Montreal is the 17th most expensive Canadian rental city

Jan 18 2022, 4:04 pm

The most recent National Rent Report from Rentals.ca and Bullpen Research and Consulting reveals that, out of 24 cities across the country, Montreal ranks as the 17th most expensive market.

The average rent for Montreal properties in December 2021 was $1,708. This is slightly lower than the average for all Canadian properties, which was $1,789 in December.

Rentals.ca

Montreal came in 17th for average monthly rent in December for a one-bedroom home at $1,507, and 12th for average monthly rent for a two-bedroom at $1,982.

Vancouver and Toronto are at the top of the list. The average rent of $2,519 makes Vancouver the most expensive city to rent in Canada. Toronto saw an average price of $2,266.

The least expensive of Canada’s major cities to rent in is Regina, with an average rental price of $1,014.

Across the country, one-bedroom condo prices increased 9.6% to an average rent of $2,044 per month in the fourth quarter of 2021, while two-bedroom condo rental prices rose to $2,469, an increase of 7.8%.

“Although the real estate market has recovered in the last several months, uncertainty will persist as governments issue further lockdown measures because of the Omicron variant,” reads the report.

Rentals.ca says that the rental market in Canada is returning to levels seen at the start of 2020 but remains $165 below the average peak rent of $1,954 in September 2019.

Al SciolaAl Sciola

+ Montreal Homes
+ Urbanized
ADVERTISEMENT