Montreal Rent For A 1-Bedroom Decreased In The Last Month According To A Report
Here's to hoping this downward trend continues!🤞
Lately, we all cannot help but wonder: will Montreal rent prices ever stop increasing? Turns out, there is hope!
According to liv.rent's March 2022 rent report for Montreal, the "city-wide average rent for unfurnished one-bedroom units has fallen to $1,393," compared to February's $1,414 average. It may not be the biggest decrease, but hey it's something, right?
The average one-bedroom rent for March is still more expensive than it was in January though, but at least we can have a little bit of hope that this downward trend may continue.
Liv.rent looked at the average rent prices for 11 popular Montreal neighbourhoods this month: Plateau-Mont-Royal, Downtown, Saint-Henri, Westmount, Verdun, Notre-Dame-de-Grâce, Côte-des-Neiges, Saint-Laurent, Ahuntsic-Cartierville, Villeray-Parc-Extension, and Hochelaga-Maisonneuve.
Out of these neighbourhoods, Hochelaga-Maisonneuve is the least expensive area to rent this month, with an unfurnished, one-bedroom apartment averaging $1,176/month.
So if you've been searching the internet to figure out where to find cheap rent in the city, you now know where to direct your searches.
Meanwhile, downtown Montreal is the most expensive area to rent in March 2022, with an unfurnished one-bedroom averaging $1,620/month.
This new report explained that the popular areas to live in are actually decreasing, while up and coming neighbourhoods' rent prices are increasing, which isn't so surprising... Cough cough, gentrification.
"In terms of unfurnished units, Verdun (+17.50%) and Côte-des-Neiges (+12.74%) saw the largest increases, while Westmount (-11.54%) and The Plateau-Mont-Royal (-7.08%) led the city’s aggregate decline in price."
When it comes to the price for furnished spots in the city, the average for a one-bedroom is $1,487, compared to the $1,508 it was in February.
Here's to hoping this downward trend in Montreal rent prices continues!
This article's cover image was used for illustrative purposes only.
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