Cheap Rentals Under $500 in Richmond Hill, ON

Richmond Hill is a fast-growing community in the York Region of the GTA, just north of downtown Toronto, Ontario. Counted among Canada’s six best places to live as recently as 2014, its appeal is clear. Blending history, community, and a down-to-earth vibe, Richmond Hill offers renters a snug retreat within a bustling urban hub.

Renowned for its spacious homes, expansive yards, and well-tended gardens, Richmond Hill also attracts young professionals with career opportunities and its convenient proximity to Downtown Toronto. The Greater Toronto Area-wide trend of increasing rental development is evident here too, making it an opportune time to seek one or two-bedroom apartments in the city.

Finding cheap rentals under $500 in Richmond Hill requires research, communication with landlords & property managers, securing references, and signing a lease. All this can add up to a lengthy endeavour if you’re not familiar with how to find an apartment in Richmond Hill. To help you get started, here is a guide with tips for renting in Richmond Hill.

Richmond Hill is an attractive city of Ontario known for its thriving community and diverse housing options. While rental prices in Richmond Hill are generally more affordable compared to Toronto, they have been steadily increasing over time. As a result, finding cheap rentals in Richmond Hill, especially apartments for rent under $1000, can be challenging. However, to initiate your search, you can refer to this guide highlighting affordable neighborhoods in the Greater Toronto Area (GTA) that may offer relatively more budget-friendly rental options.

In addition to choosing your location, it’s important to know what rental types are available in Richmond Hill (e.g. 1 bedroom apartments, 2 bedroom apartments, 3 bedroom apartments, studio apartments) and the average rent for each property type. Refer below to figure out your options - ranging from furnished rentals and unfurnished rentals to long term rentals and short term rentals.

There are many rental property types you can choose from in Richmond Hill.

In addition to choosing your property type, there are also specific rental types you can look into.

When you’re searching for cheap rentals under $500 in Richmond Hill, make sure to look at what amenities are offered. For instance, check to see if the rental includes utilities like air conditioning, cable and internet or features such as dishwasher, parking, balcony and fridge.

Tip: When looking at listings on liv.rent, scroll down to the "Amenities" section to see what utilities and features are included with the rental.

Living in Richmond Hill offers a harmonious blend of urban convenience and community warmth. This multicultural town boasts amenities at your doorstep, historic charm, and outdoor escapes like parks and trails. Families thrive with spacious homes and quality schools. Richmond Hill’s proximity to Toronto ensures career opportunities, and its diverse cultural events add vibrancy. Accessible rental options, from apartments to homes, cater to various preferences. It’s a compelling choice for those seeking a cozy escape within one of the best places to rent near the Greater Toronto Area.

Like any city, Richmond Hill is made up of smaller neighbourhoods with their own distinct features. Some of the most popular neighbourhoods include Oak Ridges, Langstaff, Crosby, Bayview Hill, Mill Pond, Jefferson, and Richmond Hill North. For more info about Richmond Hill, you can consult this guide on Toronto neighbourhoods.

Richmond Hill, Ontario, is dotted with landmarks that encapsulate its rich history and natural beauty. One of its most iconic spots is the David Dunlap Observatory, home to Canada’s largest optical telescope. The town’s plethora of parks, including the serene Richmond Green Park, is a testament to its commitment to preserving green spaces. The Heritage Centre in the heart of Richmond Hill serves as a reminder of the town’s storied past, offering a deep dive into local history. Furthermore, Mill Pond Park, with its charming pond and frequent community events, is a favorite spot for both residents and visitors, reflecting the community spirit of Richmond Hill.

Search for condos, townhouses, rooms, and houses for rent in Richmond Hill, ON on liv.rent. Finding cheap rentals under $500 near you has never been easier. Filter your search by price range (great for finding cheap apartments for rent), unfurnished or furnished apartments for rent, pet-friendly rentals, availability, and housing type. Options range from studio apartments and suites for rent to 1 or 2 bedroom apartment and 3+ bedrooms for rent.

Our Richmond Hill rental listings are updated in real-time and are current as of May 6, 2025.

Looking for a specific type of rental in Richmond Hill, ON? Use our filters below to find your next home.