This study presents a multi-objective optimization environment in which passive energy conservations measures of a high performance house in Toronto are evaluated. The optimization environment was created using the jEPlus software suite where the case study house acted as the reference building. The study house simulation model was calibrated using a data-driven procedure, and acceptable CV(RSME) and NMBE tolerances were reached in accordance with ASHRAE calibration requirements. The optimization varied passive energy efficiency parameters in search of configurations yielding optimal building performance and life cycle cost. The optimization results showed that energy savings of 33% relative to building code minimum were justified at the point of minimal life cycle cost via passive energy saving measures alone before considering active systems. These results suggest that improved thermal envelopes are economically advantageous with good building practice. However, they suggest that the current Passive House standard does not coincide with the economic minimum for the local economic and environmental climate.