June 2020 Montreal Rent Report

by Kristina - June 8, 2020

Montreal Rent Trends

Let’s take a closer look at the average rent in Montreal, rent trends, and renter demographics based on June 2020’s figures. The numbers collected this month were the second during the complete COVID-19 pandemic period and point to a sustained downward pressure on rental rates throughout the Montreal region.

Month-to-Month Rent Change

Below we show the percentage change in average rent from May to June’s figures. Across all neighbourhoods, rents dropped. The biggest decrease was in Plateau Mont Royal where rent averages for furnished apartments went down by 11.44%, while Plateau Mont Royal saw the smallest decrease of 0.73% in rates for furnished apartments.

Montreal Unfurnished vs. Furnished Rent Averages

The average rent in Montreal for an unfurnished one bedroom apartment in June is $1,310 down from May’s $1,377. The average cost of a furnished apartment dropped, too, to $1,581 from May’s $1,643.

Neighbourhood Breakdown

To assist you in your rental decision, here is a breakdown of rental averages across other Greater Montreal neighbourhoods. Comparing 1, 2, and 3 bedroom rates for both unfurnished and furnished listings across each neighbourhood.

The Montreal neighbourhood of Verdun had the lowest average rent in the region with a 1 bedroom, unfurnished unit costing $1,161/month, down further from from May’s $1,208, while Plateau Mont Royal was the most expensive, with an average rent of $1,483 down from last month’s $1,536.

Cost of Living

As all our data indicates, the cost of living in Montreal compared to other Canadian cities is relatively low, making it an attractive option for many. The economy and job market are strong, in addition to highly competitive rents, making it a particularly attractive choice for young people.

COVID-19 Resources

For information regarding Coronavirus (COVID-19) and landlords and tenants, refer to our comprehensive resource posts. They include information on the various federal and provincial assistance initiatives available to help support landlords (small business relief) and tenants (rent relief):

Here is the full Montreal rent report for you to save and reshare with ease:

DOWNLOAD: The complete June 2020 – Montreal Rent Report