Verified November 1, 2026. Prices from TRREB’s September 2026 Market Watch and its Q2 2026 Mississauga community report, rents from TRREB’s Q2 2026 Rental Market Report, tax rates from the City of Mississauga and the Region of Peel, and transit facts from Metrolinx and MiWay.
The short answer: Mississauga City Centre is the high-rise district around Square One, Hurontario Street and Burnhamthorpe Road. It is one of the most affordable ways to own in Mississauga. In Q2 2026 TRREB recorded 148 sales in the City Centre community at an average of $498,700 and a median of $485,393, for all home types combined. Across Mississauga, condo apartments averaged $500,192 in September 2026, with a median of $432,500. You get the city’s main bus terminal, GO buses, the library, Celebration Square and Sheridan College within a few blocks. The trade-off is a large supply of similar units, construction that will continue for years, and an LRT that has no published opening date.
Where City Centre is
City Centre is the name TRREB uses for the downtown Mississauga community, centred on Square One Shopping Centre and the Civic Centre at Hurontario Street and Burnhamthorpe Road. Most homes here are condo apartments in towers built over several decades, with new buildings still going up around Square One and along Confederation Parkway and Rathburn Road.
The City’s new Official Plan, Mississauga Official Plan 2051, calls this area the Downtown Core and divides it into eight districts: The Exchange, Civic, Confederation, Rathburn, Cleary Park, Hurontario, Square One and Sussex. Buyers will also see nearby TRREB communities such as Hurontario, Fairview, Creditview and Cooksville, which mix towers with townhouses and houses.
Condo prices in 2026
TRREB publishes condo apartment prices for Mississauga as a whole each month, and community figures for City Centre each quarter. It does not publish a monthly condo-only figure for City Centre, so we show both.
| Home type | Sales | Average price | Median price | Sale to list | Days on market |
|---|---|---|---|---|---|
| Condo apartment, Mississauga | 122 | $500,192 | $432,500 | 96% | 46 |
| Condo townhouse, Mississauga | 61 | $717,408 | $686,000 | 99% | 41 |
| Condo apartment, all TRREB areas | 1,316 | $605,257 | $520,000 | 97% | 42 |
Days on market is TRREB’s listing days on market. The GTA condo apartment average was down 7.7 per cent from September 2025, and the average for the 905 regions outside Toronto was down 12.0 per cent, so prices have been soft across the region.
| Community | Sales | Average price | Median price | Active listings | Sale to list | Days on market |
|---|---|---|---|---|---|---|
| City Centre | 148 | $498,700 | $485,393 | 264 | 97% | 38 |
| Hurontario | 144 | $807,680 | $808,000 | 177 | 99% | 29 |
| Cooksville | 96 | $840,740 | $810,250 | 121 | 97% | 34 |
| Creditview | 31 | $908,306 | $932,000 | 37 | 98% | 28 |
| Fairview | 21 | $917,476 | $650,000 | 48 | 97% | 34 |
These community figures combine every home type sold in the quarter. City Centre’s are close to the Mississauga condo apartment figures because most homes there are condo apartments. The nearby communities include detached, semi-detached and townhouses, which is why their averages are much higher. Treat all of these as a range, not a value for any unit. Size, floor, view, parking and the building itself move prices a lot.
Choice and negotiating room
In September 2026 Mississauga had 831 active condo apartment listings at month end against 122 sales, or about 6.8 listings for every sale. New listings in the month were 382, more than three times the number of sales. Sale prices averaged 96 per cent of the asking price.
For a buyer, that means time to compare and room to negotiate on many units. For a seller, it means pricing matters. Units that look like many others in the same tower compete directly with each other. If you own a downtown unit and want to know where it sits today, start with a free home evaluation.
New towers add to the choice. If you buy a unit that is not yet registered, you may pay interim occupancy fees before the condo closes. Our guide to interim occupancy fees in Ontario explains how they work.
Rents, if you plan to lease it out
TRREB’s Q2 2026 Rental Market Report put the average Mississauga condo apartment rent at $2,189 for a one-bedroom and $2,713 for a two-bedroom, with 1,856 leases in the quarter. Across the GTA the averages were $2,273 and $3,013, down 2.3 and 1.7 per cent from a year earlier. TRREB does not publish rents for City Centre on its own.
Compare the likely rent with your full monthly cost: mortgage, condo fees, property tax and insurance. Short-term rentals are tightly limited. A Mississauga short-term accommodation licence is only for your principal residence, stays are capped at 180 nights a year, condo owners must show the board’s permission, and the licence costs $283 a year. Guests also pay the City’s 6 per cent Municipal Accommodation Tax. Our guide to Airbnb rules covers the details.
