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9 Cheap Hotels in Downtown Toronto

When I first visited Toronto, I was surprised by how much this vibrant city had to offer without breaking the bank. If you're planning a trip and looking for budget-friendly hotels in downtown, you're in the right place! I’ve put together a list of 9 cheap hotels that will give you a cozy base to explore everything this amazing city has to offer. Let's dive into these affordable options that won't skimp on comfort or convenience!

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Holiday Inn Express Toronto Downtown by IHG

Holiday Inn Express Toronto Downtown by IHG

Holiday Inn Express Toronto Downtown By IHG

111 Lombard Street | 0.3 mi (0.5km) to Downtown

8.4Very Good
Holiday Inn Express Toronto Downtown by IHG ImageHoliday Inn Express Toronto Downtown by IHG ImageHoliday Inn Express Toronto Downtown by IHG Image

Hampton Inn & Suites By Hilton Toronto Downtown

300 Jarvis Street | 0.5 mi (0.7km) to Downtown

8.5Excellent
Hampton Inn & Suites by Hilton Toronto Downtown ImageHampton Inn & Suites by Hilton Toronto Downtown ImageHampton Inn & Suites by Hilton Toronto Downtown Image

If you're looking for affordable hotels in downtown Toronto, the Hampton Inn & Suites by Hilton is a great pick! This cozy spot not only offers a sleek fitness center to keep you active during your stay, but all rooms come with flat-screen TVs and free WiFi, so you can relax and unwind just the way you like. Plus, you’ll find the vibrant shops and delicious dining options along Yonge Street just a short stroll away.

Enjoy the convenience of modern, non-smoking rooms that are perfect for both leisure and business trips. The hotel's 24-hour business center is available for any last-minute work you need to tackle, and if you're driving, there's secure underground parking too! Just steps away, you'll discover lovely Allan Gardens, so whether you're here for an event or to explore the city, Hampton Inn & Suites makes it easy to enjoy everything Toronto has to offer.

Hotel Victoria

56 Yonge Street | 0.5 mi (0.7km) to Downtown

7.6Good
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If you're in search of a budget-friendly place to stay in downtown Toronto, Hotel Victoria might just be your ticket! This welcoming hotel puts you right in the heart of the action. With free WiFi and just a three-minute stroll to the Hockey Hall of Fame, it's perfect for kickstarting your adventures in this vibrant city.

Each guest room comes with a flat-screen TV and cozy hardwood floors, giving you a comfy spot to relax after a busy day. When morning rolls around, treat yourself to breakfast or lunch at the on-site Over Easy restaurant. Plus, there's handy access to photocopying and laundry services during the week, making it easy to handle any practical needs.

So, whether you're here for work or play, Hotel Victoria offers a convenient and cozy home base in the lively downtown area!

Courtyard By Marriott Toronto Downtown

475 Yonge Street | 0.6 mi (1km) to Downtown

8.2Very Good
Courtyard by Marriott Toronto Downtown ImageCourtyard by Marriott Toronto Downtown ImageCourtyard by Marriott Toronto Downtown Image

Looking for an affordable spot to enjoy the excitement of downtown Toronto? Check out the Courtyard by Marriott Toronto Downtown! With its central location, you'll find yourself just a short walk away from the bustling Eaton Centre and convenient subway access. The hotel offers spacious rooms featuring free WiFi, inviting seating areas, and handy desks, making it a great choice for relaxing or catching up on work.

Feeling hungry? The Bistro has got you covered with tasty snacks, a selection of delicious dishes, and even Starbucks coffee to energize your day. And for those who like to stay active, the hotel boasts a 24-hour gym, plus a business center and cozy lobby library for your convenience. Experience a friendly atmosphere and all the comforts you need while exploring the vibrant heart of Toronto!

The Rex Hotel Jazz & Blues Bar

194 Queen Street West | 0.6 mi (1km) to Downtown

7.4Good
The Rex Hotel Jazz & Blues Bar ImageThe Rex Hotel Jazz & Blues Bar ImageThe Rex Hotel Jazz & Blues Bar Image

Looking for an affordable place to stay in downtown Toronto? The Rex Hotel Jazz & Blues Bar might be your new favorite spot! Located right on vibrant Queen Street West, this hotel is surrounded by cool shops and tasty restaurants. Every night, you can enjoy live jazz and blues music, giving your stay an extra lively vibe.

