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4w ago

Montreal Asking Rents Surge 71% Since 2019 as Vancouver Tops $3,170 for Two Bedrooms

Statistics Canada’s inaugural quarterly data highlights regional rent shifts with fresh apartment completions reshaping markets under slowing population growth.

In Halifax, the average asking monthly rent for an individual room in the first quarter of this year was $840, according to the report. That's up from about $600 in 2019.
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A 'for rent' sign is shown in Montreal on April 11, 2023. The average asking price of rent in Montreal has shot up nearly 71 per cent since 2019, according to a rent report released by Statistics Canada on Wednesday.
Average asking rent for a two-bedroom apartment was $1,930 in the first quarter of 2025, up from $1,130 six years ago. 

Overview

  • The average asking rent in Montreal rose from $1,130 in early 2019 to $1,930 in the first quarter of 2025, marking a 71% increase.
  • Vancouver held the highest average asking rent for a two-bedroom at $3,170 in the first quarter of 2025, followed by Toronto at $2,690.
  • Montreal ranked 17th nationwide for two-bedroom asking rents despite its sharp price growth.
  • Quebec cities Drummondville and Sherbrooke recorded the largest rent upticks since 2019 among provincial markets.
  • National year-over-year rent growth has been declining since October 2024, reflecting softer demand and increased supply.