Transit today and the Hazel McCallion Line
What runs now
The City Centre Transit Terminal at 200 Rathburn Road West, at the northwest corner of Square One, is MiWay’s main hub. It has heated waiting areas, washrooms and a fares booth, and is served by 17 routes. It is also a stop on the Mississauga Transitway, the bus corridor that runs east toward Renforth near the Toronto border and west toward Winston Churchill Boulevard.
GO Transit’s Square One bus terminal is at 210 Centre View Drive, across Rathburn Road. GO buses from here connect to GO train stations and other regions; check GO’s route list for the current services. From January 1, 2026, an adult MiWay fare is $3.50 on PRESTO and $4.50 in cash, and an adult PRESTO monthly pass is $145. Under the One Fare program, the connecting fare is discounted when you transfer between MiWay, GO, the TTC and other local systems using the same payment method.
We do not publish travel times. Test your own trip at the hours you will travel. We will look at car-free daily life near Square One in a separate guide.
The Hazel McCallion Line
The Hazel McCallion Line is an 18 kilometre light rail line with 19 stops from Port Credit GO to the Brampton Gateway Terminal, along Hurontario Street. Metrolinx says it will connect to the City Centre Transit Terminal at Square One, with a stop at Rathburn Road.
- Testing has started. Light rail vehicles ran test trips from the maintenance yard to Hurontario Street in August 2026.
- No opening date. Metrolinx’s 2026-27 business plan gives no in-service date. In August 2026 its chief executive said he hoped civil work would be finished by roughly summer 2027, with system testing to follow.
- No downtown loop for now. The original plan had a loop through downtown. Metrolinx removed it in 2019 to save costs. In January 2024 the province asked Metrolinx to prepare an initial business plan for it, and Metrolinx lists a Downtown Mississauga Extension under future planning, with no date.
If the LRT matters to you, buy for the transit that runs today and treat the line as a future benefit. Our guide to living near a GO station covers how transit access affects buyers.
Everyday life downtown
The appeal of City Centre is how much is within walking distance of the towers:
- Square One for shopping, groceries and services.
- Mississauga Celebration Square at 300 City Centre Drive, which the City describes as home to hundreds of free festivals, concerts and events. Its fountain becomes an outdoor skating rink in winter.
- Hazel McCallion Central Library at 301 Burnhamthorpe Road West, renovated and reopened in 2024 with a maker studio, gaming room and bookable spaces.
- Living Arts Centre, with a 1,300-seat main auditorium, and the Art Gallery of Mississauga in the Civic Centre.
- Sheridan College’s Hazel McCallion Campus on Duke of York Boulevard, next to Scholars’ Green, a park with chess tables, an outdoor fitness area and a trail along Rathburn Road.
- Kariya Park, a Japanese garden named for Mississauga’s sister city, known for its cherry blossoms in spring.
- Mississauga Valley Community Centre to the east, with a pool, arena, gym and library. The City is in the early design stage of a redevelopment, with design work running to summer 2029 and construction not yet scheduled.
The other side of downtown living is construction. Tower cranes, lane closures and LRT work along Hurontario have been part of the area for years and will continue. Ask what is approved or proposed on the sites next to any building you consider, because a new tower can change your view and light.
What is planned next
The province approved Mississauga Official Plan 2051 on March 24, 2026. It plans for more than 370,000 new homes across the city by 2051, and the Downtown Core is one of the main places that growth is directed. The plan sets a goal of at least 5,000 residents and 5,000 jobs in The Exchange district alone. It builds on the City’s 2010 Downtown21 master plan, which set out to turn the area from a suburban mall district into an urban centre with streets, parks and mixed uses.
The largest single plan is Square One District. In 2020 its owners, Oxford Properties and AIMCo, announced a 130-acre, multi-decade plan for more than 18,000 homes and more than 35,000 residents on the lands around the mall, with over half the homes planned as rentals. Plans like this take decades and can change, but they tell you the area will keep adding towers and supply.
Property tax and closing costs
Mississauga’s 2026 residential tax rate is 1.087901 per cent of assessed value. That combines the City (0.396141 per cent), the Region of Peel (0.538760 per cent) and the provincial education rate (0.153 per cent). Your bill depends on the unit’s MPAC assessment, not on the price you pay.
| MPAC assessment | Annual property tax | Per month |
|---|---|---|
| $350,000 | $3,808 | $317 |
| $400,000 | $4,352 | $363 |
| $450,000 | $4,896 | $408 |
Unlike Toronto, Mississauga has no municipal land transfer tax. Buyers pay only Ontario’s land transfer tax, and eligible first-time buyers can get a provincial refund of up to $4,000.
| Purchase price | Ontario LTT | After the first-time buyer refund |
|---|---|---|
| $432,500 (Sept median, condo apt) | $5,125 | $1,125 |
| $500,192 (Sept average, condo apt) | $6,479 | $2,479 |
| $600,000 | $8,475 | $4,475 |
| $686,000 (Sept median, condo townhouse) | $10,195 | $6,195 |
On the same price, a Mississauga buyer pays about half the total land transfer tax of a Toronto buyer, who pays both the provincial and the municipal tax. Run your own numbers with our land transfer tax calculator.
