Being a student is an expensive proposition. There’s tuition and books, your tech requirements, clothing and feeding yourself…in short, there’s a lot you have to pay for. Not to mention you’re not going to be making much money,
And while living at home is a perfectly good way to save money, you may want the full experience. Or, home isn’t close where you’re going to school, and you’ll have to set out on your own.
So you’ve got 2 choices when it comes to living on your own – living in a dorm on-campus, or getting an apartment and travelling everyday.
But which one is cheaper? Here are the numbers we found.
Summary of the cost difference between on and off-campus costs
First, here’s a summary of the average cost we found for both an on-campus dorm and an off-campus apartment.
| Option | Average cost (8 months) | Details |
|---|---|---|
| On-campus dorm | $9,125.54 | Mostly shared rooms with meal plans included. |
| Off-campus apartment | $8,819 | Small studio apartment shared with a roommate. |
One point to note – while the apartment number is lower, you still have to pay for food. Most of the dorm options included mandatory meal plans.
The pros, cons, and definition of a student dormitory
A dormitory is what most of us think of when we imagine university life, at least the first year.
Think of all the movies and commercials where teary-eyed parents watch their 18-year-old jog off to join friends on the busy first day of school, holding nothing but a box of their stuff.
Often centrally located on campus (hopefully near the cafeteria), these buildings house hundreds of students, divided into small rooms just big enough for their bed and desk and not much else. Sometimes they’re divided by gender, but often girls and boys stay on the same floor (just not usually in the same room).
The pros and cons
| Pros | Cons |
|---|---|
| Closer to school, no commute Often close to meal hall and on-campus dining More social experience Fewer chores Free amenities | Less privacy Often a shared bathroom Distracting and loud |
Dorms will give you great access to all campus amenities and most of the times mean you’re a 5 or so minute walk from class. So if you’re someone who likes to roll out of bed and go right to class, living on campus would be a great choice for you.
You also have the chance to participate in campus activities which your school will likely hold throughout the year. You’ll also feel like you’re part of a community with a lot of dorm-specific events and parties.
Most of your amenities will be covered, and you’re usually only responsible for making your bed and keeping your room clean – bathroom and kitchen areas often have cleaning staff take care of them.
But there are downsides too – most of the time you’re sharing living areas, giving you little privacy. And all the fun stuff happening right outside your door makes it a lot harder to stay inside and study.
The price of dorms
But just how expensive are dorms?
We’ve listed the cheapest option of Canada’s 5 biggest universities (by student count) to get an idea of the price across the country.
| School | Price (8 months) | Details |
|---|---|---|
| University of Toronto | $11,016 | Double room, no meal plan. |
| York University | $7,512 | Double room, meal plan mandatory. |
| Université de Montréal | $3,040 | Single room., no meal plan |
| University of British Columbia | $12,140.72 | Shared room, meal plan mandatory. |
| University of Alberta | $11,919 | Double room, meal plan included |
| Average price: | $9,125.54 |
Please note: Prices are subject to change without notice and are subject to availability. Please check the sites directly for the most up-to-date information.
Are you a Canadian student in your 2nd year of post-secondary education or higher? Click here to learn more about our $2,000 scholarship.
The pros and cons of living in an apartment during school
| Pros | Cons |
|---|---|
| More independent More privacy Likely to be quieter (unless you have some noisy roomates!) Fewer rules More space |
Usually off-campus Have to take care of everything on your own Further from the social life Arranging a commute to and from school |
But living on campus isn’t your only option.
School can be a time of transition into adulthood, including renting your own apartment or purchasing a car for the first time.
And if you’re someone who really values privacy and quiet, an apartment can be an amazing way to finally get that independence you’ve been craving.
You’ll get more independence, privacy, and quiet – a great environment to encourage studying and productivity. Plus you’re not at the mercy of strict curfews and not being able to have people over for the night. Having your own apartment means you can do what you want – within reason, of course.
And you’ll often have more space, with a private bathroom and full kitchen.
The downsides are a high chance for increased commute time (meaning you’ll have to wake up earlier for class). Plus you’ll need to take care of the entire place, including the bathroom and kitchen.
You may also feel disconnected from things as they happen since you don’t have a built-in community to be part of.
