From $2,100 to $6,110, here’s how much rent is in different areas in Mississauga

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Published September 26, 2021 at 4:46 am

While the ongoing COVID-19 pandemic has had little negative impact on Canada’s real estate market–particularly in Mississauga and surrounding towns and cities–it has contributed to a notable (but fluctuating) decrease in rental rates in bigger urban centres. 

Over the past 18 months, Mississauga’s red hot rental market has cooled ever so slightly from its pre-pandemic highs.

According to Rentals.ca’s and Bullpen Research & Consulting’s latest National Rent Report for September 2021, rates for one-bedroom apartments have fallen 7.2 per cent year-over-year to sit at $1,790. On the other hand, rates for two-bedroom units are up just 1.4 per cent to $2,187. 

The market has started to show some month-over-month recovery, with rates for one-bedroom suites climbing 2.1 per cent and two-bedroom unit rates increasing 2.7 per cent. 

But while prices are starting to rise again, tenants might be surprised to see that rates are down in some Mississauga neighbourhoods (think City Centre)–and that rates are far from uniform across the city. 

“Streetsville, Lisgar, Port Credit and East Credit all experienced the highest growth in rental prices since 2020. They have all experienced growth over 10 per cent with Streetsville at 17 per cent and Port Credit at a 60 per cent increase year over year,” says Nikhil Oberoi, a RE/MAX broker. 

“The average rental costs $3,200 a month, which is a 5.48 per cent increase from 2020. It takes an average of 16 days to rent a house out.”

Oberoi says that Mississauga is pricier for tenants than Brampton, but still more affordable than nearby Oakville. 

“When you compare Mississauga to neighbouring cities, Brampton has an average rent of $2,680 a month, and Oakville has an average rent of $3,970 a month.” 

According to Oberoi’s website, it’s a bit cheaper to rent a condo now than it was this time last year.

The data indicate that the average condo costs $2,140 a month to rent–down 3.37 per cent from this time last year. On the other hand, low-rise units are a bit more costly, with detached houses costing tenants about $3,530 a month (up 6.64 per cent from 2020), semi-detached houses costing $2,810 (up 4.61 per cent) and townhouses costing $2,980 (up 6.85 per cent).  


What can renters expect by pay on a neighbourhood-by-neighbourhood basis? 

Applewood – East Mississauga

Average rental rate: $2,960

The average rental price is up 6.20 per cent from 2020

 

Central Erin Mills – North Central Mississauga

Average rental rate: $3,430

The average rental price is up 7.41 per cent from 2020

 

Churchill Meadows – North West Mississauga

Average rental rate: $3,060

The average rental price is up 6.07 per cent from 2020

 

Clarkson – South Mississauga

Average rental rate: $3,660

The average rental price is up 8.67 per cent from 2020

 

City Centre (Square One Condos in Central Mississauga) 

Average rental rate: $2,100

The average rental rate is down 3.2 per cent from 2020

 

Credit View – Central Mississauga

Average rental rate: $2,900

The average rental price is up 1.19 per cent from 2020

 

Cooksville – Central Mississauga

Average rental rate: $2,790

The average rental price is down by 1.41 per cent from 2020

 

East Credit – North Central Mississauga

Average rental rate: $3,180

The average rental price is up 11.34 per cent from 2020

 

Erindale – Central Mississauga

Average rental rate: $3,020

The average rental price is down 4.34 per cent from 2020

 

Erin Mills – West Mississauga

Average rental rate: $3,500

The average rental price is up 8.70 per cent from 2020

 

Fairview – Central Mississauga

Average rental rate: $2,920

The average rental price is up 0.21 per cent from 2020

 

Hurontario – Central Mississauga

Average rental rate: $2,970

The average rental price is up 3.45 per cent from 2020

 

Lakeview – South East Mississauga

Average rental rate: $3,700

The average rental price is up 1.80 per cent from 2020

 

Lorne Park – South Mississauga

Average rental rate: $4,560

The average rental price is up 3.40 per cent from 2020

 

Lisgar – North Central Mississauga

Average rental rate: $3,030

The average rental price is up 10.17 per cent from 2020

 

Meadowvale Village – North Mississauga

Average rental rate: $2900

The average rental price is up 6.97 per cent from 2020

 

Meadowvale – North Mississauga

Average rental rate: $2,860

The average rental price is up 5.89 per cent from 2020

 

Mineola – South Mississauga

Average rental rate: $4,000

The average rental price is down 0.96 per cent from 2020

 

Mississauga Valleys – Central Mississauga

Average rental rate: $2,700

The average rental price is down 11.73 per cent from 2020

 

Port Credit – South Mississauga

Average rental rate: $6,110

The average rental price is up 60.5 per cent from 2020

 

Rathwood – Central Mississauga

Average rental price: $3,050

The average rental price is up 5.69 per cent from 2020

 

Sheridan – South West Mississauga

Average rental price: $3,660

The average rental price is up 1.98 per cent from 2020

 

Streetsville – North Central Mississauga

Average rental rate: $3,330

The average rental price is up 17.16 per cent from 2020

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