Rent prices in Mississauga, Brampton increase for fourth consecutive month in August
Published September 14, 2021 at 12:49 pm
Rent prices in Mississauga and Brampton increased slightly during the month of August for one- and two-bedroom apartments, according to the latest report from Rentals.ca’s and Bullpen Research and Consulting
In Mississauga, the average price for a one-bedroom apartment rose 2.1 per cent from July to $1,790—the sixth-most expensive average price among 35 Canadian cities—however, that’s a decrease of 7.1 per cent from August of 2020.
The average price for a two-bedroom apartment in Mississauga rose to 2,187 in August, which is a 2.7 per cent month-over-month increase, and a 1.4 per cent year-over-year increase.
Mississauga was the fifth-most expensive market for two-bedroom rentals, and the six-most expensive for one-bedroom rentals.
In Brampton, prices remained more stable—the price for a one-bedroom apartment for August was $1,576, which was just a 1.2 per cent increase month-over-month, and a 5.5 per cent decrease year-over-year.
The average price for a two-bedroom apartment in Brampton rose to $1,833 in August, an increase of 2.2 per cent month-over-month, but a decrease of 3.5 per cent year-over-year.
Brampton was the 16-most expensive market for one-bedroom rentals, and the 19-most expensive for two-bedroom rentals.
While four of the five most expensive rental markets in the country were in Ontario, the most expensive for both one- and two-bedroom units was Vancouver, B.C.
“The rental market continued its upward trend on a national basis in August as some normalcy returns to the country. With elementary schools opening in September, there was strong rent growth for single-family properties again in August. Toronto and Vancouver are experiencing huge rental demand, especially for higher-end condos,” Ben Myers, president of Bullpen Research and Consulting, said in a news release.Insauga's Editorial Standards and Policies