Toronto's Most Affordable Neighborhoods: Perks, Downsides and How Renting With Chexy Can Benefit You.

Sep 18, 2023

Toronto's downtown core is known for its high cost of living, but there are still some neighborhoods in the area where you can find affordable rental options. In this article, we will take a closer look at some of downtown Toronto's least expensive neighborhoods to rent in, including their perks and downsides. We’ll also take a look at what you could earn when you pay rent with Chexy and how it can help you rent better. 

Church and Wellesley


Church and Wellesley is a neighborhood located just east of downtown Toronto. It is known for its vibrant LGBT community, as well as its numerous restaurants, cafes, and shops. Rental prices in Church and Wellesley can range from $1,800 to $2,700 for a one-bedroom apartment. The area is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Church and Wellesley is a lively and welcoming neighborhood with a diverse population and plenty of amenities. It is home to many cultural events and festivals throughout the year, including the Toronto Pride Parade. The area is also well-connected to other parts of the city, making it easy to get around without a car.

Downsides: While Church and Wellesley is generally considered safe, some residents have reported feeling uncomfortable walking alone at night. Rental prices in the area can also be on the higher end of the spectrum compared to other neighborhoods in this list.


Kensington Market


Kensington Market is a bohemian neighborhood located just west of the downtown core. The area is known for its diverse population, funky boutiques, and vibrant street art scene. Rental prices in Kensington Market can range from $1,700 to $2,200 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Kensington Market is a unique and eclectic neighborhood that is full of character and charm. The area is home to many independent shops, cafes, and restaurants, making it a great place to explore and try new things. The neighborhood is also known for its sense of community, with many residents taking an active role in local events and initiatives.

Downsides: Kensington Market can be quite busy and crowded, especially during peak hours. Parking can be difficult to find, and rental prices in the area can be on the higher end of the spectrum.


Alexandra Park


Alexandra Park is a neighborhood located just south of Kensington Market. The area is known for its diverse population, beautiful park, and easy access to downtown Toronto. Rental prices in Alexandra Park can range from $1,900 to $2,600 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Alexandra Park is a quiet and peaceful neighborhood that is close to many downtown attractions. The area is home to Alexandra Park, which offers plenty of green space and recreational activities. The neighborhood is also known for its sense of community, with many residents taking an active role in local events and initiatives.

Downsides: While Alexandra Park is generally considered safe, some residents have reported feeling uncomfortable walking alone at night. The area can also be quite busy during peak hours, with traffic congestion and noise pollution being potential issues. Rental prices in the area can also be on the higher end of the spectrum compared to other neighborhoods in this list.

  1. Regent Park

Regent Park is a neighborhood located just east of the downtown core, adjacent to Moss Park. The area has undergone significant redevelopment in recent years, and it is now home to many modern apartment buildings and townhomes. Rental prices in Regent Park can range from $1,800 to $2,400 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Regent Park is a diverse and vibrant neighborhood that is well-connected to other parts of the city. The area is home to many community initiatives and programs, as well as a large community center and sports facilities. The neighborhood is also undergoing ongoing revitalization efforts, which has improved the quality of life for residents.

Downsides: While Regent Park is generally considered safe, some residents have reported experiencing crime and safety concerns in the area. The neighborhood can also be quite busy and crowded during peak hours, and rental prices can be on the higher end of the spectrum compared to other neighborhoods in this list.


St. James Town


St. James Town is a neighborhood located just east of Church and Wellesley, and it is known for its high population density and diverse population. Rental prices in St. James Town can range from $1,700 to $2,300 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: St. James Town is a multicultural and vibrant neighborhood that is home to many community initiatives and programs. The area is also well-connected to other parts of the city, making it easy to get around without a car. Rental prices in the area are relatively affordable compared to other downtown neighborhoods.

Downsides: St. James Town is known for its high population density, which can make the neighborhood feel crowded and busy. The area has also experienced some crime and safety concerns in the past, although ongoing community initiatives and programs are helping to address these issues. Additionally, the neighborhood can be noisy due to its high population density and proximity to downtown Toronto.



In conclusion, while downtown Toronto is generally known for its high cost of living, there are still some neighborhoods in the area where you can find affordable rental options. Each neighborhood has its own unique perks and downsides, and it's important to consider your personal preferences and needs when choosing where to live. With the help of Chexy, you can start maximizing your savings and earn rewards on every rent payment you make. Start renting better and let your rent and everyday shopping work for you by renting with Chexy. 

