dslreports logo
 
    All Forums Hot Topics Gallery
spc
Search similar:


uniqs
543
bt
join:2009-02-26
canada

bt

Member

Cost of living in MTL?

I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.

Mike2009
join:2009-01-13
Ottawa, ON

Mike2009

Member

Depends where and how well you want to live.
bt
join:2009-02-26
canada

bt

Member

I guess somewhere with a reasonable (non-driving) commute to McGill. As for how well, "survive", so not wanting for the basics.
kenze
join:2009-10-09
Montreal, QC

kenze to bt

Member

to bt
About 1500 $ per month for 2 people.

600-700 on rent, this includes utilities

400-500 on food minimum to eat well.

125 for internet and 2 cellphone bills

Transportation will cost anywhere from 90 to 155 per month for both

Another 100 on misc expenses.

milnoc
join:2001-03-05
Ottawa

milnoc

Member

Sounds about right, although I believe the rent estimate would be for a studio apartment in the McGill Ghetto. A 1 bedroom apartment (a.k.a. a "3 1/2") would cost more.

horsey
@eastlink.ca

horsey to bt

Anon

to bt
said by bt:

I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.

More info?
If we are talking 2 people on minuim wage NO.
If one person is talking home 42 K Yes.
It is hard to live in a world class city and not be able to afford all it has to offer.

Guspaz
Guspaz
MVM
join:2001-11-05
Montreal, QC

Guspaz to bt

MVM

to bt
First, let me define how Montreal measures apartment sizes:

One and a half: Single-room apartment, very small. Might be called studio elsewhere.
Two and a half: Normally a single-room apartment with an alcove for the bed.
Three and a half: One bedroom apartment
Four and a half: Two bedroom apartment
Five and a half: Three bedroom apartment
etc.

Rent will always be highest close to any metro station, but rent will still be much cheaper outside the downtown core, even close to a metro station.

My building, which is "downtown" (five minute walk from Concordia) charges $895 - $975 for a two and a half (366 sqft, AC/heat/electric/appliances incl.), although I'm only paying a bit over $800 due to living here a while. For two people, you would probably want at least a three and a half, which in this building is $995 - $1095 per month. I'd consider my building to be an upper midrange building. It's not fancy, but it's relatively modern and well managed, with a security guard in the lobby at night. There's a nicer building around the corner, for example, that charges 200-300 more for a three and a half than my building.

If you want to save cash, live outside downtown and commute by public transit (like metro). If you're in NDG or something you can get a five and a half for less than I pay for my two and a half.

Public transit pass (no commuter train) is $77 per person. They're tax deductible.

For food, I have no real idea how much it costs if you make your own food (I don't cook), but $400 a month for two people is an average of $2.23 per meal, which seems a bit low.

Consumer goods and services are probably similar to anywhere else (what with the internet and large chains normalizing pricing and all). I mean, you're going to have all the normal expenses you'd expect beyond those kenze listed.

$125 is cutting it close for telecom bills. Presumably no TV service. Cable internet will save you money because of no dry loop fees; $40 gets you 8 meg cable with a 300GB cap. Assuming you don't need a telephone line due to cellphones, you're looking at maybe $35 each on a cellphone. You're not going to be using smartphones for that price, $40 is sort of where that starts.

If $42k is your pre-tax income, you're going to have trouble. If $42k is your combined after-tax income, you should be fine.
dragonfly5
join:2012-09-04

dragonfly5 to bt

Member

to bt
Live in Verdun or NDG/CDN. Close to downtown, low rents ($750 for a 2bdrm).

$42k/yr is about $2100/mo. You can swing it for sure.

milnoc
join:2001-03-05
Ottawa

milnoc to Guspaz

Member

to Guspaz
$125 for the telecom bills can work if you skip the cable TV and just get a Netflix subscription.

Also Guspaz, you forgot the 30% surcharge payment to the Montreal Mafia.
bt
join:2009-02-26
canada

bt to horsey

Member

to horsey
said by horsey :

said by bt:

I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.

More info?
If we are talking 2 people on minuim wage NO.
If one person is talking home 42 K Yes.
It is hard to live in a world class city and not be able to afford all it has to offer.

