Moving to a vibrant and diverse city like Toronto is an exciting adventure, but finding affordable housing in this bustling metropolis can be daunting, especially for newcomers. With its thriving job market, cultural attractions, and diverse neighbourhoods, Toronto
is a popular destination for immigrants and newcomers to Canada. However, living in Canada and finding housing that fits your budget can be a challenge with the city’s competitive real estate market.
Understanding Toronto Neighbourhoods
Knowing the different Toronto neighbourhoods is important before looking for cheap housing. The city has multiple specialised regions where you can experience a mix of culture, facilities, and homes.
- Downtown Toronto is known for its convenience and proximity to cultural attractions, employment centres, and landmarks.
- Areas like King West and Liberty Village cater to those who thrive in the energetic city life, offering high-rise condos, nightlife, and proximity to major entertainment venues.
- Housing costs in the downtown core are relatively high. Depending on the size and amenities, a one-bedroom condo or apartment in the Financial District or Entertainment District can range from $2,500 to $4,000 monthly.
- The St. Lawrence Market area also offers upscale housing options with similar rental prices.
- Midtown Toronto offers a quieter residential atmosphere while close to downtown amenities.
- In Midtown, you encounter places like Yonge & Eglinton, a popular spot for young professionals, and the relaxed Davisville Village, which balances affordability and proximity to downtown. The affluent Rosedale/Summerhill areas offer beautiful houses and a sense of community.
- Depending on the building and location, a one-bedroom apartment in these areas can range from $2,000 to $3,500 monthly.
East End and West End
- Toronto’s east and west ends are generally more affordable than downtown and midtown.
- In the West End, neighborhoods like The Annex, known for its youthful energy, and Roncesvalles, a blend of Polish heritage and hipster culture, offer a range of experiences. The west is also home to Kensington, a fiercely independent neighborhood with a bohemian spirit and easy access to downtown. High Park is also a nieghbourhood popular amongst new immigrants.
- In the East End, Danforth-Greektown, a family-friendly haven known for its safety and annual Taste of Danforth festival. Further east, Leslieville and Little India present a creative haven with independent shops and diverse culinary experiences.
- While a little more towards the suburbs, neighbourhoods in Scarborough, Etobicoke, and Brampton offer a range of housing options at a more affordable cost.
- Rental prices for a one-bedroom apartment in these neighbourhoods start at around $1,500 to $2,500 monthly, depending on the location and the property’s condition.
- Housing in these areas may include more single-family homes with varying purchase prices, starting at around $700,000 to $1.5 million, depending on the neighbourhood and property size.
Do thorough research.
Toronto’s east and west parts are generally cheaper than downtown and midtown areas. There are neighbourhoods in Scarborough, Etobicoke, and the like with numerous options for accommodation. The costs of living in such places may vary significantly.
The cost for a one-bedroom flat in these areas is likely to begin at $1,500 to $2,500 per month, depending upon the particular spot and the condition and nature of the place. They usually comprise more standalone houses with purchase prices ranging from around $700,000 to $1.5 million in some Toronto neighbourhoods, depending on the location and plot size.
These amounts are just estimates, and Toronto’s housing market is ever-changing; housing and rent prices may vary. A number of factors may affect housing prices – market conditions, the supply of available properties, and demand in certain communities. We recommend checking current rental and housing listings and contacting local real estate agents for the latest living costs in Toronto.
Leverage online resources.
The internet could be your greatest resource when finding affordable accommodation in today’s digital age. Websites and apps like Kijiji, Craigslist, or Realtor.ca are good resources for finding rental listings. Also, other social media communities and forums are dedicated to the newly arrived in Toronto with lots of good information and opportunities.
Consider roommates and shared housing.
Sharing an apartment is very effective in cutting down on the cost of housing. Newcomers in the city will often room together to economise and have company. From platforms such as SpareRoom, Facebook groups, or even flatshare websites, there are plenty of options for meeting people you can live with.
Explore government assistance programmes.
Several government programmes in Canada are designed to assist new arrivals and low-income families in accessing affordable housing opportunities. The one mentioned here is Housing Allowance for Newcomers, a programme designed to offer monetary assistance to any eligible new arrival to cover the rent in the first year of residing somewhere. Do your due diligence and look into these programmes to see if you’re eligible.
Living in Toronto, Canada
presents a lot of excitement and promising opportunities. But we need to recognise how difficult it is to find housing in a city that is famously expensive to live in. Instead of accepting anything at face value, you can take some time to travel to different neighbourhoods of Toronto, investigate how much things cost (cost of living in Toronto), use all online tools, and explore government programmes.