Cost of Living in Halifax: 2025 Edition

Halifax continues to attract new residents with its vibrant culture, stunning waterfront, and growing tech scene. However, like many Canadian cities, Halifax has experienced significant cost increases over the past few years. Whether you're a newcomer considering the move or a local planning your budget, understanding the current cost landscape is essential for making informed financial decisions.

Housing: The Biggest Budget Item

Housing remains the largest expense for most Halifax residents, with both rental and purchase prices reflecting strong demand and limited supply.

Home Ownership

The real estate market in Halifax has shown resilience despite economic uncertainties. The average resale price for a home now sits between $605,000 and $639,646, representing approximately a 5% increase from 2024. This growth reflects the ongoing demand from both interprovincial migrants and international newcomers, coupled with a housing supply that hasn't kept pace with population growth. For up-to-date Market Analysis, please click here

For prospective homebuyers, it's worth noting that these figures represent city-wide averages. Properties in sought-after neighborhoods like the South End or areas closer to downtown command premium prices, while suburban areas may offer more affordable options.

Rental Market Reality

The rental market tells a story of increasing pressure on affordability. With a vacancy rate hovering around 2.5%, finding suitable accommodation requires patience and flexibility. While this represents a slight improvement from previous years, it still indicates a tight market where landlords have significant leverage.

Current rental rates paint a challenging picture for many residents:

• One-bedroom apartments outside the city centre average around $1,667 per month
• Two-bedroom units range dramatically from $1,740 for basic accommodations to $2,600 for newer, centrally located apartments
• Three-bedroom apartments outside the centre typically cost around $2,038 monthly
• Luxury or waterfront properties can exceed $4,000 monthly for two-bedroom units

These figures underscore the importance of location and amenities in determining rental costs. Those willing to live further from downtown or accept older buildings may find more affordable options, while proximity to the waterfront or downtown core commands premium pricing.

Utilities and Essential Services

Beyond rent or mortgage payments, residents must budget for essential utilities that keep homes comfortable and connected.

Basic utilities—including electricity, heating, cooling, water, and garbage collection—typically range from $150 to $350 monthly, depending primarily on home size and energy efficiency. Halifax's maritime climate means heating costs can be substantial during winter months, making energy-efficient housing particularly valuable.

Internet connectivity has become essential for work and entertainment, with high-speed, unlimited data plans costing between $80 and $120 monthly. When combined with utilities, most apartment dwellers should budget $250 to $350 monthly for these essential services.

Getting Around Halifax

Transportation costs vary significantly depending on personal preferences and lifestyle choices.

Public Transit

Halifax Transit offers a comprehensive bus system serving most areas of the municipality. A monthly adult pass costs approximately $82.50, making it an economical choice for daily commuters. The system continues to expand and improve, with recent investments in bus rapid transit and route optimization.

Car Ownership

For those preferring personal vehicles, several costs must be considered:

• Gasoline fluctuates around $1.30 to $1.60 per litre, influenced by global oil prices and seasonal demand
• Insurance varies widely based on driving record, vehicle type, and coverage level, typically ranging from $80 to $150 monthly
• Parking in downtown areas can cost $100 to $200 monthly for reserved spots, though street parking and some lots offer more affordable alternatives

Alternative Transportation

Occasional taxi or rideshare trips within city limits typically cost $15 to $25, making them practical for specific journeys without the ongoing costs of vehicle ownership.

Daily Life and Lifestyle Costs

Beyond housing and transportation, residents must budget for food, entertainment, and personal care.

Groceries and Dining

Food costs in Halifax exceed the national average, reflecting both Atlantic Canada's geographic location and recent inflation pressures. A single adult should budget $400 to $800 monthly for groceries, with families requiring proportionally more based on dietary preferences and shopping habits.

Dining out provides social and cultural experiences but requires careful budgeting:

• Casual meals typically cost $20 to $30 per person
• Mid-range restaurant experiences (three-course meals for two) range from $80 to $120

Health and Recreation

Maintaining physical and mental health requires ongoing investment:

• Gym memberships cost $50 to $80 monthly, though many residents take advantage of Halifax's excellent trail systems and outdoor recreation opportunities
• Mobile phone plans with standard data and talk/text features cost $40 to $70 monthly

Entertainment and Culture

Halifax's vibrant arts scene and entertainment options provide numerous choices:

• Movie tickets cost approximately $15
• Local events including concerts, festivals, and cultural activities typically range from $20 to $50

Most residents should budget $100 to $200 monthly for combined dining out and entertainment expenses, though this varies significantly based on personal preferences and social activities.

Monthly Budget Overview

For a single adult living in Halifax, monthly expenses typically break down as follows:

Housing and Utilities:

• Rent (one-bedroom, outside centre): $1,667
• Utilities and internet: $250–$350

Daily Living:

• Groceries: $400–$600
• Transportation (transit): $82.50
• Mobile phone: $40–$70

Personal and Recreation:

• Gym/leisure: $50–$80
• Dining out/entertainment: $100–$200

Monthly totals (excluding rent): $922 to $1,382 Monthly totals (including rent): $2,589 to $3,049

For families of four, monthly living costs excluding rent typically range from $4,000 to $5,000, depending on housing choices, lifestyle preferences, and children's activities.

Special Considerations for Different Groups

Newcomers to Halifax

New residents often face additional challenges and costs during their initial months. Securing housing may require higher deposits, and setting up utilities, internet, and other services can involve connection fees and deposits. Building local credit history and understanding the rental market takes time, potentially requiring temporary accommodations that cost more than long-term housing.

Long-term Residents

Established Halifax residents may benefit from existing rental agreements subject to Nova Scotia's rent control provisions, which limit annual increases to 2% on existing leases. However, when moving to new accommodations, they face current market rates that may represent significant increases from their previous housing costs.

Halifax in Context

While Halifax has experienced substantial cost increases, it remains more affordable than major Canadian centers like Toronto or Vancouver. The city offers a unique combination of urban amenities, cultural richness, and natural beauty that many residents find justifies the costs. However, wage growth hasn't kept pace with housing cost increases, creating affordability challenges for many residents.

Planning Your Halifax Budget

Successful budgeting for Halifax life requires careful attention to housing and grocery costs, which together represent the largest expenses for most residents. Those considering relocating should research neighborhoods thoroughly, as location significantly impacts both housing costs and transportation needs.

The city's continued growth and economic development suggest that costs may continue rising, making careful financial planning essential for both newcomers and long-term residents. However, Halifax's quality of life, employment opportunities, and community spirit continue to attract people who find the investment worthwhile.

For those planning a move to Halifax or reassessing their current budget, the key is realistic expectations and thorough preparation. While costs have increased, Halifax remains a city where residents can build fulfilling lives with proper financial planning and realistic expectations about the investment required to call this maritime city home. Looking to talk to a local real estate expert, please give Rob Lough a 902-880-8595