Salaries in Canada are higher than in Vietnam, but so is the cost of living. IRCC notes that newcomers may have to take lower-paid work at first while upgrading skills or gaining experience.
Exchange rate used
CAD 1 ≈ VND 18,600 (Vietcombank's CAD selling rate on October 19, 2026: VND 18,624). Rates change daily.
IRCC's official figures
| Item | According to IRCC | In VND |
|---|---|---|
| Housing and utilities | Most Canadians spend 35–50% of income | |
| Household expenses | Can take up to half of take-home pay | |
| Renting a room | From about CAD 350/month | From about 6.5 million/month |
| A larger apartment or house | From about CAD 2,000/month | From about 37 million/month |
| Clothing | Can be under 10% of take-home pay | |
| Down payment on a home | Most banks ask for at least 10% of the price |
Rent is usually lower outside large cities.
Minimum settlement funds (for reference)
IRCC requires Federal Skilled Worker applicants in Express Entry to show settlement funds (table updated July 7, 2025): CAD 15,263 for 1 person (about VND 284 million), CAD 28,362 for a family of 4 (about VND 528 million). These are minimums to qualify, not a real budget.
Monthly budget worksheet
| Item | CAD | VND (× 18,600) |
|---|---|---|
| Housing | ||
| Heat, electricity, water, internet, phone | ||
| Food | ||
| Transportation | ||
| Insurance | ||
| School fees, child care | ||
| Other | ||
| Total |
Saving tips
- Share accommodation at first.
- Second-hand stores for clothes and furniture.
- Cook at home: food costs can double if you eat out often.
- Alcohol and cigarettes are expensive because of taxes.
Note CMHC has housing cost information by city. A newcomer services organization where you plan to live can help you find affordable housing.
Renting and buying a home
Banking, credit and taxes