At a glance
- There’s a $409/month price gap between Montreal’s most vs least expensive neighbourhoods
- Ahuntsic-Cartierville is Montreal’s cheapest neighbourhood to rent in at an average of $1,528/month for an unfurnished, one-bedroom unit. Meanwhile, Westmount is the most expensive neighbourhood, at an average of $1,937/month – $409 more than in Ahuntsic-Cartierville.
- Average rental prices are up $136/month YoY in Montreal
- This January, the average rent for an unfurnished one-bedroom unit increased by just $4. However, compared to the same time last year, Montreal’s city-wide rental rate for unfurnished one-bedrooms has increased, now sitting $136 higher than in January 2024.
- Rents dip in some parts of montreal, surge in others
- Rental trends in Montreal this month reveal a clear divide, with some areas experiencing widespread price drops while others see increases. In Westmount, rental prices fell across all types of unfurnished units, while Hochelaga-Maisonneuve saw declines for all types of furnished units. Meanwhile, Notre-Dame-de-Grâce, Côte-des-Neiges, and Saint-Laurent saw prices increase across all types of unfurnished units.
Montreal’s city-wide average rent price saw a slight increase this January. This month, the average rent price for an unfurnished, one-bedroom unit has increased by just $4, bringing Montreal’s city-wide average rent to $1,735 – still well below rates in other major Canadian rental markets like Metro Vancouver and Toronto.
Average rent across Montreal
Let’s start by taking a closer look at rental trends over the past six months, plus a year-over-year comparison for unfurnished one-bedroom units in Montreal. This month, the average monthly rent price for an unfurnished, one-bedroom unit has increased by just $4. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished, one-bedroom unit is higher than in January 2024, with prices now $136 more than this time last year.
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Month-to-month rent change
Looking at both furnished & unfurnished units, there were some notable changes in rental rates across Montreal’s different neighbourhoods this month.
Looking first at unfurnished one-bedroom units, Saint-Laurent (+5.43%) had the largest month-to-month increase, while Westmount (-7.34%) saw the most notable decline.
Looking at furnished one-bedroom units, average rent prices decreased the most in Hochelaga Maisonneuve (-11.87%), while Notre-Dame-de-Grâce and Côte-des-Neiges (-7.11%) saw the biggest increase.
Montreal unfurnished vs furnished rent averages
This January, average monthly rent prices for both furnished and unfurnished units saw an increase. Furnished units decreased by (-3.91%) renting for an average of $1,722/month. Unfurnished units rose by (+0.24%) renting for an average of $1,735/month.
Looking for our full January 2025 Montreal Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
Neighbourhood breakdown
Montreal’s most and least expensive neighbourhoods had vastly different average rent prices this January. This month, Ahuntsic-Cartierville is Montreal’s cheapest neighbourhood to rent in at an average of $1,528 per month for an unfurnished, one-bedroom unit. Meanwhile, Westmount is the most expensive neighbourhood, at an average of $1,937 per month – $409 more than in Ahuntsic-Cartierville.
Let’s look even closer at the different listing types to see the differences in one-, two-, and three-bedroom rental rates across each area.
- Rent prices increased for all types of unfurnished units in Notre-Dame-de-Grâce and Côte-des-Neiges and Saint-Laurent.
- Ahuntsic-Cartierville has the lowest rental prices for one- and two-bedroom unfurnished units while Hochelaga Maisonneuve has the lowest rates for three-bedroom unfurnished units.
- Westmount saw rental prices fall for all types of unfurnished units while Hochelaga Maisonneuve saw prices fall for all types of furnished units this month.
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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Downloadable Resources
Data collection methodology
Our monthly rent reports use data from our own liv.rent listings, as well as data our team manually collects from other popular listing sites – looking at available basement suites, apartments, condos, townhouses, semi-detached houses, and single-detached houses for each area.
When collecting this data, we do exclude luxury properties listed at over $5,000, as well as rooms for rent and shared accommodation. Investing in manual data collection means that we only consider the current month’s listing, since we can filter out duplicate listings and older ads that haven’t been removed.
Another key difference between our data collection methods and some government agencies like the CMHC is that we only include current asking rent prices. Many official reports will include data for entire buildings in their reports, which tends to skew numbers lower since many units are already occupied, and may be rent-controlled or rented for significantly lower than the current rates.
As we are a Canadian rental platform founded and based in Vancouver, we want to ensure that we’re providing a completely accurate depiction of the rental market in the cities we look at.
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June 2024 Metro Vancouver Rent Report
June 2024 Toronto Rent Report
June 2024 Calgary & Edmonton Rent Report
June 2024 Montreal Rent Report
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