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Here's what you have to earn per hour to afford living in Toronto right now

Interest rates have eased, the pace of inflation is slowing (though prices are still on the rise), real estate values are plunging, and rent prices are lower than they've been in years.But, it's still nowhere near cheap to live in Toronto, and many people's salaries just aren't keeping up with how the price of goods, services and housing have escalated over the last five years.To float the typical home in the GTA, one needs to rake in more than a staggering $204,000 per year to cover the necessary monthly payments. And, even if you're not locked into an account-draining mortgage, you still have to bring home a hefty sum of cash to afford the average apartment.A new report from researchers at the Canadian Centre for Policy Alternatives (CCPA) estimates that to comfortably cover a one-bedroom unit in Toronto and still have enough left over to fund basic life expenses, one must earn at least $37.66 per hour — more than two times t...


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