March 2022 Montreal Rent Report

For March 2022, Montreal’s rental averages have tapered off after a massive $114 increase between January and February. Average rent prices fell dramatically in many Montreal neighbourhoods, particularly those that increased in price last month, like 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 $1,393 for March 2022. It remains to be seen whether this slight drop signals a return to previous levels, or if this is just a cooling-off period before prices continue to climb.

Month-to-month rent change

March’s rental averages largely decreased across Montreal’s various neighbourhoods, after February’s steep increases, although there were some notable outliers as well. In terms of unfurnished units, Verdun (+17.50%) and Côte-des-Neiges (+12.74%) saw the largest increases, while Westmount (-11.54%) and The Plateau-Mont-Royal (-7.08%) led the city’s aggregate decline in price.

For furnished units on the other hand, the most pronounced declines were in Saint Henri (-17.63%) and Villeray-Parc-Extension (-14.16%), while the biggest increases were in Côte-des-Neiges (+12.63%) and Saint-Laurent (+9.48%).

Downtown recovered the declines in its rental averages last month, gaining +4.05% for furnished units and +5.83% for unfurnished ones for the month of March.

Montreal unfurnished vs. furnished rent averages

Furnished one-bedroom units are, as expected, more expensive than unfurnished units by an average of $94 this month. Though the price difference may have narrowed slightly recently, 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

Montreal’s most and least expensive neighbourhoods now differ in price by $444 on average for an unfurnished one-bedroom unit. Downtown is once again the city’s most expensive neighbourhood at $1,620 while Hochelaga-Maisonneuve has become the cheapest to rent in this month, at $1,176 for March 2022.

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.

• In Villeray-Parc-Extension, three-bedroom unfurnished units cost less than two-bedroom ones on average, by $103.
• Westmount is by far the most expensive neighbourhood for two-bedroom, unfurnished units at an average of $2,630.
• Three-bedroom, unfurnished units in The Plateau Mont-Royal are only $284 more expensive than two-bedroom units.

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

February 2022 Montreal Rent Report
February 2022 Toronto Rent Report
February 2022 Vancouver Rent Report