September 2021 Montreal Rent Report
- The overall rental average in September mirrors what we saw in July at $1,218.
- The price difference between furnished and unfurnished units is $138 on average.
- All Montreal neighbourhoods average more than $1,000 per month in rent for a one-bedroom.
As we move towards autumn and into September, the cost of rent in Montreal is shifting. Rental averages in the city are acting like a yo-yo right now, slipping and surging from month to month.
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Average rent across Montreal
First, we’ll take a look at rental trends over the last six months for an unfurnished one-bedroom apartment in Montreal. There is a small yo-yo effect happening.
Rental prices are shifting from $1,193 up to $1,218 and then back down and up again. This could point to some stability, although zooming out at the last six months and a definite yet slight upward trend emerges.
Month-to-month rent change
From August to September, one-bedroom unfurnished rent dropped (-12.30%) in Villeray-Parc-Extension but went up slightly Downtown (+3.02.)
Most neighbourhoods experienced just small changes, with the biggest outlier being an increase (+13.64%) in Ahuntsic-Cartierville for one-bedroom furnished rent.
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Montreal unfurnished vs. furnished rent averages
The difference between furnished and unfurnished one-bedroom averages has dipped down to just being a $138 difference.
What this means is that, for landlords and property managers, renting out a furnished suite could yield higher returns long-term, although the margins are slight right now. For renters, you can still save on rent if you bring your own furniture.
Neighbourhood breakdown
The price difference between Montreal’s most expensive and most affordable neighbourhoods is $438 for an unfurnished one-bedroom.
Let’s look more at the different listing types to see the differences in one, two, and three-bedroom rent rates across each area.
- All Montreal neighbourhoods average more than $1,000 per month in rent for a one-bedroom.
- Saint Henri-Westmount has the most expensive furnished three-bedroom units.
- For unfurnished units, Notre-Dame-de-Grâce is the most affordable place to upsize from a one to a two-bedroom.
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August 2021 Vancouver Rent Report
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