Rent report: Average two-bedroom in Montreal now going for almost $2K

Sep 15 2022, 8:36 pm

While Montreal’s rent prices still don’t crack the national top 10, they are steadily rising — especially for two-bedroom apartments.

According to the latest national rental report from Zumper, the average rental cost for a two bedroom unit on the island rose to $1,980 this month. That’s an increase of 1.5% over the last month, making Montreal the 15th most expensive Canadian city for median rent prices.

Zumper

Zumper

As for one-bedroom apartments, things have remained steady since last month at $1,450. That is a 7.40% increase from last year nonetheless. The way things currently stand, Montrealers and Calgarians are paying an identical median price for one-bedroom rentals.

Meanwhile, Quebec City held steady at 20th but saw one-bedroom rent increase 2.8% last month, bringing it to $1,100.

Looking at the rest of the country, unsurprisingly Vancouver is still the most expensive city to rent in Canada. The BC city reached a new high of $2,500 for the median rent for a one-bedroom, which marks a 4.20% month-over-month increase and a 19% year-over-year increase.

Toronto, a distant second for both one-bedroom and two-bedroom rent, is actually seeing median rent rates decline, dipping below $2,000 per month ($1,980) for the first time in a long while.

Click here to read the entire Zumper report for September.

With files from Daily Hive’s Amir Ali

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