You would be forgiven for thinking that due to the ongoing pandemic, landlords would refrain from raising the cost of rent, but a recent report shows the average rent in the province of Quebec increased by almost 15% from December 2019 to December 2020.
According to Rentals.ca and Bullpen Research & Consulting, the average rent in the province now hovers around $1,630 per month making Quebec the third-highest average rent among all provinces. And surprisingly, of all the cities examined in the report, Gatineau had the biggest increase –a whopping 21.8% annual rise in average monthly prices. Meanwhile, in Montreal, the average monthly rent for one-bedroom apartments increased by 4.6% year-over-year to $1,420 in December.
According to the site’s forecast, that dynamic isn’t going to change in 2021. They’re predicting Montreal will experience a further six per cent increase in rents this year.
The one silver lining here is that even with increases, average rents in Montreal remain lower than those in Toronto where the average rent for a one-bedroom is $1,832, and Vancouver, where a one-bedroom apartment will cost you $1,855 a month.
