Cheap Apartments for Rent in Toronto, ON from C$700 (423 Rentals)

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Search the lowest-cost Apartments available for rent right now in Toronto.

property at 26 Coronation Dr

26 Coronation Dr

TorontoONM1E 2H1
property at 299 Ossington Av

299 Ossington Av

TorontoONM6J 3A1

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

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property at 28 Yonge Blvd

28 Yonge Blvd

TorontoONM5M 3G5
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Upper Canada Court, West
from C$1,640Studio to 1 Bedroom Apartments Available Now

Upper Canada Court, West

110 Erskine AveToronto, ON M4P 2A1
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property at 2707 Yonge St

2707 Yonge St

TorontoONM4N 2H8
property at 1 Oriole Rd

1 Oriole Rd

TorontoONM4V 2E7
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Toronto, ON Local Guide

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Local Guide Expert

Cheapest Neighborhoods for Apartments in Toronto, ON

Pricing Updated: 04/27/2025

Current apartment rentals in the Toronto, ON area range in price from C$800 to C$25,000 with an overall median price of C$3,880. The three Toronto neighborhoods with the lowest median rent pricing are Woodbine Lumsden at C$1,850, Bayview Village at C$1,955, and West Hill at C$800. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Toronto Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Woodbine LumsdenC$1,850C$1,8501
Bayview VillageC$1,955C$1,9551
West HillC$2,045C$8001
MorningsideC$2,600C$1,72915
WoburnC$2,600C$1,72926
Agincourt MalvernC$2,750C$1,8957
Humber Heights WestmountC$2,800C$1,74993
AlderwoodC$2,824C$1,49543
Long BranchC$2,824C$1,49533
MimicoC$2,847C$1,15023

Cheapest Available Toronto Apartments for Rent

 

The cheapest available apartment rental in Toronto, ON is a Studio unit found at Bradley Court in the Church Yonge Corridor neighborhood priced from C$1,045. Bradley Courts in the Church Yonge Corridor neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from C$1,150. Here is today’s list of the most affordable Toronto apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Bradley CourtBachelorStudio,1BAC$1,045
Bradley CourtsBachelorStudio,1BAC$1,150
103 Spadina RdPrivate RoomStudio,1BAC$1,300
Carrying Place VistaBachelor Unit1BR,1BAC$1,313
1011 Lansdowne Ave ApartmentsStudeioStudio,1BAC$1,350
Islington Apartments0 Beds, 1 BathsStudio,1BAC$1,485
103 & 105 West Lodge0 Bedroom(s) and 1 Bathroom(s)Studio,1BAC$1,488
890 Jane StBachelorStudio,1BAC$1,500
40 Beaty AvStudioStudio,1BAC$1,545
2701 Eglinton Ave WStudioStudio,1BAC$1,549

Best Value Apartments for Rent in Toronto, ON

As of April 27, 2025 the best value apartment in the Toronto area is the C$2.03 price per square foot 4 Beds, 1 Baths Model at Stubbs Apartments in the in the St Andrew Windfields neighborhood starting from C$4,495. The second greatest value Toronto apartment is the 4 Beds, 1 Baths Model at 85 Henderson Avenue Townhomes starting at C$3,395 with a C$1.84 price per square foot in the Richmond Hill Vaughan King neighborhood. Here is today’s list of the best values for Toronto apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Stubbs Apartments4 Beds, 1 Baths4BR,1BAC$2.03
85 Henderson Avenue Townhomes4 Beds, 1 Baths4BR,1BAC$1.84
Bloor and Havenwood Townhomes3 Beds, 1 Baths3BR,1BAC$1.65
Leaside TowersThree Bedroom3BR,2BAC$2.04
145 Elinor AvenueThree bedroom townhouse, 1.5 baths3BR,1.5BAC$1.85
55 Livingston RdThree Bedroom Apartment3BR,2BAC$2.01
Pickering Place Apartments3 Beds, 1 Baths3BR,1BAC$2.02
Sandringham House1 Bedroom2BR,1BAC$2.00
2-12 Kingston Rd1 BedroomStudio ,1BAC$1.88
168 Erskine2 Beds, 2 baths2BR,2BAC$1.90

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Toronto Overview

Toronto is a fantastic place to call home. With thousands of available rentals all over the city, find your perfect new place with ease!

Why live in Toronto, ON?

There are a number of reasons that folks living in apartments in Toronto, and people in general, enjoy living in Toronto. It is a true melting pot of cultures, it has a variety of beautiful green spaces and entertainment options, and its a good place to get a job. Citizens of Toronto also enjoy a high quality of life, excellent health care and education prospects, and a high-octane public transportation system to get from A to B. If you enjoy that bustling big-city feel, Toronto is probably for you.

Remember the 3 Rules of Real Estate:
Location, Location, Location!

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See the most popular apartments and homes in Toronto, ON

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Toronto, ON Area Reviews

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Dee • 4+ years in Toronto

February 25, 2025

30 years here ... its not impressive working people cant afford rent

Frequently Asked Questions about Cheap Toronto Apartments

What is the Cheapest Studio apartment in Toronto?

Currently the most affordable Cheap Studio Apartment in Toronto is at Bradley Court listed at C$1,045.

How much is rent for a Cheap One Bedroom Toronto Apartment?

The lowest price for a Cheap One Bedroom Toronto Apartment is C$1,313 at Carrying Place Vista.

What is the lowest price for a Cheap Two Bedroom Toronto Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Toronto is starting from C$1,800 at 168 Erskine.

What is the most affordable Toronto Three Bedroom Apartment?

The best deal on a cheap Toronto Three Bedroom Apartment rental is at Pickering Place Apartments and starts from C$2,520.

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 Understanding Amenity Fees: Know Where You Might Be Able to Save Money article

Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.