At a glance
- Montreal’s city-wide average rent price for an unfurnished, one-bedroom unit has increased by $29, to $1,616 this September.
- The Plateau-Mont-Royal is Montreal’s most expensive neighbourhood to rent in, at an average of $1,787 per month for an unfurnished, one-bedroom unit – $373 more than in Ahuntsic-Cartierville, the city’s cheapest neighbourhood.
- Average rent prices for unfurnished, one-bedroom units increased this month in every Montreal neighbourhood except for Ahuntsic-Cartierville and Verdun.
Looking for our full September 2023 Montreal Rent Report? Download your copy here to get all the latest insights, including a detailed breakdown by neighbourhood.
After back-to-back months of declining average rent prices, Montreal’s city-wide rental rates have rebounded this September. This month, the average monthly rent for an unfurnished, one-bedroom unit has increased by $29, bringing Montreal’s city-wide average rent up to $1,616 for this unit type which is still 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 September 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 September 2023, the average monthly rent price for an unfurnished, one-bedroom unit has risen by $29, to $1,616 per month. This follows average declines in the city’s rent prices in both July and August, and continues the roller coaster trend Montreal’s rental market has seen since the start of the year. Looking at a year-over-year comparison, Montreal’s city-wide rental rate for an unfurnished, one-bedroom unit has increased by $119 since September 2022.
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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 September.
Looking first at unfurnished, one-bedroom units, Côte-des-Neiges (+5.78%), Saint-Laurent (+4.63%), and Villeray-Parc-Extension (+3.68%) saw the largest month-to-month increases. The only significant average decline occurred in Verdun (-6.12%), while Ahunstic-Cartierville (-0.91%) also saw a minor decrease, on average.
Looking at furnished, one-bedroom units, Saint-Laurent (+7.28%), The Plateau-Mont-Royal (+5.57%), and Villeray-Parc-Extension (+4.66%) saw the largest month-to-month increases, while Côte-des-Neiges (-5.44%) and Ahuntsic-Cartierville (-5.34%) had the most notable decreases.
Montreal unfurnished vs. furnished rent averages
As of this September, furnished, one-bedroom units are a good deal more expensive than unfurnished units on average. This month, furnished, one-bedroom units now rent for an average of $141 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 September, Ahuntsic-Cartierville is Montreal’s least expensive neighbourhood to rent in at an average of $1,414 per month for an unfurnished, one-bedroom unit. Meanwhile, The Plateau-Mont-Royal is the most expensive neighbourhood, at an average of $1,787 per month – $373 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.
- Average rent prices for unfurnished, one-bedroom units increased this month in every Montreal neighbourhood except for Ahuntsic-Cartierville and Verdun.
- Average rent prices in Downtown Montreal rose for all listing types except for three-bedroom, furnished units.
- Hochelaga-Maisonneuve had the lowest prices for two-bedroom, unfurnished units this month.
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
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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 – 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:
August 2023 Metro Vancouver Rent Report
August 2023 Toronto Rent Report
August 2023 Calgary & Edmonton Rent Report
August 2023 Montreal Rent Report
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