Rents fall again in Mississauga and across Canada

Rents in Mississauga and across Canada have decreased, with the average asking rent for residential properties falling to $2,088 in February, a 4.8% annual decline. This marks the fifth consecutive month of rent decreases, attributed to high supply and slowed population growth. Despite the decline, rents remain 5.2% higher than two years ago and 16.9% above pre-pandemic levels. Mississauga's average rent for a one-bedroom apartment is $2,228, down 2.9% from last year. Ontario experienced the largest rent decline at 4.2%.