Here’s How Rental Prices in Mississauga Compare to Other Cities
Published August 13, 2019 at 12:55 am
Mississauga has been a desirable city for some time and for good reason–it’s vibrant, it’s growing and it’s close to some of the most famous landmarks in all of Canada.
But while the city is a great place to call home, it’s a difficult one to survive in–especially as rental rates climb higher. At a time when demand is outpacing supply (Mississauga boasts a rental inventory rate of just 0.8 per cent), more prospective tenants are finding it difficult to find apartments that suit their budgets.
But Mississauga residents aren’t alone when it comes to pricey rental units.
According to the July national rent report produced by Rentals.ca and Bullpen Research & Consulting, the average monthly rental rate in Canada increased another 1.9 per cent in June after going up 4 per cent in May.
Mississauga came in sixth on the list of 33 cities for priciest average monthly rent for a one-bedroom, and the municipality came in ninth for average monthly rent for a two-bedroom.
The report says that Mississauga was fifth on the list of 16 Ontario cities for priciest average rent for a one-bedroom.
So, how do prices in Mississauga compare to prices in other major cities?
RentSeeker, a website that allows users to search for apartments across Canada, offers prospective tenants a glimpse at real-time price differentials across the country’s major markets.
RentSeeker focuses on several big Canadian cities, including Toronto, Ottawa, Calgary, Montreal, Edmonton, Vancouver, Hamilton and Mississauga, and compares the costs of one, two and three-bedroom units in each.
According to RentSeeker, Mississauga residents can expect to pay $1,587 for a one-bedroom, $1,816 for a two-bedroom and $2,007 for a three-bedroom unit.
Things are–not unexpectedly–worse in Toronto. In TO, a studio costs $1,478, a one-bedroom costs $1,824, a two-bedroom costs $2,164 and a three-bedroom costs $2,313.
The market is a little easier to navigate in Canada’s capital. According to RentSeeker, studio apartments in Ottawa cost $1,067 a month. One-bedroom apartments cost $1,373 and two-bedroom units cost $1,637. Three-bedroom units cost $1,722.
If you move to Calgary, you can catch even more of a break. One-bedroom units cost $1,136 and two-bedroom units cost $1,226.
In Montreal, a studio costs $1,090, while a one-bedroom unit costs $1,227. Two-bedroom units in the most famous city in La Belle Province cost $1,612.
In Edmonton, studio apartments cost $1,044 and one-bedroom units cost $1,176. Two-bedroom units cost $1,338.
Things are quite tough in Vancouver, the city where a one-bedroom unit costs $1,594 and two-bedroom suites cost $2,194.
In nearby Hamilton, renters are able to lock down more affordable units. In Steel Town, studio apartments cost a reasonable $918 and one-bedroom units cost $1,202. A two-bedroom unit costs $1,463 and a three-bedroom suite costs $1,979.
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