
Cheap Apartments for Rent in Peterborough, ON from $1,300 (37 Rentals)
Search the lowest-cost Apartments available for rent right now in Peterborough.


Parkhill

Tarawood Place

1211 Goodfellow Road

470 Bolivar St

1001 Talwood Drive

1189 Talwood Court

1556 Redwood Dr

805 Morphet Ave
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

588 Howden St

186 Collison Ave

203-203 Rubidge St

1241 Huntington Cir

1260 Pulpit Rd

2148 Springwood Rd

641 Fortye Dr

157 Milroy Dr

265 Sherbrooke St
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

1103 Huntington Cir

180 Dumble Ave

260 Lansdowne St W

219 Stewart St

596 Garside Dr

1326 Hopewell Ave

52 Victoria Ave

52 Victoria Ave

642 Bolivar St
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

492 King George St

267 Bethune St

265 Bethune St

451 Water St

Time Square Apartments

Burnham Place

209 Stewart St

209 Stewart St

288 Romaine St
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

736 Stormont St
Peterborough, ON Local Guide

How much does it cost to rent an apartment in Peterborough?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Peterborough Studio Apartments | $1,414 | $1,414 | $1,414 |
| Cheap Peterborough 1 Bedroom Apartments | $1,807 | $1,600 | $2,190 |
| Cheap Peterborough 2 Bedroom Apartments | $1,939 | $1,600 | $2,500 |
| Cheap Peterborough 3 Bedroom Apartments | $2,378 | $1,840 | $3,790 |
Browse Top Apartments in Peterborough
See all Apartments in PeterboroughExplore Peterborough
Peterborough, ON Local Guide
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Cheapest Available Peterborough Apartments for Rent
 The cheapest available apartment rental in Peterborough, ON is a Studio unit found at 836 Talwood Dr priced from $1,320. Tarawood Place has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,600. Here is today’s list of the most affordable Peterborough apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 836 Talwood Dr | Studio | Studio,1BA | $1,320 |
| Tarawood Place | 1 Bed 1 Bath A | 1BR,1BA | $1,600 |
| 1211 Goodfellow Road | 1 Bedroom | 1BR,1BA | $1,630 |
| Parkhill | 1 Bedroom | 1BR,1BA | $1,650 |
| Time Square Apartments | 1 Beds, 1 Baths | 1BR,1BA | $1,670 |
| 1001 Talwood Drive | 1 Bedroom | 1BR,1BA | $1,720 |
| 1189 Talwood Court | 1 Bedroom | 1BR,1BA | $1,799 |
| Kawartha Place | 2 Bedroom | 2BR,1BA | $1,850 |
| Delta Apartments | 1 Beds, 1 Baths | 1BR,1BA | $1,875 |
| 1200 Talwood Court | 2 Bedroom | 2BR,1BA | $1,899 |
Best Value Apartments for Rent in Peterborough, ON
As of May 04, 2026 the best value apartment in the Peterborough area is the $1.95 price per square foot 3 Bedroom Model at 1200 Talwood Court in the starting from $2,199. The second greatest value Peterborough apartment is the 2 Bedroom Model at Kawartha Place starting at $1,850 with a $1.85 price per square foot . Here is today’s list of the best values for Peterborough apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1200 Talwood Court | 3 Bedroom | 3BR,1.5BA | $1.95 |
| Kawartha Place | 2 Bedroom | 2BR,1BA | $1.85 |
| 475 George Street North | 3 Beds, 2 Baths | 3BR,2BA | $3.99 |
| Parkhill | 1 Bedroom | 1BR,1BA | $2.06 |
| 1001 Talwood Drive | 1 Bedroom | 1BR,1BA | $2.48 |
| 1189 Talwood Court | 1 Bedroom | 1BR,1BA | $2.59 |
| Tarawood Place | 1 Bed 1 Bath A | 1BR,1BA | $2.53 |
| 1211 Goodfellow Road | 1 Bedroom | 1BR,1BA | $2.62 |
| Delta Apartments | 1 Beds, 1 Baths | 1BR,1BA | $3.13 |
| 836 Talwood Dr | Studio | Studio ,1BA | $2.49 |
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.
Read Article10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read ArticleDon't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Peterborough, ON Rentals by Map
See the most popular apartments and homes in Peterborough, ON
Frequently Asked Questions about Cheap Peterborough Apartments
How much is rent for a Cheap One Bedroom Peterborough Apartment?
The lowest price for a Cheap One Bedroom Peterborough Apartment is $1,600 at Tarawood Place.
What is the lowest price for a Cheap Two Bedroom Peterborough Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Peterborough is starting from $1,671 at 836 Talwood Dr.
What is the most affordable Peterborough Three Bedroom Apartment?
The best deal on a cheap Peterborough Three Bedroom Apartment rental is at 836 Talwood Dr and starts from $1,840.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.