Cheap Apartments for Rent in the Waterfront Communities The Island Neighborhood of Toronto, ON from $1,400 (708 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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One32
$1,850 - $3,085
Total Monthly Price

Total Monthly Price

Base Rent
$1,850 - $3,085
Total Monthly Price
$1,850 - $3,085
Studio to 3 Bedroom Apartments Available Now

One32

132 Berkeley StToronto, ON M5A 0H6
Student Housing
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  • Utilities Included
  • 3D Tour
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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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Motion
Rent Specials
$2,028 - $4,085
Total Monthly Price

Total Monthly Price

Base Rent
$2,028 - $4,085
Total Monthly Price
$2,028 - $4,085
Studio to 3 Bedroom Apartments Available Now

Motion

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

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Grange Apartments
$1,400Studio to 3 Bedroom Apartments

Grange Apartments

164-168 Grange AveToronto, ON M5T 2V5
Student Housing
  • Utilities Included
  • Smoke Free

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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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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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Showing Results 1-50, Page 1 of 15

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 $1,400. The Richmond has the second lowest priced unit, which is a Studio apartment currently listed from $1,719. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
Grange ApartmentsRenovated BachelorStudio,1BA$1,400
The RichmondStudio, 1 bathStudio,1BA$1,719
One32Studio 1 BathStudio,1BA$1,850
The Quay - Tower III350 North - Studio 2Studio,1BA$1,857
Toronto HouseStudioStudio,1BA$1,995
The 203 ResidencesStudioStudio,1BA$1,995
MotionA4 | Studio | 1 BathStudio,1BA$2,028
JazzStudio 1 BathStudio,1BA$2,035
39 Niagara0 Beds, 1 BathsStudio,1BA$2,043
Velocity at the SquareBachelorStudio,1BA$2,100

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

As of June 17, 2026 the best value apartment in the Waterfront Communities The Island area is the $4.66 price per square foot The Alto V Model at FourFifty The Well in the in the Waterfront Communities The Island neighborhood starting from $3,960. The second greatest value Waterfront Communities The Island apartment is the Two Bedroom Model at Toronto House starting at $3,750 with a $4.55 price per square foot in the Bay Street 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.
FourFifty The WellThe Alto V2BR,2BA$4.66
Toronto HouseTwo Bedroom2BR,2BA$4.55
The Darcy1 bed room plus den1BR,1BA$4.70
The Richmond1 Bed, 1 bath1BR,1BA$3.28
Fifty on the ParkOne Bedroom + Den + Dining Room1BR,1BA$3.73
The TaylorA81BR,1BA$4.61
Grange ApartmentsRenovated BachelorStudio ,1BA$2.80
JazzStudio 1 BathStudio ,1BA$4.24
The 203 ResidencesStudioStudio ,1BA$4.49
One32Studio 1 BathStudio ,1BA$4.44

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 $2,100.

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

The cheapest apartment in Waterfront Communities The Island is Jazz which is listed at $2,190, while the average apartment in Waterfront Communities The Island costs $10,547.

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 262 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 $1,293 which is $9,254 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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

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Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.