3 Days in Toronto on a Budget | Toronto Itinerary

Are you planning a trip to Toronto on a budget? This high-rise city is definitely worth a visit and we’re going to show you how it can be done whilst watching your pennies.

Toronto is the capital of Ontario and the largest city in Canada. The skyscraper city may be busy, but you’ll find man-made beaches, islands and a range of activities to do – especially on a budget. There are plenty of parks to relax in which makes the hustle and bustle seem less crazy.

However, Toronto is one of the most expensive cities in Canada, although that doesn’t mean it’s too expensive to visit! We loved our trip to Toronto and had a strict budget to stick to. Now we want to share all of our tips from our experience!

There are many ways to enjoy the city for free and it’s even possible to see Niagra Falls on your 3 day Toronto itinerary.

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Planning 3 days in Toronto on a Budget

Before we start our 3 day Toronto itinerary, here’s a few helpful tips about visiting the city and how to travel around Toronto on a budget.

• Currency – Canadian Dollar (compare to your own currency here)
• Language – English (French signs)
• Cuisine – Canadian / American / International
• Apps – GoogleMaps, Airbnb, Booking.com, Hostelworld
• Power Voltage – Plugs A & B (120 V)

How to get to Toronto?

There’s a few ways to reach Toronto, here’s what we recommend:

Toronto Pearson International Airport

As Toronto is the largest city in Canada, the Toronto Pearson International Airport is international – and has an amazing transport system to reach the city. Whether you’re already in Canada or if you’re travelling from another country, you will always be able to arrive here easily. 

Megabus

As we were travelling from Montreal to Toronto, we chose the transport option of a bus. The cheapest bus we could find was Megabus. We have always trusted Megabus and used this company multiple times within Europe. Other than a few delays here and there they’ve always been great.

This Megabus cost us around CAD$30 each which is much more affordable than flying from Montreal. It was a 6-hour bus ride in the morning, so we arrived in Toronto early afternoon. It was worth it to visit Toronto on a budget!

Arriving by Vehicle

You can also reach Toronto by car if you’re from Canada or on a great Canadian road trip. Some areas in Toronto have free parking on Sunday and late evenings, otherwise, you may have to pay for parking if it’s not included in your accommodation.

Arriving by Train

It is possible to reach Toronto by train! There is even a train that travels across the length of Canada and it looks extremely beautiful to explore Canada this way.

Where to stay in Toronto on a Budget

Downtown is the best area to stay in Toronto, however it might be out of your budget. Aiming to stay as close to the centre with good transport links will help your money go further.

• Planet Traveler Hostel $ – The highest-rated hostel in Toronto, round the corner from Kensington Market – Find the Hostelworld link here!
• Home in Downtown $$ – Close to Downtown with a full kitchen – Find the Booking.com link here!
• Margie Townhome Suites $$ – In the heart of Toronto, these cosy rooms are an affordable option to stay in Toronto on a budget – Find the Booking.com link here!

We stayed in an Airbnb near Trinity Bellwoods Park, it took about 45 minutes to walk downtown and as we visited in Summer, it was perfect to walk!

Toronto on a budget tip: Stay in hostels or guestrooms with a kitchen! You can cook some of your meals yourself and save some extra money!

How to Spend 3 days in Toronto on a Budget

Toronto is an urban delight and filled with many free activities!

Walking through the city is your best way to be in Toronto on a budget, however, transport is very affordable too. The subway, trams/streetcars and buses can get you where you need to be for a low cost price.

You can browse the downtown area of Toronto for days, there are so many neighbourhoods to see. We love discovering the vibe of the cities we visit by seeing everywhere.

There are SO many parks in Toronto and streets to explore, you are always guaranteed to find something to do if you’re walking around. Here are some of the things you can get up to on your 3 days in Toronto:

Walk right up to the CN Tower

The CN Tower is iconic to Toronto’s skyline and it’s amazing being so close to such a large building! Make your way through the city, and you will be impressed when you reach the bottom.

