Cheap Apartments for Rent in the Waterfront Communities The Island Neighborhood of Toronto, ON from C$1,500 (23 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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.

close
View Me
Grange Apartments
Studio to 3 Bedroom Apartments

Grange Apartments

164-168 Grange AveToronto, ON M5T 2V5
  • Utilities Included
  • Smoke Free
close
View Me
165 Lofts
Studio to 2 Bedroom Apartments

165 Lofts

165 Bathurst StToronto, ON M5V 3C2
  • Utilities Included
close
View Me
134-146 Dundas St W
1 to 2 Bedroom Apartments

134-146 Dundas St W

134-146 Dundas St WToronto, ON M5G 1C6
  • Utilities Included
close
View Me
New Garden Residences
Studio to 2 Bedroom Apartments

New Garden Residences

211 Jarvis StToronto, ON M5B 2C1
  • Utilities Included
  • Smoke Free
close
View Me
525 Richmond Street
Studio to 3 Bedroom Apartments

525 Richmond Street

525 Richmond St WToronto, ON M5V 1Y5
  • Utilities Included
close
View Me
Grange Tower
Studio to 3 Bedroom Apartments

Grange Tower

20 St Patrick StToronto, ON M5T 2Y4
  • Utilities Included

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.

close
View Me
Velocity at the Square
Studio to 2 Bedroom Apartments

Velocity at the Square

252 Victoria StToronto, ON M5B 1V8
  • Utilities Included
  • Smoke Free
close
View Me
N°55 Mercer Condos
1 to 3 Bedroom Apartments

N°55 Mercer Condos

55 Mercer StToronto, ON M5V 9G9
Corporate Housing
  • Smoke Free

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 Grange Apartments priced from C$1,590. 525 Richmond Street has the second lowest priced unit, which is a Studio apartment currently listed from C$1,822. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Grange ApartmentsRenovated BachelorStudio,1BAC$1,590
525 Richmond StreetBachelorStudio,1BAC$1,822
One32Studio 1 BathStudio,1BAC$1,850
Grange TowerBachelorStudio,1BAC$1,850
JazzStudio 1 BathStudio,1BAC$1,875

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

As of October 10, 2025 the best value apartment in the Waterfront Communities The Island area is the C$4.75 price per square foot B3-C Model at The Taylor in the in the Bay Street Corridor neighborhood starting from C$4,158. The second greatest value Waterfront Communities The Island apartment is the 2 Bedroom 1 Bath Model at Jazz starting at C$3,300 with a C$4.34 price per square foot in the Church Yonge Corridor 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.
The TaylorB3-C2BR,2BAC$4.75
Jazz2 Bedroom 1 Bath2BR,1BAC$4.34
The Quay - Tower III1 Bedroom plus Den1BR,1BAC$4.14
Motion1 Bedroom 1 Bath1BR,1BAC$4.62
90 Adelaide St EOne Bedroom Apartment1BR,1BAC$3.98
Maple House at Canary LandingA111BR,1BAC$4.77
Grange ApartmentsRenovated BachelorStudio ,1BAC$3.18
The 203 ResidencesStudioStudio ,1BAC$4.46
Toronto HouseStudioStudio ,1BAC$4.41
Grange TowerBachelorStudio ,1BAC$4.63

Frequently Asked Questions about Cheap Waterfront Communities The Island Apartments

What is the Cheapest Studio apartment in Waterfront Communities The Island?

Currently the most affordable Cheap Studio Apartment in Waterfront Communities The Island is at Grange Apartments listed at C$1,590.

How much is rent for a Cheap One Bedroom Waterfront Communities The Island Apartment?

The lowest price for a Cheap One Bedroom Waterfront Communities The Island Apartment is C$2,150 at 90 Adelaide St E.

What is the lowest price for a Cheap Two Bedroom Waterfront Communities The Island Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Waterfront Communities The Island is starting from C$2,390 at Grange Apartments.

What is the most affordable Waterfront Communities The Island Three Bedroom Apartment?

The best deal on a cheap Waterfront Communities The Island Three Bedroom Apartment rental is at Grange Tower and starts from C$3,700.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.