You may have to start digging through your old piggy banks to afford rent...
Surprise, surprise — Montreal rent prices continue to soar.
According to liv.rent's May 2022 Montreal Rent Report, besides the slight drop we witnessed in March, the average prices for Montreal apartments for rent just keep on going up, especially in certain neighbourhoods.
And the numbers are there to prove it. The 514's city-wide average cost for one-bedroom apartments that aren't furnished has climbed to a whopping $1,450 per month as of May 2022, which shows an 11.54% increase since the beginning of the year.
To no one's surprise, furnished one-bedroom units in Montreal continue to be more expensive than unfurnished ones, averaging $1,579 per month.
According to liv.rent's recent report, as of May 2022, Montreal's Downtown is the most expensive area to live in the city, where an unfurnished one-bedroom costs an average of $1,748 per month. This cost has reportedly risen +7.92% month-to-month.
The cheapest area to rent is currently Hochelaga-Maisonneuve, where the average cost for an unfurnished bedroom is $1,192 a month, which is $556 less per month than Downtown. Wild...
For anyone hopping to keep their rent of the cheaper side, looking for apartments in Hochelaga-Maisonneuve, Villeray-Parc-Extension, Ahuntsic-Cartierville, Côte-Des-Neiges or Verdun is probably your best bet.
This article's cover image was used for illustrative purposes only.