Toronto's downtown core is known for its high cost of living, but there are still some neighborhoods in the area where you can find affordable rental options. In this article, we will take a closer look at some of downtown Toronto's least expensive neighborhoods to rent in, including their perks and downsides. We’ll also take a look at what you could earn when you pay rent with Chexy and how it can help you rent better. 

Church and Wellesley


Church and Wellesley is a neighborhood located just east of downtown Toronto. It is known for its vibrant LGBT community, as well as its numerous restaurants, cafes, and shops. Rental prices in Church and Wellesley can range from $1,800 to $2,700 for a one-bedroom apartment. The area is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Church and Wellesley is a lively and welcoming neighborhood with a diverse population and plenty of amenities. It is home to many cultural events and festivals throughout the year, including the Toronto Pride Parade. The area is also well-connected to other parts of the city, making it easy to get around without a car.

Downsides: While Church and Wellesley is generally considered safe, some residents have reported feeling uncomfortable walking alone at night. Rental prices in the area can also be on the higher end of the spectrum compared to other neighborhoods in this list.


Kensington Market


Kensington Market is a bohemian neighborhood located just west of the downtown core. The area is known for its diverse population, funky boutiques, and vibrant street art scene. Rental prices in Kensington Market can range from $1,700 to $2,200 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Kensington Market is a unique and eclectic neighborhood that is full of character and charm. The area is home to many independent shops, cafes, and restaurants, making it a great place to explore and try new things. The neighborhood is also known for its sense of community, with many residents taking an active role in local events and initiatives.

Downsides: Kensington Market can be quite busy and crowded, especially during peak hours. Parking can be difficult to find, and rental prices in the area can be on the higher end of the spectrum.


Alexandra Park


Alexandra Park is a neighborhood located just south of Kensington Market. The area is known for its diverse population, beautiful park, and easy access to downtown Toronto. Rental prices in Alexandra Park can range from $1,900 to $2,600 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Alexandra Park is a quiet and peaceful neighborhood that is close to many downtown attractions. The area is home to Alexandra Park, which offers plenty of green space and recreational activities. The neighborhood is also known for its sense of community, with many residents taking an active role in local events and initiatives.

Downsides: While Alexandra Park is generally considered safe, some residents have reported feeling uncomfortable walking alone at night. The area can also be quite busy during peak hours, with traffic congestion and noise pollution being potential issues. Rental prices in the area can also be on the higher end of the spectrum compared to other neighborhoods in this list.

  1. Regent Park

Regent Park is a neighborhood located just east of the downtown core, adjacent to Moss Park. The area has undergone significant redevelopment in recent years, and it is now home to many modern apartment buildings and townhomes. Rental prices in Regent Park can range from $1,800 to $2,400 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: Regent Park is a diverse and vibrant neighborhood that is well-connected to other parts of the city. The area is home to many community initiatives and programs, as well as a large community center and sports facilities. The neighborhood is also undergoing ongoing revitalization efforts, which has improved the quality of life for residents.

Downsides: While Regent Park is generally considered safe, some residents have reported experiencing crime and safety concerns in the area. The neighborhood can also be quite busy and crowded during peak hours, and rental prices can be on the higher end of the spectrum compared to other neighborhoods in this list.


St. James Town


St. James Town is a neighborhood located just east of Church and Wellesley, and it is known for its high population density and diverse population. Rental prices in St. James Town can range from $1,700 to $2,300 for a one-bedroom apartment. The neighborhood is well-served by public transportation, with easy access to the subway and streetcar lines.

Perks: St. James Town is a multicultural and vibrant neighborhood that is home to many community initiatives and programs. The area is also well-connected to other parts of the city, making it easy to get around without a car. Rental prices in the area are relatively affordable compared to other downtown neighborhoods.

Downsides: St. James Town is known for its high population density, which can make the neighborhood feel crowded and busy. The area has also experienced some crime and safety concerns in the past, although ongoing community initiatives and programs are helping to address these issues. Additionally, the neighborhood can be noisy due to its high population density and proximity to downtown Toronto.



In conclusion, while downtown Toronto is generally known for its high cost of living, there are still some neighborhoods in the area where you can find affordable rental options. Each neighborhood has its own unique perks and downsides, and it's important to consider your personal preferences and needs when choosing where to live. With the help of Chexy, you can start maximizing your savings and earn rewards on every rent payment you make. Start renting better and let your rent and everyday shopping work for you by renting with Chexy.