The city of Toronto has many different neighbourhoods and pockets to live in. When deciding where to live you may want to factor in the costs of living, especially with how expensive it can get to live in the city these days.
According to liv.rent’s data, Rexdale-Kiping, tucked in Toronto’s Northwest Corner, is Toronto’s cheapest neighbourhood to rent in. The breakdown says the area is “significantly less expensive to rent here than almost anywhere else in the city, at an average of $1,750 for a one-bedroom unit.”
2. West Hill
West Hill is listed as the second cheapest neighbourhood and is located in Toronto’s southeast area. Known as a family-friendly neighbourhood with lots of green spaces and amenities, the area is close to Morningside and Colonel Danforth Parks. An average one-bedroom apartment costs $2,088 per month to rent here.
The west-end neighbourhood of Parkdale has grown in popularity over the years and is one of the more affordable spots. Liv.rent lists the area as the third cheapest with average rent in the neighbourhood at $2,200 for a one-bedroom unit.
4. Forest Hill
Despite being one of Toronto’s wealthiest neighbourhoods, Forest Hill also offers some of the city’s cheapest average rent. Data from Zumper has the area’s rent at $2,200 per month for a one-bedroom unit.
5. Saint James Town
Saint James Town is just to the east of Toronto’s downtown core and offers better value than some of the neighbourhoods surrounding it. If you’re looking in this area you can expect a one-bedroom apartment to rent for an average of $2,305 per month.
6. The Annex
The Annex is located just north of Yorkville, boasting a more residential feel than Toronto’s downtown, although it is still nearby. The Annex’s average one-bedroom unit costs around $2,375 per month.
7. Davisville Village
Located between Eglinton and St. Clair is Davisville Village. Located right on the subway line, the average price for a one-bedroom in this well-connected neighbourhood is $2,384 per month.
Close by Davisville Village is another neighbourhood on the list of cheapest neighbourhoods to rent, Rosedale. Liv.rent notes the area has a diverse appeal, renting at an average of $2,458 per month for a one-bedroom unit.
If you want a full breakdown of each neighbourhood, you can check them out here.
To give an even more detailed look at rent in Toronto compared to other areas in the GTA, liv.rent also broke down the city’s average rent for an unfurnished one-bedroom unit compared to other GTA cities, with Toronto’s average at $2,407 per month.
According to the list, Brampton is the cheapest followed by Scarborough, Vaughan-Richmond Hill and Markham.
Now you’re in the know, Toronto!