Renters in Montreal are feeling the pinch as they face rising costs, mirroring a trend across Canada. Montreal rent has seen prices for both one and two-bedroom apartments climb. The median for a one-bedroom reached $1,590 in October, while a two-bedroom now costs $2,100, according to the new Zumper Canadian Rent Report.
When you think of the average Montreal home for sale, you're not thinking ten-million-dollar price point or in-ground pool or two-car garage, most of the time. But this manor in Westmount is serving just that, with a price tag that could make Celine Dion blush: $13.95 million.
Now that moving day has come and gone, folks may be settling into their new homes and beginning to grumble about the cost of rent, which feels like it's been increasing for years. And it has! But on the month-to-month scale, that trend seems fuzzier.
Renting in Montreal is an extreme sport, with obstacles everywhere and a barrier to entry higher than the tallest outdoor staircase. There is little positive news to be gleaned from the real estate market these days, but if you're looking for cheaper rents than in Toronto, you're ever-so-slightly in luck but maybe not for much longer.
A new interactive tool is looking to address the escalating housing crisis in Quebec, bringing much-needed transparency to rental prices in-province. The Rent Registry, created by local non-profit Vivre en Ville, offers historical data on rental rates to protect tenants from excessive increases and curb real estate inflation.