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How to Find a Cheap Apartment in Toronto (Under $1500)

Jul 1, 2026

Toronto skyline at night — finding affordable apartments in the city

Cheap apartments for rent in Toronto do exist — where to find a 1 bedroom under $1500, the best-value areas, unit types to target, and scams to avoid.

Cheap Apartments in Toronto: A Reality Check

With the average one-bedroom in Toronto asking around $2,450 per month in early 2026 (see our GTA average rent guide), cheap apartments for rent in Toronto under $1,500 are the exception, not the rule — but they exist. Realistically, a 1 bedroom apartment for rent in Toronto under $1500 means one of four things: a bachelor or studio instead of a true one-bedroom, a basement unit, an older building outside the core, or a shared arrangement. This guide covers where and how to find each, so you spend your search time where the deals actually are.

The Best-Value Areas: Scarborough, North York, Etobicoke and East York

Price drops fast with distance from downtown, and the outer boroughs still have large stocks of older purpose-built apartment buildings — consistently the cheapest non-shared option in the city. Start with apartments for rent in Scarborough, where bachelors and older one-bedrooms come closest to the $1,500 line, then compare North York along the subway, Etobicoke near the lakeshore, and East York's low-rise pockets. If you can go slightly beyond the city, Brampton offers the GTA's lowest one-bedroom averages (around $1,950) with GO transit links.

Unit Types and Timing That Save the Most

Three levers matter more than endless scrolling. Unit type: bachelor and studio apartments routinely rent $400–$700 below one-bedrooms in the same building, and legal basement apartments run cheaper still — just verify the unit is a legal, registered second suite before signing. Building age: older purpose-built rentals (1960s–80s towers) undercut new condos dramatically, and many include heat and water in the rent. Timing: asking rents dip in late fall and winter when fewer people move; a January lease often beats the identical unit listed in September. Have your documents — ID, proof of income, references — ready to apply the same day, because under-market units go fast.

Under-Market Listings and Rental Scams: Red Flags

When a listing looks dramatically cheaper than everything around it, slow down — deeply under-market ads are the classic setup for rental scams. Be suspicious of landlords who cannot show the unit in person, pressure you to e-transfer a deposit to 'hold' the apartment, or copy photos that appear in other listings. Never send money before you have seen the unit (or had someone view it for you) and verified who you are dealing with. In Ontario, only a rent deposit of up to one month (applied to last month's rent) and a refundable key deposit are legal — a 'damage deposit' demanded up front is not, which is covered in our Ontario standard lease guide.

FAQ: Finding a Cheap Apartment in Toronto

Can I find a 1 bedroom apartment in Toronto under $1500?

It is rare downtown but possible in outer areas — mainly older buildings and basement units in Scarborough, North York, Etobicoke and East York. Bachelors and studios under $1,500 are considerably easier to find than true one-bedrooms.

What are the cheapest areas to rent in Toronto?

Scarborough is typically the most affordable borough, followed by parts of North York, Etobicoke and East York. Older purpose-built buildings in these areas offer the lowest non-shared rents in the city.

Is it possible to rent in Toronto for under $1000?

Under $1,000 almost always means a room in a shared apartment or house rather than a self-contained unit. Rooms in the outer boroughs commonly list between $700 and $1,000 per month.

How do I avoid scams when looking for cheap apartments?

Never pay a deposit before viewing the unit and verifying the landlord, avoid listings priced far below the local market, and be wary of anyone who refuses an in-person showing or pushes for an immediate e-transfer.

Start Your Budget Search on GottaRent

Set your maximum budget, filter by bachelor and one-bedroom units across Toronto, Scarborough, North York and Etobicoke, and check back often — the best-priced units rarely last a week.

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