Travel Value Finder
Cheap Hotels in Toronto Under $150 (Best Budget Stays)
Some of the best cheap hotels in Toronto under $150 per night in Toronto include:
- Samesun Toronto Hostel – Affordable and social stay in Kensington Market
- The Alexandra Hotel – Quiet boutique hotel in downtown Toronto
- HI Toronto Hostel – Central location near Chinatown
- The Rex Hotel – Downtown boutique with live jazz bar
- The Strathcona Hotel – Comfortable budget hotel in the Entertainment District
These hotels offer comfortable and affordable accommodation close to Toronto’s main attractions.
If a friend asked me where to stay in Toronto without breaking the bank, I’d say: focus on Downtown Toronto, Kensington Market, or Chinatown. Toronto is one of Canada’s most exciting cities, but hotel prices can rise quickly during peak seasons. Fortunately, there are several budget hotels and hostels under $150 per night that are comfortable, well-located, and walkable to major attractions.
These neighborhoods make it possible to enjoy iconic spots like the CN Tower, Ripley’s Aquarium, and Toronto Waterfront without spending a fortune. Think of this guide as a friend helping you choose a cheap hotel in Toronto without sacrificing location or convenience.
Table of Contents
Toronto’s best cheap hotels under $150 combine walkable attractions, diverse food scenes, and easy public transportation access.
Toronto Budget Hotel Decision Table (Cheap Hotels Under $150)
Choosing a budget hotel in Toronto can be overwhelming with so many options. Use this table to quickly find the right hotel based on travel style, location, and price.
| Travel Preference | Hotel | Neighborhood | Average Price | Distance to CN Tower | Monthly Price Range |
| Cheapest Stay | Samesun Toronto Hostel | Kensington Market | $80–$120 | 20 min walk | Jan: $80–$120, Jul: $120–$150 |
| Quiet Boutique | The Alexandra Hotel | Downtown Toronto | $120–$150 | 15 min walk | Jan: $120–$140, Jul: $140–$150 |
| Cultural/Local Experience | HI Toronto Hostel | Chinatown | $80–$130 | 25 min walk | Jan: $80–$120, Jul: $120–$140 |
| Boutique with Vibe | The Rex Hotel | Downtown Toronto | $130–$150 | 12 min walk | Jan: $130–$140, Jul: $140–$150 |
| Budget with Breakfast | Holiday Inn Express Downtown | Old Town Toronto | $140–$150 | 10 min drive | Jan: $140–$150, Jul: $150–$170 |
| Family-Friendly | Chelsea Hotel Toronto | Downtown Toronto | $140–$150 | 15 min walk | Jan: $140–$150, Jul: $150–$170 |
- Quick Pick for Budget Travelers: The table shows the best Toronto hotels under $150, including location, price, and distance to the CN Tower.
- Plan Your Stay by Month: Monthly price ranges help you choose the cheapest time to visit.
How to Use This Table
- Identify your travel style – e.g., cheapest stay, boutique experience, or family-friendly.
- Check the neighborhood – Kensington Market, Chinatown, or Downtown for walkability.
- Compare monthly prices – avoid peak summer months if your goal is under $150.
- Book early – even budget hotels under $150 can sell out during high season.
Honest destination guides, hotel comparisons, and car rentals to help you travel smarter — at the best value. Hotel listings powered by Booking.com. We may earn a commission at no extra cost to you.
Best Cheap Hotels Under $150
If you’re trying to quickly select a cheap hotel under $150 in Toronto, the table above compares location, price, and traveler reviews. Here’s a quick comparison of the most popular budget-friendly hotels under $150.
| Hotel | Neighborhood | Average Price | Why Travelers Like It |
| Samesun Toronto Hotel | Kensington Market | $80–$120 | Social atmosphere, walking distance to downtown |
| The Alexandra Hotel | Downtown Toronto | $120–$150 | Quiet boutique hotel near attractions |
| HI Toronto Hotel | Chinatown | $80–$130 | Affordable and centrally located |
| The Rex Hotel | Downtown Toronto | $130–$150 | Boutique hotel with live jazz bar |
| The Strathcona Hotel | Entertainment District | $140–$150 | Simple rooms, near CN Tower |
1. Samesun Toronto Hotel
The Samesun Toronto Hotel is perfect for backpackers or travelers on a tight budget. Located near Kensington Market, it’s surrounded by cafes, vintage shops, and vibrant street art. You can also walk to Downtown Toronto in 15–20 minutes.
