Most Affordable Neighbourhoods To Rent Office Spaces In The GTA (Greater Toronto Area)

Toronto is known as Canada’s Commerce Capital says Toronto SEO and business expert Tim D. Hodges. As with any big money city it is known for its towering skyscrapers and busy roads. With Toronto being the top city in a G7 country means that Toronto is undoubtedly a global business area. As such, office real estate is a booming here - and there is a high price to pay to be a part of the booming metropolis.

Furthermore, Toronto has the lowest vacancy rate in the Americas. When you eventually find a fitting space, the rents are outrageous that you'd think twice about your balance sheet.

Whatever you do, steer away from renting in Downtown Toronto. Well, unless you can afford the $39.02 per square foot rent (according to Statista Data - 2020 Q3 https://www.statista.com/statistics/802500/asking-rent-per-sf-office-space-toronto-by-submarket/).

Maybe you think you don’t need a lavish office with a private bathroom, but you'd likely still need conference rooms to meet clients to appear professional!

Even smallstart-ups that require only small office spaces and decide to rent conference rooms find the $39.02 per square foot remains steep.

With COVID scaring everyone away from the crowded downtown maybe you can get away with leaving their and move out to some cheaper places that allow for social distancing. Video conferencing has now taken over in person meetings. The need to be in these expensive locations has lost its appeal.

Thankfully Mr Moving (movers Richmond Hill) has done the research of where can you find affordable rents for your office spaces.

Davisville Village

Do not let the "village" deter you. Davisville is a fitting neighborhood in Midtown Toronto for your office space.

Here, you will enjoy a somewhat affordable rent of $23.62 per square foot. That's almost $15 better than in Downtown Toronto.

At least, that excess would cover your morning Starbucks coffee for a few days.

Besides, several Downtown professionals work and live in Davisville. The neighborhood is only 11 minutes from Toronto via Mount Pleasant road.

Say you'd like to take the longest street in the world to work (the Yonge Street), you'd only spend 13 minutes via car from Toronto.

Etobicoke

If you want a blend of affordable rent for home and office, look no further than Etobicoke. According to CMHC (Source: Canada Mortgage and Housing Corporation, 2019https://www03.cmhc-schl.gc.ca/hmip-pimh/en/TableMapChart/Table?TableId=2.2.11&GeographyId=2270&GeographyTypeId=3&DisplayAs=Table&GeograghyName=Toronto), Rexdale-Kipling is the cheapest place to rent a home in Toronto at $968.

Rexdale-kipling is in Etobicoke! Tim D. Hodges says to “remember the higher the rent for your workers the higher the wages they will need to cover the cost of living.”

For office rents, Etobicoke lies in the suburbs of Toronto. As such, you can expect an affordable rate of $16.92 per square foot.

That's even lesser than half of what you'd have paid in Downtown Toronto.

About downtown Toronto, Etobicoke is quite close. With your car, only a travel time of 14minutes separates the two locations via the Gardiner expressway.

Despite being in the suburbs, Etobicoke is a few miles from Toronto Pearson International Airport. In case you have a business trip or need to have important clients drop in!

North York

If you want a neighborhood with convenient transportation means and affordable office rents, North York is where you should go.

Here, it is easy to connect to other parts of Toronto - and even beyond. In essence, your customers would locate you with ease.

About office rent, North York is another neighborhood in the Toronto suburbs. So, you can expect to pay an average of $16.92 per square foot.

Perhaps you'd like to shuffle Toronto and North York often. The two locations are only 19 minutes apart via the Don Valley Parkway expressway.

For a faster commute, you can use the GO train. That will reduce your travel time to about 11 minutes during rush hour.

Scarborough

Like Etobicoke, Scarborough is also a perfect neighborhood for affordable home and office rents. In all of the Toronto suburbs, you will find the most population of immigrants in Scarborough.

Such conditions also suggest that Scarborough is relatively affordable. Thanks to the diverse population of people in the area, you'd enjoy even more fun at work.

Now, let's talk about the office rent.

Like other Toronto Suburbs, Scarborough also features the $16.92 per square foot rate. The chances are that you'll find cheaper offices here. Why?

Scarborough is a bit disconnected from Toronto. So, the trends of pricey office spaces won't trend down here.

Nonetheless, Scarborough is a beautiful location to set up your office. It is only 21 minutes via Don Valley Parkway expressway from the Toronto core.

Vaughan

Vaughan is farthest from Toronto on this list. The travel time can take up to 38minutes via Highway 427.

But if such get you affordable office rent, it's not much work. Or what do you think?

Well, you can use the train and spend only 17 minutes!

Either way, you will like it in Vaughan. The suburban city is fast growing. As such, commercial activities are on the rise.

Such a profile works perfectly for your office needs.

Regarding the rent, Vaughan offices also attract an average of $16.92 per square foot. But work aside, the neighborhood also offers the chance to steam off office pressure.

You should check out Canada's Wonderland and watch how reinvigorated you'll be!

Are there more neighborhoods where you can get affordable office rent?

Yes. However, such neighborhoods exceed a travel time to downtown Toronto of 45minutes.

You don't want to be late for work. Or do you?

Then, you should go with this list to the office to pick out where you are going to move your office to!