Cheap Homes for Rent in the Waterfront Communities The Island Neighborhood of Toronto, ON from $1,000 (743 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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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
West HouseS1Studio,1BA$2,019
MotionA4 | Studio | 1 BathStudio,1BA$2,023
39 Niagara0 Beds, 1 BathsStudio,1BA$2,032
Toronto HouseStudioStudio,1BA$2,146
Grange ApartmentsRenovated Two Bedroom2BR,1BA$2,175
Fifty on the ParkStudioStudio,1BA$2,195

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

As of July 23, 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 The Alto V Model at FourFifty The Well starting at $3,960 with a $4.66 price per square foot in the Waterfront Communities The Island 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
FourFifty The WellThe Alto V2BR,2BA$4.66
Toronto HouseTwo Bedroom2BR,2BA$5.15
The Richmond1 Bed, 1 bath1BR,1BA$3.28
525 Richmond Street1 Bedroom 1 Bath1BR,1BA$3.47
Cherry House at Canary LandingA101BR,1BA$5.00
Maple House at Canary LandingA81BR,1BA$4.75
JazzStudio 1 BathStudio ,1BA$4.59
The 203 ResidencesStudioStudio ,1BA$4.24
One32Studio 1 BathStudio ,1BA$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 $1,719 to $14,235. There are also 1542 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront Communities The Island ranging from $1,049 to $30,000.

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 $1,049 to $30,000 with an average monthly rent of $4,163.

How much are larger Three and Four Bedroom Rentals in Waterfront Communities The Island?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Waterfront Communities The Island range from $3,457 to $14,235, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,400 to $10,000. Four Bedroom Single-Family rentals are also available starting from $3,100 and Four Bedroom Apartments start at $8,740.

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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

Written by: Robin Stewart

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

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.