February 2022 Montreal Rent Report

For February 2022, Montreal’s rental averages have once again made massive moves upwards, with a $114 increase from last month. For both furnished and unfurnished units, the majority of Montreal neighbourhoods saw massive upward trends, like Notre-Dame-De-Grâce and Villeray-Parc-Extension.

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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. Download and read the full report below 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. Continuing the steep upward trend that began in January, Montreal’s average rent has climbed to $1,414 for February 2022. This may be the beginning of a continued climb for the city’s rental averages, so both renters and landlords will need to keep an eye on these rates throughout the next few months.

Month-to-month rent change

February sees major price increases for the vast majority of Montreal neighbourhoods. Côte-des-Neiges was perhaps the most significant (+45.72% for furnished units, +8.52% for unfurnished ones), but Notre-Dame-de-Grâce saw equally notable numbers (+23.41% for furnished, +22.88 for unfurnished).

Downtown was one of the few neighbourhoods that saw comparatively little change, with furnished units increasing +0.83% and unfurnished units falling -4.78%.

Montreal unfurnished vs. furnished rent averages

With fairly evenly matched increases in the price of furnished units vs. unfurnished ones, the difference in price remains relatively the same – with furnished units now, on average, $94 more expensive than unfurnished units.

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 hasn’t changed much, at a $433 difference for an unfurnished one-bedroom unit. The Plateau-Mont-Royal has become the most expensive Montreal neighbourhood for February 2022, while Côte-des-Neiges reclaims its spot as the most affordable, at $1,202.

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.

• Villeray-Parc-Extension has the most affordable unfurnished, three-bedroom units at $1,907
• Downtown has become the second-most expensive Montreal neighbourhood, with one-bedroom, unfurnished units now averaging $1,530 per month.
• Furnished, one-bedroom units in Saint-Laurent are now renting for an average of just $1,156 this month.

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

January 2022 Montreal Rent Report
January 2022 Toronto Rent Report
January 2022 Vancouver Rent Report