As February comes and Montreal continues to slumber its way through the winter, 2021 so far looks a lot like 2020. There might be some light around the corner as early in February, some regions of the province start to shift their restrictions. But so far it’s same-old, same-old.
Let’s keep that light at the end of the tunnel in our hearts as we dive into the numbers and see Montreal’s average rent prices for February.
We made a full report based on data that we’ve gathered from our own liv.rent platform plus other listings websites. This month’s report shares key data and trends going on right now in the Montreal rental market. Both landlords and tenants can use it to make informed rental decisions moving forward.
Jump to the following Rent Report sections:
Complete February 2021 Montreal Rent Report: Download Here
Montreal Rent Trends
The numbers collected this month come as Quebec renews measures to control an aggressive second wave of COVID-19. Looking at a 6 month period beginning in September, Montreal has experienced significant downward pressure on rental rates, falling farther below the stabilization of January.
>> Recommended Reading: [2020] Renting In Canada – What $1800 Gets you Across Canada
Month-to-Month Rent Change
Below we show the percentage change in average rent from January to February’s figures. February numbers continue to show volatility with the largest decrease for unfurnished rental rates occurring in St. Laurent – a 12.98% drop. Meanwhile, furnished rates recovered mostly only in Notre-Dame and Cote-des-Neiges, by 5.38% and 3.71% respectively .
Montreal Unfurnished vs. Furnished Rent Averages
The average rent in Montreal for an unfurnished one-bedroom apartment in February is $1,195, down from January’s $1,213. The average cost of a furnished rental has remained static at $1,455.
>> Recommended Reading: Feature Update: View Rental Listings Online With Video Tours
Neighbourhood Breakdown
The Montreal neighbourhood of Ahuntsic-Cartierville had the lowest average rent in the region with a 1 bedroom, unfurnished unit costing $950, down from last month’s $1008, while rents Downtown were highest at $1,521 – up from last month’s $1,458.
To assist you in your rental decision, here is a breakdown of rental averages across other Greater Montreal neighbourhoods, comparing 1, 2, and 3 bedroom rates for both unfurnished and furnished listings across each neighbourhood.
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Downloadable Resources
Looking for the full report? Download it for free here.
Complete February 2021 Montreal Rent Report: Download Here
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November 2021 Vancouver Rent Report
November 2021 Toronto Rent Report
November 2021 Montreal Rent Report
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COVID-19 Resources
For information regarding Coronavirus (COVID-19) and landlords and tenants, refer to our comprehensive resource posts. They include information on the various federal and provincial assistance initiatives available to help support landlords (small business relief) and tenants (rent relief):
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