Cheap Apartments for Rent in the Mimico Neighborhood of Toronto, ON from $900 (80 Rentals)

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

property at 2527 Lake Shore Blvd W

$1,450 - $2,495

Studio To 2 Bedroom Rentals

Available Now

Mimico Estates

2527 Lake Shore Blvd W
TorontoONM8V 1E6
property at 148 Islington Ave

$1,595 - $1,750

1 To 2 Bedroom Rentals

Available Now

Islington Apartments

148 Islington Ave
TorontoONM8V 3B6

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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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Promenade Apartments
$1,895 - $2,0951 to 2 Bedroom Apartments Available May 15

Promenade Apartments

2301 Lakeshore Blvd WToronto, ON M8V 1A7
Affordability
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property at 2 Superior Ave

$1,900 - $2,200

1 Bedroom Rentals

Available May 1

2 Superior Ave

TorontoONM8V 2M3
property at 4 Superior Ave

$2,200 - $2,850

2 To 3 Bedroom Rentals

Available Now

4 Superior Ave

TorontoONM8V 2M4
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Mimico Estates
$1,450 - $2,495Studio to 2 Bedroom Apartments

Mimico Estates

2521-2543 Lake Shore Blvd WToronto, ON M8V 1E5

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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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SURF
$1,8001 Bedroom Apartments

SURF

2309 Lake Shore Blvd WToronto, ON M8V 1A6

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2311 Lake Shore Blvd W
$1,800 - $1,850Studio to 1 Bedroom Apartments

2311 Lake Shore Blvd W

2311 Lake Shore Blvd WToronto, ON M8V 1A6
Student Housing
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2369 Lake Shore Blvd W
$1,8001 to 2 Bedroom Apartments

2369 Lake Shore Blvd W

2369 Lake Shore Blvd WToronto, ON M8V 1C2
Student Housing
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2519 Lake Shore Blvd W
$1,850Studio to 1 Bedroom Apartments

2519 Lake Shore Blvd W

2519 Lake Shore Blvd WToronto, ON M8V 1E3
Student Housing
  • Utilities Included
  • Smoke Free
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2 Superior Avenue
$1,900 - $2,200Studio to 3 Bedroom Apartments

2 Superior Avenue

2 Superior AveToronto, ON M8V 2M1

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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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Landmark Apartments
$1,995 - $2,255Studio to 3 Bedroom Apartments

Landmark Apartments

2493 Lake Shore Blvd WToronto, ON M8V 1E2
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2335 Lake Shore Blvd W
$1,999 - $2,499Studio to 2 Bedroom Apartments

2335 Lake Shore Blvd W

2335 Lake Shore Blvd WToronto, ON M8V 1B4
  • Utilities Included

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Cheapest Available Mimico Apartments for Rent

 

The cheapest available apartment rental in the Mimico area of Toronto, ON is a Studio unit found at Mimico Estates priced from $1,450. 2355 Lake Shore Blvd W has the second lowest priced unit, which is a Studio apartment currently listed from $1,550. Here are the most affordable Mimico apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Mimico Estates0 Beds, 1 BathsStudio,1BA$1,450
2355 Lake Shore Blvd WStudioStudio,1BA$1,550
Islington Apartments1 Beds, 1 Baths1BR,1BA$1,595
Marina View ApartmentsGround 1 Bedroom1BR,1BA$1,600
24 2nd Street ApartmentsOne Bedroom (Standard)1BR,1BA$1,695
Shoreline TowersBachelor, 1 bath with a balconyStudio,1BA$1,757
2335 Lake Shore Blvd WOne Bedroom Apartment1BR,1BA$1,999

Best Value Apartments for Rent in Mimico, ON

As of April 20, 2026 the best value apartment in the Mimico area is the $2.32 price per square foot 1 Beds, 1 Baths Model at Mimico Estates in the in the Mimico neighborhood starting from $1,830. The second greatest value Mimico apartment is the Premium One Bedroom Model at 24 2nd Street Apartments starting at $1,895 with a $2.92 price per square foot in the Mimico neighborhood. Here is today’s list of the best values for Mimico apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Mimico Estates1 Beds, 1 Baths1BR,1BA$2.32
24 2nd Street ApartmentsPremium One Bedroom1BR,1BA$2.92
Marina View ApartmentsGround 1 Bedroom1BR,1BA$3.56
Islington Apartments1 Beds, 1 Baths1BR,1BA$3.89
Shoreline TowersBachelor, 1 bath with a balconyStudio ,1BA$4.32
2355 Lake Shore Blvd WStudioStudio ,1BA$4.86

Frequently Asked Questions about Cheap Mimico Apartments

What is a cheap apartment in Mimico?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Mimico is under $1,999.

What is the price of a cheap apartment in Mimico?

The cheapest apartment in Mimico is Islington Apartments which is listed at $1,595, while the average apartment in Mimico costs $2,697.

What types of apartments are the cheapest in Mimico?

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 11 regular apartments in Mimico that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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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.