Cheap Homes for Rent in Toronto, ON from C$700 (426 Rentals)

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Toronto, ON Local Guide

Cheapest Neighborhoods for Apartments in Toronto, ON

Pricing Updated: 03/25/2025

Current apartment rentals in the Toronto, ON area range in price from C$895 to C$12,480 with an overall median price of C$3,835. The three Toronto neighborhoods with the lowest median rent pricing are West Hill at C$2,045, Bayview Village at C$2,160, and Tam OShanter Sullivan at C$1,945. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Toronto Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
West HillC$2,045C$2,0453
Bayview VillageC$2,160C$2,1605
Tam OShanter SullivanC$2,435C$1,945371
Agincourt MalvernC$2,500C$1,250130
Eglinton EastC$2,500C$1,729350
MorningsideC$2,500C$1,729157
Leaside BenningtonC$2,627C$1,625238
Mt Olive JamestownC$2,774C$1,925810
Dorset ParkC$2,787C$2,4754
AlderwoodC$2,799C$1,725489

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
1011 Lansdowne Ave ApartmentsStudeioStudio,1BAC$1,350
103 Spadina RdPrivate RoomStudio,1BAC$1,400
The Lincoln0 Bedroom(s) and 1 Bathroom(s)Studio,1BAC$1,539
40 Beaty AvStudioStudio,1BAC$1,545
100 Spadina RoadBachelorStudio,1BAC$1,549
100 Roehampton AveBachelor ApartmentStudio,1BAC$1,549
2701 Eglinton Ave WStudioStudio,1BAC$1,549
Jaguar CourtBachelorStudio,1BAC$1,549

Best Value Apartments for Rent in Toronto, ON

As of March 25, 2025 the best value apartment in the Toronto area is the C$1.75 price per square foot 3 Beds, 1 Baths Model at Cassandra Townhomes in the in the Banbury Don Mills York Mills neighborhood starting from C$2,995. The second greatest value Toronto apartment is the Three Bedroom Model at Leaside Towers starting at C$3,300 with a C$2.04 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.
Cassandra Townhomes3 Beds, 1 Baths3BR,1BAC$1.75
Leaside TowersThree Bedroom3BR,2BAC$2.04
Daniels FirstHome™ PickeringModel K3BR,2.5BAC$2.08
Widdicombe PlaceI72BR,2BAC$2.30
Pickering Place Apartments3 Beds, 1 Baths3BR,1BAC$2.14
Keele ApartmentsNewly renovated two bedroom2BR,1BAC$2.30
53 Thorncliffe Park DriveOne Bedroom Apartment1BR,1BAC$2.26
Brookbanks Apartments1 Bed 1 Bath A1BR,1BAC$2.29
Ridge Hill Manor1 bedroom1BR,1BAC$2.26
620 Martin Grove Rd1 Beds, 1 Baths1BR,1BAC$2.24

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Frequently Asked Questions about Toronto

What type of rentals are currently available in Toronto?

There are currently 9438 Apartments for Rent in Toronto, ON with pricing that ranges from C$895 to C$12,480. There are also 3804 Single Family Homes for rent, Condos, and Townhome rentals currently available in Toronto ranging from C$700 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$700 to C$40,000 with an average monthly rent of C$6,907.

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$2,195 to C$11,290, while Three Bedroom Homes, Condos, and Townhomes for rent range from C$1,100 to C$22,500. Four Bedroom Single-Family rentals are also available starting from C$700 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.

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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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.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

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.