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10 Cheapest Places to Live in Toronto

10 Cheapest Places to Live in Toronto

Toronto is an expensive city – that much is true, but living here doesn’t have to cost an arm and a leg. Believe it or not, there are some surprisingly affordable places to live in this vibrant Canadian metropolis.

The cheapest places to live in Toronto are generally in the suburbs and smaller towns outside of the city. Some of these are Scarborough, East York, Weston, West Humber-Clairville, and Rexdale-Kipling.

For instance, the cost of living in Scarborough is 10% lower than the Toronto average, according to AreaVibes. In addition, its housing prices are 22% lower than the national average.

To understand better, read on as we’ll go through more of the cheapest places that you can choose—no strings attached! From charming community neighbourhoods to vibrant downtown districts, these areas are sure to meet all your budget-friendly needs.

1. Scarborough

Scarborough's Homepage
Rental Rates in Scarborough
Studio apartment$2,500
1-bedroom apartment$2,500
2-bedroom apartment$2,850
3-bedroom apartment$2,600
Data sourced from: Zumper
Average bus ticket price$8 – $16

If you’ve ever been to Toronto, you know that the city is full of life. But, did you know that it is also home to some of the most affordable living in all of Canada? 

That’s right, if you look in all the right places, you can find yourself a serious bargain. Take Scarborough for example. 

While it may not be the most glamorous part of town, it is certainly one of the cheapest places to live. It’s easy to get downtown from here via public transit—if counting your pennies is a priority—so don’t forget about this place when house hunting! 

In addition, there are many malls and shopping centres in Scarborough, including the iconic Scarborough Town Centre. There are also plenty of smaller stores and restaurants scattered throughout the area.

2. East York

East York's Homepage
Rental Rates in East York
Studio apartment$1,124 – $1,996
1-bedroom apartment$1,663 – $2,449
2-bedroom apartment$1,899 – $3,110
3-bedroom apartment$2,249 – $4,855
Data sourced from: RentCafe
Average bus ticket price via TTC$8 – $16

East York is one of the city’s oldest (and cheapest) boroughs, but it’s earned its place as one of Toronto’s best.  East York is known for having some of the most affordable housing in Toronto, along with its parks, amenities and a generally low cost of living. 

Plus, it has a great selection of cafes and restaurants – so you won’t have to worry about trekking across town every time you feel like a latte. But that’s not all, according to Toronto Police Service data, East York has a lower crime rate than the city average. 

East York also boasts plenty of green spaces (hello picnic season!), which means plenty of opportunities to escape the hustle of city living.  It also has solid public transportation options – so you don’t have to break the bank to get around town either. 

With all these benefits combined, this charming neighbourhood might just become your newest bestie in no time.

3. Weston

Weston's Homepage
Rental Rates in Weston
Studio apartment$1,638
1-bedroom apartment$2,239
2-bedroom apartment$2,658
Data sourced from: Zumper
Average bus ticket price via TTC$3.70 – $16.35

Looking for a place that fits your budget, but still delivers all the hustle and bustle of Toronto? Look no further than Weston—a cosy neighbourhood in the city’s west end.

It has all the amenities of a big city but without the hefty price tag—it’s one of the cheapest places to live in Toronto. With easy access to public transit, grocery stores, restaurants, and parks, Weston has everything you need without breaking the bank.

In addition to being a safe city, it’s also close to High Park and Humber Bay Shores, where you can enjoy nature while still being connected to downtown Toronto. 

Moreover, it also has many shops and restaurants including Starbucks, Indigo Books & Music and Pizzeria Libretto. There are also some great hidden gems like the West End Bakery which sells delicious sandwiches made with fresh baked breads and pastries! 

4. West Humber-Clairville

West Humber-Clairville's Homepage
Rental Rates in West Humber-Clairville
Studio apartment$1,259 – $1,763
1-bedroom apartment$1,500 – $2,450
2-bedroom apartment$2,200 – $2,992
3-bedroom apartment$2,550 – $4,017
Data sourced from: RentCafe
Average bus ticket price via Subway$3.10 – $3.30

If you’re looking for an affordable place to live in Toronto, West Humber – Clairville should be on your list. Quaint and quiet, this neighbourhood is a great option for young families or those who simply want peace and calm in their lives.

The good news about West Humber – Clairville is that it’s not only affordable, but it’s also close to all the conveniences you need – like grocery stores, restaurants, parks and more.

From bustling downtown streets to cosy residential areas, it has everything you need to make your home comfortable. Plus, if your budget allows for a slightly larger investment, West Humber-Clairville has tons of neat condos available too! 

The safety index of West Humber-Clairville is generally considered to be average for the city of Toronto. There are certain areas of the neighbourhood that may have higher crime rates than others, but overall, it is not considered to be a high-crime area.

Whether you’re looking for a place near the lake or some fantastic views of downtown Toronto – this is the spot for you. So go and consider making West Humber-Clairville your new home—your wallet will thank you!

5. Rexdale-Kipling

Rexdale Kiplings Homepage
Rental Rates in Rexdale-Kipling
Studio apartment$1,259 – $1,624
1-bedroom apartment$1,399 – $2,494
2-bedroom apartment$2,200 – $3,303
3-bedroom apartment$2,550 – $4,017
Data sourced from: RentCafe
Average bus ticket price via Subway$5

What used to be a small farming village has now been transformed into one of the cheapest places to live in Toronto. Nestled between Highway 401 and the Humber River, Rexdale is great for newcomers who are looking for the best bang for their buck.

