Renting in
Lakeview.
Mississauga's next big waterfront — the Lakeview Village redevelopment is transforming a former power plant site into one of the GTA's most exciting new communities. If you're looking to rent in Lakeview, Mississauga, this is where working-class roots meet waterfront ambition — and where smart renters lock in value before the transformation is complete.
Lakeview is a neighbourhood in the middle of a major transformation. For decades it was a quiet, working-class pocket of south Mississauga — defined by the massive Lakeview Generating Station that sat on the waterfront. That power plant was demolished, and the 177-acre site is now becoming Lakeview Village, one of the largest waterfront redevelopments in Canadian history.
The established part of the neighbourhood is anchored along Lakeshore Road East — a mix of older bungalows, low-rise apartments, and small shops that still carry the area's unpretentious character. It's close to Port Credit's vibrant village core but noticeably quieter and more affordable.
The Waterfront Trail runs through here, connecting to Lakefront Promenade Park, the Arsenal Lands, and the heritage Small Arms Inspection Building. Add in the Inspiration Lakeview project and the proximity to Marie Curtis Park, and you have a lakefront community that's evolving from overlooked to sought-after — fast.
| Unit Type | Avg. Monthly Rent | Notes |
|---|---|---|
| Studio / Bachelor | $1,350–$1,650 | Limited supply — mostly older low-rise buildings |
| 1 Bedroom | $1,650–$2,150 | Best value along Lakeshore Rd East corridor |
| 2 Bedroom | $2,100–$2,600 | Mix of older apartments and newer condo units |
| 3 Bedroom | $2,500–$3,100 | Townhouses and detached rentals available |
Source: TRREB Rental Market Report Q1 2026 (Mississauga South, leased apartments). Ranges reflect Lakeview-area variation by unit type, age, condition, and inclusions. Average rents across the GTA were down year-over-year in 2025–2026 — renters have real negotiating power right now.
What Your Dollar Gets You
Lakeview is one of the best-value waterfront-adjacent neighbourhoods in the entire GTA. A $1,900 budget that gets you a cramped studio downtown gets you a proper one-bedroom with lake proximity here. Two-bedrooms at $2,350 are significantly cheaper than Port Credit equivalents.
Current rental stock is a mix of older low-rise apartments along Lakeshore Rd East, basement suites in established homes, and newer condo units in recently completed buildings. As Lakeview Village phases deliver, expect a wave of investor-owned condos entering the rental market.
Most rentals in the area include parking, which remains important given the mixed walkability. Units closer to the waterfront command a premium but are still well below comparable lakefront locations.
Transit & Roads
Lakeview benefits from proximity to the Long Branch GO Station just across the Toronto border, putting Union Station roughly 35 minutes away on the Lakeshore West line. Port Credit GO is also a short drive or bus ride west, offering another Lakeshore West line connection plus future Hurontario LRT access.
MiWay bus routes serve Lakeshore Road East and connect north to Cooksville GO and Square One. The Lakeshore Rd East corridor provides a direct east-west link along the waterfront, while Cawthra Road and Dixie Road run north-south to the QEW and Highway 403.
Cycling along the Waterfront Trail is a genuine commute option for those working in Port Credit or heading east toward Toronto's lakeshore. The neighbourhood is more walkable than most of Mississauga thanks to the Lakeshore Rd strip, but a car still helps for north-south trips and grocery runs.
What This Means for Renters
Lakeview's income profile reflects its working-class and middle-income roots — median household income sits around $80,000, close to the GTA median. This is a neighbourhood of mixed incomes: tradespeople, young professionals, and families who've lived here for generations alongside newer arrivals drawn by affordability and waterfront proximity.
For renters, this means a less competitive application environment than higher-income neighbourhoods like Port Credit or Oakville. Landlords here are practical and value reliable tenants. As Lakeview Village delivers new units and the neighbourhood gentrifies, expect the income profile — and competition for rentals — to shift upward over the coming years.
We have access to every MLS® System listing in Lakeview and across Mississauga. Submit your application and we'll have showings booked within 24 hours, subject to availability.
Start Your Application →Thinking of buying instead? Explore homes at TheHousingMarket.ca
Lakeview is one of the most exciting neighbourhoods to rent in across the GTA right now. The massive Lakeview Village redevelopment is transforming a former power plant site into a mixed-use waterfront community, which means the area is evolving fast. You get waterfront proximity, Lakeshore Rd amenities, and easy access to Port Credit — all at rents that are noticeably lower than Port Credit itself. The trade-off is that the neighbourhood is still in transition, so some blocks feel more established than others.
Lakeview Village is a massive mixed-use redevelopment on the former Lakeview Generating Station site along the Mississauga waterfront. When complete, it will include thousands of residential units, retail spaces, parks, a community centre, and direct waterfront access. For renters, this means a significant increase in rental supply over the coming years — particularly new-build condos and purpose-built rentals. It also means the neighbourhood's character, walkability, and amenities will improve substantially as each phase delivers.
Lakeview already offers solid waterfront access through the Waterfront Trail, Lakefront Promenade Park, and nearby Marie Curtis Park. The Lakeview Village development will dramatically expand waterfront parkland and public access along the lake. The Arsenal Lands and Small Arms Inspection Building add heritage character to the waterfront corridor. For renters who value lake access, Lakeview delivers at a fraction of what you'd pay in Port Credit or the Toronto waterfront.
Lakeview sits immediately east of Port Credit and shares many of the same advantages — waterfront access, Lakeshore Rd lifestyle, GO Train proximity — but at lower rents. Port Credit is more established with a vibrant village core, more restaurants, and a dedicated GO station. Lakeview is less polished but more affordable, and the Lakeview Village development is closing the gap fast. If you want the Port Credit lifestyle at a lower price point and don't mind a neighbourhood still finding its identity, Lakeview is a smart play.
Lakeview is one of the more affordable waterfront-adjacent neighbourhoods in the GTA. Average one-bedroom rents sit around $1,900 — noticeably below Port Credit and well below Toronto's waterfront. Two-bedrooms average around $2,350. The working-class roots of the neighbourhood keep prices grounded for now, though expect upward pressure as Lakeview Village units come to market and the area gentrifies further. The 2025–2026 GTA rental market softening is giving tenants additional leverage.
Yes — significantly more. The Lakeview Village development alone will add thousands of residential units to the area over the next several years, many of which will enter the rental market as investor-owned condos or purpose-built rentals. Additional intensification along Lakeshore Rd East is also underway. For renters, this means more options and potentially more negotiating power as supply increases. The 2025–2026 rental market softening across the GTA is already giving tenants leverage — especially on longer vacancies.