Toronto, Canada's largest city and a cosmopolitan hub in North America, is a must-visit destination. It is known for its diverse culture, stunning architecture, and vibrant arts scene. Toronto is often associated with high living costs. But savvy travellers can still experience the best of this incredible city without breaking the bank in 2024.
Getting to Toronto on a Budget
As a budget traveler, inding cheap flights to Toronto is key to keeping your travel costs down. Book your tickets well in advance and be flexible with travel dates to secure the best deals. Consider flying into Toronto Pearson International Airport during the shoulder seasons. These seasons include spring (April to May) and fall (September to November). Airfare tends to be cheaper during these times. On approach, enjoy views of the CN Tower from afar.
Once you arrive, use budget-friendly transportation like the UP Express. This service connects the airport to Toronto Union station in the downtown core. Also consider the Toronto Transit Commission (TTC) buses and subways.
Other helpful tips include the following:
- Check out Booked, a new AI-enhanced travel planning web and progressive web (mobile) app. Booked is just getting established, and flights, budget car rentals, and many other services are in the works. They are essentially your travel guide and booking expert.
- Compare prices on flight aggregators like Skyscanner, Kayak, and Google Flights.
- Sign up for airline newsletters to receive alerts about fare sales and promotions.
- Consider budget airlines such as Swoop, Flair Airlines, and Air Transat.
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Where to Stay in Toronto on a Budget
To save on accommodations, consider staying in budget-friendly neighbourhoods like Kensington Market, Chinatown (downtown core), or The Annex. These areas offer a variety of affordable hotels, hostels, and vacation rentals. They are also within walking distance of popular attractions and public transit.
One highly rated option is The Planet Traveler, a hostel near Kensington Market. This hostel offers private room or dorm-style accommodations, free breakfast, and Wi-Fi. Other budget-friendly choices include the HI Toronto Hostel and the Rex Hotel Jazz & Blues Bar. The latter features live music and affordable rooms in the heart of the entertainment district.
The following table outlines some advantages and disadvantages of each neighbourhood.
| Neighbourhood | Advantages | Disadvantages |
| Kensington Market | Vibrant, bohemian atmosphere, close to downtown, affordable dining options | Can be noisy at night, limited parking |
| Chinatown | Cheap eats and shopping, easy access to public transit, close to attractions like AGO and ROM | Crowded and busy, some areas may feel less safe at night |
| The Annex | Close to University of Toronto, trendy cafes, bars, and shops, residential, leafy streets | Farther from downtown, Pricier than other budget options |
Cheap Eats in Toronto
Toronto's diverse food scene means you can enjoy delicious meals without spending a fortune. Visit the historic St. Lawrence Market, named the world's best food market by National Geographic in 2012. Here, you can sample local specialties and grab cheap eats from over 120 vendors.
Another budget-friendly foodie destination is Kensington Market. You will find an eclectic mix of international cuisine, vintage shops, and casual eateries at this market. Don't miss the tacos at Seven Lives or the Jamaican patties at Golden Patty. Other affordable dining options include the Ramen Isshin for hearty Japanese noodles and Maha's for Egyptian brunch. Also try Uno Mustachio for giant slices of New York-style pizza.
Taste the difference of a remarkable meal
You may also want to try the following:
- Grab a peameal bacon sandwich at Carousel Bakery in St. Lawrence Market.
- Try the affordable and authentic Thai cuisine at Salad King near Ryerson University.
- Indulge in delicious Ethiopian platters at Nazareth in Bloor-Bathurst Village.
James Bok visits five spots in Toronto where you can eat for $10 or less. Also, a helpful hint from the video: If you’re looking for cheap parking, always look for the green “P.”
Free and Low-Cost Things to Do in Toronto
Free walking tours are a great way to learn about Toronto's history and architecture while saving money.
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The best things in life are free. Toronto offers plenty of free and low-cost activities for budget travellers. You can start your tour of popular destinations by exploring Nathan Phillips Square. This central plaza features a seasonal ice rink, art installations, and free events like yoga classes and concerts.
Next, stroll through Graffiti Alley, a colourful stretch of street art in the Fashion District. You can also visit High Park, the city's largest public park with hiking trails, gardens, and a free zoo. Like those offered by Tour Guys and Strawberry Tours, free walking tours are a great way to learn about Toronto's history and architecture while saving money.
Cost-effective favourites
For affordable must-see attractions, visit the Art Gallery of Ontario on Wednesday nights from 6-9 pm when admission is free. Or, the Royal Ontario Museum on the third Tuesday of each month when entry is free.
