At a glance
- Montreal’s city-wide average rent price for an unfurnished, one-bedroom unit has decreased by $10, to $1,587/month.
- The city’s average monthly rate for a one-bedroom, unfurnished unit has only increased by $32, or 2.06%, since November 2022.
- Downtown Montreal had the most expensive one-, two-, and three-bedroom, unfurnished units this month.
Looking for our full November 2023 Montreal Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
As temperatures continue to plummet and demand cools off, Montreal’s city-wide rental rates have decreased for the second consecutive month. This month, the average monthly rent for an unfurnished, one-bedroom unit has fallen by $10, bringing Montreal’s city-wide average rent to $1,587 for this unit type which is well below rates in other major Canadian rental markets like Metro Vancouver and Toronto.
We’ve published our 2022 Canada-wide Annual Rent Report with even more rental data and statistics, including overarching trends and predictions for the year ahead. You can download your copy here.
Looking for our full November 2023 Montreal Rent Report? Download your copy below to get all the latest insights.
Average rent across Montreal
Let’s start by taking a closer look at rental trends over the past six months, as well as a year-over-year comparison for unfurnished, one-bedroom units in Montreal. For November 2023, the average monthly rent price for an unfurnished, one-bedroom unit has fallen by $10, which sees rates return to the same level as in August, prior to the busy back-to-school renting season. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished, one-bedroom unit has increased by just $32 since November 2022.
Is your rental priced competitively?
Find out with a free rent estimate. Our team of rental experts will calculate your unit’s true value based on your listing details & current market trends.
Month-to-month rent change
In terms of both furnished & unfurnished units, there were a few notable changes in rental rates across Montreal’s different neighbourhoods this November.
Looking first at unfurnished, one-bedroom units, Hochelaga-Maisonneuve (+10.16%) stands out as the largest month-to-month increase, while Saint Henri (+3.30%), Ahuntsic Cartierville (+2.38%), and Verdun (+1.87%) also saw average rent prices increase this November. Côte-des-Neiges (-9.78%) and Villeray-Parc-Extension (-5.87%) each saw substantial average declines in their rental rates this month.
Looking at furnished, one-bedroom units, average rent prices increased by a notable amount in Westmount (+4.74%), Côte-des-Neiges (+3.28%), and Saint-Laurent (+2.97%), while substantial decreases occurred in Hochelaga-Maisonneuve (-7.75%) and The Plateau-Mont-Royal (-6.99%).
Montreal unfurnished vs. furnished rent averages
As of this November, furnished, one-bedroom units continue to rent for considerably more than unfurnished, one-bedroom units on average. This month, furnished, one-bedroom units now rent for an average of $134 more than unfurnished, one-bedroom units. Landlords exploring the option of short-term rentals will likely be able to command a higher price for their furnished units. For renters, this difference in price indicates that you’ll probably need to pay slightly more if you aren’t moving with your own furniture.
Neighbourhood breakdown
Montreal’s most and least expensive neighbourhoods had very different average rent prices this month. This November, Ahuntsic-Cartierville is Montreal’s least expensive neighbourhood to rent in at an average of $1,365 per month for an unfurnished, one-bedroom unit. Meanwhile, Downtown Montreal is the most expensive neighbourhood, at an average of $1,797 per month – $432 more than in Ahuntsic-Cartierville.
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 Montreal had the most expensive one-, two-, and three-bedroom, unfurnished units this month.
- Also in Downtown, average rent prices for all types of listings except for unfurnished, two-bedroom units fell this month.
- Ahuntsic-Cartierville had the least expensive one- and two-bedroom, unfurnished units while only Saint Henri had lower prices for three-bedroom, unfurnished units.
Is your rental priced competitively?
Find out with a free rent estimate. Our team of rental experts will calculate your unit’s true value based on your listing details & current market trends.
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Downloadable Resources
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 – 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 Vancouver rental market. Discover last month’s Rent Reports below:
October 2023 Metro Vancouver Rent Report
October 2023 Toronto Rent Report
October 2023 Calgary & Edmonton Rent Report
October 2023 Montreal Rent Report
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