Top Places to Stay on a Budget in Toronto

Are you looking for top places to stay on a budget in Toronto? Then, we’ve got you covered. This Canadian city is one of the famous travel destinations with a lot more to offer. In 2023 alone, it welcomed nearly 9 million visitors, and before the pandemic, Toronto saw 9.56 million visitors in 2019. Many might be worried that visiting this city might cost them an arm and a leg. However, that’s not the case. This urban metropolis has many cheap accommodations, including reasonably priced hotels, budget-friendly motels, and the cheapest hostels. We have handpicked the best, saving you time from surfing through hundreds of available options.

Also Read:

• Things to Do in Toronto: The Biggest Canadian City
• Top Things to Do in Toronto at Night
• Ultimate Budget Travel Resources Guide

Palmerston Hotel

We begin our list with The Palmerston Hotel. It is among the cheapest hotels located right in the center of Toronto. This 2-star hotel is near many attractions, including the Art Gallery of Ontario, Rogers Center, Toronto City Hall, and CN Tower. It also provides access to shopping destinations like the St. Lawrence Market and Dundas Street West. The nearest Hanlan’s Point Beach is 2.4 km from the hotel’s premises.

Palmerston Hotel offers 37 rooms with all the necessary amenities. Each unit features Wi-Fi, an ensuite bathroom with a shower, toiletries, and bunk beds. Some rooms also have a private kitchenette with a fridge and coffee/tea-making facilities. Guests will enjoy beautiful panoramic city views from their rooms. When booking, they can choose from non-refundable and free cancellation options.

The Clarence Park

Enjoy a good night’s sleep in the smoke-free Clarence Park Hotel. It is conveniently located in Downtown Toronto, less than 1 km from Rogers Center. Guests can reach the iconic CN Tower within ten minutes from the property. They can buy tickets to the observation deck and enjoy beautiful cityscape views there. Likewise, the Toronto Symphony Orchestra and Four Seasons Center for the Performing Arts are nearby.

The Clarence Park is a dog-friendly hostel with private and shared rooms. It offers a 14-bed female dormitory room and a 6-bed room for groups. Each room has a desk, complimentary Wi-Fi, and a private bathroom. Guests will have a delicious contemporary breakfast from 8 to 10 AM every morning. They can also prepare their meals and snacks in the fully equipped kitchen. Other amenities include private parking, lockers, a luggage room, computer access, and laundry facilities.

Toronto Travellers Home

We have another hostel on our list of the cheapest hotels in Toronto. Toronto Travellers Home offers the best facilities at affordable rates. It is conveniently near many attractions, like the Ripley’s Aquarium of Canada, the CN Tower, The Art Gallery of Ontario, and CF Toronto Eaton Center. Guests can check in from 3 PM and check out until 11 AM the next day.

This hostel features single, double, triple, and quadruple rooms. Each room has complimentary Wi-Fi, air conditioning, comfortable bedding, and a work desk. Some units also have a private bathroom, an electric kettle, and a microwave. Furthermore, the hotel offers laundry services and luggage storage. Other amenities include heating, express check-in/check-out, and fax/photocopying facilities.

Samesun Toronto

The iconic Samesun Toronto is in the downtown area, in Kensington Market. This market is one of Toronto’s most eclectic and vibrant neighborhoods. It is also filled with trendy bars and award-winning fusion restaurants, inviting you to have a food tour. Likewise, this property is near many famous landmarks, including the Art Gallery of Ontario, Chinatown, Rogers Center, Queen’s Park, and the University of Toronto.

This hostel offers dormitories and private rooms. All rooms have a balcony, a shared bathroom with a shower and hairdryer, bed linen, air conditioning, and complimentary Wi-Fi. Guests will begin their day with a delicious complimentary breakfast. Afterward, they can spend their whole day visiting the nearby attractions. This property also provides a kitchen where guests can prepare their meals after a day of expedition.

Comfort Inn & Conference Centre Toronto Airport

After hours of flight, anyone would want to freshen up and sleep the jetlag away immediately upon landing. The only issue is that airport-side hotels are often expensive. But not anymore! Introducing Comfort Inn & Conference Centre Toronto Airport, a budget-friendly property a few steps from the Toronto International Airport. It is also near many popular attractions like the CN Tower, the Children’s Own Museum, and the Sysco Canada Corporate Office.