Highlights
- Very affordable for central Toronto
- Social and friendly atmosphere
- Walking distance to attractions
Typical price: $80–$120 per night
2. The Alexandra Hotel
The Alexandra Hotel is a quiet, boutique-style hotel in Downtown Toronto, ideal for travelers seeking comfort at a low price.
Highlights
- Affordable boutique hotel
- Close to CN Tower and waterfront
- Minimalist and comfortable rooms
Typical price: $120–$150 per night
3. HI Toronto Hostel
The HI Toronto Hostel is located in Chinatown, a great neighborhood for budget travelers who enjoy cultural exploration.
Highlights
- Extremely budget-friendly
- Walking distance to downtown
- Community kitchen and social spaces
Typical price: $80–$130 per night
4. The Rex Hotel
The Rex Hotel is a downtown boutique hotel famous for its live jazz bar. It’s one of the few budget-friendly hotels in Toronto that combines affordable rooms with a unique, local experience.
Highlights
- Boutique hotel with character
- Central downtown location
- Walking distance to CN Tower
Typical price: $130–$150 per night
5. The Strathcona Hotel
The Strathcona Hotel is located in the Entertainment District, a short walk from the CN Tower and Rogers Centre.
Highlights
- Simple and budget-friendly rooms
- Near theaters and nightlife
- Easy access to public transit
Typical price: $140–$150 per night
The lists below highlight Toronto’s best budget hotels and neighborhoods, helping travelers quickly find affordable accommodation near major attractions like the CN Tower and Toronto Waterfront.
Best Cheap Hotels in Toronto
Some of the best cheap hotels in Toronto include:
- The Rex Hotel – Affordable boutique hotel with live jazz bar
- Chelsea Hotel Toronto – Large downtown hotel near Eaton Centre
- Bond Place Hotel – Comfortable rooms near Yonge-Dundas Square
- Holiday Inn Express Downtown Toronto – Modern rooms with free breakfast
- Samesun Toronto Hostel – Budget-friendly stay near Kensington Market
- The Alexandra Hotel – Quiet and affordable boutique hotel
These hotels offer budget-friendly accommodation in central Toronto while staying close to major attractions.
Best Areas in Toronto for Cheap Hotels
Travelers searching for cheap hotels in Toronto often stay in these neighborhoods:
- Downtown Toronto – Wide range of budget and mid-range hotels
- Chinatown – Affordable boutique hotels and hostels
- Kensington Market – Budget-friendly hostels and local atmosphere
- Old Town Toronto – Good value hotels near historic attractions
- Entertainment District – Close to CN Tower and theaters
These neighborhoods offer easy access to Toronto’s main attractions while keeping accommodation costs lower.
Best Cheap Hotels Near CN Tower
If you want to stay close to Toronto’s most famous landmark, these hotels offer good value:
- The Rex Hotel – Affordable downtown boutique stay
- Chelsea Hotel Toronto – Comfortable and centrally located
- Bond Place Hotel – Budget-friendly hotel near transit
- Holiday Inn Express Downtown Toronto – Includes breakfast
- The Alexandra Hotel – Simple and affordable rooms
These hotels are located within walking distance or a short transit ride from the CN Tower.
Cheapest Hotels in Downtown Toronto
For travelers staying in the city center, these are some of the most affordable options:
- The Rex Hotel
- Bond Place Hotel
- Chelsea Hotel Toronto
- Holiday Inn Express Downtown Toronto
- The Alexandra Hotel
These properties provide budget-friendly accommodation in the heart of Toronto.