The rooms here are comfy and come with all the essentials like air conditioning, free WiFi, and a flat-screen TV. Some even feature private bathrooms for added convenience. And don’t miss out on the daily breakfast—grab a coffee, tea, and toast before heading out to explore the city. The on-site Rextaurant is also a great option if you want to grab a bite without going far.

With the nearby Canadian Opera Company just a short walk away, art lovers will feel right at home here. Explore the gorgeous Art Gallery of Ontario or shop at the Toronto Eaton Centre—all these fun spots are less than 10 minutes from your door. Enjoy your downtown adventure at The Rex!

Hotel Ocho

195 Spadina Avenue | 1 mi (1.6km) to Downtown

7.7Good
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If you’re looking for a budget-friendly spot in downtown Toronto, the Hotel Ocho is a fantastic choice! This inviting hotel is housed in a historical 1902 factory building, blending modern industrial style with comfy vibes. With cozy rooms that come with free Wi-Fi and flat-screen TVs, it’s the perfect place to relax after a day of exploring. Plus, you’re just a short walk from the colorful shops and lively atmosphere of Kensington Market.

At Hotel Ocho, you can kick back and enjoy a delicious meal at the restaurant and lounge. If you’re feeling adventurous, why not rent a bike and discover the vibrant area around you? Just a hop, skip, and jump away, you’ll find Chinatown filled with tasty eats and unique shops to explore. Whether you're here for a fun trip or a quick getaway, Hotel Ocho offers a warm and welcoming experience right in the heart of the city!

Town Inn Suites Hotel

620 Church Street | 1 mi (1.6km) to Downtown

7.8Good
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If you're searching for a great budget-friendly hotel in downtown Toronto, Town Inn Furnished Suites is a top pick! These spacious suites come with everything you need to feel at home, featuring fully equipped kitchens. It’s perfect whether you're cooking up a meal or simply enjoying a snack after a busy day. You’ll love the cozy seating area with a sofa where you can kick back and catch your favorite shows on cable TV.

The hotel also features a friendly 24-hour front desk, making it super convenient for any of your needs. Plus, it's just a short stroll away from the charming shops and dining options of Eaton Centre, and not too far from the University of Toronto. If you're looking for a comfortable stay without blowing your budget, Town Inn is the place to be!

The Clarence Park

7 Clarence Square | 1.1 mi (1.8km) to Downtown

7.7Good
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If you’re in the market for a budget-friendly stay in downtown Toronto, check out The Clarence Park! This charming spot has some personality, boasting a lovely terrace where you can unwind after a day of sightseeing. You'll be excited to discover the proximity to popular attractions like the CN Tower and the Toronto Symphony Orchestra, all just a short stroll away. It’s perfect for those who want to soak in the local scene without breaking the bank.

The rooms at The Clarence Park are cozy and come with all the basics, including private bathrooms and a cute city view. Plus, there's a welcoming shared lounge where you can relax and meet fellow travelers. If you’re feeling peckish, the in-house restaurant serves up tasty American dishes and has veggie options. Whether you're starting your day with a hearty breakfast or ending it with delicious dinner, they’ve got you covered!

For a delightful place to rest your head while exploring the heart of Toronto, The Clarence Park surely fits the bill! Enjoy the local charm and all the vibrant energy that downtown has to offer.

Nox Hostel

5 Selby Street | 1.1 mi (1.8km) to Downtown

7.5Good
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If you're on the hunt for budget-friendly accommodations in downtown Toronto, look no further than Nox Hostel! This friendly spot is right in the heart of the city and offers comfy, air-conditioned rooms where you can kick back after a day of exploring. Take advantage of the shared lounge and terrace, perfect for mingling with fellow travelers or simply enjoying some fresh air. Plus, you’ll have access to a handy shared kitchen if you're in the mood to whip up a quick meal!

Nox Hostel is close to great attractions like the Royal Ontario Museum and Ryerson University, so you'll have plenty to see and do nearby. Rooms come complete with fresh linens and towels, making your stay cozy and convenient. Whether you’re a solo traveler or enjoying a group getaway, this spot is a fantastic choice for an affordable and enjoyable stay in the bustling city!

Olga Melnikova's profile

Olga Melnikova

Olga, a hospitality graduate with 10+ years of experience in hotels and travel blogging, has explored Europe extensively and shares expert travel insights.

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Post was updated on April 1, 2025

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