you know the address where you intend to live, the Peterborough Utilities Group website allows you to determine the average monthly cost for utilities. You can also contact the Peterborough Utilities Group, Hydro One or Enbridge to find out the average monthly cost of water, electricity or gas.
Internet – on average $22-$32 for basic service; contact one of the local internet providers for details on prices and packages available
Telephone – on average $22-$32 for basic, regular (local) service; contact one of the local telephone providers for details on prices and packages available
Television – on average $32-$42 for basic cable service; contact one of the local television providers for details on prices and packages available
Other expenses to consider:
- Child care
- Recreational activities
- Health care costs not covered by OHIP
- Pet costs (veterinary care, food, general care)