- Average monthly rent in Montreal has increased by a slight $14 this November, to a new average of $1,555 for an unfurnished, one-bedroom unit.
- In Downtown Montreal, the average price for an unfurnished, one-bedroom unit rose by 11.07% month-to-month.
- Ahuntsic-Cartierville is now the least expensive place to rent in Montreal, with an unfurnished, one-bedroom unit now renting for an average of $1,297 per month.
The slower winter renting months are now upon us, yet Montreal’s average rent prices remain high this November, with a moderate month-to-month increase. Typically November sees the start of a seasonal downward trend, however, Metro Vancouver is also seeing higher than usual prices while Toronto saw a slight decline in average monthly rent, signalling that this year could break from patterns we’ve seen in the past.
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This monthly rent report complete with liv.rent data and information collected from top listing sites shows the most accurate reflection of the true cost of rent in Montreal. Download and read the full report below to learn more.
Jump to the following Rent Report sections:
Average rent across Montreal
Let’s start by taking a closer look at rental trends over the past six months for an unfurnished one-bedroom apartment in Montreal. This November, prices have risen by a slight $14, marking another yearly high. Though unusual for this time of year, this mirrors a similar relentless upward trend in Metro Vancouver, likely fueled by competition for rental units and continually rising interest rates in Canada.
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Month-to-month rent change
Across Montreal’s individual neighbourhoods, both furnished and unfurnished units experienced notable volatility this November.
For unfurnished units, Downtown saw the most significant increase (+11.07%), while Saint-Laurent (+8.86%) and Côte-des-Neiges (+7.43%) weren’t far behind. Notable declines occurred in Ahuntsic-Cartierville (-10.24%) and Villeray-Parc-Extension (-5.23%), while in The Plateau-Mont-Royal, average monthly rent increased by 4.82% this November.
Furnished units were equally unpredictable this October, with a number of significant increases and declines. Côte-des-Neiges (+14.94%) was once again a standout figure, while Westmount (+16.16%) also saw a large-scale increase this month. Villeray-Parc-Extension (-20.39%), Notre-Dame-de-Grâce (-9.82%) and Saint-Laurent (-9.04%) also declined in price this November.
Montreal unfurnished vs. furnished rent averages
Furnished units were once again considerably more expensive than unfurnished ones in Montreal this November. As of this month, furnished units now rent for an average of $80 more than unfurnished ones. This shows that landlords can still earn a higher profit by renting out a furnished unit, and can also attract different renter demographics such as students and those looking for short-term rentals. For renters, you will still typically see savings if you are able to bring your own furniture.
Neighbourhood breakdown
Montreal’s most and least expensive neighbourhoods had very different average rent prices this month. For November, Ahuntsic-Cartierville has become Montreal’s least expensive neighbourhood to rent in at an average of $1,297 per month for an unfurnished, one-bedroom unit, while Downtown remains its most expensive at $1,886 — a $589 difference.
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.
- Downtown had the most expensive one-, two-, and three-bedroom unfurnished units this month.
- The least expensive two-bedroom, unfurnished units can be found in Hochelaga-Maisonneuve this month, renting for an average of $1,539.
- Furnished, three-bedroom units in Saint Laurent were less expensive than two-bedroom units, on average.
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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:
October 2022 Montreal Rent Report
October 2022 Toronto Rent Report
October 2022 Metro Vancouver Rent Report
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