Cheap Homes for Rent in the Mimico Neighborhood of Toronto, ON from $1,600 (97 Rentals)

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

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.

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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.

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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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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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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. Islington Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $1,420. Here are the most affordable Mimico apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Marina View Apartments1 Bedroom1BR,1BA$1,400
Islington Apartments0 Beds, 1 BathsStudio,1BA$1,420
Mimico Estates0 Beds, 1 BathsStudio,1BA$1,490
2355 Lake Shore Blvd WStudioStudio,1BA$1,550
Shoreline TowersBachelor, 1 bath with a balconyStudio,1BA$1,757
26 Albert AvenueStudio (Bachelor)Studio,1BA$1,762
HalsaStudioStudio,1BA$1,895
2335 Lake Shore Blvd WOne Bedroom Apartment1BR,1BA$1,999
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$2,295

Best Value Apartments for Rent in Mimico, ON

As of August 09, 2026 the best value apartment in the Mimico area is the $2.53 price per square foot 2 Beds, 1 Baths Model at Mimico Estates in the in the Mimico neighborhood starting from $2,395. The second greatest value Mimico apartment is the Premium Two Bedroom Model at 24 2nd Street Apartments starting at $2,295 with a $2.87 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 Estates2 Beds, 1 Baths2BR,1BA$2.53
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$2.87
39 Vanevery St, Unit Lower Level39 Vanevery St1BR,1BA$2.50
2335 Lake Shore Blvd WOne Bedroom Apartment1BR,1BA$3.17
HalsaStudioStudio ,1BA$4.16
Marina View Apartments1 Bedroom1BR,1BA$3.11
Shoreline TowersBachelor, 1 bath with a balconyStudio ,1BA$4.32
26 Albert AvenueStudio (Bachelor)Studio ,1BA$4.49
2355 Lake Shore Blvd WStudioStudio ,1BA$4.86
Islington Apartments0 Beds, 1 BathsStudio ,1BA$4.66

Frequently Asked Questions about Mimico

What type of rentals are currently available in Mimico?

There are currently 354 Apartments for Rent in Mimico, ON with pricing that ranges from $1,400 to $4,665. There are also 280 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mimico ranging from $1,695 to $10,000.

What is the current price range for Rental Homes in Mimico?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Mimico ranges from $1,695 to $10,000 with an average monthly rent of $2,841.

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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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 First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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.

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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.