The affordability isn’t the only perk of this Toronto neighbourhood as it is also considered as a safe place to live in. The Rexdale-Kipling area even offers plenty of parks, sports facilities, and trails making it an ideal destination for outdoor adventurers. 

Plus, with plenty of local shops, markets, and eateries, there’s something here for everyone. 

On top of that, it is also home to two universities—University of Toronto Scarborough Campus (UTSC) and Centennial College Ashtonbee Campus—making it a great option for students looking to save on rent. 

6. York University Heights

York University Heights' Homepage
Rental Rates in York University Heights
Studio apartment$1,259
1-bedroom apartment$1,850
2-bedroom apartment$2,399
3-bedroom apartment$2,549
Data sourced from: Zumper
Average bus ticket price via Subway$4

If you’re looking for an affordable yet exciting place to live, then this is the place for you. The neighbourhood is teeming with university students walking out and about on sunny days, grabbing coffee or lunch or heading home to study in their apartments. 

Plus, the area has tons of amenities like shopping malls, theatres and fitness centres. But why is it so inexpensive? 

For one thing, most of the housing options consist of high-density rental apartments, rather than the single-family homes that are common in the more affluent parts of town. 

On top of that there’s a lot of student housing which keeps rent prices lower than most other neighbourhoods. Plus there are lots of smaller apartment buildings that are close to all the fun things going on around campus.

7. Black Creek

Black Creek's Homepage
Rental Rates in Black Creek
Studio apartment$1,736
1-bedroom apartment$2,061
2-bedroom apartment$2,454
3-bedroom apartment$2,636
Data sourced from: Rent Seeker
Average bus ticket price via Subway$4

The cheapest places to live in Toronto come in all shapes and sizes. Take Black Creek, for instance: nestled near Steeles Avenue West, it’s a tranquil retreat that offers an amazing quality of life on a budget. 

It’s perfect for those looking to experience some safe and affordable suburban peace and quiet. Black Creek’s low-cost housing is its calling card—you can find single-family homes and apartments that won’t break the bank. 

But what if you not only need an affordable place to stay but also want fun activities nearby? Don’t worry, Black Creek has your back! 

So if you’re looking for a cosy place with plenty to do, Black Creek might be the pocket of Toronto you’ve been searching for!

8. Woburn

Woburn's Homepage
Rental Rates in Woburn
Studio apartment$1,300
1-bedroom apartment$2,169
2-bedroom apartment$2,480
3-bedroom apartment$2,599
Data sourced from: Zumper
Average bus ticket price via Bus$54.69

Woburn is an area of Toronto that gives you lots of bang for your buck. Whether you want an apartment, townhouse or house, this place has it all without breaking the bank. 

The area boasts easy access to big box stores and plenty of parks, making it a perfect spot for any family who wants to stretch their budget further.

Though you may think a low-cost living would come with some trade-offs, Woburn makes sure you don’t have to sacrifice convenience for a cosy price tag:

  • Close proximity to transit lines so that you don’t spend all your dough on parking.
  • Eateries that offer both deliciousness and deliverance without the hefty delivery fee.
  • Grocery stores with quality produce and household items at prices that won’t make your wallet cry.

So if you’re looking for a place in Toronto that doesn’t require taking out a loan, think about Woburn! Better yet, why not give it (and its wallet-friendly offerings) a visit since you won’t regret it!

9. Mimico-New Toronto

Mimico-New Toronto's Homepage
Rental Rates in Mimico
Studio apartment$1,345
1-bedroom apartment$2,210
2-bedroom apartment$2,675
3-bedroom apartment$4,500
Data sourced from: Zumper
Average bus ticket price via Train$3.74 – $5.34

Though it may not be the most glamorous neighbourhood in Toronto, it definitely has a lot to offer. Not only is it one of the cheapest places to live in the city, but you also get access to some great amenities like schools, libraries, parks and shops.

One of the best things about this neighbourhood is its location—it’s right on Lake Ontario and a few minutes away from downtown. Talk about having your cake and eating it too! 

Better yet, Mimico Station makes getting around super easy for commuters. So why is it so affordable? 

Well, for starters, you can get a one bedroom apartment for as little as $1,200 per month. In addition to that access to grocery stores, cafes and restaurants just down the road and you have yourself an unbeatable deal. 

Plus there’s no shortage of parks and green spaces nearby—perfect if you’re looking for a little nature break during your days off.

10. Etobicoke

Etobicoke's Homepage
Rental Rates in Etobicoke
Studio apartment$1,300
1-bedroom apartment$1,800 – $2,795
2-bedroom apartment$1,950 – $5,639.
3-bedroom apartment$2,100 – $6,845
Data sourced from: RentCafe
Average bus ticket price via TTC$3.35

Welcome to Etobicoke, the westernmost borough of Toronto—one of the cheapest places to live in this city. The thing about Etobicoke is it often gets overshadowed by the glitz and glamour of downtown living, but don’t let that fool you—it’s got a lot going for it!

You’ve got access to plenty of amenities like grocery stores, parks, and libraries. Plus plenty of public transportation options so you won’t have to worry about trying to find a parking spot. 

The cost of living here is incredibly affordable. Housing prices are more reasonable than in other areas of the city and there are plenty of rentals available too. Plus restaurants, pubs and nightlife options for those nights when downtown doesn’t quite cut it.

So if you’re looking for an affordable place to live in Toronto with all the bells and whistles, look no further than Etobicoke!


• It’s close to downtown Toronto.

• It has a good public transit system.

• There are lots of parks, museums and other tourist attractions nearby.

• There aren’t many parks in Etobicoke and most are not maintained properly.

• The streets are not well lit and most sidewalks are not paved.

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