Cheap Apartments for Rent in the Waterfront Communities The Island Neighborhood of Toronto, ON from $1,700 (692 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Waterfront Communities The Island area of Toronto.

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The Quay - Tower III
Rent Specials
$1,857 - $3,677
Total Monthly Price

Total Monthly Price

Base Rent
$1,857 - $3,677
Total Monthly Price
$1,857 - $3,677
Studio to 3 Bedroom Apartments Available Now

The Quay - Tower III

370 Queens Quay WToronto, ON M5V 3J3
Student Housing
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  • Utilities Included
  • 3D Tour
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One32
$1,930 - $1,945
Total Monthly Price

Total Monthly Price

Base Rent
$1,930 - $1,945
Total Monthly Price
$1,930 - $1,945
Studio to 3 Bedroom Apartments Available Now

One32

132 Berkeley StToronto, ON M5A 0H6
Student Housing
  • Verified
  • Utilities Included
  • 3D Tour
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Motion
Rent Specials
$2,019 - $4,141
Total Monthly Price

Total Monthly Price

Base Rent
$2,019 - $4,141
Total Monthly Price
$2,019 - $4,141
Studio to 3 Bedroom Apartments Available Now

Motion

570 Bay StToronto, ON M5G 0B2
Student Housing
  • Verified
  • 3D Tour

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134-146 Dundas St W
$1,750 - $2,4951 to 2 Bedroom Apartments

134-146 Dundas St W

134-146 Dundas St WToronto, ON M5G 1C6
  • Utilities Included
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New Garden Residences
$1,750 - $3,650Studio to 2 Bedroom Apartments

New Garden Residences

211 Jarvis StToronto, ON M5B 2C1
Corporate Housing
  • Utilities Included
  • Smoke Free

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Showing Results 1-50, Page 1 of 14

Cheapest Available Waterfront Communities The Island Apartments for Rent

 

The cheapest available apartment rental in the Waterfront Communities The Island area of Toronto, ON is a Studio unit found at The Richmond priced from $1,719. The Quay - Tower III has the second lowest priced unit, which is a Studio apartment currently listed from $1,857. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
The RichmondStudio, 1 bathStudio,1BA$1,719
The Quay - Tower III350 North - Studio 2Studio,1BA$1,857
One32Studio 1 BathStudio,1BA$1,930
The 203 ResidencesStudioStudio,1BA$1,995
MotionA5 | Studio | 1 BathStudio,1BA$2,019
39 Niagara0 Beds, 1 BathsStudio,1BA$2,032
JazzStudio 1 BathStudio,1BA$2,070
Fifty on the ParkStudioStudio,1BA$2,100
Grange ApartmentsRenovated Two Bedroom2BR,1BA$2,175
West HouseS1Studio,1BA$2,319

Best Value Apartments for Rent in Waterfront Communities The Island, ON

As of August 02, 2026 the best value apartment in the Waterfront Communities The Island area is the $1.98 price per square foot Renovated Two Bedroom Model at Grange Apartments in the in the Kensington Chinatown neighborhood starting from $2,175. The second greatest value Waterfront Communities The Island apartment is the 1 Bed, 1 bath Model at The Richmond starting at $2,379 with a $3.28 price per square foot in the South Parkdale King West neighborhood. Here is today’s list of the best values for Waterfront Communities The Island apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Grange ApartmentsRenovated Two Bedroom2BR,1BA$1.98
The Richmond1 Bed, 1 bath1BR,1BA$3.28
ROQ CityA9M1BR,1BA$4.45
Maple House at Canary LandingA141BR,1BA$4.70
Cherry House at Canary LandingA101BR,1BA$4.95
525 Richmond Street1 Bedroom 1 Bath1BR,1BA$4.95
The 203 ResidencesStudioStudio ,1BA$4.24
JazzStudio 1 BathStudio ,1BA$4.65
Fifty on the ParkStudioStudio ,1BA$4.94
One32Studio 1 BathStudio ,1BA$4.63

Frequently Asked Questions about Cheap Waterfront Communities The Island Apartments

What is a cheap apartment in Waterfront Communities The Island?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waterfront Communities The Island is under $2,319.

What is the price of a cheap apartment in Waterfront Communities The Island?

The cheapest apartment in Waterfront Communities The Island is The 203 Residences which is listed at $2,195, while the average apartment in Waterfront Communities The Island costs $3,705.

What types of apartments are the cheapest in Waterfront Communities The Island?

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 219 regular apartments in Waterfront Communities The Island that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Waterfront Communities The Island?

Cheap apartments in Waterfront Communities The Island have an average cost of $1,756 which is $1,949 cheaper than the average rent for all rentals in Waterfront Communities The Island.

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.

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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.

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

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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.