August 2021 Montreal Rent Report

Rental averages in Montreal have been experiencing the smallest of changes, with rent this summer in the city simmering around the same levels we saw earlier this spring. For August, using both data from our own platform and manual collection processes covering all major rental listings, liv.rent created the most accurate reflection of the true cost of rent in Montreal. Read our full report now and download the full version below to learn more.

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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. Rent has almost flatlined in the last six months with August rental rates nearing what they were like in April and May.

After a gentle increase, a pattern of average rent simmering around $1,200 has emerged.

Month-to-month rent change

From July to August 2021, rent didn’t move that much except for in the historically most affordable neighbourhood of Ahuntsic-Cartierville. Unfurnished rent dipped (-7.38%) and furnished rent went up (9.09%.)

There were other neighbourhoods like Verdun (+6.25%) where furnished rent went up slightly but overall rent has remained fairly consistent in the last month.

Montreal unfurnished vs. furnished rent averages

The difference between furnished and unfurnished one-bedroom averages has grown slightly to $236 after a slight climb in furnished rental rates.

For landlords and property managers, renting out a furnished suite could yield higher returns. 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 $508 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.

• It’s about $500 more to go from an unfurnished one-bedroom to a two-bedroom across the city.
• Three-bedrooms are commanding prices above $2000 in many neighbourhoods.
• The price difference between furnished and unfurnished two and three-bedrooms downtown is very close.

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Downloadable Resources

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

July 2021 Vancouver Rent Report
July 2021 Toronto Rent Report
July 2021 Montreal Rent Report