According to a study conducted in 2006 by Mercer Human Resource Consulting, Montréal has one of the lowest costs of living of all major world cities. Thanks to the inflation rate stability, Greater Montréal keeps an enviable position in spite of the recent increase in the value of the Canadian dollar against the American greenback. The healthcare system in Québec is based on the principle of universality, which means that all residents receive first-rate medical care at no cost. The public school system provides quality education free of charge from elementary to college in both English and French.

Another study conducted by the Union Bank of Switzerland on prices and earnings in 71 world cities in the first quarter of 2006 shows that Montréal is affordable from the standpoint of its cost of living. With data from the study, it is possible to calculate a purchasing power index. The study also provides information on the prices of various consumer goods and services and reveals that Montréal rates among the best in this respect as well, despite the ongoing strength of the Canadian dollar.