Cheapest neighbourhoods to rent in Toronto

Toronto is one of Canada's most expensive rental markets, but average rents vary significantly across the city's neighbourhoods. Some areas offer considerably better value than the downtown core while still providing good transit access and a full range of amenities. This guide covers eight of Toronto's more affordable neighbourhoods for renters.

For current average rent figures by neighbourhood, see the Toronto Rent Report.

West Hill

In Toronto's southeast, West Hill is a family-friendly neighbourhood with consistently lower average rents than most parts of the city. It is bordered by Morningside and Colonel Danforth Parks, with the University of Toronto Scarborough campus nearby. The housing stock is primarily larger houses with sizable lots, along with townhomes and bungalows from various periods of the neighbourhood's development. Downtown Toronto is about 40 to 60 minutes by car or around an hour by transit.

Rexdale-Kipling

A primarily suburban neighbourhood in Toronto's northwest, Rexdale-Kipling is known for its mid-century single-family homes alongside newer apartments and a diverse, multicultural community. It is one of the city's more affordable areas and suits both families and single professionals thanks to its walkability and transit connections. Downtown is about 30 to 40 minutes by car or 60 to 70 minutes by transit.

Parkdale

Southwest of downtown, Parkdale is a vibrant neighbourhood with a strong immigrant community, a diverse restaurant scene along Queen Street West, and easy access to the Lake Ontario waterfront. The neighbourhood has a village-like feel within the city, with Victorian-era homes alongside newer developments catering to younger renters. Downtown is about 20 minutes by car or 30 to 35 minutes by transit.

St. James Town

Just east of downtown, St. James Town offers considerably better value than many of its surrounding neighbourhoods while remaining centrally located. The area has walkable access to shops, restaurants, and nearby Cabbagetown, and is only about a 10-minute car ride or 15 minutes by bus and subway to the downtown core. Housing is predominantly apartment buildings and condos.

The Annex

One of Toronto's most established student and professional neighbourhoods, the Annex borders the University of Toronto's St. George campus and has excellent access to Bloor Street's restaurants, cafes, shops, and entertainment. Three subway stations serve the neighbourhood, and downtown is a 10 to 15 minute drive or about 15 minutes by subway. Despite its desirable location, the Annex consistently comes in below the city's average rent for comparable units. Housing includes older single-family homes, many converted to multi-unit buildings, alongside apartment buildings.

Davisville Village

In Toronto's Midtown, Davisville Village is a well-connected neighbourhood stretching between Eglinton Avenue and Mount Pleasant Cemetery. It suits families and professionals who want an urban feel with a quieter residential character than the downtown core. Eglinton Station and bus routes along Mount Pleasant Boulevard provide transit access, with downtown about 25 to 35 minutes away. Housing includes both detached homes and high-rise apartment buildings.

Forest Hill

Known as one of Toronto's most prestigious addresses, Forest Hill has top-rated schools, scenic trails, and upscale shopping. Despite its reputation, average rents for apartments and condos in the neighbourhood tend to come in below the city's average, as newer condo and apartment buildings have added more accessible rental options to the area. Downtown is about 20 minutes by car or 25 to 30 minutes by transit.

Rosedale

Covered in ravines and green spaces, Rosedale sits deceptively close to downtown despite feeling removed from the city's intensity. It is consistently voted among Toronto's best neighbourhoods and is home to many of the city's most prominent residents. Historic mansions define the streetscape, but newer condos and low-rise apartment buildings have added a range of rental options at more accessible price points. Downtown is about 10 to 15 minutes by car or 25 minutes by transit. Rosedale is the most expensive neighbourhood on this list, but still comes in below the city average for comparable unit types in certain buildings.

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