Mississauga has the 4th highest rent price in Canada, Brampton is 8th
Published January 20, 2022 at 6:58 pm
A one-bedroom rental home in Mississauga is not quite as pricey as it was 12 months ago, while Brampton rents are climbing.
Rentals.ca’s and Bullpen Research & Consulting’s latest National Rent Report shows that the neighbouring cities are both in the top 10 amongst 35 major Canadian cities for average monthly rent. Mississauga is fourth, with a one-bedroom rental costing an average of $1,772. Brampton ranks eighth; the average rent for a one-bedroom in the Flower City is now $1,621.
That is less than that national average of $1,789.
When it comes to two-bedroom units, Mississauga is No. 7 nationally at an average rent of $2,140. Brampton is 19th at $1,884.
There is a difference in the cities’ trend lines, though. The report claims Mississauga is experiencing slight month-over-month and year-over-year decreases in one-bedroom rental prices. The monthly decrease was 1.34 per cent, while there was a 2.32 per cent decrease since December 2020.
Conversely, Brampton had a 4.45-per-cent increase in just a month, and a 7.14-per-cent increase across the past 12 months. The former figure goes against the grain of the national trend, and was also the fourth-highest increase among Ontario cities studied in the report.
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Rental prices tend to dip in December, since as the report notes, “prospective tenants are concentrating on the holidays and not looking for apartments.” A 1.5-per-cent decrease reported less month — for all sizes and types of rental homes — was smaller than dips in December 2020 (3.3) and December 2019 (1.5).
Ontario cities/areas that also bucked the trend with month-over-month rent increases last month include Ajax (5.89); London (4.91); Hamilton (4.52); Brantford (3.13); Etobicoke (2.94); Nepean (2.10); York (1.73); North York (1.27); and Ottawa (1.13).
The full report is accessible at rentals.ca.
(Graphic via Rentals.ca)
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