Though the vacancy rate of 2.8 per cent in Montreal has remained unchanged from last year, that doesn’t mean that apartment rental prices have stayed static.
We looked into the CMHC’s latest rental market report to see just where prices for Montreal apartments (as opposed to rental condos) have gone up or down. Here’s what we learned by looking at everything from the cost of a bachelor pad to three bedroom apartment:
Overall, the average cost of a Montreal apartment rental rose from $692 in October 2012 to $708 in October 2013, for a 2.3 per cent rise (Tweet this).
Two-bedroom apartments in Zone 6 (Plateau Mont-Royal) saw the sharpest increase, rising from $807 to $938, year-over-year for a 16.23 per cent jump (Tweet this).
Zone 2 (Le Sud-Ouest, Verdun) was on two of the top 3 price increase lists: its 12.32 per cent increase for bachelor apartments was the highest throughout Montreal and its one bedroom apartments recorded the second highest price boost with a 6.95 per cent increase.
Check out the interactive maps below and the tables of the top three gainers for more info: