At a glance
- Montreal’s city-wide average rental rate for an unfurnished, one-bedroom unit has decreased by $8, to $1,579/month this December.
- Downtown Montreal had the most expensive average rent prices for all types of units this month except for furnished three-bedroom units.
- Ahuntsic-Cartierville had the least expensive one-, two-, and three-bedroom unfurnished units to rent this December.
Looking for our full December 2023 Montreal Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
Heading deeper into the slow winter renting season, Montreal’s city-wide rental rates have decreased for the third straight month. This December, the average monthly rent for an unfurnished, one-bedroom unit has fallen by just $8, bringing Montreal’s city-wide average rent to $1,579 for this unit type which is well below rates in other major Canadian rental markets like Metro Vancouver and Toronto.
Looking for our full December 2023 Montreal Rent Report? Download your copy below to get all the latest insights.
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 unfurnished, one-bedroom units in Montreal. For December 2023, the average monthly rent price for an unfurnished, one-bedroom unit has fallen by $8, which sees rates fall below August levels. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished, one-bedroom unit has increased by $55 since December 2022.
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Month-to-month rent change
In terms of both furnished & unfurnished units, there were a few notable changes in rental rates across Montreal’s different neighbourhoods this December.
Looking first at unfurnished, one-bedroom units, Villeray-Parc-Extension (+4.58%), Saint-Laurent (+3.83%), and Ahuntsic-Cartierville (+3.23%) all saw notable month-to-month increases. Prices fell by a substantial amount in Saint Henri (-7.04%), Verdun (-3.89%), and Downtown (-1.93%).
Looking at furnished, one-bedroom units, average rent prices increased by a notable amount in Downtown (+5.33%) and Hochelaga-Maisonneuve (+4.42%), falling in Côte-des-Neiges (-7.42%), Notre-Dame-de-Grâce (-6.29%), and Villeray-Parc-Extension (-6.20%).
Montreal unfurnished vs. furnished rent averages
As of December, furnished, one-bedroom units continue to rent for more than unfurnished, one-bedroom units on average. This month, furnished, one-bedroom units now rent for an average of $128 more than unfurnished, one-bedroom units. Landlords exploring the option of short-term rentals will typically be able to command a higher price for their furnished units. For renters, this difference in price indicates that you’ll probably need to pay more if you aren’t moving with your own furniture.
Neighbourhood breakdown
Montreal’s most and least expensive neighbourhoods had very different average rent prices this December. This month, 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. Meanwhile, Downtown Montreal is the most expensive neighbourhood, at an average of $1,763 per month – $354 more than in Ahuntsic-Cartierville.
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 Montreal had the most expensive average rent prices for all types of units this month except for furnished three-bedroom units.
- Prices fell for one-, two- and three-bedroom unfurnished units in Downtown Montreal.
- Ahuntsic-Cartierville had the least expensive one-, two-, and three-bedroom unfurnished units to rent this December.
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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Subscribe to receive these monthly updates on the Vancouver rental market. Discover last month’s Rent Reports below:
November 2023 Metro Vancouver Rent Report
November 2023 Toronto Rent Report
November 2023 Calgary & Edmonton Rent Report
November 2023 Montreal Rent Report
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