Affordable rental units must remain affordable for 30 years from when they’re first occupied. This includes a 5-year phase-out that begins after 25 years. If a tenant is living in the unit after 25 years, the unit will stay affordable until it’s vacated, for up to 5 years.
The maximum rent that can be charged on an inclusionary zoning rental unit for 2024 is:
- $1,625 for 1-bedroom units
- $1,855 for 2-bedroom units
- $1,967 for 3-bedroom units
Rates are based on average market rent from the Canada Mortgage and Housing Corporation (CMHC) annual rental market survey. The cost of parking is not included in housing costs.
Affordable ownership units must remain affordable for 99 years from when they’re first occupied. If a unit is sold during that period, the sale price must be at or below the maximum set by the City for that year.
The maximum affordable purchase price that can be charged on inclusionary zoning ownership units for 2024 is:
- $333,717 for 1-bedroom units
- $400,461 for 2-bedroom units
- $478,983 for 3-bedroom units
Rates are based on housing costs that are no greater than 30% of household income for Mississauga’s moderate-income households, determined from indexed 2021 census data. The cost of parking is not included in housing costs.