April 2022 Montreal Rent Report

Montreal’s city-wide rental averages have risen again this April. After a brief cooling-off period last month, the city’s average rental prices have returned to just above their February highs. Particularly in areas like Saint Henri and Westmount, prices have unexpectedly spiked this month.

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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 April, prices have risen by $30 to establish a new yearly high at $1,423. Looking at the big picture, Montreal’s rent prices have been steadily climbing for quite some time now, so it seems within reason to expect continually higher rental averages as the year goes on. As always though, we’ll continue to monitor these trends as they develop.

Month-to-month rent change

April brings some significant changes to rent prices in many of Montreal’s neighbourhoods, most of which trend upwards. Looking at unfurnished units, Westmount (+23.16%), Notre-Dame-de-Grâce (+13.97%), and Saint Henri (+8.34%) all saw large increases in average price, while Verdun (-16.63%) and Ahuntsic-Cartierville (-6.79%) had the biggest declines this month.

In terms of furnished units, a few neighbourhoods saw some volatility: Saint Henri (+23.42%), Villeray-Parc-Extension (+20.47%), and Saint-Laurent (+20.02%) being the most notable among them.

Average rent prices in Downtown hardly budged this month – unfurnished units increased a mere 0.10%, while furnished units gained 1.40%.

Montreal unfurnished vs. furnished rent averages

Furnished one-bedroom units in Montreal are still more expensive than unfurnished units, by an average of $111 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.

Neighbourhood breakdown

Renting in Montreal’s most expensive neighbourhood now costs an average of $480 more than in its least expensive neighbourhood. Notre-Dame-de-Grâce has overtaken Downtown as the most costly neighbourhood in the city at $1,647, while Hochelaga-Maisonneuve remains the least expensive this April at just $1,167 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.

• Two-bedroom, unfurnished units in Notre-Dame-de-Grâce are only $189 more expensive than one-bedroom units, on average.
• Westmount has the most expensive three-bedroom, unfurnished units at $3,051, while Hochelaga-Maisonneuve has the cheapest at an average of just $1,846 per month.
• Furnished, one-bedroom units in Côte-des-Neiges are $253 cheaper than unfurnished units in the neighbourhood.

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

March 2022 Montreal Rent Report
March 2022 Toronto Rent Report
March 2022 Vancouver Rent Report