Toronto + Ontario in 5 Days on a Budget
Five Days: Add Muskoka Without Wrecking the Budget
Five days is where the trip stops being “Toronto plus a couple of side trips” and starts being a genuine tour of southern Ontario. This version adds a Muskoka day to the Niagara, Hamilton-and-Elora, and Stratford spine, and it’s the first day trip on this list that’s genuinely better with a rental car than without one.
Book these before you go:
- A Spencer Gorge (Hamilton) reservation, mandatory late Sept-early Nov with no walk-ups
- Stratford Festival tickets, Pay-What-You-Can previews go first and the schedule fills early
- Your Toronto hotel for the five nights (check rates on Booking.com) near Union Station
| Day | Focus | Getting there | Approx cost |
|---|---|---|---|
| 1 | Toronto, downtown orientation | On foot / TTC | PRESTO $3.30/ride |
| 2 | Niagara Falls, full day | GO train + WEGO bus | ~$34 round trip |
| 3 | Hamilton’s waterfalls, Elora Gorge | Rental car | $21.50-55.50 tubing |
| 4 | Stratford Festival | VIA Rail or direct bus | $19-80, bus ~$42 |
| 5 | Muskoka, Gravenhurst | Rental car | $12 cruise surcharge |
Where to stay: The Rex Hotel or HI Toronto Hostel for budget, Hotel X Toronto or The Drake Hotel mid-range, Fairmont Royal York if you want a five-night splurge near Union Station, useful given how many early trains this itinerary involves.
Getting around: a PRESTO card for the one full downtown day; everything else runs on GO Transit, VIA Rail, and a rental car for the two days (Hamilton/Elora and Muskoka) that genuinely need one.
Day 1: Toronto, settle in
Get oriented downtown before the trips start; our Toronto city guide covers the CN Tower, St. Lawrence Market, and the neighbourhoods in full if you want to fold a few into today or a spare evening later in the week.
Day 2: Niagara Falls
1.5 to 2 hours each way by car, 2 to 2.5 by GO train (the train-plus-WEGO bundle runs about 34 CAD round trip). A realistic day, transport, attractions (book the boat tour ahead on GetYourGuide), and food, runs 120 to 175 CAD per person. With a car, Niagara-on-the-Lake’s wine country adds about 30 minutes past the falls.
Day 3: Hamilton’s waterfalls and Elora Gorge
Morning at Spencer Gorge Conservation Area in Dundas (about an hour out) for Tews Falls and Websters Falls; they don’t connect by trail, so plan for both. From late September through early November, book the required online reservation ahead of time, 11 CAD per car, 5 CAD per passenger, plus a 10 CAD fee, no walk-ups. From there, roughly 45 minutes on to Elora for the gorge and its mill village; summer tubing runs 21.50 to 55.50 CAD plus a separate gate admission, or just walk the trails outside tubing season.
Day 4: Stratford Festival
VIA Rail (about 2 hours 17 minutes, 19 to 80 CAD) or a direct bus (roughly 42 CAD round trip) both work without a car. The 2026 season runs April 21 through November 1, average ticket around 120 CAD, Pay-What-You-Can previews from 10 CAD if the schedule cooperates. Matinee, dinner in town, evening train or bus home.
Day 5: Muskoka
Gravenhurst is 170 to 190 km out, 2 to 2.75 hours by car; there’s no direct train, so this is a full car day. The RMS Segwun, a real 1887 steamship still running out of the Muskoka Wharf, covers the lakes without needing your own boat; sightseeing cruises run one to two hours, and every fare adds a flat 12 CAD surcharge on top of the ticket price, worth knowing before the final total surprises you. Given the drive, this is genuinely a day that rewards more time than a single afternoon allows, so treat it as a taste of the region rather than the full Muskoka experience.
Worth knowing before you build this week around it: Prince Edward County and Algonquin Park both exist in Ontario’s day-trip lineup, but neither fits comfortably into a five-day, Toronto-based trip; both want their own overnight. Our 6-day and 7-day versions cover them properly.