December 2021 Montreal Rent Report

Following November’s new yearly highs, rent across Montreal has once again returned to levels near its October averages. There were a number of interesting declines, and we’re keeping a close eye on prices heading into the new year.

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This monthly rent report complete with liv.rent data and data scraped manually from top listing sites shows the most accurate reflection of the true cost of rent. Read the full report now 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 month, we see the end (for now) of Montreal’s rental prices climbing, with prices falling back to their October levels.

This may signal that last month’s sudden, steep rise was an anomaly, as the majority of 2021 has been relatively stable for Montreal’s rent.

Month-to-month rent change

Rent prices in December for Montreal are characterized by stability in some areas, and significant shifts in others. Rent in Downtown has declined significantly (-7.41% for furnished units, -11.57% for unfurnished), with similar drops seen elsewhere as well.

In Montreal’s other neighbourhoods, prices have fallen in accord with the city’s overall decline in rental averages. Most notably, Westmount decreased -14.28% for unfurnished units, and Hochelaga-Maisonneuve fell -9.80%.

Montreal unfurnished vs. furnished rent averages

Declines in rent were nearly the same for unfurnished and furnished units, and the gap in price remains nearly the same at $206.

Though the price difference may have narrowed slightly in recent months, landlords can still earn a higher profit by renting out a furnished unit, on average. For renters, you can still save significantly on rent if you are able to bring your own furniture.

Neighbourhood breakdown

The price difference between Montreal’s most expensive and most affordable neighbourhoods is $333 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.

• The average price of an unfurnished one-bedroom unit in Côte-des-Neiges is now just $1,100.
• Three-bedroom unfurnished units in Downtown are just $248 more than two-bedroom units.
• Furnished one-bedroom units in Saint Henri are more expensive on average than their Downtown counterparts.

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

November 2021 Vancouver Rent Report
November 2021 Toronto Rent Report
November 2021 Montreal Rent Report