Cheap Homes for Rent in the New Toronto Neighborhood of Toronto, ON from $1,300 (30 Rentals)

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Search the lowest-cost Homes available for rent right now in the New Toronto 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.

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.

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.

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.

Cheapest Available New Toronto Apartments for Rent

 

The cheapest available apartment rental in the New Toronto area of Toronto, ON is a 1 Bed unit found at Islington Apartments priced from $1,615. Fairfield Towers has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,979. Here are the most affordable New Toronto apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Islington Apartments1 Beds, 1 Baths1BR,1BA$1,615
Fairfield TowersOne Bedroom1BR,1BA$1,979
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$2,295
155 Lake Shore155 Lake Shore - Plan B2BR,1BA$2,549

Best Value Apartments for Rent in New Toronto, ON

As of July 23, 2026 the best value apartment in the New Toronto area is the $2.27 price per square foot One Bedroom Model at Fairfield Towers in the in the Long Branch neighborhood starting from $1,979. The second greatest value New Toronto apartment is the 155 Lake Shore - Plan B Model at 155 Lake Shore starting at $2,549 with a $2.94 price per square foot in the New Toronto neighborhood. Here is today’s list of the best values for New Toronto apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Fairfield TowersOne Bedroom1BR,1BA$2.27
155 Lake Shore155 Lake Shore - Plan B2BR,1BA$2.94
24 2nd Street ApartmentsPremium Two Bedroom2BR,1BA$2.87
39 Vanevery St, Unit Lower Level39 Vanevery St1BR,1BA$2.50
Islington Apartments1 Beds, 1 Baths1BR,1BA$3.94

Frequently Asked Questions about New Toronto

What type of rentals are currently available in New Toronto?

There are currently 125 Apartments for Rent in New Toronto, ON with pricing that ranges from $1,595 to $3,315. There are also 63 Single Family Homes for rent, Condos, and Townhome rentals currently available in New Toronto ranging from $1,350 to $11,500.

What is the current price range for Rental Homes in New Toronto?

Today's rental pricing for Homes for Rent, Condos and Townhomes in New Toronto ranges from $1,350 to $11,500 with an average monthly rent of $4,144.

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.