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$1,069 - $2,499Built in 20261 to 4 Bedroom Apartments Available Sep 3
The Els - Student Living
3070 Ellesmere RdToronto, ON M1E 4C3
Cheap New Apartments for Rent in Toronto, ON from $700 (17 Rentals)
Search the lowest-cost Apartments available for rent right now in Toronto.
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$1,387 - $1,898Built in 20241 Bedroom Apartments Available Now
2346 Weston
2346 Weston RdToronto, ON M9N
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Rent Specials
$1,668 - $2,400
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Built in 20241 Bedroom Apartments Available Aug 1Total Monthly Price
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$1,668 - $2,400
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$1,668 - $2,400
Cliffside Apartments
2382 Kingston RdToronto, ON M1N 0C5
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$1,700 - $3,300Built in 2026Studio to 3 Bedroom Apartments Available Now
Highland Commons
1625 Military TrlToronto, ON M1C
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Rent Specials
$1,742 - $4,300
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Built in 20241 to 4 Bedroom Apartments Available NowTotal Monthly Price
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$1,742 - $4,300
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$1,742 - $4,300
Bela Square
100 Eastdale AvToronto, ON M4C 0B6
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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$1,750 - $4,483Built in 2026Studio to 3 Bedroom Apartments Available Sep 1
Station House on Bloor
65 Collegiate RdToronto, ON M6H 0K2
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$1,795 - $2,200Built in 2022Studio to 1 Bedroom Apartments Available Now
Tippett Park
18 Tretti WayToronto, ON M3H 2V1
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$1,825 - $3,030
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Built in 2018Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,825 - $3,030
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$1,825 - $3,030
20 Samuel Wood
20 Samuel Wood WayToronto, ON M9B 0C8
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$1,857 - $3,677
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Built in 2025Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,857 - $3,677
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$1,857 - $3,677
The Quay - Tower III
370 Queens Quay WToronto, ON M5V 3J3
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$1,895 - $5,395
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Built in 2024Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,895 - $5,395
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$1,895 - $5,395
Bridge
1060 Eastern AvToronto, ON M4L 0B8
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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$1,900 - $3,750Built in 2021Studio to 3 Bedroom Apartments Available Now
EVOLV
25 Nicholas AveToronto, ON M5A 1X9
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$1,295 - $2,020Built in 20171 to 4 Bedroom Apartments
The Quad at York Phase 2
95 The Pond RdToronto, ON M3J 0L1
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$1,450 - $2,700Built in 2016Studio to 3 Bedroom Apartments
Campbell Lofts
2870 Dundas St WToronto, ON M6P 1Y8
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$1,579 - $2,650Built in 2021Studio to 3 Bedroom Apartments
40 Fountainhead
40 Fountainhead RdToronto, ON M3J 2V1
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$1,675 - $2,625Built in 2018Studio to 2 Bedroom Apartments
555 Sherbourne St
555 Sherbourne StToronto, ON M4X 1W6
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.
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$1,800 - $2,550Built in 2022Studio to 2 Bedroom Apartments
ORCA
2 Main StToronto, ON M4E 0B5
2 Lytton Blvd
Richmond HillONL4B 3H2
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Toronto, ON Local Guide
How much does it cost to rent an apartment in Toronto?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Toronto Studio Apartments | $2,050 | $1,045 | $7,301 |
| Toronto 1 Bedroom Apartments | $2,527 | $895 | $10,000+ |
| Toronto 2 Bedroom Apartments | $3,248 | $1,350 | $10,000+ |
| Toronto 3 Bedroom Apartments | $3,999 | $1,569 | $10,000+ |
| Toronto 4 Bedroom Apartments | $5,121 | $1,069 | $10,000+ |
| Toronto 5 Bedroom Apartments | $14,950 | $1,000 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Explore Toronto
Toronto, ON Local Guide
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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.
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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.
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 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 $1,375.
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 $5,522.
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 3,140 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 $1,194 which is $4,328 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
Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.
Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.
Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.