Barrie is a small city located in Canada with a metropolitan area population of 145,544. A couple could live a moderate lifestyle in Barrie on a budget of $3,297 per month, or $39,561 per year.
Cost of Living in Barrie, Canada
As noted above, the cost of living in Barrie, Canada is $3,297 per month for a couple living a moderate lifestyle. This budget consists of $1,965 for housing related costs, $608 for food, and $724 for other costs, all of which will be broken down below.
- A one-bedroom apartment in the city center of Barrie is estimated to cost $1,689
- Basic utilities including electricity, water, and gas will run about $198
- High-speed internet averages $78
- Typical grocery costs of $457 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
- Alcohol including beer and wine for moderate home consumption costs about $90
- Frequent coffees in a neighborhood café are estimated to be about $61
- Meals out are estimated to be $410 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
- Transportation costs of $168 for public transport passes and occasional taxis
- Fitness center memberships of $99
- Cinema tickets of $47 include several outings for international releases
Note that Barrie, Canada is a not very walkable city with a Walk Score of 48/100, which means you definitely need a car if you are living in the city center and public transportation may not be very accessible or convenient.
Amount of Money Needed to Retire in Barrie, Canada
Many people searching the internet for the cost of living in Barrie, Canada are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.
The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $989,025 to live a moderate lifestyle in Barrie, Canada.
Annual expenses of $39,561 ÷ 4% = $989,025 portfolio needed.
Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.
Overall, the cost of living in Barrie, Canada is affordable coming in at $3,297 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $989,025.