Cheap Homes for Rent in Waterfront Communities The Island Neighborhood of Toronto, ON from $900 (770 Rentals)

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

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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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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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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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. One32 has the second lowest priced unit, which is a Studio apartment currently listed from $1,850. 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
One32Studio 1 BathStudio,1BA$1,850
The Quay - Tower III350 North - Studio 2Studio,1BA$1,857
JazzStudio 1 BathStudio,1BA$1,900
Toronto HouseStudioStudio,1BA$1,995
The 203 ResidencesStudioStudio,1BA$1,995
MotionA4 | Studio | 1 BathStudio,1BA$2,028
Fifty on the ParkStudioStudio,1BA$2,055
Velocity at the SquareBachelorStudio,1BA$2,100
39 Niagara0 Beds, 1 BathsStudio,1BA$2,118

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

As of June 08, 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 TC1 Model at Birch House at Canary Landing starting at $4,000 with a $3.98 price per square foot in the Moss Park Regent Park 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
Birch House at Canary LandingTC13BR,2BA$3.98
Toronto HouseTwo Bedroom2BR,2BA$4.55
FourFifty The WellThe Broadway II2BR,2BA$4.72
The Richmond1 Bed, 1 bath1BR,1BA$3.28
Jazz1 Bedroom 1 Bath + Den1BR,1BA$3.97
The TaylorA51BR,1BA$4.63
Maple House at Canary LandingA151BR,1BA$4.73
The 203 ResidencesStudioStudio ,1BA$4.24
One32Studio 1 BathStudio ,1BA$4.44

Frequently Asked Questions about Waterfront Communities The Island

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

There are currently 510 Apartments for Rent in Waterfront Communities The Island, ON with pricing that ranges from $1,719 to $25,648. There are also 1499 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront Communities The Island ranging from $900 to $15,000.

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 $900 to $15,000 with an average monthly rent of $4,033.

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 $18,467, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,700 to $12,000. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $5,652.

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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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

Written by: Robin Stewart

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

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

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

Written by: Robin Stewart

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.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.