Cheap Apartments for Rent in the Mimico Neighborhood of Toronto, ON from $1,000 (143 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

property at 2527 Lake Shore Blvd W

$1,490 - $1,750

Studio To 1 Bedroom Rentals

Available Now

Mimico Estates

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

$1,595 - $1,790

1 To 2 Bedroom Rentals

Available Now

Islington Apartments

148 Islington Ave
TorontoONM8V 3B6
close
View Me
Promenade Apartments
$1,7951 Bedroom Apartments Available Sep 1

Promenade Apartments

2301 Lakeshore Blvd WToronto, ON M8V 1A7
Affordability
  • Verified
  • Utilities Included
  • Smoke Free

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

Read Article
close
View Me
Lakeshore
$1,350 - $1,700Studio to 1 Bedroom Apartments

Lakeshore

2545-2561 Lakeshore Blvd WToronto, ON M8V 3Y3
  • Utilities Included
close
View Me
Mimico Estates
$1,490 - $1,750Studio to 2 Bedroom Apartments

Mimico Estates

2521-2543 Lake Shore Blvd WToronto, ON M8V 1E5
close
View Me
24 2nd Street Apartments
$1,595 - $2,295Studio to 2 Bedroom Apartments

24 2nd Street Apartments

24 2nd StToronto, ON M8V 1H4
  • Smoke Free

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

Read Article
close
View Me
26 Albert Avenue
$1,699Studio to 2 Bedroom Apartments

26 Albert Avenue

26 Albert AveToronto, ON M8V 1C2
  • Utilities Included

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.

Read Article
close
View Me
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
close
View Me
SURF
$1,8001 Bedroom Apartments

SURF

2309 Lake Shore Blvd WToronto, ON M8V 1A6
close
View Me
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
close
View Me
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

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.

Read Article

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.

Read Article
Showing Results 1-50, Page 1 of 3

Cheapest Available Mimico Apartments for Rent

 

The cheapest available apartment rental in the Mimico area of Toronto, ON is a 1 Bed unit found at Marina View Apartments priced from $1,400. Mimico Estates has the second lowest priced unit, which is a Studio apartment currently listed from $1,490. Here are the most affordable Mimico apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Marina View Apartments1 Bedroom1BR,1BA$1,400
Mimico Estates0 Beds, 1 BathsStudio,1BA$1,490
2355 Lake Shore Blvd WStudioStudio,1BA$1,550
Islington Apartments1 Beds, 1 Baths1BR,1BA$1,595
Shoreline TowersBachelor, 1 bath with a balconyStudio,1BA$1,757
2335 Lake Shore Blvd WOne Bedroom Apartment1BR,1BA$1,999
2 Superior Avenue1 Beds, 1 Baths1BR,1BA$2,100
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$2,295

Best Value Apartments for Rent in Mimico, ON

As of July 21, 2026 the best value apartment in the Mimico area is the $2.87 price per square foot Premium Two Bedroom Model at 24 2nd Street Apartments in the in the Mimico neighborhood starting from $2,295. The second greatest value Mimico apartment is the 1 Beds, 1 Baths Model at 2 Superior Avenue starting at $2,100 with a $2.80 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.
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$2.87
2 Superior Avenue1 Beds, 1 Baths1BR,1BA$2.80
39 Vanevery St, Unit Lower Level39 Vanevery St1BR,1BA$2.50
Mimico Estates1 Beds, 1 Baths1BR,1BA$2.50
2335 Lake Shore Blvd WOne Bedroom Apartment1BR,1BA$3.17
Marina View Apartments1 Bedroom1BR,1BA$3.11
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 $2,295.

What is the price of a cheap apartment in Mimico?

The cheapest apartment in Mimico is Marina View Apartments which is listed at $1,400, while the average apartment in Mimico costs $4,522.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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.