After years of intense competition, Canada’s rental market entered a stabilization phase in 2026. National vacancy rose to 3.1%, immigration declined 18% year-over-year, and landlords increasingly turned to incentives — reflecting easing pressure on renters.

But beneath the surface, new risks may be emerging.

While rental conditions feel more balanced today, housing-start activity has weakened in key urban markets, particularly in high-rise supply. Combined with rising project cancellations and multi-year development timelines, today’s slowdown in construction could risk creating a renewed supply shortfall within the next two to three years.

The liv.rent 2026 Rental Market Trend Report examines this pivotal transition. Drawing on proprietary listing data, a survey of 750+ landlords and renters, and research from CMHC, the Bank of Canada, and Statistics Canada, the report analyzes rent trends, migration shifts, construction activity, and forward-looking supply risks across Canada’s major markets.

Download the full 2026 Rental Market Trend Report for deeper insights into how cooling demand, shifting migration patterns, and weakening housing starts may shape the next phase of Canada’s rental market..

Here is a look at some of the key findings in the full 2026 liv.rent Rental Market Trend Report:

Canada overview

Immigration slows sharply in 2025​

• After rebounding post-COVID, immigration dropped significantly in 2025, falling 18% year-over-year — the largest annual decline on record.
• Nearly every province saw double-digit decreases, showing that the slowdown was widespread across the country.
• This decline reflects the federal government’s updated Immigration Levels Plan, which signals a more cautious approach to population growth.

Ontario and B.C.​ account for nearly 70% of Canada’s emigration

• Emigration in 2025 were heavily concentrated in Ontario and British Columbia, which together accounted for nearly 70% of all emigrants nationwide. ​​
• British Columbia recorded one of the largest year-over-year increases in emigration (+32%).

Fewer Canadians moving between provinces

• Interprovincial migration (people moving between provinces) also slowed in 2025, declining 6% year-over-year.
• Alberta attracted strong inflows, with 65,573 people moving in, though less than previous years.
• Ontario saw the most people leave, with 76,652 residents moving out.
• Overall, mobility across Canada is cooling.
  

Canada sees record emigration – biggest exodus in a decade

• 11 of 13 provinces and territories post double-digit year-over-year increases in residents leaving the country.
• In 2025, 95,733 Canadians emigrated out of the country, up 17% from 2024 and the highest level since 2011.

British Columbia

B.C. stays as Canada’s third most sought-after province in Canada for immigrants​​

• The province attracted 13% of Canada’s immigrants, trailing Quebec at 15% and Ontario at 43%.
  
  

After a decade ​of growth, B.C.’s population reverses course​

• For the first time since 2012, British Columbia posted negative population growth in 2025, alongside Ontario as the only provinces to decline.

B.C. among four provinces to see decline in housing starts

• Housing starts in British Columbia fell 5% year-over-year in 2025, making it one of only four provinces to record a decline.

Metro Vancouver rents decline amid rising emigration​​​

• Metro Vancouver began experiencing steeper downward pressure on rents in August 2025, coinciding with a 50% increase in emigration from B.C. in Q3 compared to Q2.

Alberta

Alberta’s migration boom is cooling after years of strong growth

• The pace of inflows has slowed markedly, with the number of Canadians moving to the province down 16% year-over-year—from 77,761 in 2024 to 65,573.

Alberta drops to third nationally in housing starts​​

• Alberta’s growth was driven primarily by apartments, with starts up 29%, while single-family construction declined 4%.

Following growth in 2024, Calgary rents reversed course in 2025

• Calgary rents declined year-over-year across all unit types in 2025, with two-bedroom units recording the steepest drops.

Ontario

Ontario fuels ​Canada’s emigration as departures hit a new high​

• 2025 set a new record, with 44,758 people leaving the province, a 14% year-over-year increase. Ontario continues to lead Canada in emigration, accounting for 47% of all departures nationwide.

Ontario housing supply hit by ​double-digit drop in construction starts​

• Housing starts in Ontario fell 17% year-over-year in 2025, with declines recorded across all housing types, including a 9% drop in apartment construction.

Toronto rents fall everywhere​​

• Toronto’s rental price decline in 2025 was driven by widespread softening across all neighbourhoods, affecting both furnished and unfurnished units.​

Nova Scotia

Nova Scotia trails only Alberta in interprovincial migration gains

• Nova Scotia ranked second only to Alberta in interprovincial migration gains in 2025, posting a net increase of 2,446 residents.

