Rent prices for two-bedroom apartments in Montreal are 10% higher than last year

Nov 15 2022, 8:47 pm

Over the past year, rental rates have steadily risen in Montreal. And while the cost of living is still pretty far from what you’ll find in Vancouver and Toronto, it’s nowhere near cheap.

According to the latest national rental report from Zumper, the price of a two-bedroom apartment in Montreal is now 10% more expensive than it was last year.

As of this month, the average rental cost for a one-bedroom unit sits at $1,470. The median for a two-bedroom has climbed to $1,800, making Montreal the 17th most expensive Canadian city for median rent prices.

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Meanwhile, Hamilton saw the fastest-growing rent, jumping 6.1% last month, and Windsor experienced the largest rent price decline, falling 2.2%.

Looking at the rest of the country, unsurprisingly, Vancouver is still the most expensive city to rent in Canada. The BC city now has a median rental price of $2,500 and $3,500 for one- and two-bedrooms, respectively. Two-bedroom units are up a whopping 25% in just 12 months.

Toronto, a distant second for national rent, saw one-bedroom rent jump to $2,130, while two-bedrooms grew 1.5% to $2,680

Click here to read the entire Zumper report for November.

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