Cheap Apartments for Rent in Toronto, ON from $700 with Washer/Dryer (48 Rentals)

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Search the lowest-cost Apartments available for rent right now in Toronto.

property at 395 Bloor St W

$1,180 - $1,240

3 Bedroom Rentals

Available Now

395 Bloor St W

TorontoONM5S 1W5
property at 41 River St

$1,200 - $1,450

3 Bedroom Rentals

Available Now

41 River St

TorontoONM5A 3P1

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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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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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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property at 350 Winona Dr

$1,850

1 Bedroom, 1 Bath Home for Rent

Available Now

350 Winona Dr

TorontoONM6C 3T3
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1011 Lansdowne Ave Apartments
$1,350 - $2,500Studio to 2 Bedroom Apartments

1011 Lansdowne Ave Apartments

1011 Lansdowne AveToronto, ON M6H 4G1
Student Housing
  • Utilities Included

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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1570 Lawrence Ave West
$1,628 - $2,1491 to 3 Bedroom Apartments

1570 Lawrence Ave West

1570 Lawrence Ave WToronto, ON M6M 4K6
  • Utilities Included
  • Smoke Free
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Islington Towers
$1,650 - $2,575Studio to 3 Bedroom Apartments

Islington Towers

1276 Islington AveToronto, ON M9A 3J9
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New Garden Residences
$1,750 - $3,650Studio to 2 Bedroom Apartments

New Garden Residences

211 Jarvis StToronto, ON M5B 2C1
Corporate Housing
  • Utilities Included
  • Smoke Free
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1525 Wilson Ave
$1,8001 Bedroom Apartments

1525 Wilson Ave

1525 Wilson AveToronto, ON M3M 1J7
  • Utilities Included
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5249 Dundas Street W
$1,824 - $2,910Studio to 2 Bedroom Apartments

5249 Dundas Street W

5249 Dundas St WToronto, ON M9B 1A5
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Velocity at the Square
$1,850 - $5,500Studio to 2 Bedroom Apartments

Velocity at the Square

252 Victoria StToronto, ON M5B 1V8
Student Housing
  • Utilities Included
  • Smoke Free
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35 Walmer Road
$1,895 - $3,247Studio to 3 Bedroom Apartments

35 Walmer Road

35 Walmer RdToronto, ON M5R 2X3
  • Utilities Included
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450 Winona Drive
$1,900Studio to 2 Bedroom Apartments

450 Winona Drive

450 Winona DrToronto, ON M6E 3P9

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.

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55 Livingston Rd
$1,900 - $5,5001 to 3 Bedroom Apartments

55 Livingston Rd

55 Livingston RdToronto, ON M1E 1A7
  • Utilities Included
  • Smoke Free
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3141 Jaguar Valley
$1,371 - $2,400Studio to 3 Bedroom Apartments

3141 Jaguar Valley

3141 Jaguar Valley DrMississauga, ON L5A 2J5
  • Utilities Included
  • Smoke Free
Showing Results 1-48, Page 1 of 1

Toronto, ON Local Guide

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Toronto, ON Rentals by Map

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See the most popular apartments and homes in Toronto, ON

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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 $1,499.

What is the price of a cheap apartment in Toronto?

The cheapest apartment in Toronto is Carrying Place Vista which is listed at $1,313, while the average apartment in Toronto costs $3,301.

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 1,311 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 $864 which is $2,437 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

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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!