Montreal offers a unique living experience in North America.
It is a mostly bilingual city, features a huge range of architectural eras and styles, and has among the highest ratios of restaurants per capita in the world.
TL;DR A new ranking from Global News shows that Montreal is among the cheapest rental markets in Canada.
The city also offers a remarkably high quality of life despite a low-cost of living. Montreal is among the most affordable cities on the continent.
Montreal has so far been immune to the trends that have caused housing prices in comparable cities like Toronto, Vancouver, Boston, and Washington, D.C. to skyrocket in recent years.
A new ranking from Global News confirms that the city is among the best places to rent in Canada.
According to the study, the average Montreal rent for an apartment with two bedrooms is $1,208/month. The only major Canadian metro area to rank above Montreal is Ottawa-Gatineau, where the average rent is $1,014/month.
Saskatoon, Québec City, and London also ranked above Montreal for the cheapest condo apartment rent.
However, Montreal is the number two cheapest market for a unit in a "purpose rental building," or a building entirely composed of apartments, not condos.
The average rent for such a unit in the city is $809/month. Ottawa-Gatineau again comes in above Montreal with units in purpose-rental buildings available for only $794/month.
But while this data is encouraging, it may not be true for long. Despite Montreal's cheap market, new development downtown and an influx of foreign investment are finally beginning to drive up housing prices across the Montreal metro area.