Montreal asking rents up nearly 71% in six years, according to Statistics Canada

MONTREAL — A new Statistics Canada report says asking rent in Montreal has risen by nearly 71 per cent since 2019.

Average asking rent for a two-bedroom apartment was $1,930 in the first quarter of 2025, up from $1,130 six years ago.

Asking rents have roughly doubled in some other Quebec cities, including Drummondville and Sherbrooke.

Montreal ranked 17th for average asking rent among Canadian cities in 2025, well behind Vancouver at $3,170, and Toronto at $2,690.

But asking rent has increased by just 27 per cent in Vancouver over the last six years, and only five per cent in Toronto.

The report notes that asking rents tend to be higher than rents paid by long-term tenants, and offer a picture of current market trends.

This report by The Canadian Press was first published June 25, 2025.