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$1,384 - $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 (19 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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$1,700 - $3,300Built in 2026Studio to 3 Bedroom Apartments Available Now
Highland Commons
1625 Military TrlToronto, ON M1C
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$1,705 - $3,030
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Built in 2018Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,705 - $3,030
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$1,705 - $3,030
20 Samuel Wood
20 Samuel Wood WayToronto, ON M9B 0C8
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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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$1,763 - $4,650Built in 2019Studio to 2 Bedroom Apartments Contact Us For Availability
31 Phipps Street
31 Phipps StToronto, ON M4Y 0E5
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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$1,800 - $2,400
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Built in 20241 Bedroom Apartments Available NowTotal Monthly Price
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$1,800 - $2,400
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$1,800 - $2,400
Cliffside Apartments
2382 Kingston RdToronto, ON M1N 0C5
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$1,820 - $3,050Built in 2022Studio to 3 Bedroom Apartments Available Now
Tippett Park
18 Tretti WayToronto, ON M3H 2V1
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$1,822 - $3,802Built in 2022Studio to 2 Bedroom Apartments Available Now
Liberty House
15 Solidarity WayToronto, ON M6K 0G8
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$1,840 - $5,500
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Built in 2024Studio to 3 Bedroom Apartments Available NowTotal Monthly Price
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$1,840 - $5,500
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$1,840 - $5,500
Mirvish Village
748 Bathurst StToronto, ON M5S 0C7
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$1,867 - $2,624Built in 2021Studio to 2 Bedroom Apartments Available Now
5249 Dundas Street W
5249 Dundas St WToronto, ON M9B 1A5
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$1,899 - $3,312Built in 2021Studio to 2 Bedroom Apartments Available Now
The Livmore High Park
55 Quebec AveToronto, ON M6P 2T3
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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$1,295 - $1,875Built 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
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$1,753 - $2,550Built in 2022Studio to 2 Bedroom Apartments
ORCA
2 Main StToronto, ON M4E 0B5
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$1,900 - $5,500Built in 2017Studio to 2 Bedroom Apartments
Velocity at the Square
252 Victoria StToronto, ON M5B 1V8
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.
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 | $1,925 | $1,045 | $8,604 |
| Toronto 1 Bedroom Apartments | $2,415 | $895 | $10,000+ |
| Toronto 2 Bedroom Apartments | $3,180 | $900 | $10,000+ |
| Toronto 3 Bedroom Apartments | $4,066 | $1,569 | $10,000+ |
| Toronto 4 Bedroom Apartments | $4,710 | $1,384 | $10,000+ |
| Toronto 5 Bedroom Apartments | $14,119 | $10,000 | $10,000+ |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
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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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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!
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See the most popular apartments and homes in Toronto, ON
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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 $1,395.
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 $4,176.
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 3,381 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 $1,326 which is $2,850 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.