London, Ontario, can have a different cost profile from the GTA, but no single online “monthly living cost” applies to every renter. This 2026 guide uses official rental, transit, food-price and tax sources so you can make a personal budget.
London rent: CMHC’s 2025 benchmark
CMHC’s 2025 Rental Market Report records a 4.0% vacancy rate for London purpose-built rental apartments and an average two-bedroom rent of $1,651 per month. The report lists rental condominiums separately, with a 0.2% vacancy rate and average two-bedroom rent of $2,132.
Those figures are not a promise for a particular unit. A prospective renter should check size, location, building age and included utilities, and read CMHC’s full Rental Market Report for source definitions.
London Transit fare choices
London Transit lists adult ticket or stored-value travel at $2.65 per trip and provides several pass options. The most suitable choice depends on how often you ride, so use the current London Transit fares page to check monthly-pass prices, purchase windows and eligibility before adding transport to your budget.
Food: use a personal basket
Food spending changes by household size, diet and shopping choices. Instead of asserting an unverified London grocery total, use Statistics Canada’s Food Price Data Hub for official CPI and retail-price context, then calculate a basket based on what you actually buy.
Ontario income-tax context
Your take-home pay reflects federal and provincial tax, credits, CPP, EI and personal deductions. Do not apply one generic rate to all salaries. Use Ontario’s official personal income-tax rates and credits data and CRA guidance for an individual estimate.
Simple London budget checklist
- Benchmark your rent against CMHC, then price the specific home you need.
- Choose transit costs based on your expected ride frequency.
- Build groceries from a personal shopping basket.
- Separate utilities, insurance, mobile service and moving costs.
FAQ
Does $1,651 represent all London homes?
No. It is CMHC’s 2025 average for two-bedroom purpose-built apartments. Actual rent depends on the property and lease.
Where can I compare other Canadian cities?
See our Canada cost-of-living guides for the same source-first planning method.
Alex Wang is a financial content researcher and writer at Canada Tax Hub.
He focuses on researching Canadian taxes, cost of living, personal finance, and everyday financial topics to help readers better understand money-related information in Canada.
Alex creates educational content by analyzing publicly available information from reliable sources, including government resources and financial publications.
His goal is to make complex financial topics easier to understand through clear explanations, practical guides, and useful tools.
All content is created for educational purposes and should not be considered professional tax or financial advice.