Business and Economy
Montreal asking rents up nearly 71% since 2019, says StatsCan
By Jenna Benchetrit, CBC News, RCI
The report draws from asking rents to illustrate the latest market trends, because prospective renters typically face higher rents compared with long-term tenants
whose rents reflect past leases, the report said. (Pexels Photo)
Vancouver posts highest average asking rent for a two-bedroom apartment.
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.
Since 2019, asking rent in the country’s second-largest city has grown from $1,130 to $1,930 in the first quarter of 2025, the data agency said in its first-ever quarterly rent statistics report.
Elsewhere in Quebec, the cities of Drummondville and Sherbrooke — which had the lowest average asking rents at the start of this year — saw the biggest uptick in average asking rents for two-bedroom apartments since the first quarter of 2019.
The report draws from asking rents to illustrate the latest market trends, because prospective renters typically face higher rents compared with long-term tenants
whose rents reflect past leases, the report said.
In the rest of Canada, the average asking rent for a two-bedroom apartment was highest in Vancouver, where the figure stood at $3,170 in the first quarter of 2025. It was followed by Toronto ($2,690), Victoria ($2,680) and Ottawa ($2,490).
Montreal ranks 17th on that list, according to Statistics Canada.
This article is republished from RCI.
