Mississauga has dropped to the eleventh most expensive city in which to rent a residential property.
While still unaffordable for many, the average asking rent for all residential properties in Canada declined 4.7 per cent year-over-year in April to $2,027, marking the 19th consecutive month of annual rent decreases, according to the latest National Rent Report from Rentals.ca and Urbanation.
Average rents were down approximately $100 from a year ago and 7.4 per cent lower than two years earlier, while remaining 1.2 per cent higher than three years ago, the report noted.
“Rents in Canada are basically back to their level from three years ago,” said Shaun Hildebrand, president of Urbanation. “This improvement in affordability should help bring renters into the market who were priced out in recent years.”
The average for a one-bedroom unit in Mississauga was down 4.4 per cent year-over-year to $2,062 in April; this is also down from $2,071 in March.
The average rent for a two-bedroom unit was down 5.4 per cent year-over-year to $2,440.
Burlington overtook Mississauga in April, ranking tenth. In March, Mississauga was in the tenth spot.
Average rent by city and unit type in April 2026
Chart: National Rent Report
At the provincial level, annual apartment rent declines were concentrated in Canada’s largest provinces. British Columbia led with a 5.9 per cent decrease, followed by Ontario (-5.2 per cent) and Alberta (-3.4 per cent).
Meanwhile, apartment rents increased in Nova Scotia (+3.3 per cent), Saskatchewan (+2.2 per cent), Newfoundland and Labrador (+1.6 per cent), and Manitoba (+1.3 per cent). Saskatchewan continued to post the strongest three-year rent growth nationally, with apartment rents increasing 25.9 per cent since April 2023.
See the full report here.
Lead photo: Sehjad Khoja
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