How the average rent in Montreal compares to the rest of Canada

Montreal is right in the middle of the pack when it comes to the average apartment and condo rent prices across the country.

According to this month’s rental report courtesy of Rentals.ca and Bullpen Research & Consulting, the average rent across Canada was $1,820 per month as of February, increasing 6.2% annually.

National average monthly rents hit a high of $1,954 in August 2019 and declined to $1,676 in April 2021, before rebounding to the low $1,800s at the beginning of 2022, says Rental.ca.

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In February, Montreal ranked as the 16th most-expensive rental city in the country, with one-bedrooms going for an average of $1,516 and two-bedrooms at $1,994.

Other Quebec cities include Gatineau in 22nd place ($1,400 per month) and Laval in 24th ($1.277) of the 35 Canadian city ranking.

Vancouver and Toronto took home the unenviable first and second spot, respectively, followed by seven other Ontario cities in the top ten and two more BC cities.

Rentals.ca

Year over year, the average monthly February rent for a one-bedroom in Montreal increased by 9% and up 5.3% for two-bedroom homes. Month over month, average rent in Montreal was up 0.1% for a one-bedroom and 0.6% for a two-bedroom.

Over the past three years, the average monthly rent across Quebec has risen dramatically, from $1,209 in 2019 to %1,576 in February 2022.

Rentals.ca says that 39% of its apartment listings so far this year are for one-bedroom units, 32% of listings are for two-bedroom spots, 18% for studios, and 10% for three-bedroom homes.

Overall, the rental market in Canada “continues to trend upward in the post-vaccine pandemic period,” says Ben Myers, the President of Bullpen Research & Consulting, “with continued strength in the market for larger suites.” Myers says rents in British Columbia (specifically Vancouver) and downtown Toronto lead the market recovery, pushing rents up nationally.

The average rental price in Montreal is $500 cheaper than that in Toronto and a difference of $700 monthly, compared to Vancouver.