Blog 5 Rent Reports 5 Montreal 5 April 2023 Montreal Rent Report

April 2023 Montreal Rent Report

6 min read
Greg Park

Greg Park

Creative Content Writer at liv.rent

Published on April 05, 2023

At a glance

  • The city-wide average rent in Montreal has increased by just $2 this April, to $1,620 for an unfurnished, one-bedroom unit.
  • Downtown Montreal had the most expensive average rent prices for one-, two-, and three-bedroom, unfurnished units this month.
  • An unfurnished, one-bedroom unit now rents for an average of $474 more in Downtown than in Ahuntsic-Cartierville, the city’s least expensive neighbourhood to rent in.

Looking for our full April 2023 Montreal Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.

Heading into the spring, Montreal’s rental rates have barely moved this month. For April 2023, the average monthly rent for an unfurnished, one-bedroom unit has increased by just $2 since our March 2023 Rent Report was released. This bring’s the city’s average rent to $1,620 for this type of rental unit, still considerably below other major Canadian rental markets like Metro Vancouver and Toronto. We’ll continue to monitor Montreal’s average rent prices throughout 2023, amid the backdrop of rising interest rates, increased demand for rental housing, and a potential looming recession.

We’ve recently published our 2022 Canada-wide Annual Rent Report with even more rental data and statistics, including overarching trends and predictions for the year ahead. You can download your copy here.

This monthly rent report complete with liv.rent data and information 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.


Download The Latest Montreal Rent Report

For the complete Montreal rent report, download here.


Average rent across Montreal

Let’s start by taking a closer look at rental trends over the past six months, as well as a year-over-year comparison for an unfurnished, one-bedroom unit in Montreal. This April, the average price for an unfurnished, one-bedroom unit has increased by just $2. The city’s rent prices have been on an upward trend since January, and this slight increase may indicate that rates are starting to level off as summer approaches. Compared to April 2022, Montreal’s city-wide rental rates for an unfurnished, one-bedroom unit are up $197 on average.

rental averages and trends for Montreal via the April 2023 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.



Month-to-month rent change

Across Montreal’s individual neighbourhoods, there were quite a few meaningful changes to the city’s average rent prices when compared to previous months.

For unfurnished units, Verdun (+7.78%) was the only neighbourhood that saw a notable increase from month-to-month. Smaller increases occurred in Notre-Dame-de-Grâce (+3.13%), Hochelaga-Maisonneuve (+2.40%) and Ahuntsic-Cartierville (+2.18%). Côte-des-Neiges (-5.81%) and Saint Henri (-3.87%) experienced larger-than-usual declines in prices, while average rent prices remained more or less the same in The Plateau-Mont-Royal (-1.92%) and Downtown (+0.43%).

Changes in average rent price for furnished units in Montreal’s individual neighbourhoods were more of a mixed bag this month. Notre-Dame-de-Grâce (-13.63%) and The Plateau-Mont-Royal (-10.74%) experienced the largest month-to-month declines, while Ahuntsic-Cartierville (+11.99%) and Villeray-Parc-Extension (+10.79%) saw the largest increases.

percentage change by Montreal neighbourhood and unit type via the April 2023 liv rent report


Montreal unfurnished vs. furnished rent averages

This April, average prices for unfurnished one-bedroom units increased just slightly while furnished units fell by a fairly small margin. As of this month, furnished units now rent for an average of $33 more than unfurnished ones. This shows that landlords can still, on average, earn a higher profit by renting out their units already furnished, while also attracting different renter demographics such as students and those seeking short-term rentals. For renters, you will still typically see some savings if you are able to bring your own furniture.

average rent for furnished vs unfurnished units in Montreal via the April 2023 liv rent report


Neighbourhood breakdown

most and least expensive neighbourhood in Montreal for the April 2023 liv rent report

Montreal’s most and least expensive neighbourhoods had very different average rent prices this month. This April, Ahuntsic-Cartierville is Montreal’s least expensive neighbourhood to rent in at an average of $1,409 per month for an unfurnished, one-bedroom unit, while Downtown is again the city’s most expensive neighbourhood at an average of $1,883 per month for the same type of unit— a $474 difference.

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.

  • Downtown had the most expensive one-, two-, and three-bedroom unfurnished units this April, with prices also increasing from month to month for all of these units types.
  • Notre-Dame-de-Grâce had the lowest average rent prices for one- and two-bedroom furnished units this April.
  • Prices increased from month to month for one-, two-, and three-bedroom, unfurnished units in Downtown, Verdun, and Notre-Dame-de-Grâce.
average rent by listing type for unfurnished units in Montreal for the April 2023 liv rent report
average rent by listing type for furnished units in Montreal, part of the April 2023 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.



Be sure to subscribe to our mailing list so you never miss an update on the Montreal rental market.


Downloadable Resources

Strike up a conversation at your next Zoom call and show off the latest rental averages with our custom virtual backgrounds. 

Free Virtual Backgrounds: Download Here


Download The Latest Montreal Rent Report

For the complete Montreal rent report, download here.


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. For our Vancouver and Toronto Rent Reports, we look at Craigslist, Kijiji, Zumper, PadMapper, and Realtor.ca – as well as our own listings. For Montreal, we use PadMapper, Centris, and DuProprio, 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.



Find apartments & houses for rent with the liv.rent app

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

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

March 2023 Metro Vancouver Rent Report
March 2023 Toronto Rent Report
March 2023 Calgary & Edmonton Rent Report
March 2023 Montreal Rent Report

NEWSLETTER

Get rental reports, news, and tips straight to your inbox.

SHARE

RELATED ARTICLES

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

All the rental tools you need, in one place

Create your free liv.rent account today to enjoy an easier, safer way to rent with verified listings, digital contracts & rent payments, and much more.