Renters who move are paying $450 more a month

If you rent in Brampton or Mississauga and you are thinking about buying, start with this Canada number. Tenants who moved in the two years leading up to 2024 paid $1,740 a month on average, $450 more than tenants who had stayed at least two years. The figures are from Statistics Canada’s Canadian Housing Survey, fourth cycle, as of 2024. They are not a Brampton or Mississauga average.

The Canada number

Tenants who moved paid $1,740 a month. Tenants who had stayed at least two years paid $1,290. That is $450 more a month, or $5,400 more a year.

Forty percent of recent movers spent 30% or more of pre-tax household income on rent. For sitting tenants that share was 32%. About 44.5% of recent movers reported financial difficulty from rent increases, versus 33.5% of sitting tenants. About 45.5% of recent movers were dissatisfied with affordability, versus 24.4% of sitting tenants.

Since 2018, the share reporting financial difficulty from rent increases rose 27.0 percentage points for recent movers and 16.5 points for sitting tenants. I will not invent a GTA rent, a mortgage payment, or a house price. These Canada numbers are a signal, not your exact monthly cost.

Why staying put and moving are different

Sitting tenants and recent movers are not in the same spot. A long stay often keeps rent lower than what a new lease asks. A move often means a new asking rent, and more of the household income goes to housing.

If you rent in Brampton or Mississauga and a lease end or a move is coming, treat the Canada gap as a reason to plan early. Staying put and relocating are different money decisions.

What a renter in Brampton or Mississauga can do next

You do not have to guess in the dark. I can help you look at homes in the GTA that fit how you live and what you can carry. I am a realtor. I do not approve a mortgage. Your lender or mortgage broker runs the numbers on financing.

Start with current listings on my home search. If you are ready to talk through the buy side, use my buyers page. If this would be your first purchase, my first-time home buyer realtor page is built for that step.

Call 647-890-0982, email ashvak.realtor07@gmail.com, or visit the office at 5 Montpelier St Unit 310, Brampton, ON L6Y 6H4, Re/Max Millennium Real Estate.