Income
Income and jobs: London vs Toronto
Cost of living only tells half the story. The other half is what you earn. Wages in London are generally lower than in Toronto, and some fields have far fewer local openings. Whether London leaves you better off depends heavily on whether you keep a Toronto-level income.
Three scenarios
| Scenario | Income | Costs | Typical outcome |
|---|---|---|---|
| Fully remote, Toronto employer | Unchanged | Much lower housing; possibly more driving | Usually the strongest financial case |
| Hybrid, 1–2 Toronto office days | Unchanged | Lower housing, plus commuting costs and time | Often strong, if the commute is sustainable |
| New local job in London | Often lower | Lower housing; short local commute | Depends on the pay difference in your field |
How wages compare
For broad comparisons, Statistics Canada publishes income data by census metropolitan area (CMA), including median household and individual incomes, from the Census and annual surveys. For your own field, more useful sources are:
- Job Bank (Government of Canada), which publishes wage ranges by occupation and region, including London and Toronto.
- Collective agreements, for unionized roles in healthcare, education and the public sector. Many are province-wide or similar across regions.
- Job postings in your field in both cities, compared side by side.
Source: Statistics Canada, Census Profile and income tables by CMA. Look up median total household income for the London and Toronto CMAs, using the same reference year for both.
Fields where pay is similar
In several large sectors, pay in London is close to Toronto's because wages are set by province-wide or sector-wide agreements. Examples include many roles in healthcare (London is home to London Health Sciences Centre and St. Joseph's Health Care London), education (school boards, Western University, Fanshawe College), and parts of the public sector. For people in these fields, London's lower housing costs translate almost directly into savings.
Fields where the gap is bigger
Head-office corporate roles, finance, law, media, and some tech roles cluster in Toronto, with higher pay and many more openings. If you're in one of these fields, keeping a Toronto employer (remote or hybrid) is usually the key to making London work financially.
The "Toronto salary, London house" strategy
Since remote and hybrid work became common, many people have moved to London while keeping Toronto jobs. It can be the best of both worlds, but it has risks:
- Policy changes: return-to-office mandates can change your commute overnight. Get your arrangement in writing where possible, and have a plan B.
- Pay adjustments: some employers adjust pay for location. Ask before you move.
- Career visibility: fewer in-person days can affect networking and promotion. Be deliberate about it.
- Job changes: if you lose or leave the job, will you find comparable remote work, or a local role at an acceptable salary?
A stress test worth doing: before buying, ask whether you could afford the London home on the salary you'd earn in a local job in your field. If yes, the remote income is upside. If no, the move depends on your remote arrangement continuing.
The local economy
London's economy is anchored by healthcare, education, insurance and financial services, advanced manufacturing (including defence vehicle production), food processing, and a growing logistics sector. The region is also seeing major industrial investment nearby, including Volkswagen's PowerCo battery plant under construction in St. Thomas.
Dual-income households
For couples, the decision rarely depends on one job. It's common for one partner to keep a remote or hybrid Toronto role while the other finds local work in London, often in healthcare, education or the public sector, where pay is closer to Toronto levels. Start the local job search for the second earner before you sell your Toronto home, not after.
Taxes are the same
Federal and Ontario income tax rates are the same wherever you live in Ontario, so there's no income tax advantage or disadvantage to the move itself. The differences are in housing-related taxes: land transfer tax and property tax.
Your local agent
See what your budget actually buys in London
Averages only go so far. The most useful comparison is concrete: what homes like the one you want have recently sold for in the London neighbourhoods you'd consider. Rayna Elabed, a Sales Representative with CENTURY 21 First Canadian Corp., Brokerage in London, can help you look at current listings and recent sales so you can put real numbers against your Toronto costs.
Sources
- Statistics Canada, Census of Population income data by CMA.
- Government of Canada Job Bank, wages by occupation and region.
- London Economic Development Corporation, ledc.com.