Townhouses Under $500,000 in Mississauga
39 townhouses found in Mississauga. Average price: $449,776.
103 - 3040 CONSTITUTION BOULEVARD, Mississauga
164 - 85 BRISTOL ROAD E, Mississauga
Finding a townhouse under $500,000 in Mississauga is a challenge in today's market, but opportunities do exist for motivated buyers. These entry-level townhomes are typically found in neighbourhoods like Malton, Cooksville, and Rathwood, where condo-style townhouses with lower square footage offer an accessible path to homeownership. At this price point, expect two to three bedrooms and compact layouts that prioritize efficient use of space. Many of these properties come with maintenance fees that cover exterior upkeep and shared amenities, making them ideal for first-time buyers who want the feel of a house without the full burden of maintenance. Act quickly when listings appear at this price — they tend to sell fast.
Where to Find Sub-$500K Townhouses in Mississauga
The most affordable townhouse pockets in Mississauga are concentrated in the northeast and central corridors. Malton, situated near Pearson Airport, consistently offers some of the lowest-priced townhomes in the city thanks to its proximity to industrial areas and flight paths. Cooksville, along the Hurontario corridor, features older condo townhouse complexes that frequently list below the half-million mark. Rathwood and Fairview also present opportunities, particularly in buildings from the 1980s and 1990s that have been well maintained. Buyers should also monitor Dixie Road communities where smaller units occasionally come to market at competitive prices. Working with a local agent who tracks pocket listings can give you an edge in this competitive segment.
What to Expect at This Price Point
Townhouses under $500,000 in Mississauga are generally condo-titled properties ranging from 800 to 1,200 square feet. Most offer two bedrooms, though some three-bedroom units in older complexes do appear. Parking is usually a single designated spot — either an outdoor space or underground stall — rather than a private garage. Many of these townhomes include monthly maintenance fees between $300 and $600 that cover snow removal, landscaping, and building insurance. Buyers should budget for potential cosmetic updates, as homes at this price often feature original finishes. Despite the trade-offs, sub-$500K townhouses provide genuine value for buyers who prioritize location in the GTA over square footage, especially given Mississauga's improving transit infrastructure.
Current Market Snapshot
There are currently 39 townhouses matching this search in Mississauga, compared to 883 total townhouse listings across the city. The average asking price for these listings is $449,776, while the overall Mississauga average is $872,533. Listings are updated daily, so check back regularly for new properties.