Cheap Homes for Rent in Waterfront Communities The Island Neighborhood of Toronto, ON from C$1,500 (130 Rentals)

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

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 One32 priced from C$1,810. Grange Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from C$1,890. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
One32Studio 1 BathStudio,1BAC$1,810
Grange ApartmentsRenovated One Bedroom1BR,1BAC$1,890
The 203 ResidencesStudioStudio,1BAC$1,950
39 Niagara0 Beds, 1 BathsStudio,1BAC$1,990
Toronto HouseStudioStudio,1BAC$1,995
MotionStudio 1 BathStudio,1BAC$2,025
West HouseS1Studio,1BAC$2,125
90 Adelaide St EOne Bedroom Apartment1BR,1BAC$2,150
The Quay - Tower IIIBachelorStudio,1BAC$2,183
Maple House at Canary LandingA11BR,1BAC$2,202

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

As of July 13, 2025 the best value apartment in the Waterfront Communities The Island area is the C$4.42 price per square foot B13 Model at The Taylor in the in the Bay Street Corridor neighborhood starting from C$4,400. The second greatest value Waterfront Communities The Island apartment is the Renovated One Bedroom Model at Grange Apartments starting at C$1,890 with a C$2.70 price per square foot in the Kensington Chinatown 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.
The TaylorB132BR,2BAC$4.42
Grange ApartmentsRenovated One Bedroom1BR,1BAC$2.70
Fifty on the ParkOne Bedroom + Patio1BR,1BAC$3.92
Toronto HouseOne Bedroom1BR,1BAC$4.56
90 Adelaide St EOne Bedroom Apartment1BR,1BAC$3.98
Maple House at Canary LandingA111BR,1BAC$4.73
The Quay - Tower IIIBachelorStudio ,1BAC$4.24
Birch House at Canary LandingA031BR,1BAC$4.92
The 203 ResidencesStudioStudio ,1BAC$4.15
One32Studio 1 BathStudio ,1BAC$4.88

Frequently Asked Questions about Waterfront Communities The Island

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

There are currently 484 Apartments for Rent in Waterfront Communities The Island, ON with pricing that ranges from C$1,799 to C$15,220. There are also 462 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront Communities The Island ranging from C$1,500 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$1,500 to C$21,500 with an average monthly rent of C$3,601.

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.