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MaryJane

Salary Required to Afford Average Mississauga Home

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MaryJane

Interesting read, especially for those already residing or are thinking of settling in Mississauga.

Original post here - https://www.mississauga.com/news-story/9036853-study-shows-salary-required-to-afford-average-home-in-19-mississauga-neighbourhoods/?fbclid=iwar0ileqrtzsktynyi4-tmmgwaqj8mse82-onveprog7qinoqf6zx3ahgpym

Posting date - Nov 18, 2018

The ranking is based on a recent study and report by Zoocasa.

Neighbourhood - Income Required - Average Price of Homes

  1. L5H - Glen Leven, Lorne Park- $208,737- $1,490,831
  2. L5G - Mineola, Port Credit - $169,712 - $1,212,109
  3. L5W - Meadowvale Village - $120,880 - $863,341
  4. L5K - Sheridan Homelands - $119,355 - $852,448
  5. L5J - Birchwood Park, Park Royal, Clarkson - $112,368 - $802,550
  6. L5L - Erin Mills, Western Business Park - $110,814 - $791,447
  7. L5E - Lakeview, Orchard Heights - $109,903 - $784,943
  8. L5V - East Credit - $109,496 - $779,947
  9. L5M - Vista Heights, Streetsville - $106,754 - $762,449
  10. L5C - Erindale, Erindale Woodlands - $102,496 - $723,039
  11. L4W - Matheson, East Rutherford - $101,816 - $727,184
  12. L5N - Meadowvale West, Riverview - $94,961 - $675,941
  13. L4Y - Dixie, Applewood - $90,793 - $648,459
  14. L4X - Burnhamthorpe, Summerville - $87,238 - $623,065
  15. L5R - West Hurontario, Britannia - $83,507 - $596,419
  16. L4T - Malton, Marvin Heights - $77,732 - $555,176
  17. L5A - Mississauga Valley - $76,915 - $549,336
  18. L4Z - West Rutherford, East Hurontario - $72,526 - $517,994
  19. L5B - Fairview, Cooksville - $65,854 - $491,765

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Jules

I think those required incomes are very accurate. There’s a growing barrier to entry for immigrants to buy property because it’s not easy to land jobs that pay enough money. It’s a little easier for a dual income home but if you factor in daycare costs for children then those published required incomes are too low - you need even more. Daycare is very expensive. 

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