Lorne Park's $2.79M Average Listing Comes With a $56,175 Land Transfer Tax Bill
The average Lorne Park home is listed at $2.79 million, and buying at that price hands the Province roughly $56,175 in Ontario land transfer tax on closing day — before legal fees, title insurance, or a single property tax installment. That is well past the $2M line where Ontario's top 2.5% bracket begins, so every dollar above it is taxed at the highest rate. What actually trades is cheaper than what is listed, and the gap is unusually wide here; both numbers are below. This is one of Mississauga's established high-price neighbourhoods, and the carrying costs match the sticker price.
About Lorne Park
Lorne Park is the most established affluent neighbourhood in Mississauga — a low-density enclave of mature trees, wide lots, and custom-built estates stretching south of the QEW toward Lake Ontario, between Clarkson and Port Credit. It is anchored by top-ranked public schools (Lorne Park Secondary and its feeder elementaries), the lakefront green space at Jack Darling Memorial Park, and a housing stock that runs from renovated post-war bungalows to newly-built multi-million-dollar homes on 75-to-100-foot frontages.
Financially, Lorne Park behaves nothing like the rest of the city. The average home here is listed at about $2.79 million, which Zolo puts 134% above Mississauga’s $1,188,000 average listing price, about 2.3 times as much (Zolo, 14 September 2026). Homes that actually sold over the 56 days to 10 September 2026 averaged considerably less, about $1.78 million. Both figures are real and they measure different things: the listing average describes the 93 homes you can walk into today, which in a thin luxury market skew toward expensive estates that sit unsold, while the sold average describes the 13 that changed hands. Treat the listing price as what you will be quoted and the sold price as what the market has been clearing, and note Zolo's 96.4% sale-to-list ratio between them. The largest trophy estates in enclaves like Watercolours and Whiteoaks of Jalna trade well into the $4M–$8M range. Roughly three-quarters of households own rather than rent, and rental inventory is genuinely scarce: 13 rentals were listed on 25 August 2026, spanning $1,400 for a one-bedroom suite to $13,999 for a five-bedroom house, with a median asking rent around $3,600/month. Set against a median monthly mortgage near $7,600 (Zolo, 14 September 2026), renting a house here costs under half of carrying one. For most buyers, the decision isn't rent-versus-own on price; it's understanding the full cost of ownership at a price point where every tax and fee scales with the number.
Buying in Lorne Park — The Closing-Day Math
| Purchase Price | Ontario Land Transfer Tax | Top Bracket Reached | Est. Property Tax / yr* |
|---|---|---|---|
| $1,400,000 | ~$24,475 | 2.0% | ~$15,231 |
| $1,776,846 (avg sold) | ~$32,012 | 2.0% | ~$19,330 |
| $2,500,000 (avg detached) | ~$48,975 | 2.5% | ~$27,198 |
| $2,687,632 (avg listing at 96.4%) | ~$53,666 | 2.5% | ~$29,239 |
| $2,788,000 (avg listing) | ~$56,175 | 2.5% | ~$30,331 |
| $4,500,000 (Watercolours) | ~$98,975 | 2.5% | ~$48,956 |
| $7,000,000 (Whiteoaks trophy) | ~$161,475 | 2.5% | ~$76,153 |
*Illustrative property tax at the City's 2026 residential rate of 1.087901% (By-law 0061-2026) applied to the purchase price. Your actual bill is calculated on your MPAC assessed value — currently frozen at January 1, 2016 levels — not today's market price, so most established Lorne Park homes are assessed well below their current sale value. Land transfer tax figures are calculated on the standard Ontario one-or-two single-family-residence schedule. Estimate your real bill →
Where These Numbers Come From
Ward & representation
Lorne Park sits in Ward 2, represented by Councillor Alvin Tedjo (City of Mississauga, 2022–2026 term).Tax rates
2026 residential property tax rate 1.087901% (City of Mississauga By-law 0061-2026); Ontario LTT brackets per provincial schedule.Home & rent prices
The ~$1.78M average sold price (56 days to 10 Sept 2026), ~$2.79M average listing price and ~$7,600 median monthly mortgage are third-party market figures (Zolo, read 14 September 2026) and move month to month. The ~$3,600 median asking rent is taken from the 13 Lorne Park rentals listed on 25 August 2026, not from a census shelter-cost series.Assessed values
MPAC assessments remain frozen at Jan 1, 2016 values; the timing of the next province-wide reassessment — which would reprice Lorne Park sharply — is not set.Lorne Park Reading
Clarkson vs. Port Credit vs. Lorne Park
Where Lorne Park's premium sits against its two south-Mississauga neighbours, at every price point from rental to estate.
