At a glance
- Montreal’s rental market stays steady with minimal price changes
- Rental prices for unfurnished one-bedroom units have remained stable over the past six months, with just a $34 change between September 2024 and February 2025.
- There’s a $511/month gap between Montreal’s most vs least expensive neighbourhoods
- Villeray-Parc-Extension is Montreal’s cheapest neighbourhood to rent in at an average of $1,522 per month for an unfurnished, one-bedroom unit. Meanwhile, Verdun is the most expensive neighbourhood, at an average of $2,033 per month.
- Verdun rental prices surge this month
- Verdun experienced the highest rent increase for one-bedroom furnished units (+6.00%) in Montreal this February and the second-largest rise for unfurnished units (+6.12%). This jump in price places Verdun as the most expensive neighbourhood to rent in this month.
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Montreal’s city-wide average rent price saw a slight increase this February. This month, the average rent price for an unfurnished, one-bedroom unit has increased by just $11, bringing Montreal’s city-wide average rent to $1,746 – still well below rates in other major Canadian rental markets like Metro Vancouver and Toronto.
Average rent across Montreal
Let’s start by taking a closer look at rental trends over the past six months, plus a year-over-year comparison for unfurnished one-bedroom units in Montreal. This month, the average monthly rent price for an unfurnished, one-bedroom unit has increased by just $11. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished, one-bedroom unit is higher than in February 2024, with prices now $152 more than this time last year.
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Month-to-month rent change
Looking at both furnished & unfurnished units, there were some notable changes in rental rates across Montreal’s different neighbourhoods this month.
Looking first at unfurnished one-bedroom units, Ahuntsic-Cartierville (+8.46%) had the largest month-to-month increase, while Saint Henri (-6.52%) saw the most notable decline.
Looking at furnished one-bedroom units, average rent prices increased the most in Verdun (+6.00%), while Notre-Dame-de-Grâce and Côte-des-Neiges (-7.37%) saw the biggest decrease.
Montreal unfurnished vs furnished rent averages
This February, average monthly rent prices for unfurnished units increased while furnished rates decreased. Furnished units decreased by (-0.46%) renting for an average of $1,714/month. Unfurnished units rose by (+0.61%) renting for an average of $1,746/month.
Looking for our full February 2025 Montreal Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
Neighbourhood breakdown
Montreal’s most and least expensive neighbourhoods had vastly different average rent prices this February. This month, Villeray-Parc-Extension is Montreal’s cheapest neighbourhood to rent in at an average of $1,522 per month for an unfurnished, one-bedroom unit. Meanwhile, Verdun is the most expensive neighbourhood, at an average of $2,033 per month – $511 more than in Villeray-Parc-Extension.
Let’s look even closer at the different listing types to see the differences in one-, two-, and three-bedroom rental rates across each area.
- Rent prices increased for all types of unfurnished units in Verdun and The Plateau-Mont-Royal while prices increased for all types of furnished units in Downtown Montreal.
- Downtown is the most expensive for one- and three-bedroom furnished units while Verdun is the most expensive for two-bedroom furnished units.
- Prices increased for two-bedroom furnished units in all areas except Villeray-Parc-Extension this month.
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:
June 2024 Metro Vancouver Rent Report
June 2024 Toronto Rent Report
June 2024 Calgary & Edmonton Rent Report
June 2024 Montreal Rent Report
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