- Montreal’s city-wide average rent for unfurnished one-bedroom units has risen $14 this June
- It now costs an average of $503 more per month to rent an unfurnished, one-bedroom in Downtown than in Hochelaga-Maissoneuve
- Average rent for unfurnished, one-bedroom units in Saint Henri is up +8.40% this month
Montreal’s average rent prices continue to climb, up another $14 this June. Although not as pronounced as the increases in Vancouver and Toronto, Montreal has established a consistent upward trend since the beginning of the year, aside from a brief dip in March.
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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. This June, prices have risen by $14 for another yearly high of $1,464. Since the large jump in price between January and February, prices have been on a steady incline – up $50 since February. We’ll keep an eye on prices as we head into the busier summer months, but further increases are likely as we approach the warmer season.
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Month-to-month rent change
For the most part, rent prices in Montreal’s various neighbourhoods weren’t nearly as volatile as they have been in previous months. In terms of unfurnished units, Saint Henri (+8.40%), Villeray-Parc-Extension (+8.06%), and Ahuntsic-Cartierville (+3.45%) saw the largest increases in price, while Notre-Dame-de-Grâce (-5.82%), Saint-Laurent (-3.12%), and Westmount (-2.27%) saw the biggest losses.
Most of the major changes for furnished units this month were decreases – Côte-Des-Neiges (-12.72%), Villeray-Parc-Extension (-10.55%), and Ahuntsic-Cartierville (-5.28%). The only gains to note were in Hochelaga-Maissoneuve (+4.80%) and The Plateau-Mont-Royal (+4.02%).
Downtown was typically stable for both furnished and unfurnished units, with small decreases for both. Furnished units declined -2.96% and unfurnished units declined -3.01% this month.
Montreal unfurnished vs. furnished rent averages
Furnished one-bedroom units in Montreal are still more expensive than unfurnished units, by an average of $91 this month. This shows that landlords can still earn a higher profit by renting out a furnished unit, on average – though not by as much as one might expect. For renters, you can still save a bit on rent if you are able to bring your own furniture.
Neighbourhood breakdown
The gap in price between Montreal’s most and least expensive neighbourhoods has widened this may – it now costs $503 more to rent in Downtown than in Hochelaga-Maisonneuve. The former has reclaimed its title as the city’s most expensive neighbourhood this month at $1,695, while Hochelaga-Maisonneuve has been the cheapest for some time now, at $1,192 per month for an unfurnished, one-bedroom unit, on average.
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.
- Two-bedroom, unfurnished units in Hochelaga-Maissoneuve are cheaper than one-bedroom units in The Plateau-Mont-Royal, Saint Henri, Westmount, and Downtown.
- Downtown had the most expensive monthly rent prices for all unit types this month with the exception of two-bedroom, furnished rentals.
- One-bedroom, furnished rentals are cheaper in Côte-des-Neiges than anywhere else in Montreal.
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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. For our Vancouver and Toronto Rent Reports, we look at Craigslist, Kijiji, Zumper, PadMapper, and Realtor.ca – as well as our own listings. For Montreal, we use PadMapper, Centris, and DuProprio, 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 Montreal rental market. Discover last month’s Rent Reports below:
May 2022 Montreal Rent Report
May 2022 Toronto Rent Report
May 2022 Vancouver Rent Report
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