Nova Scotia ramps up housing starts, ​but completions ​lag demand​

• Housing starts in Nova Scotia rose to 8,732 in 2025, ranking the province fifth nationally and matching Quebec’s pace of growth.

Quebec

Emigration accelerates, offsetting stable immigration

• Emigration from Quebec rose sharply in 2025, increasing 21% year-over-year to 12,691 people, marking the province’s highest level since 2017 and outpacing the national increase.

Quebec leads Canada in housing starts

• Quebec emerged as one of Canada’s strongest housing markets in 2025, with housing starts jumping 32% year-over-year.
  
  

Montreal rents surge above 2024 levels, then plunge after August

• Despite broader downward pressure on rental prices, Verdun and Westmount recorded consistent year-over-year rent increases across most unit types.

Landlords-Renters: Divided Opinions

As an added bonus, we surveyed more than 750 renters and landlords to understand their perspectives on today’s rental landscape and the evolving role of AI.

• Nine in ten renters believe landlords are profitable​.
• 43% landlords report that current rents do not cover expenses.​
• Only one in six renters and landlords use AI​.

Download the full report to view all of the in-depth insights.

Data Collection Methodology

The 2026 liv.rent Rental Market Trend Report uses data from liv.rent listings, as well as data manually collected from other popular rental listing platforms. Our methodology focuses exclusively on current asking rent prices. Unlike some government reports that include data for entire buildings (which may include long-term rent-controlled units), our analysis reflects real-time market conditions and active listing prices.

For influencing market factors, liv.rent references data from trusted sources such as Statistics Canada, Canada.ca, and CMHC, along with relevant reporting from established Canadian media outlets.

For more information on our data collection methodology, including what types of rental housing we look at, please consult the full reports.

Download the free 2026 liv.rent Rental Market Trend Report here for complete information on average rent prices and driving factors for B.C., Ontario, Alberta, and Quebec.

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive the latest tenant & landlord tips and get notified about changes in the Canadian rental market.

>> Stay up-to-date on the average rent in Vancouver, Toronto and Montreal: Rent Reports.

The post 2026 Canada Rental Market Trend Report appeared first on liv.rent blog.

• YoY Unfurnished One-Bedrooms Show Signs of Cooling
  • Montreal’s one-bedroom unfurnished rents fell 7.6% year over year, led by sharp declines in Plateau Mont-Royal (–14.3%), Westmount (–13.5%), and Verdun (–12.7%), signaling a cooling rental market in premium neighborhoods.
    
• Downtown & Villeray See Small Gains While Plateau Mont Royal and Verdun Slip
  • From December 2025 to January 2026, slight gains where seen in Downtown (+1.7%) and Villeray (+2.9%), while Plateau Mont-Royal (–4.0%) and Verdun (–2.9%) saw modest declines.
    
• Larger Apartments See Uptick Across Montreal
  • Three-bedroom unfurnished units are seeing a rebound across all neighbourhoods, with an overall average rent of $2,498 in January, up 3.3% month over month. The biggest increases were in Villeray – Parc-Extension ($2,200, +7.3%), Verdun ($2,234, +5.3%), and Hochelaga-Maisonneuve ($2,158, +4.1%)
    

liv.rent’s 2025 Canada Rental Market Trend Report is now live! Explore the latest rental trends across Canada, uncover key factors driving price changes, and gain exclusive insights into how landlords and renters perceive the market nationwide. Download your copy here.

Average rent across Montreal

This month, the average rent price for an unfurnished one-bedroom unit has decreased by $17, bringing Montreal’s city-wide average rent to $1,603/month, still well below rates in other major Canadian rental markets like Metro Vancouver and Toronto. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished one-bedroom unit is $132 less than what it was in January 2025.

Month-to-month rent change

Looking at both furnished and unfurnished units, there were some notable changes in rental rates across Montreal neighbourhoods this month.

Looking first at unfurnished one-bedroom units, there was an increase in month-to-month rent prices in Villeray-Parc-Extension (2.92%), while Plateau Mont-Royal (-4.00%) saw the most notable decline.

Looking at furnished one-bedroom units, average rent prices saw an increase in Saint Henri (2.39%) and Downtown (2.28%), with Verdun (-8.81%) seeing the largest decrease.

