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Finding an Affordable Apartment in Toronto

If the idea of finding affordable apartments for rent in Toronto sounds like an oxymoron to you, you’re not alone. The housing market – both real estate and rental – is hot in Toronto, where average prices are too high for average people. But is it possible to find below-average-priced rentals that aren’t in subpar condition? Yes.

Lower your expectations

While you want to live in a safe and clean apartment, when it comes to the Toronto market, you need to lower your expectations. How low? Consider the basement.

Yes, basement apartments can be a viable way to rent in Toronto without paying Toronto prices. Basement apartments typically go for less than above-ground accommodations. Basement apartments can come in two forms: in a traditional building or in a single-family home.

Basement units in apartment buildings go for less because they don’t have balconies. Even though basement units have windows, they can get less light. The bottom line is that they just aren’t as popular as above-ground suites. As for basement apartments that are part of a traditional house, these can be an affordable way to move into a nicer neighbourhood on a quieter street. Your basement apartment might come with Wi-Fi, cable and other amenities included in the rent.

Basement room with comfortable sofa

Live that bachelor life

If living in a basement apartment doesn’t appeal to you but you still want to call Toronto home, consider a bachelor apartment. Obviously, bachelor suites aren’t right for everyone, but if it’s just you (or you and your partner), you could make a bachelor apartment work. Yes, there is no formal bedroom, but if you’re a minimalist anyway, you’ll be fine.

Quite often you can configure a bachelor to give you optimal space while having some privacy. Get creative with some folded screens and convertible furnishings to take your place from day to night.

Room interior with cozy bed

Sharing is caring

If Toronto rent is too steep for your income alone, don’t despair … share. Yes, get a roommate. You have to decide what’s more important to you: renting in Toronto or living alone? If you have your heart set on Toronto, find a roomie.
You don’t have to live with a total stranger. First, ask around to see whether anyone is interested in sharing an apartment in Toronto. Maybe you have a friend who is struggling with their rent too. Together, you can rent a decent place in Toronto.

Roommate dynamics can be tricky, but as long as you establish some rules, divide up the chores and respect each other, it can be a great situation.

Whichever way you decide to go, is a great way to find your ideal rental apartment in Toronto. Search for basements, bachelors, 2-bedrooms and more!