The 8 Cheapest Neighbourhoods To Rent In The City Of Toronto

High rent prices have become the norm in major Canadian rental markets like Vancouver and Toronto. Although not quite as pricey as Metro Vancouver, Toronto’s rent prices have steadily climbed higher over the past few years. Despite having some of the highest rates in the country, plenty of neighbourhoods offer better value for those who know where to look. To start your search on the right foot, liv.rent has compiled our list of eight of the cheapest neighbourhoods to rent in the city of Toronto, including a brief overview of each to help you decide where your next rental home will be.

1. West Hill

Average rent in West Hill

West Hill has some of the lowest rent prices in Toronto, which is somewhat surprising given its broad appeal and charming location. According to the latest data from Zumper, it costs an average of $1,949/month to rent a one-bedroom unit in the neighbourhood.

Neighbourhood breakdown: West Hill

About: Located in the southeast portion of Toronto, West Hill has existed as a neighbourhood since the late 1800s, but has only really started to see development since the middle of the 20th century. Known as a family-friendly neighbourhood with lots of green spaces and amenities, the area is defined by its proximity to both Morningside and Colonel Danforth Parks, and it is also bordered by the University of Toronto’s Scarborough Campus as well as the C.N. Railway

Proximity to Downtown Toronto: West Hill is a bit further from Toronto’s downtown car, but still close enough for regular commutes. By car, it’s about a 40-60 minute drive depending on traffic, while by public transit, it’s about an hour.

Rental types: One big draw of West Hill is its larger-than-usual lots and houses. For families looking for space, this area is particularly appealing. There are also several newer townhomes and bungalows from various eras of the neighbourhood’s development.

2. Rexdale-Kipling

Average rent in Rexdale-Kipling

Rexdale-Kipling also finds itself among the cheapest places to rent in Toronto as of August 2024. According to Zumper’s latest data, the neighbourhood has significantly lower rent prices than most areas of the city, at an average of $1,952/month for a one-bedroom unit.

Neighbourhood breakdown: Rexdale-Kipling

About: A serene, primarily suburban area in Northwest Toronto, Rexdale-Kipling is one of the city’s best-kept secrets owing to its mix of urban and green spaces and of course, its surprisingly inexpensive average rent prices. With plenty of stately mid-century homes and consistent interest from renters and homeowners of all ages, this neighbourhood is equally well-suited to families and single professionals thanks to its walkability and ease of access from the rest of the city.

Proximity to Downtown Toronto: Tucked away in Toronto’s Northwest Corner, Rexdale-Kipling is a little further from Downtown Toronto: by car, it’s only about a 30-40 minute drive, but transit takes 60-70 minutes depending on the route taken.

Rental types: The majority of the houses in Rexdale-Kipling are single-family homes built in the 1950s, when the area saw significant interest post-World War II, though the area has grown considerably since then and now has plenty of apartment buildings and a diverse, multicultural populace.

3. Parkdale

Average rent in Parkdale

Parkdale’s average rental prices are deceptively low considering how much the neighbourhood has to offer. According to Zumper, the average rent for a one-bedroom unit in the neighbourhood is just $2,150/month for a one-bedroom unit as of August 2024.

Neighbourhood breakdown: Parkdale

About: Parkdale is a fascinating neighbourhood southwest of Toronto’s downtown. The area feels like a village within the city, with a diverse immigrant population and a vibrant commercial district along Queen Street West. Foodies will find Parkdale particularly attractive – the area’s Tibetan and Polish populations mean plenty of delicious restaurants, while newer waves of residents have brought trendy shops and bars to Parkdale. The neighbourhood is bordered by Lake Ontario to the south which affords access to the many paths and parks along the city’s waterfront. In terms of geographic area, Dufferin Street marks Parkdale’s eastern boundary, Roncesvalles Avenue marks its west end, and the CP Rail line is to the north.

Proximity to Downtown Toronto: Parkdale is a little further west of Toronto’s downtown, but residents can still reach the centre of the city in about 20 minutes by car, or 30-35 minutes by transit.

Rental types: Parkdale has an eclectic mix of rental types, ranging from majestic Victorian mansions dating back to the area’s early days to newer developments geared towards enticing younger renters and newcomers to the area.

4. Saint James Town

Average rent in Saint James Town

Saint James Town is just to the east of Toronto’s downtown but offers much better value than many of the neighbourhoods surrounding it. Within this area, renters can find a one-bedroom apartment for an average of $2,152/month as of August 2024, according to Zumper.

Neighbourhood breakdown: Saint James Town

About: Saint James Town is one of the oldest areas of the city with settlements dating back to the 1840s. More recently, the area has become home to younger renters and families alike who are drawn to its walkability, eclectic mix of shops, and proximity to Downtown Toronto. Nearby Cabbagetown was known to be a prominent neighbourhood of the counter-culture movement in the 1960s and 70s, and this legacy is apparent in the many unique shopping destinations within the neighbourhood.

Proximity to Downtown Toronto: Saint James Town’s central location is another huge selling point for renters – it’s only about a 15-minute trip by bus and train to Downtown, or a 10-minute car ride.

5. The Annex

Average rent in The Annex

Though it’s towards the more expensive end of this list, The Annex has some of the cheapest rent in the city, with Zumper stating an average of $2,303/month for a one-bedroom unit as of August 2024

Neighbourhood breakdown: The Annex

About: Stretching from Dupont Street in the north to Bloor Street West in the south, and Bathurst Street in the west to Avenue Road in the west, The Annex is a lively hub for students and professionals of all backgrounds – and a wonderful area for any renter to call home. Anyone looking for a truly urban student experience would do well to start their search in this neighbourhood, as the Annex is home to some of Toronto’s best-known entertainment and dining destinations.

