The cost of renting an apartment in Montreal has been a hot topic of debate recently, and a new report looks to shed some light on just how expensive rent is in our city.
According to liv.rent, Montreal did see a slight decrease in average prices since the beginning of the COVID-19 pandemic but now it seems rent is starting to go up yet again.
The report looks at the average rent price in nine Montreal neighbourhoods, average rates by listing type, and more. And according to the results, the report points to an upward trend into 2020 following a fourth-quarter low in rental rates in 2019.
The average rent in Montreal for an unfurnished one-bedroom apartment in January was $1,403 up slightly from December’s $1,399. The average cost of a furnished apartment remained the same as December at $1,715.
The report also shows a breakdown of rental averages across other Greater Montreal neighbourhoods. Comparing 1-, 2-, and 3-bedroom rates for both unfurnished and furnished listings across each neighbourhood.
Take a look at the following graphs...
Source: Liv.rent
Source: Liv.rent
What’s also interesting is another report published earlier this month in the Montreal Gazette which listed the most expensive neighbourhoods in Montreal to rent one-bedroom, two-bedroom, and three-bedroom apartments in 2021.
The results are as follows:
The most expensive neighbourhoods to rent one-bedroom apartments in 2021, on average:
Ville-Marie Est — $1,479
Sud-Ouest — $1,365
Nuns’ Island — $1,355
Pointe-Claire — $1,312
Mont-Royal — $1,286
Westmount — $1,256
Plateau-Mont-Royal — $1,192
Outremont — $1,181
Beaconsfield-Kirkland — $1,151
Chomedey — $1,124
The most expensive neighbourhoods for two-bedroom apartments in 2021, on average:
Westmount — $1,797
Nuns’ Island — $1,787
Pointe-Claire — $1,691
Mont-Royal — $1,674
Outremont — $1,581
Sud-Ouest — $1,569
Plateau-Mont-Royal — $1,534
Ville-Marie Est — $1,443
Dollard-des-Ormeaux — $1,432
Côte-Saint-Luc/Montreal West — $1,415
The most expensive neighbourhoods for three-bedroom apartments in 2021, on average:
Westmount — $2,382
Mont-Royal $2,224
Outremont — $2,001
Beaconsfield-Kirkland — $1,869
Nuns’ Island — $1,837
Côte-Saint-Luc/Montreal West — $1,836
Plateau-Mont-Royal — $1,827
Hampstead/Côte-Saint-Luc — $1,826
Notre-Dame-de-Grâce — $1,648
Pointe-Claire — $1,641
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According to the Montreal Gazette, across all 92 areas of the Greater Montreal region, the average prices for apartments are $926 for a one-bedroom, $1,155 for a two-bedroom, and $1,359 for a three-bedroom apartment.
