Rental rates down in Mississauga as city becomes more affordable than other Ontario municipalities [Video]

While rental rates are not low in Mississauga, the average asking rent for one—and two-bedroom properties in the city is down monthly and yearly.

According to the recent National Rent Report from Rentals.ca and Urbanation, the average asking rent for a one-bedroom condo in Mississauga was $2,174 a month in March, down two per cent from February and almost five per cent from March 2024.

Two-bedroom units are also less expensive, coming in at $2,605 a month–down three per cent month-over-month and year-over-year. 

The city is still ranked the 11th most expensive on the list of 35 municipalities, with higher rents reported for other southern Ontario cities such as Toronto ($2,313 for a one-bedroom and $2,929 for a two-bedroom), Vaughan ($2,253 for a one-bedroom and $2,597 for a two-bedroom) and Oakville ($2,251 for a one-bedroom and $3,075 for a two-bedroom).

According to the report, average rents are up month-over-month in Canada, while still …