Montreal's Average Rent Is Over $1,600 For A One-Bedroom — Get Ready To Find A Roommate
In Westmount, the average rent among some listings is over $2,000.
Renting in Montreal is an extreme sport, with obstacles everywhere and a barrier to entry higher than the tallest outdoor staircase. There is little positive news to be gleaned from the real estate market these days, but if you're looking for cheaper rents than in Toronto, you're ever-so-slightly in luck — but maybe not for much longer.
Montreal's average rent among active apartment listings is now more than $100 higher than it was at the beginning of 2023, with the citywide average at $1,686 for an unfurnished one-bedroom apartment, according to data aggregated by liv.rent.
Compared to May of last year, the average rent is up $236, and unfurnished one-bedroom units are more expensive on average than furnished units. It's an average-to-average difference of $32, but that money adds up quickly.
What's more, according to liv.rent, unfurnished one-bedroom units in the cheapest neighbourhood included in the analysis — Ahuntsic-Cartierville, this month — cost a shocking $634 less than similar units in the most expensive area overall (downtown, of course).
Liv.rent also reports that several neighbourhoods saw significant month-to-month increases in the price of an unfurnished one-bedroom. In Westmount, the average rent went up by nearly 15%, and Saint-Henri saw an increase of just over 11%. The two next-highest increases took place in Saint-Laurent (+7.14%) and Villeray–Parc-Extension (+5.71%).
The highest average rent for an unfurnished one-bedroom, $2,042, was found in Westmount. Ahuntsic-Cartierville boasts the lowest average rent for an unfurnished one-bedroom unit, $1,408, which is just under the average rent in Montreal from May 2022.
To compile its Montreal reports. liv.rent uses data from listings on its own site, PadMapper, Centris and DuProprio. The site excludes listings asking over $5,000 for "rooms for rent and shared accommodation."