Montreal unfurnished vs furnished rent averages

This January, average monthly rent prices for furnished and unfurnished one-bedroom units decreased. Unfurnished one-bedroom units decreased (-1.00%) to $1,603/month, while one-bedroom furnished units decreased (-1.10%), renting for an average of $1,651/month.

Looking for our full January 2026 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 significantly different average rent prices this January. This month, Hochelaga-Maisonneuve is cheapest neighbourhood to rent in at an average of $1,410/month for an unfurnished one-bedroom unit. Meanwhile, Downtown is the most expensive neighbourhood for an unfurnished one-bedroom, at an average of $1,860/month – $450 more than in Hochelaga-Maisonneuve.

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.

• All unfurnished three-bedroom rent prices across Montreal neighbourhoods increased except for Ahuntsic-Cartierville and Saint Henri.
• All unfurnished one-,two-, and three-bedroom rent prices in Downtown Montreal increased.
• Rent prices for unfurnished one-, and two-bedroom units decreased in The Plateau Mont-Royal.

Be sure to subscribe to our mailing list so you never miss an update on the Montreal rental market.

Downloadable Resources

Data collection methodology

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s Rent Reports below:

Vancouver Rent Report
Ontario Rent Report
Montreal Rent Report
Calgary and Edmonton Rent Report

The post January 2026 Montreal Rent Report appeared first on liv.rent blog.

• Montreal one-bedroom rents show mixed trends in December 2025
  • Unfurnished units averaged $1,620/month, with gains in Ahuntsic–Cartierville and Saint-Henri but sharp drops in Westmount and Villeray–Parc Extension. Furnished units rose to $1,669/month, led by Villeray–Parc Extension and Hochelaga-Maisonneuve, while Downtown, Saint-Laurent, and Ahuntsic–Cartierville declined.
    
• Montreal one-bedroom rents decline YoY, with select neighborhoods seeing gains
  • Unfurnished one-bedroom rents fell -6.4%, driven by steep declines in Westmount and Villeray–Parc Extension, with slight increases in Saint-Laurent and Ahuntsic–Cartierville. Furnished rents dropped -6.9%, with the largest decreases in Hochelaga-Maisonneuve, Downtown, and Verdun, while Plateau-Mont-Royal and Villeray–Parc Extension saw minor gains.
    
• Montreal unfurnished larger units show notable December movements
  • Ahuntsic–Cartierville and Saint-Henri two-bedroom units rose strongly, along with Westmount three-bedroom units, while Saint-Henri and Villeray–Parc Extension three-bedroom units declined.
    

liv.rent’s 2025 Canada Rental Market Trend Report is now live! Explore the latest rental trends across Canada, uncover key factors driving price changes, and gain exclusive insights into how landlords and renters perceive the market nationwide. Download your copy here.

Average rent across Montreal

This month, the average rent price for an unfurnished one-bedroom unit has decreased by $9, bringing Montreal’s city-wide average rent to $1,620/month, still well below rates in other major Canadian rental markets like Metro Vancouver and Toronto. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished one-bedroom unit is $111 less than what it was in December 2024.

Month-to-month rent change

Looking at both furnished and unfurnished units, there were some notable changes in rental rates across Montreal neighbourhoods this month.

Looking first at unfurnished one-bedroom units, there was a notable increase in month-to-month rent prices in Ahuntsic-Cartierville (+7.40%), while Westmount (-9.87%) saw the most notable decline.

Looking at furnished one-bedroom units, average rent prices saw an increase in Villeray-Parc-Extension (+10.02%), with Saint-Laurent (-3.29%) seeing the largest decrease.

Montreal unfurnished vs furnished rent averages

This December, average monthly rent prices for furnished one-bedroom units increased while unfurnished one-bedroom units decreased. One-bedroom unfurnished units decreased (-0.55%) to $1,620/month, while one-bedroom furnished units increased (1.72%), renting for an average of $1,669/month.

Looking for our full December 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 significantly different average rent prices this December. This month, Villeray-Parc-Extension is cheapest neighbourhood to rent in at an average of $1,378/month for an unfurnished one-bedroom unit. Meanwhile, Downtown is the most expensive neighbourhood for an unfurnished one-bedroom, at an average of $1,828/month – $450 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.

