NYC vs Toronto: Which City is Best in 2023?

Moving to a major city can be nerve-wracking, considering all the factors you must consider. If NYC and Toronto are getting you into a dilemma about where to live, you need to consider how they compare in every aspect of living in the cities.

NYC and Toronto are similar in many ways and different in some aspects. They are both metropolitan areas, but Toronto leads in living costs, safety, and family friendliness, while NYC has better economic opportunities and entertainment.

In this article, you will find a detailed comparison of these two different cities helping you make an informed decision on the one that suits your needs.

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NYC vs. Toronto Population

The two cities are dense in population, with New York home to over 8.3 million residents and Toronto having over 6.1 million people.

Surprisingly, Toronto does not feel as populated since it has a more extensive land area than NYC. People are spread out, which is not the case in New York’s smaller land area with this big of a population.

The numbers may be close, but New York is the more populous city of the two. New York is for you if you like the vibe of a buzzing metropolis. But if you prefer to be in a big city but still enjoy the luxury of space, Toronto might be your best bet.

When it comes to the number of Tourists, New York tops the list on this one. In 2018, the Big Apple attracted about 65.2 million tourists, thanks to its wide array of attractions, including iconic buildings. These numbers are predicted to have gone up, even though there was a significant hiatus from the Coronavirus Pandemic in 2020 and 2021.

In the same year, Toronto welcomed about 28 million tourists, a relatively smaller number than New York. Like New York, Toronto was set to have fewer tourists due to the COVID19 impact.

NYC vs. Toronto Cost of Living

NYC is the most expensive city in the United States, while Toronto is one of the most expensive cities in Canada. They are both expensive, but there are varying costs in different aspects of living in these cities.

People that move to Toronto, having not been to NYC, complain about the high cost of consumer items and real estate. A typical one-bedroom in Toronto costs an average of $2,000 which can be pretty pricey for a newcomer in the city.

If you plan to buy a home, home prices are similar in both cities if you choose an area outside the city center. But getting a great apartment in the New York City center will cost you almost double what you’d spend getting the same in Toronto.

As expensive as it seems, the living costs in Toronto are nothing compared to New York’s. Real estate prices are higher, and consumer prices are higher than in Toronto, making NYC the most expensive.

These higher costs in NYC translate into groceries, health services, and entertainment too. Therefore, Toronto is the better choice if you are looking for a cheaper city. And, you can save a little more by living in downtown Toronto or the greater Toronto area instead of the city center.

Economic Opportunities in NYC vs. Toronto

You might be drawn to a big city in search of greener pastures and better opportunities for your career. NYC and Toronto are great hubs for people looking to grow careers and leverage economic opportunities, but there is a slight difference in the availability of these opportunities.

New York City is known to be the best economic hub in the world, not forgetting it is the largest regional and municipal economy in the US. Top industries in New York include Technology, Finance, Healthcare, Real Estate, Manufacturing, Media, and Trade.

Toronto is a significant contributor to Canada’s economy and an attractive city for people looking for buzzing careers. Top industries include Manufacturing, Finance, Tourism, Technology, Entertainment, and Media.

Both cities have a lot to offer in terms of economic opportunities available, but the difference lies in the wages. The average salary in New York is $100,214, while the average salary in Toronto is $71,468 (about CAD91,987).

The most typical salary in New York is $102,000, whereas that of Toronto is $47,000. From these numbers, it is clear New York has a better wage than Toronto, and there are better chances of growing economically in New York than in Toronto.

But, you should take this with a pinch of salt, considering the living costs in New York are much higher than in Toronto. Remember that you will spend more in New York than in Toronto, so the disparity in economic growth may not be much.

Public Transport in NYC vs. Toronto

Public transport in these cities is almost similar. NYC and Toronto have vast public transit systems that get you pretty much everywhere around the city. And, they have plenty of taxis you can grab to get to your destination quicker.

But there are a few things to consider with public transportation in these cities. New York public transportation is slightly cheaper than Toronto’s, considering the exchange rate. A monthly transport pass in NYC costs about $127, while the same costs $156 in Toronto.

New Yorkers complain about delays that easily inconvenience their routines. Toronto’s is pretty much accurate with timings and rarely has schedule disruptions.

When it comes to getting cabs, New York tops the list. You can grab one in minutes, whereas, in Toronto, you have to call ahead for a cab service. If you depend on taxis to move around, you might spend much more time waiting for them in Toronto than in New York.

How is the Entertainment in NYC vs. Toronto

Big cities have a lot of hype regarding entertainment, and these two match up to that. New York is known for its entertainment scene and has a lot to offer. It has Broadway, Off-Broadway, world-class restaurants, comedy clubs, and buzzing nightlife.

There are a lot of tourist attractions, including Central Park, concert halls, observation decks, etc. Toronto has an almost equal entertainment scene with a variety of theatres, events, nightclubs, and tourist attractions.

Crime Rate in NYC vs. Toronto

If you are taking a leap and moving to a major city like NYC and Toronto, you should consider safety in all aspects. Both cities are pretty safe; however, NYC seems to be the safer one of the two.

This has to do with the city’s dense population, which adds to safety, especially if you are walking around at night. In Toronto, there are fewer people within a given area, so you might feel unsettled exploring the city at night.

Final Thoughts

Which is the best city? Both have something unique to offer as far as major cities go. New York City is great for dreamers and hustlers that want to elevate their careers and can thrive in chaos. Conversely, Toronto is slower and calmer and suits people who wish for a more settled life while having a significant city experience.