Average one-bedroom rent in Montreal is now over $1,500

Nov 15 2021, 8:28 pm

While still nowhere near the exceptionally high rent in other big Canadian cities, like Vancouver and Toronto, Montreal’s rent prices continued to rise last month.

According to Rentals.caĀ and Bullpen Research & Consulting’sĀ latestĀ National Rent Report, year-over-year, the average monthly rent in October for a one-bedroom was up 2.3% and up 2% for a two-bedroom. Month over month, average rents in Montreal in October were up slightly by 0.1% for both a one-bedroom and a two-bedroom.

canada rent november 2021

Rentals.ca

MontrealĀ came in 22nd with an average monthly rent of $1,508 in October for a one-bedroom. The city placed 17th with the average monthly rent for a two-bedroom at $1,920. Vancouver and Toronto once again solidified the top two spots at $2,216 and $2,006, respectively.

rent montreal november

Rentals.ca

The province of Quebec experienced annual rent growth in October of about 1%, but average rent for all property types rose from $1,503 in October 2020 to $1,664 in 2021.

As for the rest of the country, the average rent in Canada in October increased by 1.6% year-on-year to $1,800, which is the first annual percentage increase this year.

The average rent has increased by $31 (or 1.8%) from the previous month and $125 (or 7%) from April.

After a turbulent 2020, rental prices are rising across Canada.

Al SciolaAl Sciola

+ Montreal Homes
+ Urbanized
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT