For the second month straight, Toronto’s rent rates have outdone themselves. In August, the average cost of a one-bedroom unit peaked at $2,300. Although this is only a $30 increase since January, it demonstrates that rent rates in the city continue to be unaffordable for most.
Toronto’s rapidly growing population and job market has contributed to its soaring rental prices. But while the average one bed might be over $2,000, you can still find some rentals that are under $1,500.
READ: National Rent Report Proves How Bad Rent Inflation Is Getting
To prove this, we teamed up with Zoocasa to find the cheapest rentals in the City of Toronto. Between July 15 and August 15, the most affordable units were in North York, Scarborough, and Etobicoke.
Take a look below at the 10 cheapest rental listings in Toronto this month.
1. Lower - 19 Madras Cres., Scarborough — $800/month
All photos courtesy of Zoocasa
Bedrooms: 0Bathrooms: 1Parking: 1
This updated basement apartment is the perfect space for one person or a couple. It’s located in a family-friendly neighbourhood and is close to schools and parks. The unit also comes with a private driveway and shared backyard.
2. Lower - 5 Orchard Park Dr., Scarborough — $850/month
Bedrooms: 1Bathrooms: 1Parking: 1
This one-bedroom unit is in the ideal location for a student. The home is conveniently located near U of T’s Scarborough campus and Centennial College’s Progress campus. It’s also within walking distance to the mall and is close to both the TTC and a GO Train Station.
3. Bsmt - 173 North Carson St., Etobicoke — $850/month
Bedrooms: 0Bathrooms: 1Parking: 0
This newly furnished basement studio is small, but bright. It comes with a double bed, table, cable and internet. The unit also comes with a small kitchenette and shared laundry.
4. Bsmt - 165 Dallimore Circle, North York — $1,000/month
Bedrooms: 0Bathrooms: 1Parking: 0
If you’re looking for a spacious unit that comes with its own private laundry and kitchen, then you’re in luck! This basement studio in a townhouse comes with all of the above. It’s also in a prime location, close to parks, schools, and CF Shops at Don Mills.
5. Bsmt - 39 John Stoner Dr., Scarborough — $1,000/month
Bedrooms: 1Bathrooms: 1Parking: 0
Basement apartments tend to feel dark and dreary, but this place is the complete opposite. The big, bright unit has been renovated and looks brand new. The only downside to this space is that there’s no laundry. However, the apartment is conveniently located. The TTC, U of T’s Scarborough campus and the Toronto Zoo are all close by.
6. Bsmt - 16 Jacques Rd., Scarborough — $1,095/month
Bedrooms: 1Bathrooms: 1Parking: 1
Located in Scarborough’s Morningside Heights, this one bedroom plus den is close to schools, parks, and grocery stores. It’s easily accessible by TTC and is minutes away from the 401. The unit has an open-concept living and dining room, and a spacious kitchen and bedroom. Prospective tenants will also be happy to know that this unit has its own separate entrance.
7. Lower - 46 Otonabee Ave. — $1,200/month
Bedrooms: 1Bathrooms: 1Parking: 1
If you’re looking for a home in a quiet neighbourhood, then this is the place for you. This one-bedroom suite is clean and cozy, and is the perfect size for a single profession or a couple Tenants will have to share laundry facilities, but at least the entrance to the unit is private.
8. Bsmt - 122 Dollery Crt., North York — $1,200
Bedrooms: 0Bathrooms: 1Parking: 1
This might be the biggest, brightest basement apartment we’ve ever seen! The unit has an open-concept layout with a new three-piece bathroom and a newly renovated walk-up. The home is located in a family-friendly neighbourhood in North York and is close to the TTC.
9. Bsmt - 3 Farley Cres., Etobicoke — $1,200/month
Bedrooms: 1Bathrooms: 1Parking: 1
This rental is all about convenience. Perfect for one person, this one-bed unit is located close to the TTC, the 401, schools, shopping and more. The laundry facilities are shared and utilities are included in the price.
10. Bsmt - 225 B Church St., York — $1,300
Bedrooms: 1Bathrooms: 1Parking: 0
Those who love Yorkdale Mall will appreciate the location of this basement apartment. The renovated basement unit is minutes away from the mall and is close to public transit. All utilities are included in the rental price, except for cable. Laundry is also extra, as the appliances on-site require coins.
