Cheap Homes for Rent in Waterfront Communities The Island Neighborhood of Toronto, ON from C$1,100 (177 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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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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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 525 Richmond Street priced from C$1,822. Grange Tower has the second lowest priced unit, which is a Studio apartment currently listed from C$1,850. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
525 Richmond StreetBachelorStudio,1BAC$1,822
Grange TowerBachelorStudio,1BAC$1,850
One32Studio 1 BathStudio,1BAC$1,850
JazzStudio 1 BathStudio,1BAC$1,875
Toronto HouseStudioStudio,1BAC$1,995
FourFifty The WellThe GranvilleStudio,1BAC$2,011
39 Niagara0 Beds, 1 BathsStudio,1BAC$2,057
MotionStudio 1 BathStudio,1BAC$2,060
The 203 ResidencesStudioStudio,1BAC$2,095
90 Adelaide St EOne Bedroom Apartment1BR,1BAC$2,150

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

As of October 23, 2025 the best value apartment in the Waterfront Communities The Island area is the C$2.08 price per square foot Renovated Two Bedroom Model at Grange Apartments in the in the Kensington Chinatown neighborhood starting from C$2,290. The second greatest value Waterfront Communities The Island apartment is the B2-A Model at The Taylor starting at C$3,931 with a C$4.35 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.
Grange ApartmentsRenovated Two Bedroom2BR,1BAC$2.08
The TaylorB2-A2BR,2BAC$4.35
Jazz2 Bedroom 1 Bath2BR,1BAC$4.34
The Quay - Tower III1 Bedroom plus Den1BR,1BAC$4.14
Motion1 Bedroom 1 Bath1BR,1BAC$4.23
Birch House at Canary LandingA111BR,1BAC$4.56
90 Adelaide St EOne Bedroom Apartment1BR,1BAC$3.98
The 203 ResidencesStudioStudio ,1BAC$4.46
Toronto HouseStudioStudio ,1BAC$4.41
Grange TowerBachelorStudio ,1BAC$4.63

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 C$1,799 to C$11,940. There are also 546 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront Communities The Island ranging from C$1,100 to C$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 C$1,100 to C$21,500 with an average monthly rent of C$3,988.

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 Apartment Common Area Rules: What Renters Need to Know article

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.

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.