Cheap Homes for Rent in Toronto, ON from C$400 (189 Rentals)

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Cheap Homes in Toronto.

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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Toronto, ON Local Guide

Cheapest Neighborhoods for Apartments in Toronto, ON

Pricing Updated: 05/04/2025

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$4,000. The three Toronto neighborhoods with the lowest median rent pricing are Woodbine Lumsden at C$1,850, West Hill at C$800, and Bayview Village at C$2,185. 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
West HillC$2,025C$8002
Bayview VillageC$2,185C$2,1851
RougeC$2,500C$2,5001
MorningsideC$2,600C$1,72916
AlderwoodC$2,725C$1,49541
Long BranchC$2,725C$1,49531
Agincourt MalvernC$2,750C$1,8958
Edenbridge Humber ValleyC$2,824C$1,74962
Islington City Centre NorthC$2,850C$1,57539

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 & 105 West Lodge0 Bedroom(s) and 1 Bathroom(s)Studio,1BAC$1,209
103 Spadina RdPrivate RoomStudio,1BAC$1,250
7256 Airport RdOne Bedroom1BR,1BAC$1,300
Carrying Place VistaBachelor Unit1BR,1BAC$1,313
1011 Lansdowne Ave ApartmentsStudeioStudio,1BAC$1,350
2808 KEELE APARTMENTSStudio, 1 BathroomStudio,1BAC$1,400
Islington Apartments0 Beds, 1 BathsStudio,1BAC$1,485
WELLESLEY APARTMENTSStudio, 1 BathroomStudio,1BAC$1,500

Best Value Apartments for Rent in Toronto, ON

As of May 04, 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
145 Elinor AvenueThree bedroom townhouse, 1.5 baths3BR,1.5BAC$1.85
Cassandra Townhomes3 Beds, 1 Baths3BR,1BAC$1.95
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
7256 Airport RdOne Bedroom1BR,1BAC$1.96

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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 9446 Apartments for Rent in Toronto, ON with pricing that ranges from C$800 to C$25,000. There are also 3304 Single Family Homes for rent, Condos, and Townhome rentals currently available in Toronto ranging from C$460 to C$55,000.

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$55,000 with an average monthly rent of C$5,664.

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$2,475 to C$9,680, while Three Bedroom Homes, Condos, and Townhomes for rent range from C$1,000 to C$22,500. Four Bedroom Single-Family rentals are also available starting from C$1,200 and Four Bedroom Apartments start at C$3,500.

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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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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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.