Basement and Room Available – for 1 or 2 people
26 Monarchwood Crescent
TorontoONM3A 1H4
Cheap Apartments for Rent in Toronto, ON from $700 (789 Rentals)
Search the lowest-cost Apartments available for rent right now in Toronto.
2294 Lake Shore Blvd W
TorontoONM8V 1B4
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$974 - $2,6001 to 2 Bedroom Apartments Available Apr 1
La Corona
25 Cedarcroft BlvdToronto, ON M2R 2Z3
4 Camilla Crescent
TorontoONM1L 1Z1
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$1,045Studio Apartments Contact Us For Availability
Bradley Court
280 Dundas St EToronto, ON M5A 3W1
18 Gilroy Dr
TorontoONM1P 1Z9
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$1,140 - $2,450Studio to 2 Bedroom Apartments Available Now
80 St. Clair East
80 St Clair Av EToronto, ON M4T 1N6
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$1,200Studio Apartments Contact Us For Availability
Bradley Courts
266 Sherbourne StToronto, ON M5A 2A2
88 Glen Rush Blvd
TorontoONM5N 2V1
48 Albani St
TorontoONM8V 1X2
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.
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$1,329 - $3,299
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Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,329 - $3,299
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$1,329 - $3,299
Crescent Town
7-11 Crescent PlToronto, ON M4C 5C4
273 St George St
TorontoONM5R 2P9
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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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Rent Specials
$1,400 - $1,695Studio to 1 Bedroom Apartments Available Now
Dundonald Arms
49 Dundonald StToronto, ON M4Y 1K3
58 Morningview Trl
TorontoONM1B 5A8
2938 Danforth Ave
TorontoONM4C 1M5
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$1,438 - $2,200Studio to 1 Bedroom Apartments Available Now
391 Sherbourne Street
391 Sherbourne StToronto, ON M5A 2K3
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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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$1,450 - $3,0501 to 3 Bedroom Apartments Available Now
90 Eastdale
90 Eastdale AveToronto, ON M4C 2G5
536 Huron St
TorontoONM5R 2R7
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.
2527 Lake Shore Blvd W
TorontoONM8V 1E6
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$1,467 - $2,395
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,467 - $2,395
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$1,467 - $2,395
Clearview on the Park
31 Clearview HtsToronto, ON M6M 2A2
26 Rockvale Ave
TorontoONM6E 3A9
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$1,495 - $2,550Studio to 2 Bedroom Apartments Available Apr 1
630 Roselawn Apartments
630 Roselawn AveToronto, ON M5N 1K8
2407 Lake Shore Blvd W
TorontoONM8V 1C5
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Rent Specials
$1,499 - $1,899Studio to 1 Bedroom Apartments Available Now
Serena Court
2202 Weston RdToronto, ON M9N 1Y1
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$1,499 - $2,800
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,499 - $2,800
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$1,499 - $2,800
22 Oakmount
22 Oakmount RdToronto, ON M6P 2M7
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$1,499 - $2,099Studio to 2 Bedroom Apartments Available Now
Gertrude Suites
787 Vaughan RdToronto, ON M6E 2Z5
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Rent Specials
$1,4991 Bedroom Apartments Available Now
2938 Danforth Ave
2938 Danforth AveToronto, ON M4C 1M5
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$1,500 - $2,300
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,500 - $2,300
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Goodwood Apartments
100-108 Goodwood Park CtToronto, ON M4C 5C4
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.
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$1,500 - $2,100
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Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,500 - $2,100
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$1,500 - $2,100
15 Bater Ave
15 Bater AveToronto, ON M4K 2S4
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$1,500
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Studio Apartments Available NowTotal Monthly Price
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$1,500
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$1,500
2110 Keele Street
2110 Keele StToronto, ON M6M 2L6
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$1,500 - $2,650Studio to 3 Bedroom Apartments Available Now
25 Mabelle
25 Mabelle AveToronto, ON M9A 4Y1
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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
2903 St Clair Ave E
TorontoONM4B 1N5
159 Gladstone Ave
TorontoONM6J 3L3
50 Old Yonge St
TorontoONM2P 1P7
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Rent Specials
$1,515 - $2,6951 to 2 Bedroom Apartments Available Now
464 & 448 Spadina Rd
464 & 448 Spadina RdToronto, ON M5P 3M2
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$1,515 - $2,790Studio to 2 Bedroom Apartments Available Now
Brentwood Towers
23 Lascelles BlvdToronto, ON M4V 1Z6
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$1,520 - $2,610Studio to 2 Bedroom Apartments Available Apr 1
680 Roselawn Avenue
680 Roselawn AveToronto, ON M5N 1L3
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
432 Jarvis St
TorontoONM4Y 2H3
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$1,530 - $2,550Studio to 2 Bedroom Apartments Available May 1
Yonge Eglinton Apartments
460 Eglinton Ave EToronto, ON M4P 1M3
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$1,549 - $2,999Studio to 2 Bedroom Apartments Available Now
The Crossways
2340-2360 Dundas St WToronto, ON M6P 4A9
