It is becoming increasingly difficult to find affordable housing. Prices are rising, availability is falling and vacancy rates are minimal.
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A study also confirms that prices are unusually high and it is becoming increasingly difficult for tenants to find affordable housing.
“I know a lot of people who move and have to live with three, four or five people because it’s too expensive,” explains a young woman who met our journalist Marie-Lise Mormina.
“It’s not worth living in Montreal anymore,” said another citizen. “If the government doesn’t do anything, what will people do? sleeping on the street?
The Montreal Metropolitan Community also released a survey showing the rental market is tightening.
The average rental cost for apartments available on the market is $1,300 per month, a 5.1% increase between 2021 and 2022.
According to the CMM, this is the strongest increase in 20 years.
What doesn’t help is the drop in extortions in the greater Montreal area. There was a 30% drop between 2021 and 2022, now it will drop to 52% between 2022 and 2023.
The percentage of rental households is increasing, especially outside of the metropolitan area of Montreal, which means that it is becoming increasingly difficult to become a homeowner in the metropolitan area.