These are the 5 "cheapest" rentals in Toronto right now

Rental prices in Toronto have dropped dramatically over the past 12 months to some of the lowest rates we have seen in years. This month’s round-up of the cheapest rentals in Toronto gives just a snapshot of these less pricey options.

One-bedrooms in Toronto dropped a whopping 23% from February 2020 to February of this year, with the average price hitting a low of $1,770, according to a recent PadMapper Canadian Rent Report. An average one-bedroom rental price that low hasn’t been seen in the city since 2017.

With monthly rent prices expected to rise 4% by the end of the year, if you’ve been considering moving into a new rental apartment or perhaps renting for the first time, now may be the moment to do it.

Here are five of the cheapest rentals currently available in Toronto to give you a peek at some of the lower-priced options on the market, all recently listed by Zoocasa.

• See also:
  • Gorgeous one-bedroom Toronto houseboat on the market for under $340,000 (PHOTOS)
  • There’s a Yorkville condo that just hit the market for under $380,000 (PHOTOS)
  • This uninhabitable Toronto home is on the market for almost $800,000

1. 1237 Glencairn Avenue – $999

• 1 bedroom basement apartment
• 1 bathroom
• No parking
• Shared backyard and laundry

2. 276 Ossington Avenue – $1,099

• Basement apartment
• 1 bathroom
• No parking
• Exposed brick walls, all utilities included

3. 603 Ossington Avenue – $1,100

• 1 bedroom basement apartment
• 1 bathroom
• No parking
• Large additional den, all utilities included

4. 138 Johnston Avenue – $1,100

• Basement apartment
• 1 bathroom
• No parking
• Private laundry in-unit, recently renovated bathroom

5. 123 Woodbine Avenue – $1,150

• Studio
• 1 bathroom
• 1 parking
• Balcony, locker included