Rent prices in Montreal are expected to rise according to reports

Sep 14 2021, 10:23 am

Are all these rising rent prices normal? New statistics on the matter may give us a clearer picture.

For the fourth consecutive month, the average rent in Canada has increased for all property types, according to the latest National Rent Report by Rentals.ca and Bullpen Research & Consulting.

Montreal came in twenty-first place for average monthly rent in August for a one-bedroom home at $1,461. The city also had the fourteenth highest average monthly rent for a two-bedroom at $1,900.

In August, Laval finished closely behind at twenty-fifth for average monthly rent for a one-bedroom home at $1,366. The suburb finished at twenty-fourth for average monthly rent for a two-bedroom at $1,651.

Canada’s national rent average rose to $1,763 in August, and it is expected to keep rising. Factors for this include the return of university students, office workers, and the re-opening of borders.

Rentals.ca

Looking at the situation year over year, average monthly rents were actually down slightly in August in Montreal for both a one- and two-bedroom apartment. While month over month, average rents were slightly higher.

In Montreal, the average rent for condo apartments has declined 19.5% since August 2019, from $2,215 down to $1,783 last month.

For more information on local and national rental statistics, visit the National Rent Report.

Al SciolaAl Sciola

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