In the past 12 months, 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 one-bedrooms in Montreal is up 28.7% since this time last year. As of this month, the average rental cost for a one-bedroom unit sits at $1,480. The median for a two-bedroom is $1,710, making Montreal the 15th most expensive Canadian city for median rent prices.
The way things currently stand, Montrealers and Calgarians are paying an identical median price for one-bedroom rentals.
Zumper
Zumper
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Meanwhile, Quebec City held steady at 20th but experienced a large monthly decline, falling 4.5% to $1,050.
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 $3,630 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 6.1% to $2,090, while two-bedrooms grew 5.9% to $2,700
Click here to read the entire Zumper report for October.