5 Condos You Can Rent in Toronto Below the Current Average Price

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#323 - 3560 St Clair Avenue East

We hate to be the bearer of bad news, but the average cost for a one-bedroom in the city has officially surpassed the $2,300 price point and now sits at $2315 per month. This can be discouraging for those looking for a new place to rent in Toronto. But luckily, there are plenty of condos available for rent in the city that are below the current average, you just need to know where to look.

READ: Toronto Eclipses $2300 Average for 1-Bedroom Rentals: Report

So we’ve gone and done the hard work for you and rounded up five rental listings in five different neighbourhoods priced under the current average for a one-bedroom. But what we’ve learned is that if you want something remotely spacious you’re going to have to look outside of the downtown core or find a roommate (or two).

Read on to see what you can get in CityPlace, Islington City Centre West, Thorncliffe Park, the Scarborough Junction, and King West for well below the average price of a condo rental in the city.

CityPlace

#901 – 4K Spadina Avenue
rent in Toronto
#901 – 4K Spadina Avenue
rent in Toronto
#901 – 4K Spadina Avenue

Price: $1,950/month

Square Feet: 500-599

Bedrooms: 1

Address: #901 – 4K Spadina Avenue

This is one of the smaller condos of the bunch and it’s going for $1,950/month. But even though it’s a small space, it comes with a nice washroom with a tub and the kitchen is separated from the rest of the apartment, which is a plus. Moreover, it was recently painted, comes with a storage locker, and is steps from a grocery store, the TTC, banks, restaurants, and much more. It’s located on 4K Spadina in the heart of CityPlace.

Islington City Centre West

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Unit 3101 – 225 Sherway Gardens Rd
Unit 3101 – 225 Sherway Gardens Rd
Unit 3101 – 225 Sherway Gardens Rd

Price: $2000/month

Square Feet: 600-699

Bedrooms: 1

Address: Unit 3101 – 225 Sherway Gardens Road

In Etobicoke, a spacious one-bedroom is going for $2,000/month. The recently renovated unit has a balcony with unobstructed views, an open concept floor plan, stainless steel appliances, and a washer and dryer. Plus, it’s minutes away from Sherway Gardens.

Thorncliffe Park

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#505 – Leaside Park Drive
#505 – Leaside Park Drive
#505 – Leaside Park Drive

Price: $2000/month

Square Feet: Almost 800

Bedrooms: 1

Address: #505 – Leaside Park Drive

A bright one-bedroom in Thorncliffe Park is renting for an even $2000 a month. The bedroom has a closet and window, while the spacious kitchen has sleek appliances and a breakfast bar that opens into the living room. Plus there’s a balcony, a washer and dryer, as well as a Murphy bed built into a panelled cupboard for guests and even more storage. The building is located on 1 Leaside Park Drive.

Scarborough Junction

#323 – 3560 St Clair Avenue East
#323 – 3560 St Clair Avenue East
#323 – 3560 St Clair Avenue East

Price: $2,200/month

Square Feet: 800-899

Bedrooms: 2

Address: #323 – 3560 St Clair Avenue East

In the Scarborough Junction, a one-bedroom condo in a boutique-style building is asking $2,200/month. The listing says the unit has a split layout floor plan with ensuite laundry, two full washrooms, modern appliances, a balcony, and a cozy den, which could be used as an office or for storage. But above all, it looks spacious and even gives you the option of living with a roommate if you need to.

King West

Unit 4212 – 87 Peter Street
Unit 4212 – 87 Peter Street
rent in Toronto
Unit 4212 – 87 Peter Street

Price: $2,200/month

Square Feet: 500

Bedrooms: 1

Address: Unit 4212 – 87 Peter Street

If location is what you’re after, this one-bedroom in the heart of the city’s King West neighbourhood is definitely it. For $2,200 a month, not only do you get a “proper bedroom with a real window,” but also 9-foot ceilings, built-in appliances, quartz countertops, and a stunning view from the 42nd floor.

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