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Montreal’s rental market continues to be one of the more affordable options among major Canadian cities, but don’t be fooled — prices still vary widely depending on the neighbourhood. If you’re planning a move or are just curious about how much rent is setting people back in Montreal, we’ve got the latest numbers for you.
While rent across Canada is actually on the decline lately for the first time in years, Montreal seems to have missed the memo. According to the November 2024 rent report from real estate platform liv.rent, the average rent for an unfurnished 3½ — or one-bedroom apartment — across Montreal is $1,729 per month. That’s a $14 dip from last month, but still $142 higher than this time last year.
The priciest area No surprise here: Westmount tops the list with rents averaging $2,021. On the other end of the spectrum, Ahuntsic-Cartierville is the most budget-friendly spot, with an average rent of $1,481 — a whopping $540 difference.
Following the Government of Canada’s recommendation that your rent should take up no more than 35% of your gross income, you’d need to earn nearly $70,000 per year to afford an average one-bedroom in Westmount. But if you’re wondering how far your salary can take you in other parts of Montreal, we’ve got you covered.
Here’s a neighbourhood-by-neighbourhood breakdown of what you’d need to earn annually to comfortably afford an average 3½ in Montreal.
Montreal rental breakdown
Here’s how much it costs to rent an average unfurnished one-bedroom in November 2024, along with the minimum salary needed to stay within budget:
- Westmount: $2,021 average rent; $69,291 minimum salary
- Verdun: $1,973 average rent; $67,646 minimum salary
- Saint-Henri: $1,943 average rent; $66,617 minimum salary
- Downtown: $1,922 average rent; $65,897 minimum salary
- Plateau-Mont-Royal: $1,844 average rent; $63,223 minimum salary
- Hochelaga-Maisonneuve: $1,599 average rent; $54,823 minimum salary
- Notre-Dame-de-Grâce/Côte-des-Neiges: $1,529 average rent; $52,423 minimum salary
- Saint-Laurent: $1,497 average rent; $51,326 minimum salary
- Villeray-Parc-Extension: $1,485 average rent; $50,914 minimum salary
- Ahuntsic-Cartierville: $1,481 average rent; $50,777 minimum salary
What it means for you
If you’re dreaming of living in Westmount, you’ll need to earn close to $70,000 a year to comfortably afford an average one-bedroom. But there are plenty of more affordable options in areas like Ahuntsic-Cartierville or Villeray-Parc-Extension, where the cost of living is significantly lower.
Interestingly, this month’s report also revealed that rents for furnished and unfurnished one-bedroom apartments in Montreal have levelled out at the same average price of $1,729. That’s a rare balance, so if you’re on the hunt for a furnished unit, now might be a good time to jump in.
For those looking for even cheaper rents, keep an eye on Hochelaga-Maisonneuve or the combined Notre-Dame-de-Grâce/Côte-des-Neiges area, where rents have been dropping the most.
Whether you’re staying put or considering a move, November’s numbers show that while rents are creeping up compared to last year, there are still budget-friendly options for every kind of renter. Just be sure to calculate your budget wisely before signing that lease!
And if you’re interested in two- or three-bedroom or furnished rental averages across these regions, liv.rent’s November Rent Report has the latest numbers for those as well.
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