Posted: 5/23/2020 | May 23rd, 2020
Toronto is Canada’s version of New York City. It’s a diverse, multicultural city with a vibrant nightlife, amazing food scene, and tons of fun things to see and do — no matter what season you visit in.
However, it can also be an expensive city to visit.
Budget hotels are inconveniently located and Airbnb prices rise every year. Fortunately, the city has a few budget-friendly hostels that will help you save money — money you can spend enjoying the city and all it has to offer!
That said, there are a lot of things to consider when selecting a hostel. The top four when picking the best hostel in Toronto are:
- Location – Toronto is huge and it can take some time to get around. Pick a place that is central to the sites and nightlife you want to see. All the hostels listed here are in central locations.
- Price – In Toronto, you really get what you pay for, so if you go with a really cheap one, you’re probably going to get a hostel that is small, cramped, and doesn’t offer great service.
- Amenities – Every hostel in the city offers free Wi-Fi, and most have a free breakfast, but if you want more than that, be sure to do your research to find the hostel that best meets your needs!
- Staff – All the hostels listed here have amazing staff! They are super friendly and knowledgeable. Even if you don’t end up staying at one of the places listed below, be sure to look up reviews to ensure you end up somewhere where the staff is helpful and friendly! They can make or break a hostel!
Price Legend (per night)
- $ = Under $40 CAD
- $$ = $40-50 CAD
- $$$ = Over $50 CAD
1. HI Hostel Toronto
HI Hostels are always some of my favorites to stay at because they really get what we travelers need. HI Toronto is in a convenient central location close to everything you need (nightlife, shopping, restaurants, the CN tower, the waterfront, and more). Free breakfast is included (and is actually pretty decent), there are private safes for every guest, and they host lots of regular events. It’s a fun hostel and very easy to meet people here as there is a bar on-site that regularly hosts live music. The beds are super comfy too so you can a decent sleep (a big plus in my book!).
HI Hostel Toronto at a glance:
- Hosts lots of events
- Easy to meet people
- Great central location
Beds from $45 CAD per night, privates from $133 CAD per night.
2. Two Peas Pod Hostel
This hostel has a lot going for it. On top of hosting events, they also run a store and cafe, providing travelers with a full spectrum of services to ensure their stay is not only fun but convenient. They have a super chill rooftop common area (you can see the CN Tower from it) and they also have a mini movie theater that hosts regular screenings. Their pod beds are super cool and cozy too (much better than your average cheap, squeaky bunk bed) and they have lockers underneath them so you can keep all your possession safe. It’s almost like staying in a clean, modern hotel but with the fun and community of a hostel.
Two Peas Pod Hostel at a glance:
- Hosts lots of events
- Awesome common areas
- Super comfy beds
Beds from $59 CAD per night, privates from $159 CAD per night.
3. The Only Backpacker’s Inn
This is your standard chill backpacker hostel. They have a bar (with over 200 beers), a cafe, lot of common areas (including an outdoor patio), and free breakfast. The staff are super friendly and it’s located near the subway so you can easily get around the city and explore. It’s also one of the cheapest hostels in the city. In short, it’s your laid-back, classic backpacker hostel and a good choice for solo travelers looking to meet people.
The Only Backpacker’s Inn at a glance:
- Lively social atmosphere makes it easy to meet people
- Helpful staff
- Chill outdoor patio
Beds from $37 CAD per night, privates from $95 CAD per night.
4. The Parkdale Hostellerie
This is the most affordable hostel in the city. There’s no free breakfast but the money you save makes up for that. There’s a lot of common space as well as a communal kitchen. It’s not as central as the other hostels but it’s near Vegandale, an up-and-coming vegan area of the city, as well as Echo Beach and Fort York (a national historic site). The ammenities and design aren’t the most mordern, but it’s super cheap and has a welcoming, homey feel to it.
The Parkdale Hostellerie at a glance:
- Super affordable
- Social atmosphere
- Near lots of great restaurants
Beds from $26 CAD per night, privates from $78 CAD per night.
Toronto is a world-class city. The hostels here are especially social and fun, making it easy to meet people and have fun with other travelers. Just make sure you book your stay in advance as there are not many hostels here – and they fill up fast (especially in the busy summer months)!
Book Your Trip to Toronto: Logistical Tips and Tricks
Book Your Flight
Use Skyscanner or Momondo to find a cheap flight. They are my two favorite search engines because they search websites and airlines around the globe so you always know no stone is left unturned. Start with Skyscanner first though because they have the biggest reach!
Book Your Accommodation
You can book your hostel with Hostelworld as they have the biggest inventory and best deals. If you want to stay somewhere other than a hostel, use Booking.com as they consistently return the cheapest rates for guesthouses and cheap hotels. My favorite places to stay are:
Don’t Forget Travel Insurance
Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are:
- World Nomads (for everyone below 70)
- Insure My Trip (for those over 70)
- Medjet (for additional repatriation coverage)
Looking for the Best Companies to Save Money With?
Check out my resource page for the best companies to use when you travel. I list all the ones I use to save money when I’m on the road. They will save you money when you travel too.
Want More Information on Toronto?
Be sure to visit our robust destination guide on Toronto for even more planning tips!