Montreal Rent Report, September 2026

Montreal continued to hold up better than any other large Canadian rental market over the past year. The average asking rent for apartments and condominiums was $1,959 per month in September 2026, up 0.2% from August and down just 1.1% from a year earlier, according to the Rentals.ca and Urbanation National Rent Report published October 7, 2026. That was the smallest annual decline among Canada's six largest markets, narrowly ahead of Ottawa (-1.2%).

Nationwide, the average asking rent for apartments and condos was $2,038 in September, and the average across all property types was $2,034, down 4.2% year over year in the 24th consecutive month of annual declines. Quebec apartment and condo rents were down 1.3% over the year.

The Canada Mortgage and Housing Corporation (CMHC) recorded a purpose-built rental vacancy rate of 2.9% in October 2025 for the Montreal CMA, its most recent authoritative survey.

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

On asking rents, Rentals.ca reported that Montreal one-bedroom units rose 1.1% over the year to $1,749 in September, the only one of the six largest markets where one-bedroom rents increased. Three-bedroom units fell 1.8% to $2,783. The one-bedroom asking rent is more than $600 above CMHC's in-place one-bedroom average of $1,131. The gap reflects the difference between what continuing tenants pay and what new listings ask, and Rentals.ca notes that its figures can also skew higher than CMHC's because they include larger and luxury units and listings that take longer to lease.

Central and highly walkable neighborhoods command the highest rents in Montreal, while the city's eastern and value areas offer lower per-bedroom rents. 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

Around Greater Montreal (Rentals.ca, September 2026)

Rentals.ca found the largest annual declines in September concentrated in markets next to the biggest centres, and two of the top three were around Montreal.

• Côte Saint-Luc: down 13.6% over the year, the largest annual decline in the country
• Longueuil: down 11.3%, the second largest annual decline in the country
• Laval: up 8.5%, among the largest annual gains in the country

Neighborhood-level rent averages fluctuate month to month based on listing mix. For in-place rents by 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.

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%, a single CPI-based baseline announced in January 2026, applying to lease renewals.

Shared accommodation has cooled faster than whole units. The average asking rent for a room in Montreal fell 8.4% over the year to $825 in September, the largest decline among the six largest cities, and Quebec shared accommodation rents fell 8.3% to $798, according to Rentals.ca.

Rentals.ca's October report describes the second consecutive monthly dip in national rents as a typical seasonal occurrence, with demand ramping up in the spring and summer and fading into the fall. It sees signs of stability emerging in Toronto and Vancouver, citing peaked construction inventory and new data revisions showing that a previously reported decline in population was actually a modest increase. In the near term, it says more affordable rents and move-in incentives are releasing pent-up demand from delayed household formation, after higher rents in previous years kept prospective renters living with parents or roommates for longer.

Quebec's rent-control framework continues to anchor the market. With the TAL 2026 baseline set at 3.1% and tenants able to refuse an increase, continuing tenancies renew at rents well below what new listings ask.

What this means for renters

• Asking rents are only slightly below last year's level, the smallest decline among the six largest markets
• You can refuse a rent increase in writing within one month of receiving the notice
• 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 still fills units faster than holding out
• Use the mandatory TAL lease form and a written move-in inspection to avoid disputes
• Renewals are cheaper than turnover, plan a fair renewal offer well ahead of the lease end
• Quality photos and detailed listings win the competition for eyeballs

SQRFT's October 2026 report will follow the next Rentals.ca National Rent Report, which covers October data.