Casa Loma, a stunning Edwardian castle turned museum, offers discounted tickets during the shoulder seasons. The castle also offers free admission on select holidays. Don't miss the Toronto Island Park, a picturesque escape from the city. The island has beaches, amusement parks, and stunning skyline views, accessible via a cheap ferry ride.
The table below outlines possible discounts available at selected attractions. Please be aware that prices and conditions are subject to change at any time. For the most current promotions, contact the attraction directly.
| Attraction | Regular price (Q2 2024) | Discounted options |
| Art Gallery of Ontario | $30 adult day pass | Free for anyone under the age 25, always free for Indigenous Peoples |
| Royal Ontario Museum | $27.50 or more | Free with CityPASS®, 15% off for GO Transit riders, discounts for certain groups such as Canadian Armed Forces Servicemembers or Veterans |
| Casa Loma | $40 adult ticket, $20 flat rate for parking | Discounted during shoulder seasons |
| Toronto Island Park | $9.11 adult return trip ferry ticket | Occasionally has free sailings available |
Budget-friendly entertainment and nightlife options include free concerts and events at Yonge-Dundas Square. You can attend pay-what-you-can comedy shows at The Social Capital (SoCap). Or, check out affordable improv performances at The Bad Dog Theatre Company.
For unique experiences, attend the free Distillery District Sunday Market or catch a free film screening at the Harbourfront Centre.
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Getting Around Toronto on a Budget
Toronto is a cosmopolitan city with an extensive public transit system run by the Toronto Transit Commission (TTC). Public transportation is the most cost-effective way to navigate the city. Purchase a reloadable PRESTO card for discounted fares on subways, buses, and streetcars. Or, opt for a day pass if you plan on taking multiple trips in a single day.
Bike Share Toronto is another affordable option, with over 6,500 bikes and 625 stations across the city. Of course, walking is always free and a great way to explore Toronto's vibrant neighbourhoods and hidden gems.
Helpful tips include the following:
- Use the TransitApp to plan your trips and get alerts about service disruptions.
- Consider buying a weekly or monthly pass if you're staying longer and plan to use transit frequently.
Best Time to Visit Toronto on a Budget
To save money on accommodations and enjoy fewer crowds, plan your visit during Toronto's shoulder seasons. Shoulder seasons are considered to be spring (April to May) and fall (September to November). While the summer offers warmer weather and popular festivals like Luminato and Caribana, hotel and flight prices are higher.
Look for free events throughout the year, such as the Toronto International Film Festival in September. You can also check out the Nuit Blanche art festival in October and the Cavalcade of Lights in November.
Sample itinerary for a budget-friendly Toronto trip
Here's a 2–3-day itinerary covering cheap eats, free attractions, and affordable accommodations.
Day 1
- Stay at The Only Backpacker’s Inn hostel near Kensington Market.
- Grab breakfast at the hostel or Wanda's Pie in the Sky (everyone loves pie and a good time for breakfast, right?).
- Explore Kensington Market and Chinatown, sampling street food and visiting vintage shops.
- Walk to the Art Gallery of Ontario and visit for free on Wednesday evening.
- Enjoy dinner at Seven Lives (tacos!) or Rasta Pasta.
Day 2
- Take the TTC to St. Lawrence Market for a cheap breakfast and market exploration. You can also check out Maha’s Egyptian Brunch (closed on Wednesdays).
- Walk to Nathan Phillips Square and City Hall, checking out free events or public art.
- Visit the Hockey Hall of Fame using a discounted CityPASS (a Toronto attractions pass).
- Grab a quick lunch at Carousel Bakery.
- Take the ferry to Toronto Island Park for an afternoon of hiking, cycling, and skyline views.
- Return to the city for dinner at Ramen Isshin.
Day 3
- Start the day with a free walking tour of the city, learning about its history and architecture.
- Visit the Royal Ontario Museum using a discounted ticket or free admission day.
- Explore the nearby University of Toronto campus and grab lunch at a food truck.
- Take the TTC to the Distillery District for an afternoon of free art galleries, boutique shops, and the Sunday Variety Market.
- End your trip with dinner and live music at The Rex Hotel Jazz & Blues Bar.
Conclusion
Experiencing Toronto on a budget is possible with careful planning and insider knowledge. And, you can enjoy all these incredible city offerings without overspending. Take advantage of affordable accommodations, cheap eats, free attractions, and budget-friendly transportation.
Whether you're a budget traveller or simply looking to save money on your next adventure, Toronto should be at the top of your list.
So, start planning your 2024 visit to “The Six”—your wallet and sense of wanderlust will thank you!
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