The price of apartments
If you were to attend the same universities listed above, here are the average prices of apartments in the area to get an idea of the price of living off-campus.
All prices are the averages of a small studio apartment in the city’s epicentre – which is often where the schools are. These prices assume you have a roommate and split the cost – similar to the shared dorm rooms that make up the majority of universities.
| City | University | Price (8 months) |
|---|---|---|
| Toronto | University of Toronto York University | $10,776 |
| Montreal | Université de Montréal | $7,380 |
| Vancouver | University of British Columbia | $11,340 |
| Edmonton | University of Alberta | $5,780 |
| Average: | $8,819 |
Please note: All prices are based on Expatistan numbers, which are the average of user-submitted costs. You’ll likely be able to find cheaper apartments in these areas, as well as more expensive ones. In order to get a good comparison to dorms, we used half the cost of “Monthly rent for 85 m2 (900 Sqft) furnished accommodation in EXPENSIVE area.”
Tips for cutting costs on apartments
Unlike living in dorms, you have a lot of options for seriously lowering your monthly rent.
If you don’t mind a bit of a commute or sharing common areas with strangers, even expensive cities like Toronto can have apartments for as little as $800 per month.
As usual, it pays to shop around. And you simply don’t have that luxury when staying in a dorm.
Credit cards to pay for your expenses
When you get your own place, you’re going to have expenses that need to be paid, with food being the biggest one.
So…here’s the best student credit card to buy groceries with.
$20 GeniusCash + 5% cash back for the first 3 months + No annual fee.*The BMO CashBack Mastercard for students is a no fee credit card designed specifically for students that puts you in control and lets you choose when you receive your cash back rewards.
- Genius Rating:
- Rewards rate: around 1.01%
- Our credit estimate: Poor (300-560)
- Welcome bonus: up to $100* (Ends 2026/01/31)
- Annual fee: $0
- Interest: 21.99% on purchases, 23.99% on cash*
- * See rates and fees
- It'll take you to the bank's secure site.
- You'll get the chance to read the offer and product details.
- If you choose to apply, filling the form should take between 10 to 15 minutes.
GC: $20
- It'll take you to the bank's secure site.
- You'll get the chance to read the offer and product details.
- If you choose to apply, filling the form should take between 10 to 15 minutes.
The BMO CashBack Mastercard for students is one of your best options for paying for your expenses. While making your purchases, you’ll be earning a little cash back on the side, which you can use to pay for future expenses.
That 3% cash back on groceries also extends to Walmart Supercentres, since this happens to be a Mastercard (and Mastercard is the only issuer that counts Walmart Supercentres as grocery stores).
And if you have bills to pay (like your internet or Netflix subscription), you’ll be earning 1% back on those purchases, all while earning at least 0.5% back on everything else.
Bonus: The pros and cons of living with your parents during school
There’s one last option you may have – living with your parents.
I did this for my undergrad and I don’t regret the huge cost savings, but definitely felt like I missed out on the true university experience.
I didn’t make many friends and I’m sure a large part of that was my ability to shy away into my childhood home 40 minutes away, instead of simply going to a party down the hall.
So what are the pros and cons?
| Pros | Cons |
|---|---|
| Cheap – maybe even free Your own space No moving, no change | Don’t have the full “adult” experience Often far from campus Not exciting |
Final thoughts
It’s important to keep in mind that most dorm prices have a meal plan included in the price. Your apartment costs would definitely include food on top of it, as well as services like electricity and wifi.
And at the end of it all, money isn’t everything.
If the experience of living in a dorm is important to you, then do it. If you’re uncomfortable with the thought of shared showers and constant people around you, find a nice apartment nearby.
Entering the real world means your choices are endless. Learn what’s important to you and make it work.
FAQ
Which is cheaper for living at university – a dorm or apartment?
On the surface, an apartment can seem cheaper. But most dorm rooms come with meal plans, and when the cost of food is factored in, they tend to be cheaper (and easier).
Do all dorms require meal plans?
This may be surprising, but not all dorms require meal plans. This varies by both the type of accommodation and the university providing them.
What is the best student credit card?
The best student credit card is the BMO CashBack Mastercard for students, which offers up to 3% cash back on purchases for no annual fee.
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