Travel Value Finder
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.
Leslie Nics, TravelValueFinder.com | Last updated: April 2026
Table of Contents
Toronto Budget Hotel Table (Cheap Hotels Under $150)
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.
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 |
Hotel listings powered by Stay22 and Booking.com. We may earn a commission at no extra cost to you. (Prices vary by season and availability).
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
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.
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.” Leslie Nics, TravelValueFinder.com
Finding Cheap Hotels in Toronto Under $150
Visitors searching for cheap hotels in Toronto under $150 can also consider options like The Alexandra Hotel. 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.
FAQs 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.
Affiliate disclosure: TravelValueFinder.com earns a small commission when you book through our partner links. All recommendations reflect genuine editorial judgment. No hotel pays for placement in our guides.
