Cheap Homes for Rent in Bay Street Corridor Neighborhood of Toronto, ON from $1,400 (386 Rentals)

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

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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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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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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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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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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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. Mid-Town Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,529. Here are the most affordable Bay Street Corridor apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Dundonald ArmsBachelorStudio,1BA$1,400
Mid-Town ApartmentsBachelor B1Studio,1BA$1,529
550 Jarvis StBachelor ApartmentStudio,1BA$1,599
96 Isabella The Arms ApartmentsBachelorStudio,1BA$1,600
Wellesley Apartments0 Beds, 1 BathsStudio,1BA$1,610
Village GreenSFStudio,1BA$1,675
608 Church StreetBachelor*Studio,1BA$1,725
The MaplesBachelorStudio,1BA$1,749
The Lincoln0 Bedroom(s) and 1 Bathroom(s)Studio,1BA$1,750
40 Gerrard Street East Apartments0 Bedroom(s) and 1 Bathroom(s)Studio,1BA$1,799

Best Value Apartments for Rent in Bay Street Corridor, ON

As of June 20, 2026 the best value apartment in the Bay Street Corridor area is the $3.29 price per square foot 2 Bedroom - 03 Model at Bay Charles Tower in the in the Bay Street Corridor neighborhood starting from $3,499. The second greatest value Bay Street Corridor apartment is the 2 Bedroom Model at The Colonnade starting at $4,030 with a $3.80 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.
Bay Charles Tower2 Bedroom - 032BR,1BA$3.29
The Colonnade2 Bedroom2BR,2BA$3.80
University Apartments - 8 St. ThomasOne Bedroom1BR,1BA$3.07
25 St. Mary Street1 bedroom1BR,1BA$2.95
Bloor Yonge Tower1 Beds, 1 Baths1BR,1BA$2.92
135 Isabella St2 Bedroom2BR,1BA$3.58
The Village1-Bed1BR,1BA$3.13
Dundonald ArmsBachelorStudio ,1BA$2.80
96 Isabella The Arms ApartmentsBachelorStudio ,1BA$3.44
Mid-Town ApartmentsBachelorStudio ,1BA$3.57

Frequently Asked Questions about Bay Street Corridor

What type of rentals are currently available in Bay Street Corridor?

There are currently 400 Apartments for Rent in Bay Street Corridor, ON with pricing that ranges from $1,425 to $13,110. There are also 1124 Single Family Homes for rent, Condos, and Townhome rentals currently available in Bay Street Corridor ranging from $1,400 to $28,000.

What is the current price range for Rental Homes in Bay Street Corridor?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Bay Street Corridor ranges from $1,400 to $28,000 with an average monthly rent of $7,124.

How much are larger Three and Four Bedroom Rentals in Bay Street Corridor?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Bay Street Corridor range from $3,199 to $12,999, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,400 to $28,000. Four Bedroom Single-Family rentals are also available starting from $1,950 and Four Bedroom Apartments start at $5,600.

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 Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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.

decorative image for Pet-Friendly Renting: Everything You Need to Know Before You Move article

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.

decorative image for Creative Ways Developers Reimagine Retail Spaces as Residential Units article

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.