Faraday, Ontario Cost Of Living

A+

14%

Overall NAT. AVG.

5%

Goods & Services NAT. AVG.

56%

Housing NAT. AVG.

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Date & Last Updated: This data reflects 2020 and was released from Statistics Canada.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Faraday	Ontario	National
Cost of living	86	111	100
Goods & Services	105	107	100
Groceries	101	101	100
Health care	102	103	100
Housing	44	120	100
Transportation	100	104	100
Utilities	107	119	100

Cost Of Living Quick Facts

The cost of living in Faraday is 23% lower than the Ontario average
The cost of living in Faraday is 14% lower than the national average
Faraday housing is 56% lower than the national average
Ontario general sales tax is 33% higher than the national average
Ontario state income tax is 40% lower than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Ontario Sales Tax

State	General Sales Tax	With Max Surtax
Ontario	8%	13%

Ontario Income Tax

State	Income Tax (Low)	Income Tax (High)
Ontario	5.05%	13.16%

Goods & Services

Item	Faraday	National avg.	Difference
Personal Care	$100.00	$94.33	6.0%
Recreation	$101.00	$102.33	1.3%

Groceries

Item	Faraday	National avg.	Difference
Meat, Poultry and Fish	$101.00	$102.27	1.2%
Dairy Products and Eggs	$100.00	$104.67	4.5%
Bakery and Cereal Products	$102.00	$111.67	8.7%
Fruit and Vegetables	$99.00	$113.40	12.7%
Alcoholic Beverages	$102.00	$105.80	3.6%

Health Care

Item	Faraday	National avg.	Difference
Doctor	$104.00	$101.07	2.9%

Housing

Item	Faraday	National avg.	Difference
Home Price ($)	$n/a	$659,395.00	100.0%
Apartment Rent ($)	$n/a	$2,146.00	100.0%

Transportation

Item	Faraday	National avg.	Difference
Gasoline	$98.00	$102.07	4.0%

Utilities

Item	Faraday	National avg.	Difference
All Electricity	$105.00	$98.60	6.5%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Bancroft, ON	4,191	84	16.0%
Carlow/Mayo, ON	864	85	15.2%
Limerick, ON	368	87	12.5%
Wollaston, ON	705	89	10.9%
Faraday, ON	1,476	86	14.1%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Pioneer, OH	1,476	n/a
Catawissa, PA	1,476	n/a
McConnellstown, PA	1,476	n/a
Lac La Hache 220, SK	1,476	93	6.5%
Double Springs, AL	1,477	n/a
Faraday, ON	1,476	86	14.1%

Date & Last Updated: This data reflects 2020 and was released from Statistics Canada.