We all know it’s expensive to live in Toronto.

Now we’re finding out just how much prices have gone up in recent years.

According to a new report by zoocasa.com, the cost of living in Toronto went up nearly 20-percent between 2017 and 2022, but that is less than half the increase seen in the city’s housing prices over the past five years.

The report says costs of goods and services such as food, clothing and shelter for an average family of four was just $55,262 in 2022, up from $46,975 in 2017.

The benchmark home price in Toronto five years ago was $746,500. Now in 2024, the cost is $1,065,800.

That represents a 43-percent increase in just five years.

“With home prices rising at a rate much faster than the cost of living, many Canadians are finding it increasingly difficult to find affordable housing options,” Carrie Lysenko, CEO of Zoocasa said in the report.

The report also notes that benchmark home prices increased significantly in smaller communities like Moncton and Halifax, where home prices have gone up more than 100-percent and 82-percent, respectively, since 2019.