Ontario legislators have raised the monthly rent allowance for MP's in Toronto to $2300 a month. The MPPs said the 20 per cent increase was necessary due to Toronto's sky-high rental rates. But with the average cost of rent in Toronto set closer to $2,055, we can't help but wonder what $2,300 really looks like in Toronto's rental market.

READ: Legislators Increase Rental Allowance To Account For Toronto Prices

We decided to follow up on last week's news by gathering some noteworthy apartments currently available in the market. Wonder no more, this is what you'll find in Toronto for $2,300 or less.

1. 35 Walmer Road

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Bedrooms: Junior 1 BedroomBathrooms: 1Stand Out Features: Electricity, Water, Heat all includedRent: $2,217 a month

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This high rise is especially interesting because of its inclusive hydro plan. Rental units with that perk included are few and far between in Toronto and they help keep monthly costs predictable.

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The building also offers a gym, underground parking, and it's right next to Spadina subway station. The real selling feature for this unit, however, is its location, set right in the heart of the bustling Annex.

READ: This Is The Average Cost Of Rent In 10 Cities Across Canada

2. 191 & 201 Sherbourne Street

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Bedrooms: 2Bathrooms: 1Stand Out Features: Free storage locker for 3 monthsRent: $2,199


This unit is a beautifully renovated apartment with two smaller bedrooms and a spotless kitchen. It comes with a large balcony, on-site gym, and indoor pool for a host of amenities.9

The building is steps from Toronto General Hospital, both Universities and the Eaton Centre.

3. 4000 Yonge Street

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Bedrooms: 2 BedroomsBathrooms: 1Stand Out Features: Some suites include a large ensuite storage area.Rent: $2,300

Built in historic Hogg's Hollow in Toronto, this north end suite is remarkable for its natural surroundings.

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It has been newly renovated to include granite countertops, gleaming floors, and stainless steel finishes. For those looking for a more peaceful Toronto home, this is the perfect rental.

4. 515 Rosewell Avenue

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Bedrooms: 1 BedroomBathrooms: 1Stand Out Features: Cable and internet IncludedRent: $2,300

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These large spacious suites come either furnished or unfurnished. And they all come with large windows, modern design touches, and stainless steel appliances.

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Situated by Avenue and Lawrence, these units are in the heart of Forest Hill, and have the glam to prove it. The open concept, top of the line amenities, and reasonable rent make these units a top pick in Toronto's competitive market.

READ: 5 Affordable Toronto Condos That Are Available Right Now

5. 2837 Yonge Street

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Bedrooms: 1 BedroomBathrooms: 1Stand Out Features: Includes renters insuranceRent: $2,260

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This apartment building might seem unassuming from the outside, but inside, the freshly renovated suites are top of the line in modern luxury and finishes. From stainless steel appliances to the unique designs, these units are well priced at $2,260 a month.

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Available furnished or non-furnished, the units all have lots of natural light, strategic layouts, and new hardwood floors.