In this article, we'll take a look at current trends in the Montreal rental market and make a forecast for 2024. We'll also look at the challenges faced by renters and offer tips on finding an apartment in the Quebec metropolis.

Rent prices

• The average price of an apartment in Montreal was $1,639 per month in the first quarter of 2024 (Centris.ca).

• This represents a 4.57% increase over the last quarter of 2023.

• Rents increased by 11.3% compared to December 2022 (Vistoo).

• The average price of a furnished one-bedroom apartment is approximately $1,719 per month, while an unfurnished apartment of the same size costs $1,594 per month (Vistoo).

Housing availability :

• The vacancy rate is currently 1%, which means that apartments are in high demand.

• Fewer than 13,000 new rental units are expected to come on the market in 2024 (CMHC).

• The search for an apartment should remain difficult in 2024.

Forecasts for 2024

• CMHC forecasts that the rental market will remain under pressure in Montreal in 2024.

• Rental prices should continue to rise.

• Vacancy rates should fall even further.

In summary, the Montreal rental market is currently very tight, with high prices and low availability. This situation is set to continue into 2024.

If you're looking for an apartment in Montreal, it's important to start your search early and be prepared to pay high rent.

Here are some tips for finding an apartment in Montreal

• The apartment-hunting process can take several months, so it's important to start early.

• Determine how much you can afford to pay in rent each month, and stick to your budget.

• You may not find the apartment of your dreams, so be prepared to compromise.

• There are many websites and applications that can help you find apartments for rent in Montreal.

• Use a real estate agent** A real estate agent can help you find apartments that meet your needs and budget.

Montreal's rental market is a challenge for many tenants, but solutions do exist. By following the advice presented in this article, you'll increase your chances of finding affordable, quality housing in the Quebec metropolis.

Don't forget that the rental market situation is constantly evolving, so it's important to keep abreast of the latest trends and available resources.