Cheap Apartments for Rent with Specials in Toronto, ON from $700 (204 Rentals)

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Rental Listings with Specials.

Cheap Apartments in Toronto.

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650 Parliament St
Rent Specials
$1,400 - $2,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,400 - $2,400
Total Monthly Price
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Studio to 2 Bedroom Apartments Available Now

650 Parliament St

650 Parliament StToronto, ON M4X 1P8
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260 Wellesley St E
Rent Specials
$1,450 - $2,950
Total Monthly Price

Total Monthly Price

Base Rent
$1,450 - $2,950
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

260 Wellesley St E

260 Wellesley St EToronto, ON M4X 1R2
Affordability
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  • Utilities Included
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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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30 Springhurst Ave
Rent Specials
$1,500 - $2,100
Total Monthly Price

Total Monthly Price

Base Rent
$1,500 - $2,100
Total Monthly Price
$1,500 - $2,100
Studio to 1 Bedroom Apartments Available Now

30 Springhurst Ave

30 Springhurst AveToronto, ON M6K 1B3
Student Housing
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  • Utilities Included
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Clearview on the Park
Rent Specials
$1,500 - $2,000
Total Monthly Price

Total Monthly Price

Base Rent
$1,500 - $2,000
Total Monthly Price
$1,500 - $2,000
Studio to 2 Bedroom Apartments Available Now

Clearview on the Park

31 Clearview HtsToronto, ON M6M 2A2
Student Housing
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  • 3D Tour

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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Doversquare Apartments
Rent Specials
$1,550 - $2,299
Total Monthly Price

Total Monthly Price

Base Rent
$1,550 - $2,299
Total Monthly Price
$1,550 - $2,299
Studio to 2 Bedroom Apartments Available Now

Doversquare Apartments

730 Dovercourt RdToronto, ON M6H 2W9
Student Housing
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  • Utilities Included
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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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470 Sentinel Road
Rent Specials
$1,579 - $2,650
Total Monthly Price

Total Monthly Price

Base Rent
$1,579 - $2,650
Total Monthly Price
$1,579 - $2,650
Studio to 3 Bedroom Apartments Contact Us For Availability

470 Sentinel Road

470 Sentinel RdToronto, ON M3J 1V6
Student Housing
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Huntley Apartments
Rent Specials
$1,590 - $2,580
Total Monthly Price

Total Monthly Price

Base Rent
$1,590 - $2,580
Total Monthly Price
$1,590 - $2,580
Studio to 2 Bedroom Apartments Available Now

Huntley Apartments

77 Huntley StToronto, ON M4Y 2L1
Student Housing
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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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Northwoods Village
Rent Specials
$1,599 - $2,649
Total Monthly Price

Total Monthly Price

Base Rent
$1,599 - $2,649
Total Monthly Price
$1,599 - $2,649
Studio to 4 Bedroom Apartments Available Now

Northwoods Village

32-51 Brookwell DrToronto, ON M3M 2Y1
Student Housing
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100 Alexander Street
Rent Specials
$1,600 - $2,149
Total Monthly Price

Total Monthly Price

Base Rent
$1,600 - $2,149
Total Monthly Price
$1,600 - $2,149
Studio to 3 Bedroom Apartments Available Now

100 Alexander Street

100 Alexander StToronto, ON M4Y 1B7
Student Housing
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  • Utilities Included
  • 3D Tour

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.

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Toronto, ON Local Guide

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.

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The 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.

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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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Quick 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.

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Location, Location, Location!

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Toronto, ON Area Reviews

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Dee • 4+ years in Toronto

February 25, 2025

30 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 2346 Weston which is listed at $1,387, while the average apartment in Toronto costs $4,817.

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 2,894 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 $1,298 which is $3,519 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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

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.

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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.

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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.

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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.