January 2022 Montreal Rent Report

To begin 2022, Montreal’s rental averages have skyrocketed from their December levels. Reaching $1300 for an unfurnished one-bedroom unit, this month’s price increases were driven by soaring rental rates in The Plateau-Mont-Royal, as well as Ahuntsic-Cartierville. There were a number of interesting declines in key areas, which we’ll continue to monitor throughout this 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. Download and read the full report below to learn more.

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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. To begin the year, Montreal’s rental averages have soared to $1,300, up $64 from December. Montreal’s rent had been on the rise for months before taking a sharp downturn in December, so January looks to see a return to form.

Month-to-month rent change

January brings huge price increases in some areas, and sharp declines in others. Downtown is one of the few neighbourhoods to have held fast (+0.09% for furnished units, +4.32% for unfurnished), even after December’s precipitous drops.

Montreal’s other neighbourhoods saw plenty of rental price action this month, with The Plateau-Mont-Royal experiencing the biggest increases in rent, at +23.33% for furnished units, and +10.94% for unfurnished ones. Côte-des-Neiges had some significant drops, with furnished units declining -34.32%, while unfurnished units fell -6.38%.

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, $146 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 $536 difference for an unfurnished one-bedroom. Downtown retains its spot as the most expensive Montreal neighbourhood for January, while Côte-des-Neiges is replaced by Hochelaga-Maisonneuve for least expensive this month.

Let’s look more at the different listing types to see the differences in one, two, and three-bedroom rental rates across each area.

• Furnished one-bedroom units in Côte-des-Neiges can now be had for an average of just $872 this January.
• The Plateau-Mont-Royal now has the most expensive one-bedroom and two-bedroom furnished units, at $1,908 and $2,392, respectively.
• Three-bedroom unfurnished units in Villeray-Parc-Extension are cheaper than two-bedroom unfurnished units, on average.

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

December 2021 Vancouver Rent Report
December 2021 Toronto Rent Report
December 2021 Montreal Rent Report