Rest and recharge at the Comfort Inn’s spacious, non-smoking guest rooms. Each unit is decorated with dark wood furniture and equipped with all the basic amenities such as a refrigerator, work desk, coffee maker, seating area, and ironing facilities. Furthermore, the hotel serves a hot continental breakfast every morning. Other amenities include a fitness center, a car rental desk, and a 24-hour business center.

Comfort Home Toronto

We are halfway through our list of the top places to stay on a budget in Toronto, and it’s time for Comfort Home Toronto. This four-bedroom property offers seclusion and privacy for guests. It features a king bedroom on the second floor and three queen bedrooms on the basement, first, and second floors. The first floor has a kitchen, study room, and living room. There are also washrooms on every floor.

The guest house has a seasonal outdoor swimming pool where guests can relax and rejuvenate. They can also access the sun terrace, washing machine, and dryer. Guests have to share the lounge area and kitchen with others. After checking in, they can visit nearby attractions like the Royal Ontario Museum and the Distillery District. The former houses over 6 million objects, while the latter is renowned for its restored historic buildings.

Woodbine Hotel & Suites

Woodbine Hotels and Suites is your destination if you want a property near Pearson International Airport. While its rates are comparable to discount or economy hotels, the experience is on par with that of the city’s best hotels. Moreover, this hotel is conveniently situated on Toronto Highway 27, just 25 kilometers from downtown Toronto. It is also near many attractions, including Humber College, Humber Valley Hospital, and Wet’n’Wild Toronto.

This 3-star hotel features modern guest rooms with premier amenities like down pillows and duvets, complimentary local calls, a microwave, a mini-fridge, a TV, and Posturepedic beds. Guests can access the high-speed wireless Internet throughout the property. They will also enjoy a complimentary continental breakfast every morning. Other amenities include complimentary newspapers in the lobby, a 24-hour front desk service, and business center services.

Crowne Plaza Toronto Airport, an IHG Hotel

Next, Crowne Plaza Toronto Airport is 2 km from Pearson International Airport and offers a complimentary 24-hour shuttle to and from the airport. This property is 24 km from Toronto’s center and near the Toronto Congress Center and the Toronto International Center. It is also within walking distance of several public parks and local attractions.

This IHG Hotel features modern guest rooms with many amenities. Each room has a pillow-top mattress, a work desk, a coffee maker, a 55-inch flat-screen TV, a private bathroom with a walk-in shower or a tub, and a small refrigerator. Likewise, guests can dine at the on-site Cannery Kitchen & Social restaurant and lounge. It serves delicious international cuisine with Halal, vegetarian, vegan, dairy-free, and gluten-free options.

Pan Pacific Toronto

Escape to the Pan Pacific Toronto, a premier Four-Diamond luxury hotel in the suburbs of Toronto. It has held its prestigious CAA/AAA Four-Diamond rating for over four decades. This property is on 15 acres of scenic parkland and features a seasonal outdoor pool. It has many modern facilities, including a 24-hour fitness center, an outdoor tennis court, and a Conserved Don River Ravine Forest Trail. The latter is beautiful throughout the seasons, featuring vibrant blooms in spring, colorful foliage in fall, warm summer sunshine, and tranquil winter snowscapes.

Pan Pacific Toronto features air-conditioned guest rooms and suites with tasteful decor and amenities. After checking in, guests can depart to their rooms or enjoy soothing massage and body treatments at The Pearl Spa. Later, they can enjoy a hearty meal at on-site restaurants. Seasons Restaurant is open for breakfast and dinner, while the 900 Lounge is a chic lobby cocktail lounge serving local craft beers and iconic cocktails.

Booking.com and Agoda

Toronto’s cheapest hotels can cost you as little as $28. Likewise, you will find many good deals below $100. In addition to the abovementioned properties, you will find more exclusive deals on Booking.com and Agoda. The best place to stay in Toronto is downtown. It is the center of everything, has a bustling atmosphere, and is safe. You can even stay or visit here without a car. If you want to spend time partying and exploring entertainment options, downtown is your destination. Additionally, Downtown, Harbourfront, Chinatown, Midtown, West Queen West, and Yorkville are the best neighborhoods for first-timers to stay in.