Best Budget Hotels for First-Time Visitors to Toronto
First-time visitors looking for affordable accommodation often choose:
- Chelsea Hotel Toronto – Central location near major attractions
- Bond Place Hotel – Excellent access to subway and transit
- The Rex Hotel – Unique boutique experience
- Holiday Inn Express Downtown Toronto – Modern rooms and breakfast
- Samesun Toronto Hostel – Cheapest stay for backpackers
These hotels combine good location, comfort, and affordable prices for travelers visiting Toronto for the first time.
Best Budget Hotels in Toronto for Walkability
Travelers who want to explore Toronto on foot should consider:
- The Rex Hotel – Close to waterfront and downtown attractions
- Chelsea Hotel Toronto – Near Eaton Centre and transit
- Bond Place Hotel – Steps from Yonge-Dundas Square
- The Alexandra Hotel – Walkable to downtown districts
- Samesun Toronto Hostel – Located near Kensington Market
These hotels are located in walkable neighborhoods close to restaurants, shopping, and attractions.
Toronto Hotel Prices by Month (Average Rates)
Hotel prices in Toronto fluctuate based on season, holidays, and major events. This table shows typical average nightly rates for budget, mid-range, and luxury hotels throughout the year.
| Month | Budget Hotels (Under $150–$200) | Mid-Range Hotels ($200–$400) | Luxury Hotels ($450+) | Notes / Tips |
| January | $120–$160 | $220–$280 | $450+ | Winter is quiet, good for budget travelers |
| February | $120–$160 | $220–$280 | $450+ | Low season; less crowded, ideal for deals |
| March | $130–$180 | $230–$300 | $470+ | Early spring; rates start to rise slightly |
| April | $130–$180 | $230–$320 | $470+ | Spring break and Easter may increase rates |
| May | $140–$190 | $250–$350 | $500+ | Start of peak tourist season |
| June | $150–$200 | $280–$380 | $520+ | Popular for festivals; book early |
| July | $160–$200 | $300–$400 | $550+ | Peak summer, hotel prices highest |
| August | $160–$200 | $300–$400 | $550+ | High season continues; early booking required |
| September | $140–$190 | $260–$350 | $500+ | Slight drop after summer, still busy |
| October | $130–$180 | $240–$320 | $480+ | Fall is quieter; good for deals |
| November | $120–$170 | $220–$300 | $450+ | Off-season, lower prices and fewer crowds |
| December | $140–$200 | $250–$400 | $500+ | Holiday season increases rates significantly |
The table above shows average hotel prices by month in Toronto, helping travelers find the cheapest time to book budget hotels.
Pro Tips
- Book early for summer or holidays – rates for budget hotels can rise quickly.
- January–March and November are ideal for budget travelers seeking deals under $150.
- Peak summer (June–August) may push budget hotels close to $200, so compare multiple options.
Toronto Hotel Price Comparison (Under $150)
| Category | Average Price |
| Budget hostels | $80–$130 |
| Budget hotels | $120–$150 |
| Mid-range hotels | $200–$350 |
| Luxury hotels | $450+ |
Travelers aiming for cheap hotels under $150 should focus on Kensington Market, Chinatown, and downtown Toronto.
Travel Tips For Finding Cheap Hotels in Toronto
If I were telling a friend how to find cheap hotels under $150 in Toronto:
- Book early, especially for summer and holiday weekends
- Slightly off-center locations often offer better deals
- Kensington Market and Chinatown are great neighborhoods for budget travelers
- Many attractions, including the CN Tower, are walkable from downtown budget hotels
Book early, look slightly outside the CN Tower area for deals, and choose neighborhoods like Kensington Market or Chinatown—you’ll get affordable stays without sacrificing convenience.
Finding Cheap Hotels in Toronto Under $150
Toronto may have a reputation for expensive accommodations, but travelers can still find cheap hotels in Toronto under $150 in well-located areas such as Downtown, Chinatown, and Kensington Market. Budget-friendly properties like The Rex Hotel, Samesun Toronto Hostel, and HI Toronto Hostel make it possible to stay near major attractions without spending a fortune.
Visitors searching for cheap hotels in Toronto under $150 can also consider options like The Alexandra Hotel and other affordable stays in neighborhoods such as Old Town and Downtown Toronto. These budget accommodations offer convenient locations, comfortable rooms, and easy access to the city’s popular sights while helping travelers keep their trip costs low.