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$1,549 - $2,435Studio to 2 Bedroom Apartments Available Apr 1
Upper Canada Court, Centre
140 Erskine AvToronto, ON M4P 1Z2
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$1,550 - $2,950Studio to 3 Bedroom Apartments Available Now
260 Wellesley St E
260 Wellesley St EToronto, ON M4X 1R2
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$1,550 - $2,750
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Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,550 - $2,750
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$1,550 - $2,750
Castlegate Apartments
39-45 Parkcrest DrToronto, ON M1M 3S6
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$1,550 - $1,850Studio to 2 Bedroom Apartments Available Now
200 Roehampton
200 Roehampton AvToronto, ON M4R 1R8
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$1,550 - $2,200
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$1,550 - $2,200
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$1,550 - $2,200
2355 Lake Shore Blvd W
2355 Lake Shore Blvd WToronto, ON M8V 1B7
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$1,550 - $2,100
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Studio to 1 Bedroom Apartments Available NowTotal Monthly Price
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$1,550 - $2,100
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$1,550 - $2,100
30 Springhurst Ave
30 Springhurst AveToronto, ON M6K 1B3
577 Annette St
TorontoONM6S 2C3
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
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 | $1,990 | $1,045 | $10,000+ |
| Cheap Toronto 1 Bedroom Apartments | $2,429 | $895 | $10,000+ |
| Cheap Toronto 2 Bedroom Apartments | $3,229 | $950 | $10,000+ |
| Cheap Toronto 3 Bedroom Apartments | $4,208 | $1,569 | $10,000+ |
| Cheap Toronto 4 Bedroom Apartments | $6,516 | $1,384 | $10,000+ |
| Toronto 5 Bedroom Apartments | $24,045 | $10,000 | $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: 03/26/2026Current apartment rentals in the Toronto, ON area range in price from $895 to $31,361 with an overall median price of $4,917. The three Toronto neighborhoods with the lowest median rent pricing are Woodbine Lumsden at $1,850, Keelesdale Eglinton West at $1,599, and Dorset Park at $1,125. 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 | $1,850 | $1,850 | 1 |
| Keelesdale Eglinton West | $1,925 | $1,599 | 4 |
| Dorset Park | $2,100 | $1,125 | 7 |
| Lawrence Park North | $2,210 | $1,550 | 2 |
| Oakwood Vaughan | $2,225 | $1,475 | 11 |
| Mount Dennis | $2,299 | $1,550 | 1 |
| Broadview North | $2,350 | $1,500 | 9 |
| Leaside Bennington | $2,350 | $1,500 | 12 |
| Morningside | $2,495 | $1,384 | 25 |
| Islington City Centre North | $2,510 | $1,500 | 76 |
Cheapest Available Toronto Apartments for Rent
The cheapest available apartment rental in Toronto, ON is a Studio unit found at 80 St. Clair East in the Moore Park neighborhood priced from $1,140. Crescent Town in the Crescent Town neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,329. Here is today’s list of the most affordable Toronto apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 80 St. Clair East | Bachelor | Studio,1BA | $1,140 |
| Crescent Town | Bachelor | Studio,1BA | $1,329 |
| Carrying Place Vista | Bachelor Unit | 1BR,1BA | $1,387 |
| The Quad at York Phase 2 | 2-2S2 | 2BR,2BA | $1,399 |
| Dundonald Arms | Bachelor | Studio,1BA | $1,400 |
| Truman St Clair | Truman | Studio,1BA | $1,400 |
| Mimico Estates | 0 Beds, 1 Baths | Studio,1BA | $1,450 |
| 90 Eastdale | Suite 6 | 1BR,1BA | $1,450 |
| Clearview on the Park | Bachelor | Studio,1BA | $1,467 |
| 166 Eastbourne Ave | 1-Bedroom* | 1BR,1BA | $1,495 |
Best Value Apartments for Rent in Toronto, ON
As of March 26, 2026 the best value apartment in the Toronto area is the $1.54 price per square foot 3 Beds, 1 Baths Model at Bloor and Havenwood Townhomes in the in the Mississauga Centre Streetsville neighborhood starting from $2,795. The second greatest value Toronto apartment is the Luxury Suite Model at Campus Gate Residence's starting at $1,795 with a $1.00 price per square foot in the Agincourt Malvern 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. |
|---|---|---|---|
| Bloor and Havenwood Townhomes | 3 Beds, 1 Baths | 3BR,1BA | $1.54 |
| Campus Gate Residence's | Luxury Suite | 6BR,3BA | $1.00 |
| 85 Henderson Avenue Townhomes | 3 Beds, 1 Baths | 3BR,1BA | $1.91 |
| Golden Elms | 2 Bedroom | 2BR,1BA | $1.86 |
| 145 Elinor Avenue | two bedroom townhouse, 1 bath | 2BR,1BA | $1.79 |
| Pickering Place Apartments | 3 Beds, 1 Baths | 3BR,1BA | $1.89 |
| 5062-5078 Dundas West | 3 Bed 1 Bath A | 3BR,1BA | $1.80 |
| 101 Driftwood Ave | Renovated Two bedroom | 2BR,1BA | $1.92 |
| 38 Dixington Crescent | 1 Bed, 1 Bath | 1BR,1BA | $1.94 |
| 53 Thorncliffe Park Drive | One Bedroom Apartment | 1BR,1BA | $1.92 |
10 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.
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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.
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
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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 $1,495.
What is the price of a cheap apartment in Toronto?
The cheapest apartment in Toronto is Carrying Place Vista which is listed at $1,387, while the average apartment in Toronto costs $4,917.
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 2,740 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 $1,273 which is $3,644 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
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.
18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.
A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.
Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.