Mississauga rent increases expected to be among Canada’s highest in 2022

Rent in Mississauga is expected to climb by 7 per cent this year, the second highest rate in the country.

New data from Rentals.ca and Bullpen Research & Consulting shows that average rent in Mississauga is expected to $2,265 by the end of this year, a rate that is second only to Toronto on a national scale for percentage increase.

The numbers show that Mississauga is also ahead of other large urban centres such as Vancouver (6 per cent increase expected), Montreal (5 per cent) and Calgary (4 per cent). The Toronto rate is expected to jump 11 per cent.

Currently in Mississauga monthly rents are averaging $1,815 for a single bedroom unit and $2,204 for two bedrooms.

According to Renta.ca, the cost of rental housing is again gathering attention as media outlets turn their attention away from COVID-19 and on to other matters than affect Canadians.

“The daily pandemic news put the housing crisis in the background for a while,” said Matt Danison , CEO of Rentals.ca Network. “But now as COVID-19 recedes, we are talking again about our lack of supply. This problem will keep rents on the rise in most of Canada for the rest of the year.”

Still, despite the anticipated increased rental costs for Mississauga and other Canadian markets this year, levels will fall below their peaks of late 2019 and early 2020, the data shows.