If you want to move to a new apartment in Mississauga, you will pay less than last year.
According to Rentals.ca and Bullpen Research & advice National Rent Report For April 2021, Mississauga was fourth in average monthly rent in March for a one-bedroom home at $ 1,750 and eighth in average monthly rent for a two-bedroom home at $ 2,058.
Prices for one-bedroom units are down 0.9% from February 2021, and prices for two-bedroom suites are down 0.2% month-over-month.
Year over year, the average monthly rent for a one-bedroom house in Mississauga was down 9.6% in March and down 8.7% for a two-bedroom house.
Prices are still falling across Canada as of 2020 due to the COVID-19 pandemic, according to the report.
The report says the average asking rent for all Canadian properties listed on Rentals.ca in March was $ 1,685 per month, down $ 157 (or 8.5%) from $ 1,842 in March of l ‘last year.
Since peaking at $ 1,954 in August 2019, the average monthly rental rate has steadily declined, now down $ 269 from peak and $ 29 from February.
That said, the report says there are signs that the rental market is about as low as expected.
Average rent in Vancouver, Toronto and Montreal rose in March from February, the report said, and median rent levels by room type indicate that prices for studios, two-bedroom, three-bedroom and four-bedroom properties have increased. all increased from year to year. . The report says this suggests that outliers had a big impact on averages and the market might look a little different than some data suggests.
The report says tenants who work from home are looking for larger units that can accommodate a home office, which has resulted in more small units being listed for sale on Rentals.ca, lowering the average rent.
The report also states that anecdotal evidence from rental agents suggests rental demand may increase in downtown areas of major Canadian cities, as tenants seek to get to their lowest before rents soar. vaccination rates.
“We saw a clear change in the unit mix on Rentals.ca ahead of COVID and early in 2021,” Matt Danison, CEO of Rentals.ca, said in the report.
“There are fewer large units and single-family homes to rent, and many more small condominiums, as tenants seek larger units to work from home. This change has a significant impact on the data, as the rent per square foot is actually higher in March of this year than in March 2020. “
The National Rent Report presents and analyzes monthly, quarterly and annual rates as well as rental market trends at the national, provincial and municipal levels for all listings on Rentals.ca for 35 cities across Canada.