With lease extensions coming up, many Quebecers are worried they’ll have to put more money into their rent. See which provincial cities are more expensive to stay in Quebec, according to a report by Rentals.ca.
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Contrary to popular belief, Montreal isn’t the city where you spend the most money on a one-bedroom apartment. Gatineau has the highest monthly rent for such accommodation with an average monthly rent of $1,641, a 9.6% increase year over year.
For a two-bedroom apartment in neighboring Ottawa, the average monthly rent is $1,809 (+4.5%).
On the Quebec metropolitan side, a Montrealer pays an average of $1,624 per month for a one-bedroom apartment. This is an increase of +7.6% compared to the previous year. However, for an additional bedroom, the average rent in Montreal is higher at $2,124 (+7.7%).
In Laval, monthly rent costs an average of $1,439 (+6.1%) for a one-bedroom unit and $1,958 for a two-bedroom unit (+12.2%).
Quebec has an average monthly rent of $1,213 for a one bedroom apartment and $1,450 (+5.3%) for a two bedroom apartment.
Cheaper than the rest of Canada
The average rent in Canada rose 10.7% year-on-year last January but fell 0.5% compared to last December.
For example, the average home price in the country in January was $1,996 per month. However, we remain below the pre-pandemic January 2020 average when we were generally paying $1,823 per month.
As a result, Canadian rents are up 9.5% from the pre-pandemic average.
“The Canadian rental market began in 2023, where it ended in 2022, and showed strong annual rental growth amid low supply and rapidly growing demand,” said Shaun Hildebrand, President of Urbanation.
Vancouver and Toronto rank first and second with average monthly rents of $2,730 (+5.2%) and $2,458 (+0%) for a one-bedroom unit and $3,624 (+1.7%) and 3,227, respectively $ (+0.4%). for a two-room apartment.
“Outside of Toronto, rent increases are exacerbating in the British Columbia and Alberta markets, which are experiencing relatively high rates of population growth,” he added.
Studio rents increased 8.7% year over year to an average rent of $1,426. Rent for three-bedroom apartments rose 5.7% to hit $2,364 in January.