There are notable differences in the cost of living 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 trip to downtown Toronto. Economic and retail reports list above-average household incomes in Oakville that translate to more expensive meals and leisure activities. Rising demand continues to drive up Mississauga housing unit prices, while Oakville real estate remains relatively affordable.

Background

The cities of Mississauga and Oakville are suburbs on the southern outskirts of Ontario. Jeff O’Leary, a local Oakville realtor, feels that each city offers residents a different kind of lifestyle. Europeans came to Mississauga in the early 17th century and bought the land from local natives. The railway expansion helped the city emerge as an industrial powerhouse. Citibank Canada, Hewlett Packard, and Target Canada are some of the companies currently headquartered in Mississauga.

Oakville was formed around Dundas Street, an area originally explored for military use. The proximity to waterways made the city a center for shipbuilding. Despite being home to several oil refineries and automotive plants, Oakville emerged as a family-friendly city with many cultural and educational attractions.

Demography

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

A 2001 Retail and Business Services Review created for Oakville describes local revenues as 157 percent above average Canadian levels. Residents reported annual salaries of approximately $ 105,150 CAD. As in neighboring Mississauga, many who live in Oakville have postsecondary degrees. City-Data.Com found that approximately 33 percent of local residents successfully completed college.

Differences in cost of living

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

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

Price comparisons

Numbeo.com provides pricing data for Mississauga and Oakville. People interested in relocating should consider the following:

• Shopping at local supermarkets is hit or miss depending on the article. Boneless chicken breasts in Mississauga cost $ 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 package costs $ 14 CAD in Oakville.
• Utilities including gas, electric, and water cost $ 250.92 CAD per month for an average-size apartment in Oakville. The same monthly services in Mississauga cost approximately $ 192.73 CAD.
• Renting a one-bedroom apartment in Mississauga is more expensive than purchasing a residence in Oakville ($ 1,100 to $ 1,325 CAD versus $ 800 to $ 1,200 CAD).
• Family-friendly downtown Oakville three-bedroom apartments are more expensive than downtown Mississauga residences ($ 2,000 vs. $ 1,825 CAD). Apartments on the outskirts of Oakville are substantially cheaper than Mississauga housing costs ($ 1,175 versus $ 1,600 CAD).

In conclusion

The cost of living in Oakville is substantially higher than in neighboring Mississauga. Long travel times keep Oakville property prices from rising, but costs remain high for other items, including food and cigarettes. Talking to an Oakville real estate agent proves invaluable when contemplating moving to the Ontario suburbs.