Cheap Homes for Rent in Mimico Neighborhood of Toronto, ON from $1,300 (49 Rentals)

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Search the lowest-cost Homes available for rent right now in the Mimico 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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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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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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Cheapest Available Mimico Apartments for Rent

 

The cheapest available apartment rental in the Mimico area of Toronto, ON is a 2 Beds unit found at 24 2nd Street Apartments priced from $800. Lakeshore has the second lowest priced unit, which is a Studio apartment currently listed from $1,350. Here are the most affordable Mimico apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$800
LakeshoreStudio, 1 bathStudio,1BA$1,350
Mimico Estates0 Beds, 1 BathsStudio,1BA$1,450
2355 Lake Shore Blvd WStudioStudio,1BA$1,550
Islington Apartments1 Beds, 1 Baths1BR,1BA$1,550
Marina View ApartmentsGround 1 Bedroom1BR,1BA$1,600
Shoreline TowersBachelor, 1 bath with a balconyStudio,1BA$1,757
2 Superior Avenue1 Beds, 1 Baths1BR,1BA$1,900
2335 Lake Shore Blvd WOne Bedroom Apartment1BR,1BA$1,999

Best Value Apartments for Rent in Mimico, ON

As of May 06, 2026 the best value apartment in the Mimico area is the $2.33 price per square foot 1 Beds, 1 Baths Model at Mimico Estates in the in the Mimico neighborhood starting from $1,835. The second greatest value Mimico apartment is the 1 Beds, 1 Baths Model at 2 Superior Avenue starting at $2,200 with a $3.14 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$2.33
2 Superior Avenue1 Beds, 1 Baths1BR,1BA$3.14
24 2nd Street ApartmentsBachelorStudio ,1BA$3.19
Marina View ApartmentsGround 1 Bedroom1BR,1BA$3.56
LakeshoreStudio, 1 bathStudio ,1BA$3.48
Islington Apartments1 Beds, 1 Baths1BR,1BA$3.78
Shoreline TowersBachelor, 1 bath with a balconyStudio ,1BA$4.32
2355 Lake Shore Blvd WStudioStudio ,1BA$4.86

Frequently Asked Questions about Mimico

What type of rentals are currently available in Mimico?

There are currently 352 Apartments for Rent in Mimico, ON with pricing that ranges from $900 to $3,200. There are also 193 Single Family Homes for rent, Condos, and Townhome rentals currently available in Mimico ranging from $1,350 to $7,500.

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 $1,350 to $7,500 with an average monthly rent of $3,017.

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 Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.