According to liv.rent's January 2022 report.
For some, the beginning of a new year also means the beginning of the search for a new apartment. To help you narrow down your search based on your budget, we've taken a look at liv.rent's January 2022 Montreal Rent Report to see which popular areas have the most affordable rents this month.
The report looks at the average Montreal rent prices in 11 neighbourhoods, average rates by listing type, and more. Unfortunately, it looks like the average rent in Montreal is the highest it's been in months, so it may not be the best time to switch apartments if you don't need to.
Here are the three key trends and data points that liv.rent believes Montrealers would be interested in:
- Montreal's city-wide average rent for an unfurnished, one-bedroom unit has soared to $1,300 this month.
- Hochelaga-Maisonneuve is now the cheapest neighbourhood to rent an unfurnished one-bedroom apartment in Montreal, at an average of $1,071.
- Plateau-Mont-Royal had the most significant rent increases for both furnished and unfurnished units, at +23.33% and +10.94% respectively.
According to liv.rent, the average price for a one-bedroom unfurnished unit in Montreal is $1,300 this month, whereas the average price for a furnished place the same size is $1,446.
Whether you're hoping to find a one-, two- or three-bedroom apartment in Montreal, the table below gives you a little idea of what price range you should be expecting to pay for an unfurnished place this month by neighbourhood.
Downtown has the highest average prices in the city for unfurnished apartments this month. Liv.rent's report shows that the cheapest of these 11 areas to get a one- or two-bedroom is in Hochelaga-Maisonneuve. And for three-bedroom apartments, the most affordable spot is said to be Verdun this month.
And if you don't have your own furniture, it's going to be a little more pricey to rent a furnished apartment in all these areas, except apparently in Côte-des-Neiges.
For furnished apartments, one- and two-bedrooms are most expensive in Plateau-Mont-Royal, and the average rent for a three-bedroom spot is the highest in Westmount. Only four of the 11 popular Montreal neighbourhoods have an average furnished three-bedroom rent price that's less than $2,000, namely Saint Henri, Verdun, Ahuntsic-Cartierville, and Villeray-Parc-Extension.
This article's cover image was used for illustrative purposes only.
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