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Cost of Living: Oakville Vs Mississauga (Ontario, Canada)

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Notable cost of living differences exist between Oakville and Mississauga in Ontario, Canada. The relocation forum at beyond.ca indicates that both locations are wonderful places to live but Mississauga offers an easier commute into downtown Toronto. Economic and retail reports list higher-than-average household incomes in Oakville that translate to pricier meals and leisure activities. Increased demand continues to drive up prices on Mississauga housing units while Oakville real estate remains relatively affordable.

Background

The cities of Mississauga and Oakville are suburbs on the outskirts of Southern Ontario. Jeff O’Leary, a local Oakville real estate agent, feels each city offers residents a distinct type of lifestyle. Europeans arrived in Mississauga during the early 1600s and purchased the land from local natives. Railway expansion helped the city emerge as an industry powerhouse. Citibank Canada, Hewlett Packard and Target Canada are a few of the companies with headquarters currently located in Mississauga.

Oakville formed around Dundas Street, an area originally scouted for military use. Close proximity to waterways made the city a shipbuilding center. Despite hosting various oil refineries and automotive plants, Oakville emerged as a family-friendly city with many cultural and educational attractions.

Demographics

Mississauga and Oakville are ahead of the curve when compared to the rest of Canada. Information provided by the Mississauga Economic Development Office found that approximately 31 percent of local residents obtained a University level education. In 2000, the city boasted the highest number of post-secondary graduates, besting other highly populated areas including Toronto. During that same period, the average household income in Mississauga was approximately $80,442 Canadian dollars (CAD) and $58,360 CAD throughout the rest of Canada.

A 2001 retail and commercial service review created for Oakville describes local incomes as 157 percent above average Canadian levels. Residents reported annual wages of approximately $105,150 CAD. Similar to neighboring Mississauga, many living in Oakville have post-secondary degrees. City-Data.Com found that approximately 33 percent of local residents successfully completed University.

Cost of Living Differences

Merriam-Webster defines the cost of living as costs associated with maintaining a particular standard of living formulated by calculating the average price of multiple goods and services. Differences associated with residing in different areas occur due to a variety of factors.

  • Location plays a factor in higher living costs. People flock to desirable areas, creating a demand for housing, goods and services. As a result, suppliers increase their prices.
  • Increased disposable income raises the average cost of living in a particular area. Residents with extra funds create a thriving local market for luxury goods.
  • Cost of living differences occur as income levels for a particular area start to exceed local averages.

Price Comparisons

Numbeo.com offers pricing data for Mississauga and Oakville. Individuals interested in relocating should note the following:

  • Shopping in local supermarkets is hit or miss depending on the item. Boneless chicken breasts in Mississauga are $8 CAD, almost three dollars cheaper than Oakville prices.
  • Domestic and imported beers are $2 cheaper in Mississauga. Local merchants also charge $10 CAD for a pack of Marlboro cigarettes. The same pack costs $14 CAD in Oakville.
  • Utilities including gas, electric and water cost $250.92 CAD per month for an average-sized apartment in Oakville. The same monthly services in Mississauga are approximately $192.73 CAD.
  • Renting a one-bedroom apartment in Mississauga is more expensive than acquiring an abode in Oakville ($1,100 to $1,325 CAD versus $800 to $1,200 CAD).
  • Three-bedroom apartments in the center of family-friendly Oakville are more expensive than centrally located Mississauga abodes ($2,000 versus $1,825 CAD). Apartments on the outskirts of Oakville are substantially cheaper than outlaying Mississauga housing ($1,175 versus $1,600 CAD).

In Closing

The cost of living in Oakville is substantially higher than living in neighboring Mississauga. Lengthy commute times prevent Oakville real estate prices from increasing, but costs remain high for other items including food and cigarettes. Talking with an Oakville real estate agent proves invaluable when contemplating a move to suburban Ontario.


Jayson Gilbert
Real Estate
http://ezinearticles.com/?Cost-of-Living:-Oakville-Vs-Mississauga-(Ontario,-Canada)&id=7514316

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