What to check before you buy
- Condo fees and the reserve fund. Fees are set building by building. Ask for the status certificate and the latest reserve fund study, and compare fees per square foot and what they include. Our guide to condo fees in Ontario shows what to look for.
- Building age. Older towers often have larger units and lower prices per square foot, but may face bigger repairs. Newer towers can start with low fees that rise after the first reserve fund study.
- Parking and locker. Many units sell without parking. If you need a spot, confirm it is owned or deeded with the unit and what it adds to fees.
- Nearby development. Check the City’s development applications for the blocks around the building.
- Rental and pet rules. Read the declaration and rules for leasing, short-term rentals and pets before you firm up.
- Resale competition. Count how many similar units are listed in the same building. That is your competition when you sell.
Our Mississauga real estate guide covers prices and neighbourhoods across the city, and our city guides compare other GTA markets. When you are ready to look at units, we can help you buy a condo downtown.
FAQ
How much does a condo cost in Mississauga City Centre?
In Q2 2026 TRREB recorded 148 sales in the City Centre community at an average of $498,700 and a median of $485,393, for all home types combined. Across Mississauga, condo apartments averaged $500,192 in September 2026, with a median of $432,500.
Is the Hazel McCallion LRT open?
Not yet. Light rail vehicles began test runs in August 2026, but Metrolinx has not published an opening date. Its chief executive said in August 2026 that he hoped civil work would be finished by roughly summer 2027, with system testing to follow.
Do you pay a municipal land transfer tax in Mississauga?
No. Mississauga has no municipal land transfer tax, so buyers pay only Ontario’s land transfer tax. Eligible first-time buyers can get a provincial refund of up to $4,000.
What is the property tax rate in Mississauga for 2026?
The 2026 residential rate is 1.087901 per cent of assessed value, combining the City, the Region of Peel and the education rate. On a $400,000 assessment that is about $4,352 a year.
What do condos rent for in Mississauga?
TRREB’s Q2 2026 report put the average Mississauga condo apartment rent at $2,189 for a one-bedroom and $2,713 for a two-bedroom. TRREB does not publish rents for City Centre on its own.
Can you run an Airbnb in a Mississauga condo?
Only in your principal residence, with a City short-term accommodation licence that costs $283 a year, for up to 180 nights a year, and with proof of the condo board’s permission.
Sources
- Toronto Regional Real Estate Board, Market Watch, September 2026 (Mississauga condo apartment and condo townhouse rows; GTA condo apartment averages and year-over-year change)
- TRREB, Community Housing Market Report, Mississauga, Q2 2026
- TRREB, Rental Market Report, Q2 2026
- City of Mississauga, 2026 final tax rates and Region of Peel, 2026 total tax rates
- Province of Ontario, Land transfer tax refunds for first-time homebuyers (updated February 10, 2026)
- Metrolinx, Hazel McCallion Line, vehicle testing notice (August 6, 2026) and connections at City Centre
- Toronto Sun via Yahoo News, Completion of Mississauga LRT expected in 2027 (August 12, 2026)
- CBC News, Province asks Metrolinx to plan Hurontario LRT downtown loop (January 18, 2024)
- City of Mississauga, City Centre Transit Terminal, MiWay fares from January 1, 2026; Metrolinx, One Fare program; GO Transit, Square One bus terminal
- City of Mississauga, Province approves Mississauga Official Plan 2051 (March 26, 2026) and MOP 2051 Chapter 12, Downtown Core; Downtown Strategy
- Oxford Properties, Square One District announcement (January 21, 2020)
- City of Mississauga, Celebration Square, Central Library renovation, Scholars’ Green Phase 2, Kariya Park, Mississauga Valley Community Centre redevelopment
- City of Mississauga, Short-term accommodation licence and Municipal Accommodation Tax
Images: AI-generated illustrations created for this guide. They do not show real properties.
This guide is general information, not legal, tax or financial advice. Prices are TRREB averages and medians and are not an appraisal of any unit. Transit plans and dates can change; confirm with Metrolinx, MiWay and the City of Mississauga.
Local Toronto, HomeLife Landmark Realty Inc., Brokerage.