Which Are the Best Neighborhoods in Mississauga, Canada?
A lovely city located on the shores of Lake Ontario, Mississauga is sometimes overshadowed by neighbouring Toronto. It is, therefore, a surprise to many that it is the 6th largest city in Canada, and the second most populated city in the GTA, with over 700,000 residents in 2021.
Mississauga – Multicultural Paradise
A true example of Canada’s famed multicultural mosaic identity, Mississauga has a dazzling local scene with multi-ethnic cultural activities and holiday celebrations of different communities. The Mississauga Celebration Square, Port Credit, the Art Gallery of Mississauga, and the Square One Mall are popular tourist attractions.
Some of the must-see features in Mississauga are the bustling waterfront on the shores of Lake Ontario, the wonderfully preserved conservation lands along the Credit River, the University Of Toronto Mississauga Campus, and the Carassauga festival of cultures at the Hershey Centre.
Safest City in Canada
Rated Canada’s safest city for several years, Mississauga is a vibrant multicultural city with many smaller neighborhoods. Sometimes called the ‘City of Villages,’ Mississauga’s residents have a big city experience with all the benefits of living in the suburbs. Over 480 parks and woodland areas in Mississauga make it a nature-lovers paradise.
Mississauga is an important economic center with a strong industrial presence in pharmaceuticals, banking, finance, aerospace, electronics, and computers. The city has one of Canada’s best public transportation systems, from the Port of Mississauga to major expressways and railway lines. It also hosts the Toronto Pearson International Airport, Canada’s largest and busiest airport.
The easy access to downtown Toronto has led to many corporations establishing their head office in Mississauga, with a corresponding increase in the population base and economy.
Real Estate in Mississauga
In general, the cost of living in Mississauga is lower than in nearby Toronto. The size of your family, the neighborhood you choose, your lifestyle, etc., directly influence living costs. Rentals and real estate investments in Mississauga are more affordable than in downtown Toronto, though other regular expenses such as groceries or transport may not have an appreciable difference.
Mississauga real estate has more affordable price tags than other cities, including townhouses, condos, semi-detached and detached homes, and high-rise residential buildings. The city’s housing market has shifted away from a seller’s market, though a good real estate agent can give you some selling tips. Like the real estate in GTA, spacious homes in Mississauga have seen a price decline, while affordable properties are seeing annual price gains.
Average Home Prices
The average home price in Mississauga was $950,000 for September 2022, up 5% year-over-year. The table below shows home prices in Mississauga, with market data from WOWA, as of September 2022.
The City of Neighbourhoods
Mississauga has only about 22 neighborhoods, ranging from purely urban to a village-like communities. Green space is abundant, with many parks and walking trails nearby most neighborhoods in Mississauga.
The public transportation network is excellent, and many families find the city a good place to raise kids. The town has excellent schools, such as the Sheridan Park Public School, John Fraser Secondary School, Vista Heights Public School, and Kenollie Public School.
Mississauga is a fantastic place to live with a low crime rate, affordable real estate, diverse demographics, recreation, and other amenities. Smaller families prefer condo apartments, while custom-built detached houses and charming bungalows attract more affluent families. If you are a real estate investor, you must consider which areas have a demand and where you can get the best return on your investment.
Best Neighbourhoods in Mississauga
Let’s take a walk through the most popular neighborhoods – from the least affordable neighborhood to the more modest homes in Mississauga.
Starting life as a resort, Lorne Park ranks among the oldest and most exclusive neighborhoods in Mississauga. Wide lot bungalows on quiet tree-lined streets, luxury homes with fantastic waterfront views, and excellent schools make this a highly desirable neighborhood. The Lakeshore road offers easy access to the GTA, with the Lorne Park library having many families signing up for its myriad arts and music programs.
With many multi-million dollar homes in the neighborhood, the average home price in Lorne Park hovers upwards of the $2 million mark. Despite its prestigious address, you can still buy a quiet neighborhood home in Lorne Park, albeit an expensive one.
Port Credit is a picturesque Mississauga neighborhood on the shores of Lake Ontario, with a small village feel. It earns its place on the best neighborhoods list due to its location on the waterfront, eclectic shops, bars, and restaurants, and Toronto is easily accessible by car.
The famous Port Credit Lighthouse is a popular landmark, and the lively riverfront nightlife is a good option for after-work parties.
A vibrant community, the Port Credit area features detached homes and sleek condo apartments and is in high demand with young families and working professionals. The average home price in Port Credit is about $1 million and upwards.
Central Erin Mills
Erin Mills, so named due to its close proximity to Erindale in Credit River Valley, is a popular neighborhood with many affordable townhouses and detached homes with larger square footage. With several family-friendly amenities, including the Erin Meadows Community Centre & Library and Erin Mills Town Centre, this mature neighborhood also has good connectivity, tree-lined streets, and many outdoor activities within walking distance.
In addition, Central Erin Mills offers luxury properties off Mississauga Road with an average home price between $1-2 million.
Choosing the best neighborhood in Mississauga is difficult; some additional names to round off the list are mentioned below.
City Centre with its many condos and big box stores, Sheridan with its central location, quiet streets, and notable parks including Springbank Meadows Park and Thornlodge Park, and 200-year-old Streetsville with a strong sense of community – these are some examples of an affordable neighborhood based on factors such as cost of living, easy access to urban amenities, and average home price.
There are many options for a desirable house if you are willing to look for one. Do your research thoroughly and engage the services of a reputed real estate brokerage. After all, your dream home in the best neighborhoods in Mississauga is waiting for you!