Well, in Toronto, Canada you get taxed to death, but that's about it.
Also, Toronto gets its fair share of flooding.
Relative to cost of living, I'd pick Ontario any day of my life.
But the "flooding" is NOTHING like What Houston/etc got. It'll cause bad traffic and some highway closures one day per year but the actual damage is negligible relative to what an actual flood causes. It's a minor nuisance, not a catastrophe.