Cheap Apartments for Rent in Toronto, ON from $700 (661 Rentals) Page 2 of 14

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

property at 1 Homewood Ave

$1,600 - $1,799

Studio To 1 Bedroom Rentals

Available Now

1 Homewood Ave

TorontoONM4Y 2J8
property at 2928 Yonge St

$1,630 - $2,450

Studio To 2 Bedroom Rentals

Available Now

2928 Yonge St

TorontoONM4N 2J9
property at 411 Duplex Ave

$1,640 - $2,895

Studio To 2 Bedroom Rentals

Available Now

411 Duplex Ave

TorontoONM4R 1V2
property at 370 McCowan Rd

$1,650 - $2,295

Studio To 2 Bedroom Rentals

Available Now

370 McCowan Rd

TorontoONM1J 1J3
property at 100 Wellesley St E

$1,500 - $2,695

Studio To 3 Bedroom Rentals

Available Now

100 Wellesley St E

TorontoONM4Y 1H5
Showing Results 51-100, Page 2 of 14

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 $1,438.

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 $3,313.

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 1,314 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 $865 which is $2,448 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 Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.