Cheap Apartments for Rent in Toronto, ON from C$700 (349 Rentals)

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

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101-103 Spadina Rd
C$1,425Studio, 1 Bath RentalsAvailable Now

101-103 Spadina Rd

Toronto, ON M5R 2T1
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967 Avenue Rd
C$1,6501 Bedroom, 1 Bath Home for RentAvailable Apr 1

967 Avenue Rd

Toronto, ON M5P 2K9
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31 Wyvern Rd
C$1,7001 Bedroom, 1 Bath Home for RentAvailable Now

31 Wyvern Rd

Toronto, ON M2K 2K3
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1 Oriole Rd
C$1,740Studio, 1 Bath RentalsAvailable Now

1 Oriole Rd

Toronto, ON M4V 2E7
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1675 Eglinton Ave W
C$1,750Studio, 1 Bath RentalsAvailable Now

1675 Eglinton Ave W

Toronto, ON M6E 2H4
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2928 Yonge St
C$1,765Studio, 1 Bath RentalsAvailable Now

2928 Yonge St

Toronto, ON M4N 2J9
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Toronto, ON Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Toronto, ON

Pricing Updated: 02/26/2025

Current apartment rentals in the Toronto, ON area range in price from C$800 to C$12,800 with an overall median price of C$3,853. The three Toronto neighborhoods with the lowest median rent pricing are Woodbine Lumsden at C$1,950, West Hill at C$2,010, and Leaside Bennington at C$1,605. 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$1,950C$1,9505
West HillC$2,010C$2,0103
Leaside BenningtonC$2,495C$1,605232
West Humber ClairvilleC$2,650C$1,95093
Princess RosethornC$2,695C$2,24513
Agincourt MalvernC$2,750C$1,85015
AlderwoodC$2,799C$1,725462
Long BranchC$2,799C$1,725273
MimicoC$2,799C$1,000118
New TorontoC$2,799C$1,590103

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
Hillhurst ParkBachelorStudio,1BAC$1,280
103 Spadina RdPrivate RoomStudio,1BAC$1,400
Campbell LoftsStudioStudio,1BAC$1,450
2808 Keele StBachelorStudio,1BAC$1,500
The CrosswaysBashelorsStudio,1BAC$1,529
40 Beaty AvStudioStudio,1BAC$1,545
2701 Eglinton Ave WStudioStudio,1BAC$1,555
778 Broadview AveStudioStudio,1BAC$1,573

Best Value Apartments for Rent in Toronto, ON

As of February 26, 2025 the best value apartment in the Toronto area is the C$1.67 price per square foot 3 Beds, 1 Baths Model at Bloor and Havenwood Townhomes in the in the Mississauga Centre Streetsville neighborhood starting from C$2,895. The second greatest value Toronto apartment is the 3 Beds, 1 Baths Model at Cassandra Townhomes starting at C$2,995 with a C$1.75 price per square foot in the Banbury Don Mills York Mills 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.
Bloor and Havenwood Townhomes3 Beds, 1 Baths3BR,1BAC$1.67
Cassandra Townhomes3 Beds, 1 Baths3BR,1BAC$1.75
Leaside TowersThree Bedroom3BR,2BAC$2.04
Widdicombe PlaceI22BR,2BAC$2.28
Clark Townhomes4 Beds, 1 Baths4BR,1BAC$2.25
5 Elm Ave1 Bedroom1BR,1BAC$1.85
Clifton Manor1 bedroom1BR,1BAC$1.85
Pickering Place Apartments3 Beds, 1 Baths3BR,1BAC$2.23
Ridge Hill Manor1 bedroom1BR,1BAC$2.26
620 Martin Grove Rd1 Beds, 1 Baths1BR,1BAC$2.24

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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!

Explore Toronto, ON Rentals by Map

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See the most popular apartments and homes in Toronto, ON

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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$1,650 at 125 Neptune.

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$1,850 at Lake Promenade Community.

What is the most affordable Toronto Three Bedroom Apartment?

The best deal on a cheap Toronto Three Bedroom Apartment rental is at Whitecliff Apartments and starts from C$2,414.

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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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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What to Know About Fees and Fines When Renting

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When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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How Your Move-In Inspection Can Protect Your Security Deposit

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If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.

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Signing Your Apartment Lease: The Basics

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When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.