The top 5 neighbourhoods for cheap rent in Toronto

What Toronto neighbourhoods offer the best mix of amenities, transit accessibility, and cheap rent? As a general rule, this alluring package is found in places away from downtown but that are (importantly) proximate to the subway. In other words, this list does not offer a guide to the cheapest rent in Toronto, but is meant for those with champagne tastes on a beer budget.

Here are five Toronto neighbourhoods with plenty of amenities and rent within reach.

Davenport Village
An above ground one bedroom apartment can still be found for $1000 or less in Davenport Village. You can get cheaper rent by heading north to the Rogers Rd. area, but only at the expense of subway accessibility. This up and coming neighbourhood is witnessing a rise in restaurant/retail offerings and is still less than a 15 minute walk from most nearby TTC stations.

Broadview and Danforth
You're unlikely to find great deals on units in the multiple property-managed apartment buildings around Broadview and Danforth (bachelors start at $950), but rentals in the various houses within about 10-15 minutes of Broadview station are often very competitive (recent listings show a range between $875-1050) for above ground one bedroom units.

Christie Pits
You'd think Christie Pits would have become one of those unreachable neighbourhoods for those who can't spend more than $1000 on rent per month, but apartment listings sites tell another story with plentiful offerings in that price range. This area is blessed with multiple grocery stores, subway accessibility, and one of the city's best parks.

Corso Italia
The western reaches of St. Clair, particularly on the residential streets north of the main thoroughfare, is a great place to seek out high-value apartment rentals. Subway proximity is poor, but the streetcar ROW makes a big difference in keeping this neighbourhood well served by transit. It also boasts a bustling restaurant and cafe scene.

Upper/East Leslieville
This isn't one neighbourhood, of course, but a collection that includes Little India, Blake-Jones, the Pocket, and Bricktowne (if you're sold on the name). I lump them together because the rental pricing is mostly consistent here, as are the amenities. You'll have to walk 10-15 minutes to get to the subway or 501 streetcar, but the entire area is in the midst of major revitalization.

A note on criteria: This is not a scientific exercise in tracking average rental prices across the city, but is based on a month of monitoring popular apartment rental listings sites. The goal here is to highlight those neighbourhoods that offer the best bang for one's buck at present in Toronto.

What did I miss? Add your picks for value-driven neighbouroods in the comments

Photo by Livinginacity in the blogTO Flickr Pool.

by Derek Flack via blogTO