🏛 Property TaxMississauga Property Tax 2026
How Ward 2's assessed values translate into your annual bill — and why the 2016 assessment freeze matters most to high-value homes.
🏡 BuyingClosing Costs in Mississauga
Land transfer tax, legal fees, and title insurance scale with price — the full closing math on a seven-figure purchase.
🛡 InsuranceHome Insurance by Neighbourhood
Replacement-cost coverage on a large detached Lorne Park home carries very different premiums than a condo. What drives the number.
Calculators for Lorne Park Buyers
Land Transfer Tax Calculator
Enter any Lorne Park purchase price and see your exact Ontario LTT, including the 2.5% bracket above $2M.
🏛 Property TaxProperty Tax Estimator
Estimate your annual Ward 2 bill from your MPAC assessed value and the 2026 mill rate.
📊 Cost IndexCost of Living Index
See how Lorne Park's carrying costs compare with Port Credit, Clarkson, and Mineola.
Financial Fast Facts — Lorne Park
- Postal codes L5H and L5J; roughly 75% of households own, ~25% rent (Zolo, 2026)
- Average listing price ~$2.79M across 93 active listings, 134% above the city average listing; average sold price ~$1.78M over the 56 days to 10 Sept 2026; sale-to-list ratio 96.4% (Zolo, 14 Sept 2026); trophy estates $4M–$8M+
- Ontario land transfer tax ≈ $56,175 at the average listing price, ≈ $53,670 after typical negotiation, ≈ $32,010 at the average sold price; anything above $2M reaches the 2.5% bracket
- Rental inventory is scarce — 13 listings at the time of writing, $1,400 to $13,999, median asking rent ~$3,600/month; under half the ~$7,600 median monthly mortgage, so renting here costs far less than owning
- Ward 2 — Councillor Alvin Tedjo; primary contact for zoning, tree-permit, and development questions
- 2026 residential property tax rate 1.087901% — bills calculated on 2016-frozen MPAC values, so established homes are assessed below market
- Served by Alectra (hydro) and Enbridge (gas); large detached footprints mean higher absolute utility loads
- Rent control applies to units first occupied before Nov 15, 2018 — relevant only to the small rental pool
- Clarkson GO (Lakeshore West line) is the nearest station for downtown-Toronto commuters
Correction · Corrected 14 September 2026. This page previously stated Lorne Park’s average listing price as $2.89 million, 142% above the city and “roughly 2.9 times the $982,710 all-type city average this site publishes”, with an average sold price of $1.75 million and a $7,800 median mortgage. The $982,710 did not match Zolo’s city figures. On Zolo’s figures read 14 September 2026, Lorne Park lists at an average of $2.79 million, 134% above the city’s $1,188,000 average listing (about 2.3 times), sold homes averaged $1.78 million, and the median mortgage is $7,600. Land transfer tax and property tax estimates were recalculated.
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Home and rent figures are third-party market estimates from Zolo (home prices and mortgage read 14 September 2026; median asking rent from live listings on 25 August 2026) and change over time; verify current pricing before making any purchase decision. Land transfer and property tax figures are illustrative calculations based on published 2026 Ontario and City of Mississauga rates. This page is general financial information, not legal, tax, or real estate advice. © 2026 MississaugaWallet.ca