Apartments for Rent in Mimico, Toronto, ON

Mimico, Toronto apartment availability

Mimico's rental market offers a good selection of listings, with an average of 38 rentals available each month in 2024. The neighborhood's rental inventory is relatively balanced, with 1-bedroom and 2-bedroom apartments making up the majority of listings. Many buildings in Mimico offer convenient amenities, including assigned parking, on-site laundry, and pet-friendly options with restrictions. Specifically, 56% of apartments have assigned parking, 65% have on-site laundry, and 53% allow pets with some restrictions. This mix of amenities and apartment types makes Mimico a suitable option for a range of renters.

Mimico, Toronto rental market trends

Mimico's rental market experienced a decline in 2024, with average monthly rents decreasing by 5.6% to $2,274. 1-bedroom units averaged $2,126 per month, a 4.7% decrease from the previous year. 2-bedroom units saw a more significant decline of 8.5%, averaging $2,516 per month. In contrast, studio apartments bucked the trend, increasing by 14.8% to $1,904 per month.

The rental market in Mimico tends to fluctuate throughout the year, with November typically seeing the highest rents, 16.5% higher than June, the month with the lowest rents. This suggests that renters may find better deals during the summer months. However, those searching for a new apartment in the fall can expect to face higher prices. Understanding these seasonal trends can help renters navigate the market and find the best time to secure a new place.

Why Mimico, Toronto is a great place to live

Mimico stands out as a top choice for renters prioritizing social living and environmental sustainability. With its high transit score, well-developed street infrastructure, and frequent transit options, Mimico makes it easy to get around and connect with friends. The neighborhood's walk score and safety features also contribute to its appeal for those who value an active social life. In terms of environmental sustainability, Mimico shines with its use of non-toxic paint, rainwater harvesting, and recycling programs. Many apartments in the area also feature sustainable materials, low-flow fixtures, and community solar projects, making it an attractive option for eco-conscious renters. Overall, Mimico offers a unique blend of social convenience and environmental responsibility, making it an excellent choice for like-minded individuals.