September 2020 Montreal Rent Report
As summer moves into autumn and the global pandemic continues, we take a closer look at the reported average rent prices for the month of September across the Montreal region. Based on data gathered from numerous listing websites and our own liv.rent platform, our rent reports seek to identify and share key market data and trends, to help inform and educate landlords and tenants alike.
Jump to the following Rent Report sections:
Montreal Rent Trends
The numbers collected this month come as Quebec moves out of the COVID-19 pandemic period into another phase of re-opening. Looking at a 6 month period beginning in April, Montreal is experiencing a dip in rental rates continuing from August despite a slight recovery in July.
Month-to-Month Rent Change
Below we show the percentage change in average rent from August to September’s figures. While last month’s report showed volatility, the September report shows much more stability. The largest decreases for unfurnished rentals were seen in Ahuntsic-Cartierville at -1.61% and in Saint Laurent neighbourhood at -1.53%. The same neighbourhoods also saw the biggest decrease in furnished rentals, with Ahuntsic-Cartierville at -3.85% and Saint Laurent at -3.51%.
Montreal Unfurnished vs. Furnished Rent Averages
The average rent in Montreal for an unfurnished one-bedroom apartment in September is down to $1,358 from August’s $1,375. The average cost of a furnished also dipped slightly to $1,553 from August’s $1,577.
The Montreal neighbourhood of Ahuntsic-Cartierville had the lowest average rent in the region with a 1 bedroom, unfurnished unit costing $1,017 while rents Downtown were highest at $1,511.
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.
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.
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For more rental insights, discover our previous Rent Reports:
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):