Cheap Event Venues for Rent in Toronto, ON

From low-cost lounges and charming cafes to flexible studios and budget-friendly banquet halls, the city is full of hidden gems that offer style, character, and value. Whether you’re throwing a birthday bash, hosting a team offsite, or celebrating a milestone, it’s easy to find affordable event spaces that suit your style and your wallet.

Where Can I Find Affordable Event Venues in Toronto?

Downtown Core
While iconic and central, downtown venues can get pricey. But if you look just beyond the Financial District, in areas like Church Street or Kensington Market—you’ll find smaller restaurants, bars, and studios offering competitive rates and unique vibes.
Top Pick: Cecil Community Centre, Kensington-Chinatown

West Queen West & Ossington
Toronto’s arts district is perfect for creative events. From minimalist lofts to independent galleries, this area offers cool, Instagram-worthy spaces, often at a fraction of the cost of traditional venues.
Top Pick: Diptych Studio, Entertainment District

North York & Scarborough
These suburban districts are ideal for budget-conscious event planners. Think larger spaces, lower rental fees, and more parking. Check Scarborough Town Centre or Sheppard Ave for flexible venues with solid amenities.
Top Pick: Leng Keng, York University Heights

Leslieville & Riverside
These east-end neighbourhoods offer stylish yet affordable venues, ideal for intimate weddings, family gatherings, or workshops. Carlaw Ave is especially known for its converted studios and warehouse-style venues.
Top Pick: Leaside Studio, Leaside-Bennington

Budget-Friendly Venues in Downtown

Yes, there are plenty of budget-friendly venues in downtown Toronto that offer great value along with flexibility. Here are three standout options:

• Cecil Community Centre Location: Kensington-Chinatown
  This is a true community hall with generous standing capacity (268) and seating for up to 150 guests. At just C$175 per hour, it’s an excellent option for large gatherings on a tight budget. It’s ideal for DIY setups and likely to support BYO catering or decorations.
• Shvrk Studio Kensington Location: Kensington Market
  A classic blank canvas space that’s perfect for intimate events or creative setups. With a capacity for 30 guests and rates starting at C$85 per hour, it offers one of the most affordable and flexible layouts downtown—great for pop-up parties or photo shoots.
• Foy House (The Village location) Location: The Village, Toronto, ON
  Offering small room rentals from C$50 per hour, Foy House is a charming heritage property suitable for intimate gatherings. Its various rooms provide flexible layouts, and the space suits a BYO approach for catering and decor.

Cheap Party Room Rentals In Toronto With Essential Amenities

Yes, many cheap venues in Toronto still offer essential amenities like tables, chairs, Wi-Fi, and flexible layouts. For example:

• Dance Annex Studios - 693 Bloor St West offers a clean, open space for just C$54 per hour, ideal for rehearsals or small parties.
• The Morpheus Clinic for Hypnosis in the Bay Street Corridor provides a quiet setting with seating and AV support from C$85 per hour.
• Media Studio in the Bay Street Corridor includes basic furnishings and is great for workshops or creative sessions at C$100 per hour.

5 Tagvenue Tips for Booking a Cheap Venue in Toronto

1. Be Flexible With Your Date & Time

• Weekdays (Mon–Thurs) are cheaper than weekends.
• Off-season months (January–March) often have lower rates.
• Daytime rentals tend to cost less than evening bookings.

2. Think Outside the Box

• Rent a gallery or community centre instead of a banquet hall.
• Consider restaurant patios, office atriums, or cafes with private rooms.
• Host in an empty studio and transform it with DIY decor.

3. Rent Only What You Need

• Don’t book an entire venue if you only need one room.
• Some venues allow partial rentals—great for keeping costs low while still offering enough space for guests.

4. Choose Venues With BYO Options

• Bring your own food or alcohol to save on in-house catering costs.
• Ask about corkage or clean-up fees up front to avoid surprises.

5. Use Rentals Wisely

• Need tables, chairs, or linens? Rental companies offer flexible packages at great prices—perfect for dry-hire venues (spaces that don’t include furnishings).

Types of Affordable Event Venues in Toronto

Toronto offers a wide range of venue types to suit different event needs. 

Studios and lofts are ideal for workshops, photo shoots, and small parties thanks to their flexible layouts.

Community centres provide budget-friendly options for weddings and local fundraisers.

For birthdays, brunches, or dinners with custom menus, cafes and restaurants are a great choice. If you're planning a large celebration, banquet halls are perfect for big guest lists, cultural events, and corporate parties.

Event spaces in offices work well for seminars, meetings, and team-building activities, while art galleries offer a creative setting for networking events or product launches. Finally, outdoor patios are perfect for summer parties and relaxed get-togethers.

Event planning doesn’t have to break the bank. With a little creativity—and the right tools—you can pull off a stylish, fun, and unforgettable event without stretching your budget. Browse Toronto’s top affordable venues on Tagvenue today, and get ready to bring your vision to life for less.