- A new ranking shows that Montreal area real estate is still among the cheapest in all of Canada.
- Laval, the oft-maligned suburb to the north, is now one of the most affordable rental markets in the country.
- Sherbrooke, Quebec is the #1 cheapest place to rent.
By now, most of us are aware that real estate in Montreal is steadily climbing. And with higher real estate prices come higher rentals. Finding an inexpensive one-bedroom apartment in the city to rent is getting increasingly difficult.
But according to data from the classified ad site, AllClassifieds.ca, you can still find a deal if you're willing to move out of the downtown core and set your apartment hunt on Laval.
In a list of the top ten cheapest places to rent an 800 square foot apartment in Canada, Laval came in at number eight with an average cost of $913.
The data is from nearly 11,000 rental ads that appeared on AllClassifieds' site in the last three months. Only areas that had at least 15 ads were taken into consideration.
Three Quebec cities, the most of any province, made the list with Sherbrooke taking the number one spot at just $674. Gatineau closed out the number 10 spot at $955.
Go figure, the only Ontario town in sight was Cornwall, ranked ninth overall at $915. With the exception of Medicine Hat and Red Deer, the cheapest cities were all on Canada's East Coast.
The idea of paying less than $700 for a nice sized apartment is nearly unthinkable these days. It almost makes me start to question how bad an hour and a half commute would really be. Almost.
According to AllClassifieds, the average rental estimates were taken by multiplying the median price per square foot with 800. Considering that this is only based on ads that were listed on the company's site, the rental prices have to be taken with a grain of salt as there are a lot of factors at play.
AllClassifieds also put together a look at Canada's most expensive places to rent. On the flip side, the majority of the pricier city rentals were all out on the West Coast in British Columbia.
The usual offenders were all on the list, like Vancouver in the number one spot at $2,735 and Toronto surprisingly far behind at number two with rents averaging just $2,080.
So, what do you say? Is the promise of cheaper rent enough to make you move out to Laval?