The Average Rent In Montreal Is Back Above $1,500 Because Of Course It Is

After a brief dip that may have brought hope to the hearts of Montreal renters, the average rent in the city has once again surpassed the $1,500 mark, according to a report released by liv.rent. For furnished apartments, the average is even higher at $1,683.

The highest rent in Montreal over the last month was in the Plateau, with a borough average of $1,749 for an unfurnished one-bedroom. Hochelaga-Maisonneuve remained among the cheapest, with the same apartment averaging $1,380.

Interestingly, the least expensive type of unit over the past month was a furnished, one-bedroom in Westmount, which went for an average of $1,297 — much lower than the average rent seen across the city in the past six months.

For a little context, Vancouver's rental market is much tighter than Montreal's, with the average unfurnished one-bedroom costing a whopping $2,256. That's over $200 higher than it was in May when the same unit type was rented for $2,016.

Toronto isn't faring much better, with an October average of $2,149 for the same size and style of apartment. In May, the average was $1,805, meaning the GTA has experienced significant price increases this year regardless of the typical fluctuations.

The Montreal neighbourhood that experienced the most price growth this month is Verdun, suggesting that the area is becoming increasingly popular. The average price for a furnished unit in Verdun rose by almost 30% over the last month, bringing the average to $1,958 for an unfurnished one-bedroom unit — closer to a Vancouver price than a Montreal one.