It's no secret that the cost of living in Quebec has many residents looking for ways to supplement inflation in Canada, whether it be taking on more hours at work, extra jobs or seeking financial aid from the Canada Revenue Agency and Revenu Quebec.
With day-to-day necessities rising in price, many are starting to wonder just how much you need to earn in Quebec to live comfortably, and we've got the answer.
Every year, the the Institut de recherche et d'informations socioéconomiques (IRIS) releases a report on the amount of annual income required to enjoy a relatively comfortable standard of living in the province of Quebec.
In its 10th edition, IRIS created a Sustainable Income index that takes into consideration different types of households, and expenditures for items such as food, clothing, housing, transport and other essential services such as healthcare, education and childcare.
"The Sustainable Income calculation indicates what a dignified standard of living represents, beyond just covering basic needs. Moreover, it means being able to make choices and cope with the unexpected," said Eve-Lyne Couturier, researcher at IRIS and author of the 2024 report.
So, just how much do you need to be earning in Quebec to live comfortably?
According to the IRIS report, a single person in Quebec would need to earn between $30,738 and $43,609 in 2024 to live comfortably. Compared to the 2023 figures, when the income range was between $27,047 and $37,822, this indicates that roughly $3,000 more in salary is required this year.
Now, what about families? Per IRIS, a family of four would need an income of $72,788 and $86,585 in 2024 to secure an enjoyable and comfortable standard of living.
As for the highest increase in sustainable income in Quebec, Montreal came out on top. Single residents living in Montreal needed $32,252 to enjoy life in 2023. Now…it stands at $38,479 in 2024 — a staggering $6,227 increase in just a single year.
For Montreal families (two parents, two kids), the household income needed to live well in 2023 was $71,161. In 2024, the figure has increased nearly $10,000 to $81.999.
Considering how much more money is needed to live comfortable in Quebec, the IRIS made it clear that minimum wage simply doesn't cut it.
"We tend to believe that working is enough to get out of poverty, but our economy is creating a category of working poor who, even if they work 50 hours a week, struggle to meet their needs," said researcher Eve-Lyne Couturier.
According to IRIS' 2024 report, you would need to earn between $20 and $30 an hour to live with dignity in Quebec. With Quebec's minimum wage currently standing at $15.75, residents would need to be earning $4.25 an hour more to meet a comfortable living standard.
For the full IRIS report, visit here.
This article's cover image was used for illustrative purposes only.
This article has been updated since it was originally published on July 9, 2024.
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Summary of viable income for the seven localities and the three types of household considered, 2024.Courtesy of Institut de recherche et d'informations socioéconomiques (IRIS)