liv.rent's May 2022 rent report for Montreal - statistics, trends, data & more

May 2022 Montreal Rent Report

  • Montreal’s city-wide average rent for unfurnished one-bedroom units has risen $27 this May
  • The average rent price for an unfurnished, one-bedroom unit in Downtown rose +7.92% this month
  • Montreal’s average rent is now up $150 since the start of the year

Montreal’s average rent prices continue to climb, up another $27 this May. Aside from a brief drop in March, the region’s rental averages have been steadily climbing since the start of the year, with notable price increases in many Montreal neighbourhoods.

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This monthly rent report complete with liv.rent data and data collected from top listing sites shows the most accurate reflection of the true cost of rent in Montreal. Download and read the full report below to learn more.

Jump to the following Rent Report sections:


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. This May, prices have risen by $27 for another yearly high of $1,450. Looking at the year as a whole, Montreal’s average rent prices have increased in all but one month, with an aggregate $150 increase since January.

rental averages and trends for Montreal via the May 2022 liv rent report

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Month-to-month rent change

Montreal’s average rent prices have had a volatile few months, and May is no different. In terms of unfurnished units, Westmount (+21.78%), Saint Henri (+12.83%), and Saint-Laurent (+10.50%) all saw large increases in average price, while Verdun (-11.84%) was the only neighbourhood with any significant price drop this month.

There was a bit more volatility for furnished units, most notably in Saint Henri (+30.18%), Saint-Laurent (+27.33), Westmount (+19.68%), and Verdun (-16.87%).

Even in the usually stable The Plateau-Mont-Royal and Downtown neighbourhoods, things were a bit more volatile. In The Plateau-Mont-Royal, unfurnished units were up +5.66% while furnished units gained +2.80%, and in Downtown unfurnished units gained a significant +7.92% while furnished ones rose +3.86%.

percentage change by Montreal neighbourhood and unit type via the May 2022 liv rent report


Montreal unfurnished vs. furnished rent averages

Furnished one-bedroom units in Montreal are still more expensive than unfurnished units, by an average of $129 this month. This shows that landlords can still earn a higher profit by renting out a furnished unit, on average – though not by as much as one might expect. For renters, you can still save significantly on rent if you are able to bring your own furniture.

average rent for furnished vs unfurnished units in Montreal via the May 2022 liv rent report


Neighbourhood breakdown

most and least expensive neighbourhood in Montreal for the May 2022 liv rent report

The gap in price between Montreal’s most and least expensive neighbourhoods has widened this may – it now costs $556 more to rent in Downtown than in Hochelaga-Maisonneuve. The former has reclaimed its title as the city’s most expensive neighbourhood this month at $1,748, while Hochelaga-Maisonneuve has been the cheapest for some time now, at $1,192 per month for an unfurnished, one-bedroom unit, on average.

Let’s take a closer look at the different listing types to see the differences in one, two, and three-bedroom rental rates across each area.

  • In Villeray-Parc-Extension, two-bedroom, furnished units cost just $166 more than one-bedroom units, and three-bedroom units cost only $88 more than two-bedroom units
  • Three-bedroom, furnished units are cheaper on average than two-bedroom furnished units in Verdun this May
  • Furnished, two-bedroom units in Saint Henri averaged $3,142 this month – over $500 more than in any other neighbourhood.
average rent by listing type for unfurnished units in Montreal for the May 2022 liv rent report
average rent by listing type for furnished units in Montreal, part of the May 2022 liv rent report

Is your rental priced competitively?

Find out with a free rent estimate. Our team of rental experts will calculate your unit’s true value based on your listing details & current market trends.



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Subscribe to receive these monthly updates on the Montreal rental market. Discover last month’s Rent Reports below:

April 2022 Montreal Rent Report
April 2022 Toronto Rent Report
April 2022 Vancouver Rent Report

Greg Park, B.A.

Creative Content Writer at liv.rent

Greg Park is a Creative Content Writer here at liv.rent who shares insights and news with our community of landlords and tenants. [Read Full Bio]

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