Across most of Canada, renters are finally catching a break, but Montreal tenants aren't feeling any relief.
According to Zumper's August 2025 Canadian Rent Report, the national median price for a one-bedroom apartment fell 0.7% last month to $1,821, while two-bedrooms dropped 0.4% to $2,242. On an annual scale, both are down just over 4%, marking the tenth straight month of year-over-year declines.
The slowdown is hitting hardest in Canada's priciest rental markets. Vancouver's one-bedroom median fell 7.4% year over year to $2,500, while Victoria saw a 6.5% drop to $2,020. Toronto posted the steepest decline in the country, with one-bedroom rents down nearly 12% from last July to $2,220. Meanwhile, places like Quebec City, Regina, and Edmonton remain outside of the top 15 most expensive cities to rent an apartment in.
"The slowdown reflects a convergence of market dynamics," says rental trends expert Crystal Chen. "Growing housing supply, a moderation in population growth, and persistent affordability challenges are all putting downward pressure on rental costs."
As for Montreal, it ranked as the 12th most expensive city in the country, with one-bedroom units up 2.4% in July to $1,710 and two-bedrooms up 0.9% to $2,210. While we remain behind the likes of smaller Ontario cities like Barrie, Kingston, and Kitchener, Montreal's prices are not far from cracking the top 10.
Here's how the top 15 Canadian cities stacked up for one- and two-bedroom median rents in July:
Whether the uptick is being driven by demand outpacing new construction or other local market factors, the gap between national and local trends is becoming harder to ignore.
Want to know how rent fits into Montreal’s bigger cost-of-living picture? Check out our full breakdown of how much you really need to live in Montreal in 2025.
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Average listed rent by province and unit type for apartment and condo listings in January 2024.