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$1,119 - $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 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in Toronto.
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$1,622 - $4,299Built in 2026Studio to 3 Bedroom Apartments Available Sep 1
Station House on Bloor
65 Collegiate RdToronto, ON M6H 0K2
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$1,625 - $2,625Built in 2018Studio to 2 Bedroom Apartments Contact Us For Availability
555 Sherbourne St
555 Sherbourne StToronto, ON M4X 1W6
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$1,668 - $3,000
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Built in 20241 to 3 Bedroom Apartments Available Sep 1Total Monthly Price
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$1,668 - $3,000
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$1,668 - $3,000
Cliffside Apartments
2382 Kingston RdToronto, ON M1N 0C5
49 Hook Av
TorontoONM6P 1T3
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$1,704 - $3,569Built in 2022Studio to 2 Bedroom Apartments Available Now
Liberty House
15 Solidarity WayToronto, ON M6K 0G8
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$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
First Apartment Regrets: Real Renters Share What They'd Do Differently
Your first apartment comes with a learning curve nobody warns you about. Hear from real renters who've been there and get the advice they wish someone had given them on day one.
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$1,750 - $2,515Built in 2022Studio to 2 Bedroom Apartments Available Now
Tippett Park
18 Tretti WayToronto, ON M3H 2V1
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$1,781 - $3,849Built in 2021Studio to 2 Bedroom Apartments Available Now
The Livmore High Park
55 Quebec AveToronto, ON M6P 2T3
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$1,832 - $2,974Built in 2021Studio to 2 Bedroom Apartments Available Now
5249 Dundas Street W
5249 Dundas St WToronto, ON M9B 1A5
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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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$1,890 - $3,225Built in 2023Studio to 3 Bedroom Apartments Available Now
The Campbell
299 Campbell AveToronto, ON M6P 0C2
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$1,895 - $3,500
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Built in 2026Studio to 2 Bedroom Apartments Available NowTotal Monthly Price
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$1,895 - $3,500
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$1,895 - $3,500
Halsa
230 Royal York RdToronto, ON M8V 2V9
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$1,295 - $1,940Built in 20171 to 4 Bedroom Apartments
The Quad at York Phase 2
95 The Pond RdToronto, ON M3J 0L1
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.
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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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$1,650 - $4,275
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Built in 2022Studio to 4 Bedroom Apartments Total Monthly Price
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$1,650 - $4,275
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$1,650 - $4,275
2Fifteen
215 Lonsdale RdToronto, ON M4V 2K8
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$1,700 - $3,300Built in 2026Studio to 3 Bedroom Apartments
Highland Commons
1625 Military TrlToronto, ON M1C
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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
6 Flavelle Trl
VaughanONL4L 1V8
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
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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 | $1,912 | $1,045 | $8,145 |
| Toronto 1 Bedroom Apartments | $2,385 | $895 | $10,000+ |
| Toronto 2 Bedroom Apartments | $3,144 | $1,450 | $10,000+ |
| Toronto 3 Bedroom Apartments | $3,958 | $1,569 | $10,000+ |
| Toronto 4 Bedroom Apartments | $4,308 | $1,119 | $8,663 |
| Toronto 5 Bedroom Apartments | $13,471 | $9,171 | $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
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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.
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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 $1,400.
What is the price of a cheap apartment in Toronto?
The cheapest apartment in Toronto is Robina Suites which is listed at $1,399, while the average apartment in Toronto costs $2,553.
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 2,866 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 $1,152 which is $1,401 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
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.
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.