July 2020 Montreal Rent Report

by Kristina - July 2, 2020

Montreal Rent Trends

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

Month-to-Month Rent Change

Below we show the percentage change in average rent from June to July’s figures. Across most neighbourhoods, rents have started to recover with Saint Henri/Little Burgundy neighbourhood seeing the the biggest increase in rents for unfurnished apartments by 12.39%. Monkland Village, in contrast, saw the biggest decrease with furnished rental rates dropping 9.47%

Montreal Unfurnished vs. Furnished Rent Averages

The average rent in Montreal for an unfurnished one bedroom apartment in July is up to $1,412 from June’s $1,310. The average cost of a furnished also increased, to $1,586 from June’s $1,581.

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 Ahuntsic-Cartierville had the lowest average rent in the region with a 1 bedroom, unfurnished unit costing $1,022 while rents in Plateau Mont Royal were $1,589, up considerably from last month’s $1,483.

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 July 2020 Rent Report Package for easy sharing here.