Not to state the obvious, but rent prices in Toronto have definitely bounced back since 2020. According to the July rent report by Rentals.ca, Toronto tenants are now paying a staggering $2,192 per month on average for a one-bedroom.
That makes it the second-most expensive city in Canada after Vancouver, where one-bedroom rentals cost $2,412 per month on average.
But, that’s not to say that you can’t find some fabulous apartments for less, you just have to know where to look. We’ve done the hard work for you by finding some of the best one-bedroom apartment rentals in Toronto for below-average prices.
1 Market St, Unit 2607 — $1,950/month
This junior one-bedroom is located in the luxurious “Market Wharf” condos, steps from St. Lawrence Market, with stainless steel European appliances, a washer and dryer, a locker, and views of the city and lake. The building itself also has a state-of-the-art gym and rooftop deck.
310 Lonsdale Rd, Unit LL3 — $1,900/month
This well-maintained unit is located in a low-rise building in the upscale Forest Hill Village area. It features gleaming hardwood floors, stainless steel appliances, and close proximity to shops, restaurants, parks, and transit.
58 Orchard View Blvd, Unit 706 — $,1950/month
You can live in the heart of midtown at this unit in the Neon Condos at Yonge and Eglinton. The one-bedroom rental features stainless steel appliances and floor-to-ceiling windows, as well as access to the building’s amenities which include a party lounge, theatre room, gym, rooftop lounge, and parking garage with car shares and visitor parking.
3464 Yonge St, Unit 27 — $1,900/month
Located in the Yonge and Lawrence area, this newly-renovated, one-bedroom unit comes with all utilities included except for hydro, and is just steps away from transit, shops, restaurants, parks, and services. There’s also laundry on-site and parking available for an extra fee.