Rent across Quebec has seen an increase of nearly 15% over the past year, currently hovering at just below $1,630 per month.
The national report from Rentals.ca specifically highlights how rent across the nation decreased 7.1% over the past year, due in large part to the COVID-19 pandemic, but increased in La Belle Province.
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The report says that what’s “even more impressive” is that rent increased across Quebec while the average unit size declined by 11%.
Quebec places third in the country with the highest rent, behind first-place Ontario’s monthly average of $2,090 and British Columbia’s $1,996 median price.
For Montreal, the average monthly rent of one-bedroom apartments increased by 4.6% since December of last year, jumping up to $1,420. Gatineau saw the province’s highest spike of the month, increasing 21% for condos and traditional rental units.
According to Rentals.ca, the increased trend of monthly rental properties will continue to trend across Quebec, even as the COVID-19 pandemic continues to rage on.
“The vaccines rollout appears to be occurring at a slow pace, and the second wave of COVID-19 is showing no signs of slowing either,” says the report. The rental service website says rental rates will “continue to decline” over the next three to four months, whereas Quebec’s trajectory will remain trending upwards.
Lloydminster, Alberta, has the lowest monthly rent in the country, according to Rentals.ca, with one-bedroom places going for a smooth $742.