Cheap Homes for Rent in Waterfront Communities The Island Neighborhood of Toronto, ON from $900 (54 Rentals)

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

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 203 Residences priced from $1,895. One32 has the second lowest priced unit, which is a Studio apartment currently listed from $1,925. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
The 203 ResidencesStudioStudio,1BA$1,895
One32Studio 1 BathStudio,1BA$1,925
Toronto HouseStudioStudio,1BA$1,995
39 Niagara0 Beds, 1 BathsStudio,1BA$2,043
90 Adelaide St EOne Bedroom Apartment1BR,1BA$2,150
Cherry House at Canary LandingA021BR,1BA$2,201
FourFifty The WellThe Logan IIIStudio,1BA$2,247
Birch House at Canary LandingA111BR,1BA$2,335
MotionStudio 1 BathStudio,1BA$2,345
525 Richmond Street1 Bedroom 1 Bath1BR,1BA$2,350

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

As of January 22, 2026 the best value apartment in the Waterfront Communities The Island area is the $4.07 price per square foot 2 Bedroom 1 Bath Model at Jazz in the in the Church Yonge Corridor neighborhood starting from $3,090. The second greatest value Waterfront Communities The Island apartment is the One Bedroom + Den + Dining Room Model at Fifty on the Park starting at $2,699 with a $3.95 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.
Jazz2 Bedroom 1 Bath2BR,1BA$4.07
Fifty on the ParkOne Bedroom + Den + Dining Room1BR,1BA$3.95
Birch House at Canary LandingB022BR,2BA$4.69
525 Richmond Street1 Bedroom 1 Bath1BR,1BA$3.67
The Quay - Tower III1 Bedroom plus Den1BR,1BA$4.14
90 Adelaide St EOne Bedroom Apartment1BR,1BA$3.98
Maple House at Canary LandingA101BR,1BA$4.60
MotionStudio 1 BathStudio ,1BA$4.74
The 203 ResidencesStudioStudio ,1BA$4.03
Toronto HouseStudioStudio ,1BA$4.41

Frequently Asked Questions about Waterfront Communities The Island

What type of rentals are currently available in Waterfront Communities The Island?

There are currently 486 Apartments for Rent in Waterfront Communities The Island, ON with pricing that ranges from $1,799 to $7,275. There are also 528 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront Communities The Island ranging from $900 to $21,500.

What is the current price range for Rental Homes in Waterfront Communities The Island?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Waterfront Communities The Island ranges from $900 to $21,500 with an average monthly rent of $3,022.

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 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.