Toronto is expensive. I need to express that. Business operating costs will always be lower of you compare another city to one that is often ranked exceedingly expensive. Relative references are not appropriate since you don't have a baseline. So, use a baseline of what the average operating cost is.
Toronto is HARD to get around. My morning commute is over 1 hour of driving at 5:40am - 6:50am with some variations depending on weekday, accidents, and time of year. My shift starts at 10am. If I leave at 8am I would arrive at 10:30am and be late for work. I hope this perspective shows how hard it is to get into downtown Toronto and how bad their traffic is. (The office is located away from the GO train and there's free parking in case people are wondering why I drive instead of transit.)
Toronto is also a bit old in tech. When I came from Vancouver and went to meetups, I felt like someone had rolled the clock back by two years. It was an odd feeling. The community just felt... Behind. I think this comes from businesses not giving as much time for developers to explore new technologies, hence why there may be larger delays in new tech popping up in Toronto.
Businesses are... Conservative. Having worked in Vancouver and coming to Toronto there was a cultural change that needed to be made. Businesses operated with less focus on employee happiness and talent retention and more on "talent results" (read: work or replaced) and transparency on 3x salary ROI. Banks and conservative businesses practices are very much the norm in Toronto. Very helpful for a business but to an employee, Toronto has a lot of cons for workplace lifestyle.
If you live in Toronto, I recommend working remote with US companies. Or, if you are inclined to do so, move to Vancouver or Calgary. Because of these issues that Toronto presents, I have myself been planning on moving to Calgary in a year or two.