It’s quite expensive to go up to the top, although the views look amazing! There are activities such as a River Cruise in Toronto with a visit to the CN Tower – however, it may be out of your budget!

Find the Toronto Sign!

Nathan Phillips Square is home to the Toronto 3D Sign. The colour of the sign is white in the day and glows up in the evening. It’s a lovely sight to see!

Distillery District

The Distillery District is a cute cobblestoned neighbourhood filled with restaurants, bars and boutiques. It’s a beautiful area for art and perfect for those who love beer!

If you have some room in your budget, a Distillery District Historic Walking Tour is a great option during your 3 days in Toronto. The tour is actually quite affordable too!

At Christmas time the lights glow around the district, making it feel magical.

St Lawrence Market

St Lawrence Market is another great spot to visit in Toronto and it’s enormous! St Lawrence Market is a year-round indoor farmers market selling many items.

It may be a great option to find a low-priced lunch or snack as you’re in Toronto on a budget.

Yorkville

Unless your accommodation is close to this area, you’ll likely have to walk far or catch a quick bus ride over to this area.

Yorkville is a lovely neighbourhood to walk around, there’s lots of high-end shopping though, so prepare to be a little fancy. It’s worth visiting to see the different communities that live in Toronto. Plus it’s free! Other than the transport.

Yonge-Dundas Square

You’ve seen pictures of Times Square, now it’s Toronto’s time to shine! At Yonge-Dundas Square you will realise how big Toronto really is.

Yonge-Dundas Square is where a lot of Toronto’s big events happen. Yonge is the most famous street in the city and it’ll also be the busiest! Take a walk around before popping into one of the malls to window shop.

The Eaton Centre Mall

Malls are always free to visit in every city and you can browse for hours at all the shops, even if you’re not interested in buying anything. The Eaton Centre is hard to miss located in the heart of Downtown with a lot of shops and eateries.

Old Toronto

Old Toronto is an iconic neighbourhood to visit, you will notice the history of the city on the buildings. Head to Tim Hortons Brookfield Place to find Toronto’s Hockey Hall of Fame!

Chinatown

Toronto’s Chinatown is an amazing neighbourhood to explore. You almost feel like you’re in Asia! You’ll find a variety of Chinese, Vietnamese, Japanese and Thai restaurants that offer incredible food.

Toronto is a very diverse city so you’ll find food from all over the world!

Kensington Market

Kensington Market is a trendy area to visit and home to one of the most famous markets in Toronto. There are a lot of food options and it might be tempting to go on a Neighborhood International Food Tour!

It’s a great place to walk around and have lunch This market is more of a large area of shops rather than a concentrated market.

Graffiti Alley

Graffiti Alley can be found near Alexandra Park and Chinatown. It’s the only place in Toronto where graffiti is legal. 

You’ll find some beautifully created graffiti within the colourful alley. It can get quite busy during the day, but it’s free to visit.

Spot Squirrels in the Parks

A great way to chill after a busy day is to find one of Toronto’s many parks and relax. Have you ever seen black squirrels before? We love them! They are everywhere in Toronto.

Toronto Island

Did you know Toronto has an island? You can get to Toronto Island for a small price on the ferry! If the sun is shining, it’s worth hopping on a ferry over to the island to enjoy its many beaches! Head to the harbourfront to buy your ticket and have a great day.

Also check out this Harbor and Islands Sightseeing Cruise, the prices are quite affordable and it takes you around the island!

Niagara Falls

A visit to the famous Niagara Falls can be done if you’re in Toronto on a budget. It’s probably one of those waterfalls you’ve heard about many times! It’s so famous and it’s actually free to enter!

A short journey outside of Toronto and extremely close to the border of the US is a city named Niagara Falls.

The impressive waterfalls are the absolute highlight of the city. However, Niagra Falls city itself is quite a touristy area near the falls and although you don’t need to spend anything in the city, it may feel like you want to.