• All unfurnished three-bedroom rent prices across Montreal neighbourhoods decreased except for Ahuntsic-Cartierville, The Plateau-Mont-Royal, and Westmount.
• All unfurnished one-,two-, and three-bedroom rent prices in Downtown Montreal decreased.
• Rent prices for all types of unfurnished units increased in The Plateau-Mont-Royal.

Be sure to subscribe to our mailing list so you never miss an update on the Montreal rental market.

Downloadable Resources

Data collection methodology

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s Rent Reports below:

Vancouver Rent Report
Ontario Rent Report
Montreal Rent Report
Calgary and Edmonton Rent Report

The post December 2025 Montreal Rent Report appeared first on liv.rent blog.

• Montreal’s rental dip is softer compared to other major cities in Canada
  • Unfurnished one-bedroom rents fell -5.8% year-over-year, a milder drop compared to Vancouver (-7.7%) and Toronto (-7.5%). Notably, certain parts of Montreal are bucking the trend, with Notre-Dame-de-Grâce/Côte-des-Neiges up +8.8% and Saint-Laurent up +6.2%.
    
• Downtown remains one of Montreal’s most stable rental markets despite broader decline
  • While several neighbourhoods saw double-digit year-over-year drops in rent prices, Downtown held firm with less than a 5% decrease — furnished one-bedrooms fell just -3.6%, and unfurnished units slipped -4.6%.
    
• Hochelaga-Maisonneuve sees the steepest rental decline in Montreal
  • Hochelaga-Maisonneuve posted an -18.6% drop in furnished one-bedrooms and an -11.4% decline in unfurnished units. It now stands as Montreal’s most affordable one-bedroom rental market, replacing last year’s leader, Ahuntsic–Cartierville.
    

liv.rent’s 2025 Canada Rental Market Trend Report is now live! Explore the latest rental trends across Canada, uncover key factors driving price changes, and gain exclusive insights into how landlords and renters perceive the market nationwide. Download your copy here.

Average rent across Montreal

This month, the average rent price for an unfurnished one-bedroom unit has decreased by $18, bringing Montreal’s city-wide average rent to $1,629/month, still well below rates in other major Canadian rental markets like Metro Vancouver and Toronto. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished one-bedroom unit is $100 less than what it was in November 2024.

Month-to-month rent change

Looking at both furnished and unfurnished units, there were some notable changes in rental rates across Montreal neighbourhoods this month.

Looking first at unfurnished one-bedroom units, there was a notable increase in month-to-month rent prices in Saint Henri (+5.43%), while Plateau-Mont-Royal (-10.32%) saw the most notable decline.

Looking at furnished one-bedroom units, average rent prices saw an increase in Saint Laurent (+7.27%), with Hochelaga-Maisonneuve (-15.78%) seeing the largest decrease.

Montreal unfurnished vs furnished rent averages

This November, average monthly rent prices for furnished and unfurnished one-bedroom units decreased. One-bedroom unfurnished units decreased (-1.13%) to $1,629/month, while one-bedroom furnished units decreased (-3.94%), renting for an average of $1,641/month.

Looking for our full November 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 significantly different average rent prices this November. This month, Hochelaga-Maisonneuve is Montreal’s cheapest neighbourhood to rent in at an average of $1,416/month for an unfurnished one-bedroom unit. Meanwhile, Westmount is the most expensive neighbourhood for an unfurnished one-bedroom, at an average of $1,849/month – $433 more than in Hochelaga-Maisonneuve.

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.

• All unfurnished two-bedroom rent prices across Montreal neighbourhoods decreased except for Downtown, and Notre-Dame-de-Grâce/Côte-des-Neiges.
• All unfurnished three-bedroom rent prices across Montreal neighbourhoods decreased except for Hochelaga-Maisonneuve, The Plateau-Mont Royal, and Verdun.
• Rent prices for all types of furnished units decreased in Downtown.

Be sure to subscribe to our mailing list so you never miss an update on the Montreal rental market.

Downloadable Resources

Data collection methodology

Rethink The Way You Rent

Not on liv.rent yet? Experience the ease of digital applications & contracts, verified tenants & landlords, virtual tours and more – all on one platform. Sign up for free or download the app.

Subscribe to receive monthly updates on Canada’s major rental markets. Discover last month’s Rent Reports below:

Vancouver Rent Report
Ontario Rent Report
Montreal Rent Report
Calgary and Edmonton Rent Report

The post November 2025 Montreal Rent Report appeared first on liv.rent blog.