Cheap Homes for Rent in Waterfront Communities The Island Neighborhood of Toronto, ON from $700 (462 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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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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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 $1,850. Jazz has the second lowest priced unit, which is a Studio apartment currently listed from $1,940. Here are the most affordable Waterfront Communities The Island apartments for rent in Toronto, ON:

Apartment ListingModel NameBed/BathPriced From
One32Studio 1 BathStudio,1BA$1,850
JazzStudio 1 BathStudio,1BA$1,940
Fifty on the ParkStudioStudio,1BA$2,025
Toronto HouseStudioStudio,1BA$2,038
39 Niagara0 Beds, 1 BathsStudio,1BA$2,042
The 203 ResidencesStudioStudio,1BA$2,095
West HouseS2Studio,1BA$2,181
The Quay - Tower III1 Bedroom1BR,1BA$2,257
Birch House at Canary LandingA141BR,1BA$2,294
The DarcyBachelorStudio,1BA$2,303

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

As of April 23, 2026 the best value apartment in the Waterfront Communities The Island area is the $4.08 price per square foot TB6 Model at Cherry House at Canary Landing in the in the Moss Park Regent Park neighborhood starting from $4,106. The second greatest value Waterfront Communities The Island apartment is the TC1 Model at Birch House at Canary Landing starting at $4,199 with a $4.18 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.
Cherry House at Canary LandingTB62BR,2BA$4.08
Birch House at Canary LandingTC13BR,2BA$4.18
Jazz2 Bedroom 1 Bath2BR,1BA$4.18
525 Richmond Street1 Bedroom 1 Bath1BR,1BA$3.34
MotionB2 | 1 Bed | 1 Bath1BR,1BA$4.59
The Quay - Tower III1 Bedroom1BR,1BA$4.27
Maple House at Canary LandingA81BR,1BA$4.65
The 203 ResidencesStudioStudio ,1BA$4.46
Toronto HouseStudioStudio ,1BA$4.51
One32Studio 1 BathStudio ,1BA$4.99

Frequently Asked Questions about Waterfront Communities The Island

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

There are currently 491 Apartments for Rent in Waterfront Communities The Island, ON with pricing that ranges from $1,600 to $20,289. There are also 1019 Single Family Homes for rent, Condos, and Townhome rentals currently available in Waterfront Communities The Island ranging from $798 to $12,000.

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 $798 to $12,000 with an average monthly rent of $4,362.

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 $3,400 to $20,231, 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 $3,990 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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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.