Average Montreal Rental Prices

If renters are looking to pay low-rent in a dynamic city, Montreal’s rental prices looks pretty appealing, according to the Rental Market Survey conducted in October 2013 by Canada Mortgage and Housing Corporation (CMHC).

The average rent for a two-bedroom apartment in Montreal in October of 2013 was $730. Despite a slight increase from its 2012 rate, at $711, Montreal’s rental rate is smack in the middle of rates found in other major centers in Canada. In Montreal, The highest rental rate was registered in the Downtown and Île-des-Sœurs zone ($1,399). Conversely, the lowest rate was recorded in Mercier ($608), Montréal-Nord ($618) and Villeray, Saint-Michel and Parc-Extension ($621), as well as in the suburbs, in Saint-Jérôme ($620).

Throughout Canada, Vancouver had the highest rental rate at $1,281, followed by Calgary at $1,281 and Toronto at $1,213, while Montreal’s neighbouring centers, Trois-Rivière ($555), Saguenay ($571) and Sherbrooke ($591), came in at the lowest. In fact, the province of Quebec averaged out with the lowest rental rate in Canada.

Almost all of the 35 Canadian centers saw increases in their average rents for two-bedroom apartments between October 2012 and October 2013. Centers in the province of Quebec saw the lowest hikes, while Calgary, Edmonton and St. John’s saw the highest.

Since 2010, Montreal’s average rental rate for two-bedroom apartments has only seen an increase of $30. Stable vacancy rates and the rate of inflation are factors that likely impacted the growth of 2 percent seen between October 2012 and October 2013.