Frequently Asked Questions – Cheap Hotels in Toronto Under $150
Q1. Are there hotels in Toronto under $150?
Yes, Toronto has several hotels and hostels under $150 per night, especially in Kensington Market, Chinatown, and Downtown Toronto, including Samesun Toronto Hostel, HI Toronto Hostel, The Alexandra Hotel, and The Rex Hotel.
Q2. Which areas have the cheapest hotels under $150?
The most affordable areas are Kensington Market, Chinatown, Old Town Toronto, and Downtown Toronto, offering budget hostels, boutique hotels, and small chains within walking distance of attractions.
Q3. How much do hotels under $150 in Toronto cost on average?
Hotels under $150 typically range from $80–$150 per night. Hostels are often $80–$120, while boutique hotels usually fall around $120–$150, depending on location and season.
Q4. Can I stay near Downtown Toronto for under $150?
Yes, hotels and hostels in Downtown Toronto, including The Alexandra Hotel, Samesun Toronto Hostel, and HI Toronto Hostel, offer central locations and rates under $150 per night.
Q5. Are hostels a good option for budget travelers in Toronto?
Yes, hostels like Samesun Toronto Hostel and HI Toronto Hostel are ideal for travelers on a tight budget. They offer shared or private rooms, social spaces, and central locations under $150 per night.
Q6. Are hotels under $150 near the CN Tower?
Yes, some budget hotels and hostels near the CN Tower, such as Samesun Toronto Hostel, The Alexandra Hotel, and HI Toronto Hostel, are walkable or a short transit ride to downtown attractions.
Q7. What is the cheapest time to book hotels under $150 in Toronto?
The cheapest months are January to March and November, when tourism is lower. Summer and holiday periods may push budget hotels near $150–$160 per night, so early booking is recommended.
Q8. Do budget hotels under $150 include breakfast?
Some budget hotels under $150 include breakfast, like Holiday Inn Express Downtown Toronto. Hostels may provide shared kitchens instead, helping travelers save on meals.
Q9. Are these budget hotels safe?
Yes, Toronto is generally very safe, and budget hotels in Kensington Market, Chinatown, and Downtown Toronto are suitable for travelers. Standard urban precautions still apply.
Q10. Can I walk to Toronto attractions from hotels under $150?
Yes, many hotels under $150 are within 10–20 minutes walking distance of the CN Tower, Ripley’s Aquarium, Toronto Waterfront, and Yonge-Dundas Square.
Q11. Are budget hotels under $150 suitable for families?
Yes, some budget hotels, including private rooms in hostels or deals at Chelsea Hotel Toronto, can accommodate families while keeping costs below $150.
Q12. How can I find the best deals under $150?
To find the best deals:
Book early, especially in summer or holidays
Compare rates across multiple platforms
Consider hostels or boutique hotels off-center
Use travelvaluefinder.com for real-time deals
Q13. Are there seasonal discounts for hotels under $150?
Yes, off-peak months like January–March and November usually offer discounts. Weekday stays and early bookings also lower rates for budget hotels under $150.
Q14. Which budget hotel offers the best value under $150?
Hotels like The Rex Hotel, The Alexandra Hotel, and Samesun Toronto Hostel provide the best combination of price, location, and amenities under $150.
Q15. Do budget hotels under $150 offer Wi-Fi and other amenities?
Most hotels under $150 provide free Wi-Fi, and some hostels offer shared kitchens, lounges, and laundry facilities, making them ideal for budget travelers.
Pages That Support This Guide
To help with deeper planning for visiting Canada, this page connects to detailed guides such as:
- Where to Stay in Toronto (Best Areas Explained for First-Time Visitors)
- Cheap Hotels in Toronto Under $150 (Best Budget Stays)
- Cheap Hotels Near CN Tower (Best Budget Stays Under $200)
- Where to Stay in Montreal (Best Areas for First-Time Visitors)
- Cheap Hotels in Montreal (Best Budget Stays)
- Where to Stay in Vancouver (Best Areas for First-Time Visitors)
- Cheap Hotels in Vancouver (Best Budget Stays for Travelers)
