How Much Does It Cost to Live in Mississauga, Canada?

Mississauga is a medium city located in Canada with a metropolitan area population of 781,057. A couple could live a moderate lifestyle in Mississauga on a budget of $3,518 per month, or $42,214 per year.

Cost of Living in Mississauga, Canada

As noted above, the cost of living in Mississauga, Canada is $3,518 per month for a couple living a moderate lifestyle. This budget consists of $2,060 for housing related costs, $607 for food, and $851 for other costs, all of which will be broken down below.

Housing

  • A one-bedroom apartment in the city center of Mississauga is estimated to cost $1,835
  • Basic utilities including electricity, water, and gas will run about $157
  • High-speed internet averages $68

Food

  • Typical grocery costs of $446 per month include things like bread, eggs, milk, cheese, rice, chicken breast, bottled water, fruits, and vegetables
  • Alcohol including beer and wine for moderate home consumption costs about $91
  • Frequent coffees in a neighborhood café are estimated to be about $70

Other

  • Meals out are estimated to be $441 per month, including 4 meals in mid-range restaurants and 8 in inexpensive restaurants
  • Transportation costs of $263 for public transport passes and occasional taxis
  • Fitness center memberships of $92
  • Cinema tickets of $55 include several outings for international releases

Note that Mississauga, Canada is a somewhat walkable city with a Walk Score of 58/100, which means you may need a car if you are living in the city center and you will probably need to use public transportation frequently.

Amount of Money Needed to Retire in Mississauga, Canada

Many people searching the internet for the cost of living in Mississauga, Canada are doing so to see if and when they can quit their jobs and retire. A popular and easy way to calculate your retirement number is using the 4% Rule.

The 4% Rule estimates that a person(s) could withdraw 4% of their retirement nest egg and never run out of money. Using this calculation, a couple would need an investment portfolio of $1,055,355 to live a moderate lifestyle in Mississauga, Canada.

Annual expenses of $42,214 ÷ 4% = $1,055,355 portfolio needed.

Of course, everyone’s financial situation is different, and the above calculation could change based on any other sources of passive income and social security income.

Summary

Overall, the cost of living in Mississauga, Canada is affordable coming in at $3,518 for a couple living a moderate lifestyle. Those seeking to retire could do so comfortably with a retirement portfolio of $1,055,355.