Mississauga rents and affordable housing

Mississauga has the 4th highest rents across Canada.

The average rent for a one-bedroom apartment is $2,364, according to rentals.ca

This represents a 20% increase in rent compared to last year’s value.

As the rental market heats up alongside increasing mortgage payments, our Mayor, Bonnie Crombie, is pushing the new Lakeview Village development to include 10% affordable housing. The development is a 15-20 year plan, but the Mayor wants to increase the current 5% allotment to 10%.

Currently, one-bedroom sub 500 square foot units are priced at $660,000. A number that seems overwhelming and places an average mortgage around $4k per month.

In a world where the cost of everything is increasing, if you’re feeling the pressure or want to discuss your options, reach out today!