Montreal Rent Report, July 2026

Montreal remained one of the most affordable large rental markets in Canada through July 2026. The average asking rent across all property types was $1,940 per month, down about 1.6% year-over-year, according to the Rentals.ca and Urbanation National Rent Report for July 2026. For context, the national average asking rent was $2,037, down 4.0% year-over-year.

The modest cooling in Montreal contrasts with the city's long-standing affordability. Its per-bedroom rents in the Canada Mortgage and Housing Corporation (CMHC) survey are the lowest among the eight major cities SQRFT tracks in this series, well below Toronto and Vancouver.

CMHC recorded a purpose-built rental vacancy rate of 2.9% in October 2025 for the Montreal CMA. That reading keeps Montreal tighter than the most oversupplied western markets while still leaving renters more choice than in the very tightest years.

The table below shows CMHC's in-place averages for the existing purpose-built stock as of October 2025. These reflect what current tenants pay, and in a rent-controlled market like Quebec they sit well below what new listings ask.

• Studio (CMHC, Oct 2025): $1,005 / month
• 1 Bedroom (CMHC, Oct 2025): $1,131 / month
• 2 Bedroom (CMHC, Oct 2025): $1,346 / month
• 3 Bedroom+ (CMHC, Oct 2025): $1,625 / month

Montreal's average asking rent across all property types was $1,940 in July 2026, notably higher than the CMHC per-bedroom averages. That gap is expected: asking rents capture new-listing prices, while CMHC's data reflects the broader stock including long-tenured tenancies that Quebec's rent-control framework holds down year after year.

Central and highly walkable neighborhoods command the highest rents in Montreal, while the city's eastern and value areas remain among the most affordable in any major Canadian market. Demand concentrates in transit-served, amenity-rich communities favored by students and young professionals.

Higher-priced neighborhoods

• Downtown / Ville-Marie, office core and transit hub
• The Plateau-Mont-Royal, popular and walkable inner-city district
• Mile End, cafes, culture, and creative-industry demand
• Griffintown, new condo supply near downtown
• Saint-Henri, revitalized southwest district

Best-value areas

• Hochelaga-Maisonneuve, established east-end district that typically offers lower per-bedroom rents
• Rosemont, family-friendly residential area with moderate rents
• Verdun, riverside neighborhood popular for its relative value

Neighborhood-level rent averages fluctuate month to month based on listing mix. For current asking rents by specific area, see the CMHC neighborhood rent tables which are updated on CMHC's schedule.

Montreal's purpose-built rental market stayed relatively tight in the latest CMHC survey, with an overall vacancy rate of 2.9% in October 2025. That is looser than the extreme tightness seen in some prior years but still firmer than the most oversupplied western markets.

Vacancy by unit type (CMHC, October 2025)

• Studio: 3.4%
• 1 bedroom: 3.2%
• 2 bedroom: 2.9%
• 3 bedroom or more: 2.1%
• Overall: 2.9%

Quebec's rent-control framework, administered by the Tribunal administratif du logement, shapes how the market behaves. The TAL set the 2026 baseline rent adjustment at 3.1%, announced in January 2026, applying to lease renewals. The 2026 formula uses a single CPI-based baseline and removed the old heating-type distinction. Tenants have the right to contest increases at the TAL, which keeps continuing-tenancy rents well below new-listing asking rents.

The near-term outlook for Montreal rents points to continued modest movement rather than sharp swings. Asking rents eased about 1.6% year-over-year in July 2026, a gentler correction than the national average, and Montreal's structural affordability relative to Toronto and Vancouver should keep demand steady.

Quebec's rent-control framework continues to anchor the market. With the TAL 2026 baseline set at 3.1% and tenants able to contest increases, continuing tenancies will keep renewing at rents well below what new listings ask, sustaining the large gap between in-place and asking rents.

What this means for renters

• Montreal remains among the most affordable big cities in Canada
• The right to contest increases at the TAL is a real lever, use it
• Best value continues to sit in the east end and value areas (Hochelaga-Maisonneuve, Rosemont, Verdun)
• Keep your signed TAL lease and inspection records in case a dispute arises

What this means for landlords

• Realistic pricing fills units faster in an affordable, protected market
• Use the mandatory TAL lease form and a written move-in inspection to avoid disputes
• Renewals are cheaper than turnover, plan a fair renewal ahead of the April-to-March cycle
• Quality photos and detailed listings win the competition for eyeballs

SQRFT's August 2026 report will publish on the last business day of August.