Cheap Apartments for Rent in the Bay Street Corridor Neighborhood of Toronto, ON from $1,400 (42 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Bay Street Corridor area of Toronto.

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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property at 100 Wellesley St E

$1,500 - $2,695

Studio To 3 Bedroom Rentals

Available Now

100 Wellesley St E

TorontoONM4Y 1H5

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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44 Huntley St
$1,495 - $1,645Studio to 2 Bedroom Apartments

44 Huntley St

44 Huntley StToronto, ON M4Y 1P2
Student Housing
  • Utilities Included
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WELLESLEY APARTMENTS
$1,500 - $2,250Studio to 2 Bedroom Apartments

WELLESLEY APARTMENTS

138-142 Wellesley St EToronto, ON M4Y 2K4
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JARVIS COURT APARTMENTS
$1,525 - $1,725Studio to 1 Bedroom Apartments

JARVIS COURT APARTMENTS

432 Jarvis StToronto, ON M4Y 2H3
  • Utilities Included
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Bloor Yonge Tower
$1,600Studio to 2 Bedroom Apartments

Bloor Yonge Tower

60 Gloucester StToronto, ON M4Y 1L5
  • Utilities Included
  • Smoke Free
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48 Isabella St Apartments
$1,650Studio to 2 Bedroom Apartments

48 Isabella St Apartments

48 Isabella StToronto, ON M4Y 1N3
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Gloucester
$1,6501 Bedroom Apartments

Gloucester

83 Gloucester LnToronto, ON M4Y 1L5
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134-146 Dundas St W
$1,750 - $2,4951 to 2 Bedroom Apartments

134-146 Dundas St W

134-146 Dundas St WToronto, ON M5G 1C6
  • Utilities Included
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Westbury Manor
$1,750 - $2,2501 to 2 Bedroom Apartments

Westbury Manor

414 Jarvis StToronto, ON M4Y 2G6
  • Utilities Included
  • Smoke Free

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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Isabella Court
$1,795 - $2,150Studio to 1 Bedroom Apartments

Isabella Court

33 Isabella StToronto, ON M4Y 1M8
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Village Green Community
$1,800 - $3,500Studio to 3 Bedroom Apartments

Village Green Community

50 Alexander StToronto, ON M4Y 1B6
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135 Earl Pl
$1,800 - $2,500Studio to 1 Bedroom Apartments

135 Earl Pl

135 Earl PlToronto, ON M4Y 1M4
Furnished
  • Utilities Included
  • Smoke Free
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Grange Tower
$1,850 - $3,700Studio to 3 Bedroom Apartments

Grange Tower

20 St Patrick StToronto, ON M5T 2Y4
  • Utilities Included
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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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91 Wellesley Street
$1,899Studio to 2 Bedroom Apartments

91 Wellesley Street

91 Wellesley St EToronto, ON M4Y 1H9
  • Utilities Included

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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120 Maitland Street
$1,900Studio to 1 Bedroom Apartments

120 Maitland Street

120 Maitland StToronto, ON M4Y 1E4
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The Maitlands
$2,059Studio to 2 Bedroom Apartments

The Maitlands

36-42 Maitland StToronto, ON M4Y 1C5
  • Utilities Included
Showing Results 1-42, Page 1 of 1

Cheapest Available Bay Street Corridor Apartments for Rent

 

The cheapest available apartment rental in the Bay Street Corridor area of Toronto, ON is a Studio unit found at Dundonald Arms priced from $1,400. 550 Jarvis St has the second lowest priced unit, which is a Studio apartment currently listed from $1,599. Here are the most affordable Bay Street Corridor apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Dundonald ArmsBachelorStudio,1BA$1,400
550 Jarvis StBachelor ApartmentStudio,1BA$1,599
96 Isabella The Arms ApartmentsBachelorStudio,1BA$1,600
608 Church StreetBachelor*Studio,1BA$1,601
GloucesterJr 1 Bedroom1BR,1BA$1,650
Wellesley Apartments0 Beds, 1 BathsStudio,1BA$1,650
The MaplesBachelorStudio,1BA$1,699
College ParkBachelorStudio,1BA$1,712
Village GreenSAStudio,1BA$1,735
592-596 Church St & 67-71 Gloucester StOne Bedroom1BR,1BA$1,799

Best Value Apartments for Rent in Bay Street Corridor, ON

As of January 11, 2026 the best value apartment in the Bay Street Corridor area is the $4.07 price per square foot 2 Bedroom Two Bath Model at The Colonnade in the in the Bay Street Corridor neighborhood starting from $5,495. The second greatest value Bay Street Corridor apartment is the 2 bedroom Model at 25 St. Mary Street starting at $2,597 with a $2.91 price per square foot in the Bay Street Corridor neighborhood. Here is today’s list of the best values for Bay Street Corridor apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Colonnade2 Bedroom Two Bath2BR,2BA$4.07
25 St. Mary Street2 bedroom2BR,1BA$2.91
The WessexTwo Bedroom + Balcony2BR,1BA$3.25
135 Isabella St1 Bedroom1BR,1BA$3.40
College ParkBachelorStudio ,1BA$2.80
The Lincoln1 Bedroom(s) and 1 Bathroom(s)1BR,1BA$3.79
66 Isabella StOne Bedroom1BR,1BA$3.75
Dundonald ArmsBachelorStudio ,1BA$2.80
96 Isabella The Arms ApartmentsBachelorStudio ,1BA$3.44
40 Gerrard Street East Apartments0 Bedroom(s) and 1 Bathroom(s)Studio ,1BA$4.07

Frequently Asked Questions about Cheap Bay Street Corridor Apartments

What is a cheap apartment in Bay Street Corridor?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Bay Street Corridor is under $1,799.

What is the price of a cheap apartment in Bay Street Corridor?

The cheapest apartment in Bay Street Corridor is Dundonald Arms which is listed at $1,495, while the average apartment in Bay Street Corridor costs $4,825.

What types of apartments are the cheapest in Bay Street Corridor?

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 82 regular apartments in Bay Street Corridor 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 Bay Street Corridor?

Cheap apartments in Bay Street Corridor have an average cost of $1,545 which is $3,280 cheaper than the average rent for all rentals in Bay Street Corridor.

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 A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment article

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.

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.

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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!