The Most Affordable Neighborhoods for Rent in Toronto 

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The Most Affordable Neighborhoods for Rent in Toronto

It is obvious that Toronto is an expensive city to live in. This would be more complicated if you like living in a house with a little yard space. But it is not this much sad and tragic.

Demographia recently called Toronto as one of the most expensive cities in the world. Toronto, in the contest with London, moved from the 21st rank to 10th rank in the list of expensive cities in the world.

But don’t be disappointed! Although the average rent for a 1-bedroom apartment can be about $2,250 a month in some areas of Toronto, it doesn’t mean that finding an affordable house is impossible.

The Most Affordable Neighborhoods for Rent in Toronto

There are some less expensive neighborhoods in Toronto where you can still find your dream house to live. This article reviews some neighborhoods in Toronto with a rental for even less than a grand a month.

First, we should mention that these average rents for a 1-bedroom unit may have changed since the time that this article was written. The following neighborhoods may offer some useful and affordable options for you to search. We recommend you to talk to a Toronto real estate agent before making any decision.

1. Weston: 

The average price for renting a one-bedroom apartment in this neighborhood is $1300. It is located in the northwest end of the city of Toronto. It has three major parks: Cruickshank Park, Weston Lions Park and Avenue Memorial Park. Using public transit, it just takes 15 minutes to get to downtown.

The Weston Farmers’ Market is one of Toronto’s oldest markets running from May to October. On the west side of Weston Road, you can find rental apartment buildings built in the 1950s and 1960s. Most of them have an interesting view of the Humber River Valley.

2. Rexdale: 

The average price for renting a one-bedroom apartment in the Rexdale neighborhood is $1400. Rexdale is located in northern Etobicoke.

There is a very diverse housing supply in Rexdale. You can find a small one-story house, townhouses, two-story or semi-detached houses or multiplexes. So you have more affordable and various housing options in the Rexdale neighborhood.


3. Keelesdale–Eglinton: 

The average price for renting a one-bedroom apartment in this neighborhood is $1450. This lower price can be due to the fact that Keelesdale–Eglinton is located a little further from the city centre. Although it is closer to downtown than Rexdale, you can enjoy paying under $1,400 for rent.

Keelesdale–Eglinton has a mixed population of Italian, Portuguese, Spanish, and Vietnamese. Residents can enjoy the vibrant beauty of Keelesdale and Haverson Parks and the local Caribbean restaurants along with Eglinton Street. Its vicinity to the subway line can also make your commute easier.

The streets of Keelesdale–Eglinton neighborhood are filled with bungalows and two-story houses lined by the side streets. Almost about a third of the residents in this area are renters. It is famous to be a very peaceful and quiet neighborhood.


4. Rockcliffe-Smythe: 

The average price for renting a one-bedroom apartment in this neighborhood is $1,450. Rockcliffe-Smythe was born after World War II created by Conn Smythe. Most of the houses in this neighborhood are aged back to those days.

Rockcliffe-Smythe has experienced lots of development in recent years. This neighborhood can be considered as a great area for renters and even one of the best Toronto neighborhoods for first-time buyers. It is a very quiet and friendly neighborhood to live in.

5. New Toronto: 

The average price for renting a one-bedroom apartment in this neighborhood is $1,500. This historic town is located in the south-west end of Toronto. There are many houses lined by the water’s edge with the interesting view of waterfront parks in this neighborhood.

Colonel Samuel Smith Park and Lakeshore Village shopping district are famous spots for residents. Besides, you have access to many bakeries, coffee shops, bars and restaurants in Lakeshore Boulevard West.

New Toronto is undergoing many housing complex developments, but you can still find single-family detached houses and townhouses in the neighborhood.  This neighborhood is located exactly on the subway line.

6. The Junction: 

The average price for renting a one-bedroom apartment in this neighborhood is $1,795. The Junction borrowed its name from its location which is exactly on the meeting point of four railway lines. This vibrant neighborhood is close to the downtown core.

The Junction has a quiet and family-friendly environment with the significant view of heritage homes and antique shops. Besides, for weekend hangouts you can go to Little Malta on Dundas. Most houses are featured with a red brick Victorian view which has the finest architecture in Toronto.

The Junction

The Junction is known as a hotspot of craft beer activity. It is composed of young families and hipsters communities. The streets of this neighborhood are filled with galleries and fooleries. New apartment developments have been under construction in recent years in this area.

7. Leslieville: 

The average price for renting a one-bedroom apartment in this neighborhood is $1,900.  Toronto’s Leslieville neighbourhood is so close to downtown Toronto. The charming old-fashioned homes in line with mature trees inspire the wonderful feeling of living in a small town. But the houses are comparatively more affordable than the other neighborhoods in Toronto.

The family-friendly community of Leslieville neighborhood is completely obvious in its coffee shops, restaurants and indie shops. The residents experience a vibrant environment in a neighborhood close to Lake Ontario. There are playgrounds, bike paths and community events in the neighborhood.


According to the above-mentioned information, using a little creativity and flexibility, you can find a proper affordable house in Toronto.

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