Toronto Neighbourhoods with the Most Affordable Rent Right Now
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While 1-bedroom rentals can easily fetch close to $3,000 a month in certain parts of the city, there are still neighbourhoods within the confines of Toronto where you can snag a rental for around a grand a month.
Don’t believe us? Below you’ll find a list of the most affordable neighbourhoods in Toronto for rent. All of the data related to rent averages comes from rent price averages as per the Canada Mortgage and Housing Corporation (CMHC)
Disclaimer: The following information includes the latest data collected by the CMHC, as of October 2019 (the latest data currently available). Rent prices may have changed since the time of this writing. All prices quoted below are average rents for a 1-bedroom unit.
1. Rexdale-Kipling – Average rent: $968
The cheapest place to rent in the City of Toronto is Rexdale-Kipling, a neighbourhood located in northern Etobicoke. To the north of the neighbourhood’s boundaries is the scenic West Humber River Valley, offering plenty of walking trails, gardens, and woodlands. Rexdale also boasts Woodbine Casino and Racetrack, the latter of which is home to The Queen’s Plate, Canada’s most famous horse race.
The housing supply in Rexdale-Kipling is very diverse and includes bungalows, split-level homes, two-storey houses, semi-detached homes, townhouses, multiplexes, and apartment buildings. Many buildings are publicly-owned, allowing for more affordable housing options for residents.
2. Keelesdale–Eglinton West – Average rent: $974
Second on the list is Keelesdale–Eglinton West, where residents can enjoy rent under the $1,000 mark thanks to the area being a little further from the city centre. As such, rental prices are more affordable compared to other communities in the city.
The neighbourhood’s boundaries include Eglinton to the north, Rogers Road to the south, railway tracks to the east, and the Union Pearson Express rail to the west. There’s a heavy European and Asian influence in the area thanks to the large proportion of residents of Italian, Portuguese, Spanish, and Vietnamese descent. Along Eglinton Avenue, locals and visitors have their pick of the litter of Caribbean restaurants, and the outdoorsy type can enjoy Mother Nature at Keelesdale and Haverson Parks.
Housing types in Keelesdale–Eglinton West are predominantly made up of bungalows and two-storey homes that line the neighbourhood’s side streets. While the majority of people own in Keelesdale–Eglinton West, about a third of the residents rent.
3. Rockcliffe-Smythe – Average rent: $1,015
According to Toronto Life, Rockcliffe-Smythe is one of the top Toronto neighbourhoods for first-time homebuyers, largely thanks to the affordable housing prices, along with other perks of the neighbourhood. It’s also a great spot for renters, with the average 1-bedroom unit available for just over $1,000.
Rockcliffe-Smythe is located south of Eglinton Ave, north of Jane Street, east of the Humber River, and west of the railway tracks on the east side of Weston Road. The area has undergone lots of development over the years, with recent additions including the York Community Centre and Stockyards Open Mall. The neighbourhood is known for its vast green space, which includes Smythe Park and Scarlett Woods golf course. It’s also where Black Creek and the Humber River meet.
As far as housing is concerned, the area is made up mainly of single-family detached homes, though there are also plenty of apartment buildings along Jane Street, Humber Boulevard, and Scarlett Road.
Fun fact: The intersection of Jane Street and St. Clair Avenue, which is located within the boundaries of the neighbourhood, was the inspiration behind the Barenaked Ladies’ hit song “Jane,” with the title character of the song named “Jane St. Clair.”
4. New Toronto – Average rent: $1,036
Located in the south-west end of Toronto is the historic town of New Toronto, a neighborhood filled with stunning waterfront parks, with many homes lining the water’s edge. There’s a good amount of green space in the area, including Colonel Samuel Smith Park.
Other notable landmarks in the neighbourhood of New Toronto include Humber College’s Lakeshore Campus, the Lakeshore Yacht Club, and the New Toronto Lawn Bowling Club. The Lakeshore Village shopping district is also a hotspot for locals, which runs along Lakeshore Boulevard West and is filled with food markets, delis, bakeries, coffee shops, restaurants, bars, and retail shops.
The area is marked predominantly by single-family detached homes, though New Toronto is starting to see other housing complex developments, including the Lakeshore Village subsidized housing development located between 10th and 13th avenues. New home developments—both current and upcoming—are also seeing an uptick, particularly in the area between Islington and Kipling avenues, north of Birmingham Road.
5. Beechborough-Greenbrook – Average rent: $1,044
Bordered by Greenbrook Drive to the north, Eglinton Avenue West to the south, the York Beltline Trail to the east and railway tracks just east of Weston Road to the west, Beechborough-Greenbrook makes a great place for families, as this is the main demographic in the neighbourhood. Of course, it’s also a great spot for anyone looking for an affordable place to rent, with prices for a 1-bedroom unit barely over the $1,000 mark. In fact, about two-thirds of residents in the area rent instead of own.
The community of Beechborough-Greenbrook was recently added to the city’s list of improvement areas, so residents can expect to see some revitalization in the near future. But as of today, residents can enjoy Coronation Park, complete with sporting facilities and an amphitheatre. The neighbourhood is also home to the York Civic Centre.
Residences in the neighbourhood are mainly single-family homes, but there are also some apartment buildings to choose from.
6. Kennedy Park – Average rent: $1,048
Once referred to as “Scarborough Junction,” Kennedy Park is located in southwest Scarborough, bordered by Eglinton Avenue to the north, Danforth to the south, Brimley Road to the east, and Warden Avenue to the west. The neighbourhood has recently seen some amenities added. Don Montgomery Community Recreation Centre and the Hub Mid-Scarborough, for instance, were recently added to the area.
Kennedy Park’s housing profile is made up largely of suburban single-family homes, though there are also apartment buildings in the area that house many of the community’s residents.
7. Long Branch – Average rent: $1,062
Affordable rent is possible in the City of Toronto, even in communities relatively close to the downtown core. A quick subway ride or GO train commute from Long Branch will get you downtown in no time. And at an average rent of $1,062, it’s a great option for those who want to be close to the action without the sky-high price tag to live there.
Long Branch is located on the west end of Toronto, bordering Lake Ontario to the south and the railway tracks to the north, abutting Mississauga to the west and New Toronto to the east. Much like New Toronto, Long Branch is peppered with lots of green space, making it a wonderful place to enjoy the great outdoors. It’s also a great place to enjoy a myriad of coffee shops and restaurants, with a trendy vibe characterizing the neighbourhood.
Long Branch’s housing market is made up mostly of single-family detached homes with large lots. Steadily, many of the older homes in the area are being rebuilt, breathing new life to the area.