Where are the only 300 bachelors for rent in the city of Toronto?

Due to its scarcity, renting a studio in Toronto can be like looking for a needle in a haystack. But once you find one, you can savour the \’joy\’ of paying premium rent for it. Every time we tried to find a bachelor, we were forced to broaden our search because they were in high demand and limited in number.

The city of Toronto currently offers 300 studios for rent, making them a cost-effective choice for renters. We primarily focus on the west end of Toronto but also provide data on popular intersections for comparison.

Among the top four intersections featured in this post, Bloor and Dufferin stands out with the lowest average rent of $1,750, due to a high number of basement apartments. On the other hand, downtown listings have the highest average rent at $2,100, primarily due to the high number of condos. Yonge and Eglinton, as well as King and Jameson, are predominantly apartment buildings, with King and Jameson having a slight advantage.

Bloor and Dufferin offers mostly basement apartments

Basement apartments make up over half of the available listings, with main houses and apartment buildings rounding out the remaining options. Listings often emphasize the convenience of living close to a variety of amenities, including shops, cafes, libraries, and parks.

Additionally, the area boasts excellent access to public transportation, including subway and bus routes. We particularly enjoyed this during our time in the neighbourhood, not to mention the proximity to Dufferin Mall and the extensive retail choices along Bloor Street. We would definitely come back.

• Basement apartments: These typically rent for around $1,575 per month. Basements are usually more budget-friendly options and provide a separate living space on the lower level of a house or building. Some include furniture and fully-equipped kitchens, and the ads do not detail extensive application requirements, if there are any. Some may specify the rental duration, especially for short-term sublets.
• Main house: For above-ground options, you can expect to pay an average of $1,600 per month. Rent is usually not negotiable, and these units are only suitable for one person. House rentals in this area typically have multiple units and rent out individual floors, offering more privacy than basement apartments.
• Apartment buildings: A more traditional apartment costs an average of $1,840 per month. Landlords renovate vacated units with modern finishes and upgrade kitchens and bathrooms before leasing them. These buildings usually have laundry facilities, parking options, and ample balconies, even in smaller units. Utilities are usually included in the rent.

Apartment buildings and condos dominate downtown

Most downtown listings, if not all, consist of apartment buildings and condos. The average rent is $2,100, with condos being slightly more expensive. You can find units for below $1,500, but they are usually sublets for a limited time or rooms disguised as bachelor units. Ads highlight the proximity to universities, shopping centres, and entertainment.

Renters looking for an urban lifestyle are attracted to luxury condos. Condo ads are explicit about the financial requirements and some even include the desired tenant’s income. Pet policies are also mentioned, as condos tend to have more restrictions. Some offer free internet access and special services like cleaning. Smart home features, such as thermostats, keyless entry, and security systems, are also available for some units.

In turn, apartment buildings promote large balconies, spacious suites, hardwood floors, and modern appliances. Some ads offer limited-time promotions, such as a month of free rent or gift cards to incentivize prospective tenants to consider the property.

Yonge-Eglinton offers mostly apartment buildings, but condo offerings should grow

The Yonge-Eglinton area in midtown Toronto is experiencing significant growth, with a projected addition of nearly 100,000 new residents by 2051 – equivalent to the population of the city of Pickering.

The listings for rental properties located in or around the Yonge and Eglinton area offer long-term bachelor apartments. The monthly rent falls within a similar range, typically around $1,900 to $2,100, with slight variations and a median of $1,950. The rental agreements are usually for a one-year term.

A small fraction of ads offer condos, while most are for apartment buildings. It is a high-density area province-wide, and high rises will continue to sprout up on its horizon, meaning the number of condo rentals should increase. 

Special offers or savings opportunities make listings stand out and can be an attractive feature for prospective renters. A listing for Orchard View did not require you to pay the last month\’s rent as deposit when signing the lease, which can be a cost-saving benefit for renters.

Another ad mentions potential savings of $3,000 to $3,500 for those who apply. While the exact details of these savings are not specified, it suggests there may be special promotions or discounts available for tenants that sign for periods longer than 12 months.

Residents and commuters in the area have already experienced disruptions due to years of construction, including due to the Eglinton Crosstown LRT work. This likely indicates more construction-related challenges in the coming decades.

King-Jameson embraces affordable lake views

Living near King-Jameson offers a unique blend of affordability and character. The average rent for apartments hovers around $1,900, making it a relatively budget-friendly choice within the Toronto market. Most of the buildings were built before 1980, adding a touch of historic charm. Several of these structures are undergoing renovations, signalling a commitment to improving living conditions. Some buildings offer the convenience of laundry facilities on every floor, wider-than-normal hallways, and spacious kitchens.

King-Jameson is at the heart of South Parkdale, a vibrant neighbourhood full of unique character and diverse attractions. Known for its engaged residents, the area is decorated with colourful street art and murals that capture its artistic spirit. One of its distinct advantages is that you can secure lakefront property at a surprisingly affordable price, defying common expectations of high waterfront living costs. Some listings feature other sought-after amenities such as floor-to-ceiling windows and balconies with views of Lake Ontario and the iconic Prince\’s Gates.

The neighbourhood is primarily renter-occupied and the median income is significantly lower than the citywide average, creating a socioeconomically diverse environment. South Parkdale is notable for its high concentration of Tibetan residents, adding to its multicultural tapestry.

While the community maintains its cultural identity, it is also undergoing gentrification. Luxury condominium construction continues west of Dufferin Street, changing the landscape and demographics of the neighbourhood. The neighbourhood offers a variety of entertainment options, with easy access to the Canadian National Exhibition (CNE) during the summer and regular Medieval Times events for those who feel like wearing a royal crown.

South Parkdale boasts excellent transportation options by car, with easy access to the Gardiner Expressway. On foot, you have quick access to Union Station via the GO Train. The upcoming Ontario Line subway with a revamped Exhibition Station promises to further enhance its accessibility in the future.

Author: torontoapartmentsforrent