Here are the cheapest rentals available in Toronto right now (PHOTOS)

301 - 77 Mutual Street/Living Realty

Finding an affordable apartment in Toronto can seem like an impossible task, especially as rents continue to rise with each new month.

According to recent data from Rentals.ca and Bullpen Research & Consulting, the average rent in the city hit $2,694 in August.

The average one-bedroom now costs $2,329 per month — a 17.1% increase from a year ago — while a two-bedroom runs $3,266, an annual rise of 24.3%.

However, if you’re willing to live in a slightly smaller space or don’t need parking, you can still find a place to live in the city for well below those sky-high figures.

Here are five of the cheapest rentals currently available in Toronto, courtesy of Zoocasa.

1. 322 – 58 Marine Parade Drive | $1,750

Westview Realty

Studio
One bathroom
0-499 square feet
One parking space

An “immaculate and versatile” unit, this studio has floor-to-ceiling windows, granite countertops, and a large storage locker. It’s located in a waterfront building that’s close to transit, restaurants, and shops.

2. l4 – 778 Broadview Avenue | $1,825

Forest Hill Real Estate

Studio
One bathroom
0-499 square feet
One parking space

Although it’s a lower-level unit, this studio has above-grade windows and is very bright. It has lots of closet space and is located near the shops and restaurants of The Danforth. Parking is available for $150 per month, but the unit is across the street from the subway.

3. 301 – 77 Mutual Street | $1,850

Living Realty

Studio
One bathroom
0-499 square feet
No parking

This furnished bachelor has floor-to-ceiling windows and ensuite laundry. The building offers an exercise room and 24-hour concierge and is conveniently located near the Eaton Center and Yonge-Dundas Square.

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4. 218 – 60 George Butchart Drive | $1,999

REXIG Realty Investment Group

Studio
One bathroom
0-499 square feet
No parking

Overlooking Downsview Park, this brand new studio features a modern kitchen with stainless steel appliances and granite countertops. The building offers ample amenities including a fitness room, BBQ area, and 24-hour concierge.

5. 1018 – 275 Village Green Square | $2,200

Homelife Silvercity Realty

One-bedroom
One bathroom
500-599 square feet
One parking space

This spacious suite has a functional, open-concept layout and features laminate floors, granite countertops, stainless steel appliances, and a Juliet balcony. Building amenities include a gym, party room, games room, and guest suites.