Basement and Room Available – for 1 or 2 people
26 Monarchwood Crescent
TorontoONM3A 1H4
Cheap Apartments for Rent in Toronto, ON from $700 (838 Rentals)
Search the lowest-cost Apartments available for rent right now in Toronto.
2294 Lake Shore Blvd W
TorontoONM8V 1B4
4 Camilla Crescent
TorontoONM1L 1Z1
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$1,045Studio Apartments Available Now
Bradley Court
280 Dundas St EToronto, ON M5A 3W1
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$1,100 - $2,650Studio to 3 Bedroom Apartments Available Now
25 Mabelle
25 Mabelle AveToronto, ON M9A 4Y1
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$1,200Studio Apartments Available Now
Bradley Courts
266 Sherbourne StToronto, ON M5A 2A2
53 Sullivan St
TorontoONM5T 1C2
15 Shawford Crescent
TorontoONM1G 1V7
101-103 Spadina Rd
TorontoONM5R 2T1
7 Harris Av
TorontoONM4C 1P3
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.
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$1,295 - $3,050Studio to 3 Bedroom Apartments Available Now
90 Eastdale
90 Eastdale AveToronto, ON M4C 2G5
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$1,299
Total Monthly Price
Studio Apartments Available NowTotal Monthly Price
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$1,299
Total Monthly Price
$1,299
256-262 Sherbourne St.
256 Sherbourne StToronto, ON M5A 2A2
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$1,329 - $3,299Studio to 3 Bedroom Apartments Available Now
Crescent Town
7-11 Crescent PlToronto, ON M4C 5C4
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$1,350 - $2,500Studio to 2 Bedroom Apartments Available Now
1011 Lansdowne Ave Apartments
1011 Lansdowne AveToronto, ON M6H 4G1
492 Montrose Ave
TorontoONM6G 3H1
Spacious 1 bedroom basement - *Wont Last*
29 Ridware Crescent
TorontoONM1C 3S1
10 Maxim Cres
TorontoONM1P 1Y2
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$1,384 - $2,4991 to 4 Bedroom Apartments Available Sep 3
The Els - Student Living
3070 Ellesmere RdToronto, ON M1E 4C3
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$1,387 - $1,8981 Bedroom Apartments Available Now
2346 Weston
2346 Weston RdToronto, ON M9N
18 Golfdale Rd
TorontoONM4N 2B6
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.
27 Atlee Ave
TorontoONM1N 3W9
58 Morningview Trl
TorontoONM1B 5A8
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$1,400 - $2,400
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,400 - $2,400
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650 Parliament St
650 Parliament StToronto, ON M4X 1P8
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$1,400 - $1,9001 to 2 Bedroom Apartments Available Now
2251 - 2257 Jane Street
2257 Jane StToronto, ON M3L 1K8
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$1,400 - $2,800
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,400 - $2,800
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$1,400 - $2,800
22 Oakmount
22 Oakmount RdToronto, ON M6P 2M7
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$1,400 - $1,695Studio to 1 Bedroom Apartments Available Now
Dundonald Arms
49 Dundonald StToronto, ON M4Y 1K3
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$1,439 - $2,454Studio to 2 Bedroom Apartments Available Now
103 & 105 West Lodge
103-105 W Lodge AveToronto, ON M6K 2T7
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$1,449 - $1,800
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,449 - $1,800
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$1,449 - $1,800
Six Points Suites | 40 Trethewey Dr
40 Trethewey DrToronto, ON M6M 4B1
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$1,450 - $2,950
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Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,450 - $2,950
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260 Wellesley St E
260 Wellesley St EToronto, ON M4X 1R2
536 Huron St
TorontoONM5R 2R7
Cash 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.
