Though it often gets overshadowed by its larger neighbour or lumped together with the GTA as a whole, Mississauga is a city all on its own with its own real estate market that has been seeing massive popularity and high demand.
In fact, Mississauga is the seventh-largest city in the country and third in Ontario, after Toronto and Ottawa. In 2021, the city saw around 11,000 and the average price of a home rose to above $1 million.
The city’s popularity should come as no surprise as it enjoys much of the same benefits that draw people towards Toronto and the larger GTA region. For one, the area is well developed with valuable but limited land. The region is a hub for Canadian businesses and attracts thousands for its job opportunities and lifestyle amenities. It’s also centrally located beside Toronto, near the Pearson International Airport and only a few hours from the U.S. border. The region has long been a popular destination for migration within Canada, as well as for incoming immigrants to Canada.
The City of Mississauga is home to over 700,000 residents. Unlike nearby Toronto, Mississauga is about half as densely populated, with a lot more of the area being filled with detached and semi-detached housing as opposed to apartments and condominium towers found in Toronto. Mississauga is also a younger city overall, giving it the benefit of more well-designed roads, neighbourhoods, and infrastructure.
Mississauga itself has seen some benefits from the continuing growth of Toronto. As Toronto becomes increasingly dense and extensive, Mississauga arose as a major residential option for those looking to work in the city but live somewhere a little less crowded. The most popular segment of the market in Mississauga is in the detached homes market, though it also boasts one of the largest condo markets in the GTA outside of Toronto, with many new development opportunities arising all the time.
Like any city of its size, it is not always useful to generalize when it comes to real estate. Rather, it is beneficial for potential investors to understand the different regions of the city, what properties are available in these regions, who should buy in each area, and why. Let’s take a look at the various different areas and neighbourhoods in the City of Mississauga.
The 24 neighbourhoods of Mississauga
Mississauga is located to the west of Toronto, along the shores of Lake Ontario. It stretches out towards the northwest where it is bordered by Brampton. The city comprises about 300 square kilometres of land, divided into 24 different neighbourhoods. Besides these neighbourhoods, there are numerous commercial, business, and industrial districts spread throughout the city that divides up the different residential districts. In the northeast of the city is a large area of land devoted to the airport where residential real estate is all but nonexistent.
A look at the map of Mississauga and the general placement of neighbourhoods can give you some idea about the character and uses of each neighbourhood.
South Mississauga
To the south of the city, you have the areas closest to the shores of Lake Ontario. These areas tend to contain some of the most expensive homes in the city as they offer scenic views of the lake and are a bit farther away from the city centre. For example, the average price in Lorne Park was around $2.4 million in Q4 2021, over $1 million above the city average. Areas like port credit are also popular for tourism and recreation, so they benefit from their unique atmosphere in this way as well. Neighbourhoods in this area include Lorne Park, Port Credit, Mineola, Clarkson and the aptly named Lakeview.
East Mississauga
To the east, you have the areas closest to the city of Toronto. These neighbourhoods that border nearby Etobicoke are popular choices for residents looking to access the City of Toronto easily. They’re also nearby to the airport and highway 401. Neighbourhoods in this area include Applewood, Rathwood, Dixie and the east side of Lakeview. In this area, you can find a good mix of detached homes, townhouses, and apartments – providing diverse options for an investor looking for a developed and popular area.
North Mississauga
On the north side of the city, you have neighbourhoods like Meadowvale, Lisgar, and Malton. These neighbourhoods are close to the 401, the airport, surrounding commercial areas, and the City of Brampton. Due to the high number of non-residential development on the north side, including the large area of land devoted to the airport, there is relatively less residential property than in other areas of the city. In these areas, you will primarily find detached and semi-detached homes, though there are also some condo and apartment options available. This area will likely see some of the newer developments as the city expands into the surrounding rural areas to the north and west.
West Mississauga
The west side of the city is defined by the areas west of the Credit River and borders Oakville along Lake Ontario. There is also large rural land – one of the largest uninterrupted residential tracts in the city. Again, as the area continues to grow, these will likely see a lot of new residential development which can be a benefit for an investor looking for a new build. However, these areas are also farther away from Toronto and other areas of the GTA, making them less appealing to regular commuters and more appealing to families looking for calmer and more open neighbourhoods. Neighbourhoods in this area include Lisgar, Erin Mills, Churchill Meadows, and Sheridan. Detached homes make up by far the largest number of sales in this area. To make life comfortable for the many residents on the west side, there are also many amenities available (mostly in Central Erin Mills) such as multiple schools, the Credit Valley Hospital, and the popular Erin Mills Town Centre for shopping.
Central Mississauga
Within the centre of the city, you will find some of the densest and highly populated parts of the city. Here, residents will have access to the most amenities such as the large Square One Shopping Centre and the Living Arts Centre. These areas are also the home to many condominium developments in the city, offering potential for . Unsurprisingly, most of the condo sales in the city happen here, making detached homes much less common in this district.
Where should I invest?
The question of where you should invest in the city is going to depend a lot on what you are looking for in a property. For detached homes, the residential areas on the west side offer a lot of options like new developments, while the areas on the east side offer a lot more variety in terms of building type. To the south, you will find generally higher prices, though there are also many beautiful homes in this area as a result. If you are looking for condos in Mississauga, your best bet will, undoubtedly, be the areas in the city centre, though options exist broadly across the city. See our article on some of the for a more in-depth look at a few areas.
Corben joined CREW as a relative newcomer to the field of real estate and has since immersed himself and learned from the experts about everything there is to know on the topic. As a writer with CREW, Corben produces informative guides that answer the questions you need to know and reports on real estate and investment news developments across Canada. Corben lives in Guelph, Ontario with his partner and their two cats. Outside of work, he loves to cook, play music, and work on all kinds of creative projects. You can contact Corben at corben@crewmedia.ca or find him on Linkedin at https://www.linkedin.com/in/corbengrant/.
