Melbourne vs Toronto
Home Price & Cost of Living Comparison
Live DataLast updated: March 31, 2026·Source: OECD, Numbeo & National Statistics
💡 Why it matters: Melbourne vs Toronto
Toronto is 0% more affordable for homebuyers. Melbourne has a price-to-income ratio of 9.2x compared to 10.2x in Toronto.
| Metric | Melbourne | Toronto |
|---|---|---|
| Avg Home Price | $680,000 | $680,000 |
| Price / sqm | $8,500 | $8,500 |
| Rent (1BR) | $2,200/mo | $2,200/mo |
| Rent (3BR) | $3,200/mo | $3,500/mo |
| Price-to-Income | 9.2x | 10.2x |
| Mortgage Rate | 6.2% | 5.2% |
| 1yr Change | +3.2% | -2.1% |
| Median Income | $74,000/yr | $67,000/yr |
| Population | 5,100,000 | 2,900,000 |
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HomePricePeek Research TeamData Specialists
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
✓ OECD, Numbeo & National Statistics✓ Updated 2025
Frequently Asked Questions
Is Melbourne or Toronto more expensive?
Toronto is more affordable. Home prices differ by $0 (0%).
Which city has cheaper rent, Melbourne or Toronto?
Rent for a 1BR in Melbourne is $2,200/mo vs $2,200/mo in Toronto.
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