Mimico Estates
2527 Lake Shore Blvd W
TorontoONM8V 1E6
214 Wellesley St E
TorontoONM4X 1G2
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$1,495 - $2,550Studio to 2 Bedroom Apartments Available Now
630 Roselawn Apartments
630 Roselawn AveToronto, ON M5N 1K8
2407 Lake Shore Blvd W
TorontoONM8V 1C5
1 A-1A Vermont Ave
TorontoONM6G 1X6
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$1,499 - $1,5991 to 2 Bedroom Apartments Available Now
2938 Danforth Ave
2938 Danforth AveToronto, ON M4C 1M5
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$1,4991 Bedroom Apartments Available Now
260 Sherbourne
260 Sherbourne StToronto, ON M5A 2S1
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$1,499 - $1,899Studio to 1 Bedroom Apartments Available Now
Serena Court
2202 Weston RdToronto, ON M9N 1Y1
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$1,499 - $1,799Studio to 2 Bedroom Apartments Available Now
The Continental
510 Dawes RdToronto, ON M4B 2G2
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$1,499 - $2,099Studio to 2 Bedroom Apartments Available Now
Gertrude Suites
787 Vaughan RdToronto, ON M6E 2Z5
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.
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$1,499 - $2,149Studio Apartments Available Now
2701 EGLINTON AVE W
2701 Eglinton Ave WToronto, ON M6M 1T9
2938 Danforth Ave
TorontoONM4C 1M5
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$1,500 - $2,600
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1 to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,500 - $2,600
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$1,500 - $2,600
1592 Bathurst Street
1592 Bathurst StToronto, ON M5P 1R8
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$1,500 - $2,150
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Studio to 1 Bedroom Apartments Available NowTotal Monthly Price
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$1,500 - $2,150
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$1,500 - $2,150
30 Springhurst Ave
30 Springhurst AveToronto, ON M6K 1B3
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$1,500 - $2,300Studio to 2 Bedroom Apartments Available Now
Goodwood Apartments
100-108 Goodwood Park CtToronto, ON M4C 5C4
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$1,500 - $2,100Studio to 2 Bedroom Apartments Available Now
15 Bater Ave
15 Bater AveToronto, ON M4K 2S4
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$1,500 - $2,000
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,500 - $2,000
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$1,500 - $2,000
Clearview on the Park
31 Clearview HtsToronto, ON M6M 2A2
2903 St Clair Ave E
TorontoONM4B 1N5
159 Gladstone Ave
TorontoONM6J 3L3
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$1,515 - $2,195Studio to 2 Bedroom Apartments Available Now
464 & 448 Spadina Rd
464 & 448 Spadina RdToronto, ON M5P 3M2
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.
Toronto, ON Local Guide
How much does it cost to rent an apartment in Toronto?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Cheap Toronto Studio Apartments | $1,938 | $1,045 | $8,486 |
| Cheap Toronto 1 Bedroom Apartments | $2,460 | $895 | $10,000+ |
| Cheap Toronto 2 Bedroom Apartments | $3,222 | $900 | $10,000+ |
| Cheap Toronto 3 Bedroom Apartments | $4,092 | $1,569 | $10,000+ |
| Cheap Toronto 4 Bedroom Apartments | $5,079 | $1,384 | $10,000+ |
| Toronto 5 Bedroom Apartments | $19,393 | $8,639 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Apartments in Toronto
See all Apartments in TorontoExplore Toronto
Toronto, ON Local Guide
Written By:
Staff Writer Local Guide Expert
- Toronto Neighborhoods
- Nearby Cities
Cheapest Neighborhoods for Apartments in Toronto, ON
Pricing Updated: 05/12/2026Current apartment rentals in the Toronto, ON area range in price from $895 to $41,025 with an overall median price of $5,848. The three Toronto neighborhoods with the lowest median rent pricing are Woodbine Lumsden at $1,295, Danforth Village East York at $1,950, and Playter Estates Danforth at $1,500. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Toronto Apartments for rent:
| Neighborhood | Median Price | Min Price | Available Units |
|---|---|---|---|
| Woodbine Lumsden | $1,875 | $1,295 | 1 |
| Danforth Village East York | $1,972 | $1,950 | 1 |
| Playter Estates Danforth | $2,100 | $1,500 | 20 |
| Keelesdale Eglinton West | $2,149 | $1,499 | 5 |