2 people, single income. $42k is pre-tax, not take home.

It's also a move to Canada, not just to Montreal, so we can count out relying on any government services that require you to be Canadian.

ekster
Hi there
Premium Member
join:2010-07-16
Sainte-Anne-De-Bellevue, QC

ekster to Guspaz

Premium Member

to Guspaz
$400 for food for two is fine. We spend between $200-500 a month, and we tend to buy pricier and healthier food.

Rent depends on location A LOT. I know some people who rent a 4 and a half, heating included, for $700 in Lasalle, close to metro and plenty of buses. I also know people who pay a $1000 for a 2 and a half downtown.

Living on $40k gross for two is reasonable. There won't be too much room for spoiling themselves, but it still can sustain a reasonable lifestyle with a few sacrifices.
MaynardKrebs
We did it. We heaved Steve. Yipee.
Premium Member
join:2009-06-17

MaynardKrebs to bt

Premium Member

to bt
said by bt:

I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.

After-tax, it's enough.
Pre-tax, it depends.

Guspaz
Guspaz
MVM
join:2001-11-05
Montreal, QC

Guspaz to bt

MVM

to bt
Well, if that is going to count for taxation purposes as $21k/yr per person, at least there won't be much tax to pay. Still, $42k pre-tax living with two people in Montreal is going to be very student-living.

donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo to MaynardKrebs

Premium Member

to MaynardKrebs
said by MaynardKrebs:

said by bt:

I've got a friend asking if $42k/yr is enough to survive on for 2 people in Montreal. Since I'm not that up to date on cost of living in Montreal, I figured I'd ask the Montrealers here.

After-tax, it's enough.
Pre-tax, it depends.

After Tax in Quebec leaves...12K?

ekster
Hi there
Premium Member
join:2010-07-16
Sainte-Anne-De-Bellevue, QC

ekster

Premium Member

Two people living together with a 40k income will most probably get back all the taxes they've paid.
shepd
join:2004-01-17
Kitchener, ON

shepd to bt

Member

to bt
They'd get back two personal amounts ($20k total) + they would possibly receive GST cheques. Also, there's a high chance of getting apartment taxes back.

Total income taxes paid would be something like $1500-$2000, from my experience.

Guspaz
Guspaz
MVM
join:2001-11-05
Montreal, QC

Guspaz

MVM

said by shepd:

They'd get back two personal amounts ($20k total) + they would possibly receive GST cheques. Also, there's a high chance of getting apartment taxes back.

Total income taxes paid would be something like $1500-$2000, from my experience.

Isn't your experience from a different province with different tax laws and rates? Quebec pays far more income tax than Ontario, and apartment tax credits are now built into the Solidarity Credit.

Ontario pays roughly 5% on the lowest tax bracket. Quebec pays roughly 16%.

Assuming no other tax credits (which will give us a worst case), I calculate it as:

$42k total
$21k per person
$21k - $10,822 = $10,178 (Federal taxable amount)
$21k - $10,925 = $10,075 (Provincial taxable amount)
$10,178 * %15 = $1,526.70 (Federal payable tax)
$10,075 * %16 = $1,612.00 (Provincial payable tax)
$1,526.70 + $1,612.00 = $3,138.70 (Total payable tax per person)
$3,138.70 * 2 = $6,277.4 (total payable)

So, you say $1,500 to $2,000, I say $6,277.4 assuming zero tax credits. Obviously that will go down after credits, but I doubt it'd go down to $1500-2000...
bt
join:2009-02-26
canada

bt

Member

said by Guspaz:

Assuming no other tax credits (which will give us a worst case)

There's also the potential for taxable benefits which would make it go the other way, though they could wash with the credits.

donoreo
Premium Member
join:2002-05-30
North York, ON

donoreo to Guspaz

Premium Member

to Guspaz
I remember working with a guy who had just moved to Ontario from Quebec. He thought there was a mistake on his pay because there were so few deductions.

Guspaz
Guspaz
MVM
join:2001-11-05
Montreal, QC

Guspaz to bt

MVM

to bt
Yeah, my calculations don't include the source deductions for QPP, EI, or health insurance (assuming they have a health insurance plan).