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What are the best neighborhoods in Toronto for renters? There’s no one “best” place – any part of the city can be great if it suits your needs. “Best” really depends on what you’re looking for. But there are definitely parts of the city that are more popular with renters. These neighborhoods have lots of rental supply, great access to transit and highways and are in developed areas with a ton of great amenities, restaurants and shops, all in easy walking distance.
Our top 5 rental neighborhoods in Toronto
Yonge & Sheppard
Photo credit: Urban Toronto
This dynamic neighbourhood is right on the subway line, so the ride to downtown is fast and direct – you can get there in about 25 minutes. It's super-walkable, with lots of shopping and restaurants, and a nice mix of stacked downs and high rises. And the best part? The pricing: you can get a lot more for your money compared to downtown, while still having great access to the core.
Don Mills & Sheppard
Photo credit: Livabl
This area may be a little further out, but it’s ideal for renters looking for value and a super-livable neighbourhood. There's quick access to the subway and highways, and if you like to spend time outside, there are some gorgeous green spaces nearby, with ravine trails for walking your dog or getting out for a longer hike.
The location is particularly great for couples or roommates where one person works downtown and the other has to get to North York. Plus, the highway is right there and so is the Sheppard subway line. And while the subway ride may be a little longer, it's a lot easier to get on and get a seat at peak times.
Liberty Village
Photo credit: condos.ca
Young, hip and bustling, this west-end ‘hood is the ultimate live/work location. Home to a dynamic mix of businesses, restaurants, shops and residences, it's close to the lake and an easy shot to downtown by streetcar, GO train or car.
Liberty Village is also great if you’re a car owner, since it’s a quick drive to downtown, and the highway is really close by. Price per square foot is cheaper than downtown, there's plenty of green space nearby – and with so many new buildings, there’s a ton of diverse rental supply. It's a popular choice for renters looking to get out of the core but still wanting to be central.
CityPlace
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CityPlace has it all: downtown location, transit access, shopping and dining – and some of the best condo amenities in the city. If you're looking for green space, it’s everywhere, with plenty of parks and easy access to the lake and trails.
The percentage of renters here is high: a lot of units are owned by investors looking to rent them out. There's also a good variety of units, with different sizes and price points to choose from. And there’s so much supply here that you can easily go see a bunch of different units in a single day.
Yonge & Eglinton / Midtown
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Yonge & Eg is popular with renters for one big reason: location. Just 5 stops away from Yonge and Bloor, getting around the city from here is easy. There’s a good variety of condos and apartment buildings, with older and new options, and lots of layouts and price points. Plus it's a super-walkable neighbourhood with amazing shopping and dining options.
The downside is that this is one of the more expensive areas on this list – but that's the trade-off that comes with being so close to the core.
What’s your top pick?
If you’re ready to start looking for a great rental in the city, contact your Property.ca agent today!