| Oakwood Vaughan | $2,225 | $1,499 | 19 |
| Broadview North | $2,350 | $1,500 | 12 |
| Edenbridge Humber Valley | $2,475 | $1,599 | 11 |
| Morningside | $2,497 | $1,384 | 25 |
| Bedford Park Nortown | $2,499 | $1,579 | 28 |
| Ionview | $2,649 | $1,599 | 17 |
Cheapest Available Toronto Apartments for Rent
The cheapest available apartment rental in Toronto, ON is a Studio unit found at 7-9 Homewood Ave in the Cabbagetown S St James Town neighborhood priced from $749. 24 2nd Street Apartments in the Mimico neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $800. Here is today’s list of the most affordable Toronto apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 7-9 Homewood Ave | Room | Studio,1BA | $749 |
| 24 2nd Street Apartments | Premium Two Bedroom | 2BR,1BA | $800 |
| Bradley Court | Bachelor | Studio,1BA | $1,045 |
| 25 Mabelle | Bachelor | Studio,1BA | $1,100 |
| Bradley Courts | Bachelor with Balcony | Studio,1BA | $1,200 |
| 256-262 Sherbourne St. | 0 Bedroom(s) and 1 Bathroom(s) | Studio,1BA | $1,299 |
| Crescent Town | Bachelor | Studio,1BA | $1,329 |
| Lakeshore | Studio, 1 bath | Studio,1BA | $1,350 |
| 1011 Lansdowne Ave Apartments | Studio | Studio,1BA | $1,350 |
| 2346 Weston | Bachelor Unit | 1BR,1BA | $1,387 |
Best Value Apartments for Rent in Toronto, ON
As of May 12, 2026 the best value apartment in the Toronto area is the $1.79 price per square foot 3 Bedroom Model at Romfield Circuit in the in the Richmond Hill Vaughan King neighborhood starting from $3,500. The second greatest value Toronto apartment is the 3 Beds, 1 Baths Model at Bloor and Havenwood Townhomes starting at $2,795 with a $1.54 price per square foot in the Mississauga Centre Streetsville neighborhood. Here is today’s list of the best values for Toronto apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Romfield Circuit | 3 Bedroom | 3BR,1BA | $1.79 |
| Bloor and Havenwood Townhomes | 3 Beds, 1 Baths | 3BR,1BA | $1.54 |
| Campus Gate Residence's | Deluxe Suite | 6BR,3BA | $0.78 |
| 60-64 Henley Cres | 3 bedroom | 3BR,1BA | $1.69 |
| 85 Henderson Avenue Townhomes | 3 Beds, 1 Baths | 3BR,1BA | $1.91 |
| Golden Elms | 2 Bedroom | 2BR,1BA | $1.86 |
| Pickering Place Apartments | 3 Beds, 1 Baths | 3BR,1BA | $1.89 |
| 111 Inverlochy Boulevard | Two bedroom,one bathroom | 2BR,1BA | $1.89 |
| 53 Thorncliffe Park Drive | One Bedroom Apartment | 1BR,1BA | $1.92 |
| 630 Roselawn Apartments | 1 bedroom | 1BR,1BA | $1.78 |
Don'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.
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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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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.
Toronto Overview
Toronto is a fantastic place to call home. With thousands of available rentals all over the city, find your perfect new place with ease!
Why live in Toronto, ON?
There are a number of reasons that folks living in apartments in Toronto, and people in general, enjoy living in Toronto. It is a true melting pot of cultures, it has a variety of beautiful green spaces and entertainment options, and its a good place to get a job. Citizens of Toronto also enjoy a high quality of life, excellent health care and education prospects, and a high-octane public transportation system to get from A to B. If you enjoy that bustling big-city feel, Toronto is probably for you.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Toronto, ON Rentals by Map
See the most popular apartments and homes in Toronto, ON
Toronto, ON Area Reviews
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Dee • 4+ years in Toronto
February 25, 202530 years here ... its not impressive working people cant afford rent
Frequently Asked Questions about Cheap Toronto Apartments
What is a cheap apartment in Toronto?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Toronto is under $1,387.
What is the price of a cheap apartment in Toronto?
The cheapest apartment in Toronto is 2346 Weston which is listed at $1,387, while the average apartment in Toronto costs $5,848.
What types of apartments are the cheapest in Toronto?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 3,414 regular apartments in Toronto that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Toronto?
Cheap apartments in Toronto have an average cost of $1,316 which is $4,532 cheaper than the average rent for all rentals in Toronto.
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.