These are the 5 "cheapest" rental apartments in Toronto right now

Toronto rental prices have been dropping over the past year as vacancy rates have risen, which has lead to some much more affordable apartment listings. This month’s round-up of the cheapest rental apartments in Toronto gives just a few examples of what you can now find on the lower end of the rent price spectrum.

According to a recent PadMapper study released in February, Toronto one-bedroom rental prices fell a staggering 23% year-over-year, hitting a new four-year low average of $1,770 — a price that hasn’t been seen since 2017.

But with vaccines starting to roll out and a hopeful end to the pandemic insight, it’s possible that renters will soon start to return to the city.

So if you’re looking to lock down an apartment before prices jump back up, here are five of the “cheapest” apartments available for rent in Toronto right now, courtesy of Zoocasa.

1. 4 Valhalla Boulevard – $900

• Studio
• 1 bath
• No parking
• Less than 200 sq ft
• Heat, hydro, and gas included

2. 1 Hiawatha Road – $1,100

• Studio
• 1 Bath
• 1 Parking
• Front porch with private bbq and high-speed internet included

3. 256 Sherbourne Street – $1,175

• Studio
• 1 bath
• 1 parking
• 700 sq ft
• Oversized basement windows and stainless steel appliances

• See also:
  • This bright downtown Toronto condo is listed for under $400,000 (PHOTOS)
  • Average GTA condo price now just under $700,000
  • What the latest shutdown means for Ontario real estate

4. 3029 Finch Avenue West – $1,200

• Studio
• 1 bath
• No parking
• 0-499 sq ft
• Brand new unit, never lived in

5. 251 Jarvis Street – $1,300

• Studio
• 1 bath
• No parking
• 0-499 sq ft
• Balcony and stainless steel appliances