Brampton Rent Prices Continue to Fall

Rent prices in Brampton - a popular landing spot for newcomers and international students - fell sharply in December, but affordability remains an issue.

According to the latest rent price report from Rentals.ca and Urbanation, the asking price for a one-bedroom in Brampton in December 2024 was $2,103, down 7.0% from November. That's the largest drop in apartment rental prices in Ontario.

Year over year, rent prices in Brampton for a one-bedroom were down 0.7% from December 2023 from October 2023.

In December, rent for a two-bedroom unit—popular with newcomers —was $2,338 in October. That's down 9.5% from November and 3.0% from December 2023

Like most Canadian cities, Brampton - a longtime landing spot for Indian immigrants only 40 kilometres from Toronto - has become a renters market.

As the Rentals.ca report shows, asking rent across Canada dropped to $2,109 in December, hitting its lowest point in 17 months.

David Aizikov, the author of Rentsync's National Demand Rental Report, describes Canada as "firmly a renters market."

Aizikov attributes this to increased competition among landlords for a shrinking population of renters and the increased importance of affordability among renters. Each month, the number of rentals on the Canadian market also grows.

Rents in Brampton will continue to fall

However, affordability remains a concern, particularly in cities like Brampton, which is located in the Greater Toronto Area.

Housing is the No. 1 monthly living expense for newcomers and international students.

Giacomo Ladas, a spokesperson for Rentals.ca, says, "Asking rents have gone up so exponentially over the past three or four years that rents in Ontario are still 20 to 25% higher than when COVID started."

"The fact that (rents) are going down is a great sign," he said," but they are still so highly inflated that we kind of think that there was nowhere else for them to go but down."

It's expected that rent prices in Brampton, a popular landing spot for Indian immigrants and just 40 kilometres from Toronto, will continue downward in 2025.

The top 10 most expensive rental cities in Canada in December 2024 according to Rentals.ca

Related Story: What To Know About Living in Brampton

According to the new Rentals.ca report, Brampton (the third most populated city in the Great Toronto Area) has the eighth-highest rent prices in Canada, just behind Burlington, Ontario.

Overall, rents in Ontario were down 5% in December from the same time a year earlier.

Brampton is located just 40 kilometres from Toronto

Rents in Brampton remain cheaper than in Toronto. A one-bedroom in Canada's largest city was $2,360 in December. That's $257 more expensive than in Brampton. Vancouver is Canada's No. 1 most expensive rental city, with a one-bedroom rental for $2,512.

Immigrants are the dominant population of Brampton (and adjacent Mississauga). According to Statistics Canada, 52.9% of people in Brampton were born outside Canada.

According to Canada's 2021 census, Brampton has the fifth-largest immigrant population in Canada (and third-largest in Ontario). The Indian population of Brampton is 180,000.

Cost of Living in Brampton

The average monthly cost of living in Brampton, including rent, is approximately $2,899. To live comfortably in Brampton or Mississauga (or anywhere in the Greater Toronto Area), you must earn more than $25 an hour.

The minimum wage in Ontario as of Oct. 1, 2024, is $17.20 per hour, and the student minimum wage is now $16.20 per hour.

According to Brampton real estate broker Laddi Dhillon, "overall, the cost of living in Brampton, Ontario, is relatively high. If compared to other cities in Ontario, however, it is still lower than that of Toronto."

Housing (renting/home buying) expenses are among the highest in Brampton, said Dhillon, adding that transportation, food, and entertainment costs are comparable to those of other Ontario cities.

Budgeting for Brampton's cost of living

Statistics Canada recommends to newcomers and international students that their rent (including household-related expenses such as utilities) should not exceed 35% of their gross household income.

Gross household income means all income you receive before taxes and deductions.

So, for example, if your gross pay as a newcomer is $4,500 a month, you should budget $1,575 a month as your rental housing costs, according to the 35% guideline. At $2,103 a month, rent in Brampton would be considered "unaffordable" under the 35% formula.

"Those looking to move to Brampton should carefully consider their budget and plan accordingly," he said.

Related Story: Best Brampton Neighbourhoods for Renting

Brampton's unemployment rate in October was 8.4%, up from 8.1% in November. In December 2024, the unemployment rate in Ontario was 7.5%, and nationally, it was 6.7%.

Home Prices in Brampton

Brampton is also popular with homebuyers. It has one of the highest homeownership rates (80%) in the Great Toronto Area.

According to WOWA, the average home price in Brampton in December 2024 was $948,170, down by -3.9% compared to December 2023. Also, according to WOWA:

Detached home average price decreased by 4.5% year-over-year to $1.10M.
Semi-detached home average price increased by 2.9% year-over-year to $922k.
Freehold townhouse average price increased by 2.6% year-over-year to $849k.
Condo townhouse average price increased by 5.3% year-over-year to $697k.
Condo apartment average price decreased by 11.3% year-over-year to $499k.

Brampton is the third most populated city in the GTA

Action Plan for Newcomers Settling in Brampton:

Follow and read our monthly Housing Newsletter for Newcomers and International Students.
Research rental housing in Brampton before you arrive.
Look for landlords offering incentives as rental demand slows.
Work with a Brampton settlement agency to make your transition to Canada successful.

*Rent, home prices and employment figures were accurate when this article was published but may change over time.

SOURCES:

Rentals.ca, Rentsync, WOWA, Lvfree Adventures, Statistics Canada

Rentals for Newcomers is powered by Rentsync, a North American market leader for property technology within the multifamily apartment industry. This gives Rentals for Newcomers access to the latest rental technology, tools, insights, and trends.

If you have a question, please email us at rentals@prepareforcanada.com

Steve Tustin is the Editor for Rentals for Newcomers and a contributing editor for Prepare for Canada. He is also the former managing editor of Storeys.com and a former senior editor at the Globe and Mail and the Toronto Star.