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montreal cost of living

homes for sale in montreal

It just got harder to afford a home in Montreal — And it's not because prices went up

If you thought Montreal real estate was already out of reach, this month's numbers might make you wince.

According to new data from Wealth North, the median price of a single-family home in the Montreal CMA held steady at $625,000 in May. But due to a slight bump in mortgage rates — from 3.89% to 3.99% — the annual income required to afford that price jumped by $1,359 in one month, now sitting at $165,366.

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montreal cost of living

Think you can afford a home in Montreal? Here's the minimum salary you need

If you're hoping to buy a home in Montreal anytime soon, you may want to brace yourself (unless you're pulling in well over six figures).

According to a new Wealth North report based on April 2025 data, the median price of a single-family home in Montreal has hit $625,000, up $15,000 from March. That jump means you now need an annual income of $163,330 to afford it — a $3,319 increase in just one month.

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montreal rent

Here's how much you'll pay for rent in these 10 popular Montreal neighbourhoods in 2025

Looking to rent an apartment in Montreal? You better pick your neighbourhood wisely.

Liv.rent's monthly Montreal Rent Report for February 2025 for February 2025 just dropped, unveiling a striking spread of rental prices across 10 of the city’s hippest neighborhoods.

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montreal rent

Renting an apartment in Montreal just got a bit cheaper — But don't get too excited

With February in full swing, Montreal tenants might notice a slight dip — not just in temperatures outside, but in the city's rent prices too.

According to Zumper's latest Canadian Rent Report, Montreal has fallen slightly on the list of most expensive cities to rent in Canada. We're now sandwiched between London, ON and Calgary, AB for one-bedroom prices.

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montreal rent

Montreal rent is up from last year — but it's still way cheaper than Toronto

As we ring in the new year, renters across Montreal may notice a slight bump in their cost of living.

While the price of rent across the country has gone down over the past month, Zumper's January 2025 Canadian Rent Report reveals that Montreal is close to becoming one of Canada's 10 most expensive cities to rent an apartment in.

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cost of living montreal

Here's how much it costs to be single in Montreal and how you can survive it

In many ways, Montreal is the perfect place to be single. The city is known for its bustling nightlife, there's an amazing kaleidoscope of artists, expats, immigrants, and locals, and with the rising popularity of polyamory, you're almost guaranteed to have a great time playing the field and meeting fascinating people.

The problem, as it is so often, is money. Independence is expensive.Obviously, it's easier to get by with multiple earners in the household—you can share the cost of rent, bills, groceries and subscriptions, to name just a few things.

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Quebec’s Shelter Allowance Program Can Pay You Up To $170/Month For Rent

To the surprise of no one, the cost of living has had a major impact on people's spending habits. For many Canadians, prioritizing savings or seeking financial aid has become essential. The Quebec government offers a range of financial aid programs for low-income residents including a solidarity tax credit, social assistance, and the basic income program, to name a few. Additionally, residents have the option of applying to the provincial Shelter Allowance Program, designed to assist those struggling to cover their rent.

The income required for a single Montrealer to live comfortably rose by 9% between 2022 and 2023, according to the Institut de Recherche et d’Informations Socioéconomiques (IRIS), which published the 2023 edition of its sustainable income report earlier this year. Considering factors such as annual rent, food, utilities (Hydro), transportation, phone, and internet services, IRIS determined that a Montrealer living alone would require an income of $32,252 in 2023. However, this figure may not reflect the reality for everyone in Quebec.

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canada housing market

Montreal Used To Be Affordable. A 2022 Global Housing Ranking Proves It’s All Over

With record inflation in Canada pushing up the cost of pretty much everything, it’s no surprise the Canadian housing market is also absolutely bonkers.

In the most recent edition of the Demographia International Housing Affordability (DIHA) report, the cost of buying a home in many Canadian cities has become "severely unaffordable," Montreal included!

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montreal apartments for rent

Montreal Apartment Rent Soared (Again) — Here’s Where It’s Most Expensive

With an apartment vacancy rate of 3%, there are plenty of Montreal apartments for rent throughout the city. However, the average cost of rent has gone up.

Although Montreal was once upon a time considered an affordable city when it came to housing, it seems as if the cost of living is slowly but surely trying to match those of more expensive cities such as Toronto or Vancouver.

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A Chic Industrial Montreal Condo For Sale Is Hiding Inside This 100-Year-Old Building

With Montreal luxury home sales on the rise, it comes as no surprise that more and more people are trying to get their hands on some prime real estate. Well, this lavish Montreal condo is now up for grabs, and it's quite an impressive property.

Located at the crossroads of Quartier des Spectacles and Old Montreal, this loft-style home is veiled in a building that is over 100 years old. However, the interior is as modern as it gets.

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Jobs In Montreal

8 Jobs In Montreal Advertising $100,000+ Salaries — Maybe Then You Could Afford Gas

If you're looking to change jobs or make a career shift, now may be the time.

We scoured the boards so you don't have to and found interesting jobs in Montreal that, according to the Government of Canada jobs bank, pay at least $100,000 annually.

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montreal home prices

Montreal Area Home Prices Rose 20% (!) In The Last Year — Here's Where Prices Are Highest

If you happened to blink at any point in the last two years you might have missed the moment when your dream of homeownership in the near future slipped away. The latest market report from the Quebec Professional Association of Real Estate Brokers shows Montreal home prices are still going up.

In February 2022, the median price of a single-family home in the Montreal area was $550,000 — 20% higher than it was in February 2021.

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