Cheap Homes for Rent in Toronto, ON from C$400 (193 Rentals)

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Toronto, ON Local Guide

Cheapest Neighborhoods for Apartments in Toronto, ON

Pricing Updated: 04/17/2025

Current apartment rentals in the Toronto, ON area range in price from C$850 to C$12,480 with an overall median price of C$3,909. The three Toronto neighborhoods with the lowest median rent pricing are Woodbine Lumsden at C$1,850, Bayview Village at C$1,955, and Maple Leaf at C$1,999. 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
Maple LeafC$1,999C$1,9991
West HillC$2,045C$2,0451
Tam OShanter SullivanC$2,450C$1,74920
MorningsideC$2,600C$1,7299
Westminster BransonC$2,800C$1,80047
AlderwoodC$2,824C$1,79947
Long BranchC$2,824C$1,79935
MimicoC$2,847C$1,15024

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
The Residence at WestonStudioStudio,1BAC$1,350
1011 Lansdowne Ave ApartmentsStudeioStudio,1BAC$1,350
55 Brownlow AvenueBachelor, balconyStudio,1BAC$1,477
103 & 105 West Lodge0 Bedroom(s) and 1 Bathroom(s)Studio,1BAC$1,488
40 Beaty AvStudioStudio,1BAC$1,545
550 Jarvis StBachelor ApartmentStudio,1BAC$1,549
2701 Eglinton Ave WStudioStudio,1BAC$1,549

Best Value Apartments for Rent in Toronto, ON

As of April 17, 2025 the best value apartment in the Toronto area is the C$1.84 price per square foot 4 Beds, 1 Baths Model at 85 Henderson Avenue Townhomes in the in the Richmond Hill Vaughan King neighborhood starting from C$3,395. The second greatest value Toronto apartment is the 3 Beds, 1 Baths Model at Bloor and Havenwood Townhomes starting at C$2,995 with a C$1.65 price per square foot in the Mississauga Centre Streetsville 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.
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
Cassandra Townhomes3 Beds, 1 Baths3BR,1BAC$1.95
Daniels FirstHome™ PickeringModel K3BR,2.5BAC$2.08
Lion's GateG12BR,1.5BAC$2.24
2-12 Kingston Rd1 BedroomStudio ,1BAC$1.88
DuPont Loft Residences1 Bedroom1BR,1BAC$2.15
620 Martin Grove Rd1 Beds, 1 Baths1BR,1BAC$2.24

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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 Toronto

What type of rentals are currently available in Toronto?

There are currently 9431 Apartments for Rent in Toronto, ON with pricing that ranges from C$850 to C$12,480. There are also 3494 Single Family Homes for rent, Condos, and Townhome rentals currently available in Toronto ranging from C$460 to C$40,000.

What is the current price range for Rental Homes in Toronto?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Toronto ranges from C$460 to C$40,000 with an average monthly rent of C$5,126.

How much are larger Three and Four Bedroom Rentals in Toronto?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Toronto range from C$850 to C$9,680, while Three Bedroom Homes, Condos, and Townhomes for rent range from C$750 to C$22,500. Four Bedroom Single-Family rentals are also available starting from C$1,200 and Four Bedroom Apartments start at C$3,674.

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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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.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.