Renters in Mississauga are paying less than they were a year ago, but the city remains one of the most expensive places to rent in the country, according to the latest National Rent Report from Rentals.ca and Urbanation.

The report, covering December 2025, put the average asking rent for all types of rental homes in Mississauga at $2,436. That ranks the city eighth among Canadian markets.

Mississauga by the numbers

  • Average asking rent, all units: $2,436

  • One-bedroom: $2,038, down 1.9 per cent from November and 9.9 per cent from December 2024

  • Two-bedroom: $2,467, down 1.4 per cent from November and 8.3 per cent from a year earlier

  • National ranking: eighth most expensive

Mississauga's rents sit below those in Oakville, Toronto and North York, but above Etobicoke, Brampton and Burlington, the report found.

A national slide

The local declines mirror a broader trend. Across Canada, the average asking rent fell 2.3 per cent year over year in December to $2,060, the 15th straight month of annual decreases. Rents have now dropped to their lowest level in 30 months and are 5.4 per cent lower than two years ago, although they remain 14.1 per cent above where they were in December 2019, before the pandemic.

Among the country's six largest markets, Toronto saw one of the steepest declines, with rents down 5.1 per cent from a year earlier to $2,498.

Shaun Hildebrand, president of Urbanation, said the forces that pushed rents up between 2022 and 2024 reversed in 2025, pointing to a record number of new apartment completions, slower population growth, economic uncertainty and affordability pressures.

Looking ahead, rents are likely to continue trending down in the near-term as these conditions persist.

— Shaun Hildebrand, president, Urbanation

What it means locally

The figures are asking rents for units listed as available, not what existing tenants already pay.

The need for more rental supply also came up at city hall this week. Speaking to the city's Budget Committee on Jan. 12, CIBC Capital Markets senior economist Andrew Grantham said more purpose-built rental units will be important for a healthy housing market.