Top 5 Affordable Neighbourhoods to Rent In Mississauga

With rental prices increasing every year, I'm often asked how to find affordable housing in Mississauga. While areas like Port Credit and City Centre tend to have new condos and are close to transit, there are other appealing neighbourhoods worth exploring. The key is to keep an open mind when you start your search.

Whether you are working with a real estate agent or hitting the pavement on your own using websites like viewit.ca, kijiji, or craigslist, it is crucial to have your rental application package ready before you start looking. The market is moving fast and once you find a place you love, you will not have a lot of time to mull over your decision before someone else agrees to rent it on the spot. The necessary documentation to have on hand? Your credit report (which you can order online on Equifax.ca) and an employment letter, signed on official letterhead. A past landlord reference letter is also always a plus.

5 - Meadowvale

Located off of Highway 401 and Winston Churchill Blvd., Meadowvale Village offers affordable rentals, including basement apartments, condos, townhouses and detached homes. The Meadowvale GO Station is a chief transit hub that connects to both York University and Union Station. Meadowvale Town Centre is a major shopping centre that also provides the second largest transit terminal after Square One. It's a family-friendly community with great schools and parks. It also boasts some of the best bike and walking trails in Mississauga and has two man-made lakes: Aquitaine and Wabukayne.

Tip: Meadowvale offers many condo townhouse complexes built in the 1980s that have more square footage, outdoor swimming pools and playgrounds steps from your front door.

4 - East Credit

The neighbourhood of Mavis and Highway 10, known as East Credit, has seen significant development over the past 20 years due to the growth of Heartland Town Centre. The area provides easy access to major highways, City Centre, schools and community mosques. With a huge selection of restaurants and retail, the area is an affordable alternative to Square One.

Tip: Renters can find both townhomes and detached homes that are less than 20 years old. Although there are fewer rental apartments and condos, there are many affordable basement apartments in the area for under $1,000/month.

3 - Cooksville

The neighbourhood of Cooksville has long been a renter's go-to location for affordable housing in Mississauga, as it offers a variety of rental apartment buildings run by property management companies. In recent times, many detached homes and townhomes near Cawthra Rd and The Queensway have been purchased by investors and renovated to appeal to a wider segment of the rental market, including single professionals and families. Cooksville's GO Station and MiWay transit is good for connecting commuters to Toronto. The area is also known for having the most diverse restaurant and shopping scene that truly gives Mississauga a global flare.

Tip: Cooksville promotes a sense of community, welcoming newcomers to the city and, notably, providing an opportunity for first time renters to get into the rental market.

2 - Churchill Meadows

The youngest community in Mississauga has become one of the fastest growing and offers a vast variety of affordable rentals. Daniels has dominated the construction landscape over the past 10 years, building detached homes, townhomes, condos, and soon-to-be rental buildings in both Churchill Meadows and bordering Erin Mills. With this vast expansion, many brand new schools and strip malls have popped up all over the neighbourhood, making this a very family-friendly location. Many of the larger detached homes were purchased with additional income property in mind. There are many legal (and illegal) affordable basement apartments in the area that you can rent for under $1,000/month.

Tip: If you are looking for a one or two bedroom alternative to a condo, take a look at the new stacked townhomes on the corner of Eglinton and Winston Churchill and Oscar Peterson and Thomas St. These units offer condo-sized accommodation, so you can enjoy a cozy suite without having to deal with elevators or other elements of a high-rise.

1 - Malton

Malton is the most affordable neighbourhood in Mississauga. Located in the northeastern part of the city, close to the airport, Malton borders Brampton and Toronto. Due to its close proximity to industry and many businesses off of Airport Rd, Malton has traditionally attracted commuters and new Canadians. However, with ever increasing home prices throughout Mississauga, the area is seeing a number of affordable rentals both in buildings managed by property management companies as well as new landlord investors. Many older homes in the neighbourhood have been renovated and remodeled to attract first time renters.

Tip: The Malton Community Centre has seen extensive renovation, contributing to the revitalization of the neighbourhood and attracting new Canadian families.

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