Montreal Rents Surge Nearly 71 Percent Since 2019, Statistics Canada Reports
Montreal, The Gulf Observer: Average asking rents in Montreal have soared by nearly 71 Percent since 2019, according to new data released Wednesday by Statistics Canada in its inaugural quarterly rent statistics report. The sharp increase reflects growing pressures in Canada’s rental housing market — particularly in urban centres with high renter populations.
The report reveals that the average asking rent for a two-bedroom apartment in Montreal has jumped from $1,130 in 2019 to $1,930 in the first quarter of 2025. While there was a slight dip in asking rents between the first quarters of 2024 and 2025, experts note that the marginal decline does little to reverse the sharp rise over the past five years.
Elsewhere in Quebec, Drummondville and Sherbrooke — which had among the province’s lowest average asking rents in early 2025 — saw the largest percentage increases in rent for two-bedroom apartments since 2019.
“This report focuses on asking rents, which more accurately reflect the experience of prospective tenants compared to rents under existing leases,” Statistics Canada explained. Long-term tenants often benefit from lower rates based on past rental agreements, whereas newcomers to the market face significantly higher costs.
Mike Moffatt, assistant professor of business, economics, and public policy at Western University’s Ivey Business School, emphasized that major cities like Montreal have experienced “very, very high rent growth” in a short time. He acknowledged that while year-over-year rent declines of 3 to 4 per cent in some cities are welcome, “they don’t make up for the massive increases since 2019.”
Across Canada, the highest average asking rents for two-bedroom apartments in early 2025 were reported in:
- Vancouver: $3,170
- Toronto: $2,690
- Victoria: $2,680
- Ottawa: $2,490
Montreal ranks 17th nationally on this list, yet remains a focal point in Quebec due to the sheer pace of its rent increases.
With Quebec’s July 1 moving day approaching — a period when many leases renew — affordable housing advocates are sounding alarms. Earlier this year, the province’s housing tribunal authorized the largest rent hike in at least three decades, raising further concerns about affordability and displacement.
The report underscores growing inequality in access to affordable housing, with policymakers and advocacy groups calling for stronger rent controls, increased housing supply, and support for low-income renters.
