Rent still over $2,000 in Mississauga

Apartment hunters in Mississauga may have a hard time finding anything under $2,000 a month in the city, and across most major markets in Canada.

The average asking rent for all residential properties in Canada declined 4.3 per cent year-over-year in June to $2,033, marking the 21st consecutive month of annual rent decreases, according to the latest National Rent Report from Rentals.ca and Urbanation.

However, the pace of decline has eased after larger annual drops of 5.3 per cent in March and 4.7 per cent in April and May, the report stated.

Rents were up 0.2 per cent month-over-month in June, the third consecutive monthly increase since asking rents hit a 35-month low of $2,008 in March. Over the past two years, rents have declined 6.9 per cent, falling to their lowest June level in four years.

“Canada’s rental market continued to show signs of improvement in June, with rents rising for a third straight month and the pace of annual declines easing from earlier in the year,” said Shaun Hildebrand, president at Urbanation. “Toronto’s gradual stabilization could be an early signal that the market is beginning to bottom out this cycle.”

Rents rose month-over-month in four of Canada’s six largest markets in June, led by Ottawa (up 1.3 per cent to $2,149) and Toronto (up 1.2 per cent to $2,537).

The increase marked Toronto’s third consecutive monthly gain since March — a possible early signal that the market’s prolonged run of annual declines, now at 29 months, may be nearing an end, with rents down just 1.9 per cent annually, the rent report stated.

In Mississauga, the average asking rent remained much the same as last month at $2,056 for a one-bedroom apartment in June. This is down 3.6 per cent compared to this time last year, the report found. It is slightly higher than May’s average asking price of $2,052.

A two-bedroom came in at $2,437 in June, 5.6 per cent lower than this time last year, the report noted.

Toronto ($2,213), Burlington ($2,064), Etobicoke ($2,084) and Oakville ($2,170) all have higher rents for a one-bedroom unit than Mississauga.

Average rent by city and unit type — June 2026

Chart: National Rent Report

The lowest rents in the GTA are in Brampton at $1,962 for a one-bedroom, or Ajax at $1,834.

See the full report here.

Lead photo: deborah cortelazzi