Proximity to Downtown Toronto: By car, The Annex is only a 10-15 minute drive to Downtown Toronto, while a quick trip on the 1 subway line gets you there in about 15 minutes.

Rental types: Catering to both staff and students of the area’s nearby universities, The Annex has a good mix of rental housing for any budget. There are lots of older single-family residences, but some have also been converted to small, multi-residential buildings to meet growing needs.

6. Davisville Village

Average rent in Davisville Village

Davisville Village’s rental rates are just below the average for the city of Toronto, according to Zumper’s most recent information. As of August 2024, the average price for a one-bedroom city in this well-connected neighbourhood is $2,515/month.

Neighbourhood breakdown: Davisville Village

About: In the heart of Toronto’s Midtown lies Davisville Village an up-and-coming community that’s quickly emerging as one of the best neighbourhoods for families in Toronto. Stretching from Mount Pleasant Cemetary down to Eglinton Avenue East, all the way to Yonge Street on the east and Bayview Avenue to the west, this conveniently located section of the city is close to the action, with an easy trip downtown for commuters or those looking for a family-friendly neighbourhood with a bit more of an urban feel.

Proximity to Downtown Toronto: Davisville Village is well-connected to Toronto’s downtown, with about a 20-minute trip by car, and about a 25-35 minute trip by transit with bus routes along Mount Pleasant Boulevard and nearby Eglinton Station providing a direct route to the centre of the city.

Rental types: While there are a good amount of detached homes in Davisville Village, there are also high-rise communities for single occupants as well as younger families.

7. Forest Hill

Average rent in Forest Hill

Forest Hill is one of Toronto’s wealthiest neighbourhoods and offers lots to its residents. Zumper has the area’s rent at $2,582/month as of August 2024.

Neighbourhood breakdown: Forest Hill

About: Located north of Downtown in the Midtown area, Forest Hill enjoys a reputation as one of the city’s premier addresses and is home to entrepreneurs, celebrities, and the city’s elite. With this in mind, we were surprised to see that the area’s rent is below the city’s average given its stature within the city. There are plenty of top-notch schools, luxury shopping, and scenic trails. Transit options are also plentiful in the affluent neighbourhood, and driving is convenient as well. Despite all this, there are plenty of reasonable rental units to be had in Forest Hill as newer condos and apartment buildings crop up to accommodate renters.

Proximity to Downtown Toronto: Forest Hill feels like a world in itself, but it’s also quite close to Toronto’s downtown. Driving, it’s only about 20 minutes to the city centre, or 25-30 minutes by transit.

Rental types: While Forest Hill is known for its opulent mansions housing Toronto’s elite, it’s rare to see these places for rent. Instead, renters will be glad to discover the neighbourhood’s many newer condos and apartment buildings.

8. Rosedale

Average rent in Rosedale

Average rent in Rosedale is fairly inexpensive given the diverse appeal of the neighbourhood. According to Zumper, a one-bedroom unit in Rosedale rents for an average of $3,147 as of August 2024, making it the most expensive on our list.

Neighbourhood breakdown: Rosedale

About: Covered in ravines and green spaces, Rosedale feels a world away from the hustle and bustle of Downtown Toronto, though it’s deceptively close to the heart of the busy city. The area also enjoys a proud reputation as one of Toronto’s premier neighbourhoods, with many of the city’s wealthiest and most influential calling the neighbourhood home. Add to this the fact that Rosedale has previously been voted Toronto’s best neighbourhood to live in, and it’s a miracle it made it onto this list at all.

Proximity to Downtown Toronto: One of the biggest draws of Rosedale is its easy access to the city’s centre. By car, it’s only about 10-15 minutes to the heart of Downtown, and a short trip on public transit will get you there in about 25 minutes.

Rental types: Though it’s best known for its historic mansions, recent years have seen a lot more variety in terms of development in the Rosedale neighbourhood, with an assortment of condominiums and low-rise apartment buildings added to the area.

Average rent in the City of Toronto

As you can probably see, average rent prices vary greatly across the City of Toronto. Typically, the closer you get to Downtown, the more prices go up, but this also isn’t a hard and fast rule. There are bargains to be found in every part of the city, and prices can vary a lot even within neighbourhoods.

To give you a better sense of rent in the city and how it compares to the rest of the GTA, here’s a quick breakdown of average rent for one-bedroom, unfurnished rentals across the Greater Toronto Area, as of August 2024. For more insights into rental rates in the GTA and across Ontario, be sure to check out and download our monthly rent reports.

Where is the cheapest rent in the City of Toronto?

It’s hard to tell exactly where the cheapest rent in Toronto can be found, as many neighbourhoods are small and therefore hard to get an accurate sample size from. This list should serve as a good starting point for those seeking relatively cheap rent in Toronto, however.

How to find cheap rent in Toronto

Toronto may be widely recognized as one of the most expensive cities in Canada to rent in, but there is still some great value to be found for those willing to do their homework. Toronto renters should make liv.rent their starting point for any home search. The all-in-one platform allows you to easily search for verified rental properties throughout the city and the GTA as a whole, and connect with trusted landlords to help avoid the usual uncertainty and risk of the rental process.

If you’re looking to automate your rental search and save time finding your perfect home, try using liv.rent’s listing alerts. These handy notifications help you take back your time by saving your criteria and alerting you whenever a new listing is posted. Filters include the number of bedrooms, furnished vs. unfurnished, pet policy, and of course – budget. Here’s a quick video on how to set up listing alerts for yourself.

For more information on where to start your search and the best rental platforms available in Toronto, be sure to check out our post here.

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