How to get to Niagara Falls?

After a lot of research, we worked out that the most cost-effective way for two people to get to Niagara Falls was using Megabus. There are a few pickup locations within Toronto city and the journey takes around 2 hours each way. It’s a great day trip to explore that little bit extra of Ontario.

It costs around CAD$40 per person for a return trip, which we don’t think is too bad for the distance.

Have a browse in the crazy touristic world of Niagara Falls, then head back to Toronto on your pre-booked Mega bus. We recommend up to 6 hours here and the mega bus drop-off zone is walkable. Although we did notice a lot of people getting taxis.

If you’re not much of a planner, there are multiple Niagara Falls Day Trips from Toronto and you’ll have your transport sorted! Check out Viator for the best deals.

What to eat in Toronto on a budget?

If you want to be in Toronto on a budget, you will need to find accommodation that has a kitchen you can use. Grocery Stores will be great for your bank and we always do this to save money when travelling.

As you’re spending 3 days in Toronto, you’ll likely want to eat at a restaurant or market at least once. Here are some suggestions:

Warehouse $-$$ – Warehouse restaurants are hip, trendy and perfect for being in Toronto on a budget. Their meals are very affordable and there are 3 restaurants in the city!

Juicy Dumpling $ – Hidden in one of Chinatown’s malls is a Shanghai Dumpling to-go counter, you can grab a selection of dumplings for under $10!

The Hogtown Vegan $$ – one of the best vegan spots in town (we had to check it out)

Markets & More – At Kensington Market, there will be opportunities to find all types of food, the price range will vary but it’s a great place to share food with a friend. St Lawrence Market will have lots of fresh food to try, including fruit and convenient to-go snacks.

Summer vs Winter in Toronto

You probably already have an idea of a time you’d like to visit this amazing city. When thinking of the cheapest time of year to travel to Toronto, the off-peak seasons such as Spring and Fall may provide you with the best-priced accommodation.

Winter in Canada is a beautiful time of year, but it can get so cold!

Toronto is on the east of Canada and can reach -22°C on some of the winter days. If you’re travelling in winter, definitely be prepared for a colder climate and wrap up warm!

Once the snow has melted, Toronto becomes super hot! Summer is the peak season for travel in Canada and even locals want to see their own country.

In the summer months, Toronto is full of festivals, beautiful green parks and man-made beaches. As we’re talking about budget, it’s important to note summer prices will be higher than other seasons.

Fall and Spring are the perfect seasons to visit Toronto on a budget and you can still have great weather. Even September starts to have lower costs for accommodation and summer is still in the air.

3 days is a great amount of time to spend in Toronto, especially if you’re on a budget. We recommend spending two days in the Toronto area and then taking 1 day to either see Toronto Island or Niagara Falls.

With 2 days in the city, you can explore a lot of neighbourhoods and check out the downtown area. Make sure to prepare most of your lunch and dinners at your accommodation and your wallet will thank you!

Tours to book in advance in Toronto

• Niagara Falls Day Tour from Toronto
• Niagara Falls Day Tour With Boat and Helicopter
• See Toronto from above on a City Sightseeing Helicopter Tour
• Dive into Toronto’s rich history with a visit to Casa Loma – get your tickets here!
• Although Toronto is walkable, a Hop-On Hop-Off Sightseeing Bus may be an option if you’re a family!

Browse more Canada blog posts:

• The Best 10 Day Ontario Road Trip Itinerary (2024)
• The Best 3-Month Road Trip in Canada Itinerary
• Top 25 Best Things to do in Vancouver, Canada
• The Best 3 Days on the Sunshine Coast
• The 12 Best Easy Hikes in Vancouver, Canada
• All Canada posts!

We hope that this article was helpful for you and that it can guide you through your trip to Toronto – Find us on Instagram (@thesunrisedreamers)!

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