Cheap Apartments for Rent in Toronto, ON from $700 with Washer/Dryer (59 Rentals)

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

property at 326 High Park Av

$1,395

Total Monthly Price

Total Monthly Price

Base Rent
$1,395
Total Monthly Price
$1,395

1 Bedroom, 1 Bath Home for Rent

Available Jul 1

326 High Park Av

TorontoONM6P 2S7
property at 178 Kennedy Rd

$1,090 - $1,590

1 To 2 Bedroom Rentals

Available Now

178 Kennedy Rd

TorontoONM1N 3P3
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7 Hambly Av, Unit Lower
$1,595
Total Monthly Price

Total Monthly Price

Base Rent
$1,595
Total Monthly Price
$1,595
Studio Apartment Available Now

7 Hambly Av, Unit Lower

7 Hambly AvToronto, ON M4E 2R5
Affordability
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2837 Yonge Street
Rent Specials
$1,599 - $2,799
Total Monthly Price

Total Monthly Price

Base Rent
$1,599 - $2,799
Total Monthly Price
$1,599 - $2,799
Studio to 2 Bedroom Apartments Available Now

2837 Yonge Street

2837 Yonge StToronto, ON M4N 2J6
Furnished
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  • Utilities Included
  • Smoke Free
property at 1 Southmead Rd

$1,600

Total Monthly Price

Total Monthly Price

Base Rent
$1,600
Total Monthly Price
$1,600

2 Bedroom, 1 Bath Home for Rent

Available Now

1 Southmead Rd

TorontoONM1L 2H7

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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property at 36 Brunswick Ave

$1,650 - $3,750

Studio To 3 Bedroom Rentals

Available Now

36 Brunswick Ave

TorontoONM5S 2L7
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Commonwealth Towers
$1,737 - $3,497
Total Monthly Price

Total Monthly Price

Base Rent
$1,737 - $3,497
Total Monthly Price
$1,737 - $3,497
Studio to 2 Bedroom Apartments Available Now

Commonwealth Towers

40-60 Pleasant BlvdToronto, ON M4T 1J9
Eco-Friendly
  • Verified
  • Utilities Included
  • 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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Bela Square
Rent Specials
$1,742 - $4,300
Total Monthly Price

Total Monthly Price

Base Rent
$1,742 - $4,300
Total Monthly Price
$1,742 - $4,300
1 to 4 Bedroom Apartments Available Now

Bela Square

100 Eastdale AvToronto, ON M4C 0B6
Student Housing
  • Verified
  • Utilities Included
  • 3D Tour
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30 Gilder Dr
Rent Specials
$1,799 - $2,199
Total Monthly Price

Total Monthly Price

Base Rent
$1,799 - $2,199
Total Monthly Price
$1,799 - $2,199
1 to 2 Bedroom Apartments Available Now

30 Gilder Dr

30 Gilder DrToronto, ON M1K 4P6
Senior Living
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property at 23 Howland Rd

$1,800

1 Bedroom, 1 Bath Home for Rent

Available Now

23 Howland Rd

TorontoONM4K 2Z4

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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Cliffside Apartments
Rent Specials
$1,800 - $2,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,800 - $2,400
Total Monthly Price
$1,800 - $2,400
1 Bedroom Apartments Available Now

Cliffside Apartments

2382 Kingston RdToronto, ON M1N 0C5
Affordability
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  • 3D Tour
  • Smoke Free
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Mirvish Village
Rent Specials
$1,840 - $5,420
Total Monthly Price

Total Monthly Price

Base Rent
$1,840 - $5,420
Total Monthly Price
$1,840 - $5,420
Studio to 3 Bedroom Apartments Available Now

Mirvish Village

748 Bathurst StToronto, ON M5S 0C7
Student Housing
  • Verified
  • 3D Tour
  • Smoke Free
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One32
$1,850 - $3,085
Total Monthly Price

Total Monthly Price

Base Rent
$1,850 - $3,085
Total Monthly Price
$1,850 - $3,085
Studio to 3 Bedroom Apartments Available Now

One32

132 Berkeley StToronto, ON M5A 0H6
Student Housing
  • Verified
  • Utilities Included
  • 3D Tour
property at 718 Coxwell Av

$1,850

Total Monthly Price

Total Monthly Price

Base Rent
$1,850
Total Monthly Price
$1,850

2 Bedroom, 1 Bath Home for Rent

Available Jul 1

718 Coxwell Av

TorontoONM4C 3C2
property at 172 Humbercrest Blvd

$1,850

Total Monthly Price

Total Monthly Price

Base Rent
$1,850
Total Monthly Price
$1,850

Studio, 1.5 Bath Home for Rent

Available Jul 1

172 Humbercrest Blvd

TorontoONM6S 4L3
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The Quay - Tower III
Rent Specials
$1,857 - $3,677
Total Monthly Price

Total Monthly Price

Base Rent
$1,857 - $3,677
Total Monthly Price
$1,857 - $3,677
Studio to 3 Bedroom Apartments Available Now

The Quay - Tower III

370 Queens Quay WToronto, ON M5V 3J3
Student Housing
  • Verified
  • Utilities Included
  • 3D Tour

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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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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Forest Hill Residences
$1,799Studio to 4 Bedroom Apartments

Forest Hill Residences

780 Eglinton Ave WToronto, ON M5N 2N6
  • Utilities Included
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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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Forest Suites
$1,8751 to 4 Bedroom Apartments

Forest Suites

130 Parkway Forest DrToronto, ON M2J 0B8
  • Smoke Free

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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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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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Remember the 3 Rules of Real Estate:
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 $1,399.

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 $4,767.

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 3,239 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 $1,155 which is $3,612 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 How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

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.

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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.

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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.

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.