Rentals in Centre Island, Toronto

St Lawrence-East Bayfront-The Islands

Location & Borough

St Lawrence-East Bayfront-The Islands sits at the southeastern edge of downtown Toronto, stretching from the historic St. Lawrence Market district along the lake to the Toronto Islands ferry docks. This is one of the city's oldest and most storied neighbourhoods, with roots going back to Toronto's founding as York in the late 18th century. It belongs to the City of Toronto proper and sits just east of the Financial District.

Character & Vibe

Few neighbourhoods in the city pack as much contrast into one address. The western portion — Old Town — is dense with heritage brick buildings, weekend market crowds, and the low hum of Distillery District foot traffic. The east bayfront shifts into a newer, condo-heavy skyline with waterfront paths and a more transient, younger demographic. The Islands, accessible by ferry from the foot of Bay Street, add a completely different register: quiet, car-free, and surprisingly residential. Overall the neighbourhood rewards those who want walkable urban energy with genuine waterfront access.

Transit

Transit connectivity is excellent. Eight TTC stations serve the area — including Union Station, King, and Queen — making this one of the most transit-rich addresses in the entire city. There are also 62 bus stops layered throughout. You can reach Bloor-Yonge in under 10 minutes, and Union Station connects to GO Transit for regional travel. Biking along the Martin Goodman Trail along the lake is a practical commuting option.

Landmarks & Amenities

St. Lawrence Market (ranked among the world's best food markets) anchors the neighbourhood culturally. The Distillery District draws visitors year-round with galleries, boutiques, and seasonal events. Corktown Common offers a splash pad and amphitheatre. With 176 dining options, 30 grocers, and 11 healthcare facilities, day-to-day errands are almost entirely walkable. Five post-secondary institutions are within the catchment, making this attractive to graduate students and academic professionals.

Parks & Green Space

Despite being downtown, the neighbourhood claims 25 parks, anchored by Waterfront Park and the Tommy Thompson Park trail network to the east. The Toronto Islands ferry is steps away, putting a vast green and beach escape within a 15-minute round trip. The Martin Goodman Trail runs the full length of the bayfront.

Dining & Nightlife

With 176 restaurants and 19 nightlife venues, this is a genuine foodie neighbourhood. The St. Lawrence Market precinct has wine bars, oyster spots, and brunch restaurants packed into a few blocks. Corktown adds craft breweries and cocktail bars. The Distillery's Christmas Market and summer concerts draw city-wide crowds.

Schools

Four schools serve the area directly, with several more within easy walking distance given the neighbourhood's central location. The proximity to five universities makes it popular with graduate students and academic staff who want walkable campus access.

Rental Market

With 384 active listings, this is a high-volume rental market. Average rent sits at $2,853 and the median is $2,500 — reflecting a mix of heritage walk-ups, newer purpose-built rentals, and premium waterfront condos (which drive the ceiling to $22,000/month). Budget-conscious renters can still find options in the $1,500–$2,200 range in the older building stock east of Parliament Street.

Who It's Best For

Young professionals and remote workers who want walkable downtown living without full King West pricing. History and architecture enthusiasts. Anyone prioritizing transit — 8 stations means car ownership is genuinely optional here.