Rent report: Unfurnished units up nearly 10% in some Montreal areas

Mar 17 2023, 6:17 pm

It’s been a tough month for renters across Montreal.

According to the latest report by liv.rent, average prices for an unfurnished, one-bedroom unit have risen by $45 this month, continuing a “gradual upward trend” that began in December. Certain areas in particular have seen substantial rent hikes since February.

For example, Verdun (+9.96%) and Hochelaga-Maisonneuve (+9.64%) saw the most significant monthly increases for unfurnished units, followed by The Plateau-Mont-Royal (+7.00%) and Villeray-Parc-Extension (+6.26%).

average rent by listing type for unfurnished units in Montreal for the March 2023 liv rent report

To put things into perspective, Montreal’s city-wide rental rates for an unfurnished, one-bedroom unit are up $225 since March 2022.

On the less expensive side, one can rent an unfurnished, one-bedroom unit in Ahuntsic-Cartierville for about $1,379 per month. That same apartment downtown is now going for an average of $1,875 a month — a difference of $496.

Unsurprisingly, downtown had the most expensive rental rates for one- and two-bedroom unfurnished units this month.

liv.rent

Things are not all bad, though. According to data from liv.rent, the price of furnished units actually went down over the past month aside from a few notable exceptions in areas like Côte-Des-Neiges (+15.60%) and The Plateau-Mont-Royal (+6.78%).

The math in the rent report shows that furnished units on the island now rent for an average of $56 more than their unfurnished counterparts.

As of now, the average one-bedroom in the city should set you back between $1,600 and $1,700.

Click here to read the entire liv.rent report.

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