Being in the Greater Toronto Area, Brampton has high housing costs. The average detached home in the city cost over $1 million at the end of 2020. The average rent for the 905 region, which includes Brampton, was $2,139 in the fourth quarter of 2020. Given the high cost of living, it’s important you decrease your housing cost by looking for the lowest mortgage interest rate in Brampton.
Anyone moving to Brampton should know that it has one of the highest car insurance costs in Canada. In fact, according to our data, the price of car insurance in the city is 123% higher than the provincial average.
Clearly, if you’re planning to live in Brampton, you’ll have to be prepared for what’s a relatively high cost of living in Canada. Budget accordingly.