Montreal Rental Market Fall 2026: Rents & What's Next

For the first time in years, Montreal's rental market is tilting slightly in favour of people looking for an apartment. Vacancy is rising, asking rents have stopped climbing, and more landlords are offering move-in promotions to fill units before winter. But this is a market that is cooling, not collapsing: rents are still far above where they were before 2022, and affordable units remain hard to find.

In this guide, we pull together the latest numbers from CMHC, the major listing platforms and Quebec's statistics institute, add what we are seeing on Rentack this fall, and look at what the next few months should bring for tenants and landlords.

The short answer

Asking rents are flat. Montreal's average asking rent for apartments and condos was $1,959 in September 2026, down just 1.1% from a year earlier, the smallest drop among Canada's six largest markets (Rentals.ca).
Vacancy is rising. CMHC expects Montreal's vacancy rate to climb from 2.9% in 2025 to 3.8% in 2026 and 4.5% in 2027.
Existing tenants still see increases. Average rents paid by all tenants keep rising, mainly when units change hands. CMHC forecasts the average 2-bedroom at $1,405 in 2026, up about 4.4%.
Demand is softer. Lower immigration means Greater Montreal's household count is expected to be flat in 2026, and search activity has slowed noticeably since September.
Incentives are back. Free months, gift cards and parking deals are now common, especially in new buildings.

How much is rent in Montreal right now?

It depends on which number you look at. Listing sites track asking rents (what vacant units are advertised for), while CMHC tracks average rents paid by all tenants in purpose-built rentals, many of whom have been in place for years. The gap between the two is large in Montreal.

Here is what a 1-bedroom (a 3½ in Quebec terms) costs this fall, by source, listed as source · amount · trend:

Rentals.ca (apartments and condos, August 2026): $1,743 · up 1.2% year over year
Liv.rent (unfurnished, October 2026): $1,611 · down 0.6% from September
Zumper (October 2026): $1,770 · overall median down about 2% year over year
CMHC average rent paid (October 2025, metro area): $1,131 · includes long-term tenants

That gap between roughly $1,130 and $1,750 is the key to understanding Montreal. If you already have a lease, you are probably paying far less than the market. If you are moving, you pay the market.

For a full city view, the average asking rent across all apartment and condo sizes was $1,959 in September, up 0.2% from August (Rentals.ca). Liv.rent's September data put Westmount at the top of the neighbourhood ranking and Villeray–Parc-Extension at the bottom. For a detailed breakdown, see our Montreal rent by neighbourhood guide.

Montreal is cooling more slowly than the rest of Canada

Nationally, asking rents have now fallen for 24 consecutive months on a year-over-year basis. The Canadian average was $2,034 in September, down 4.2% from a year earlier and 9.2% below its May 2024 peak.

Montreal has held up better than any other large city. Here are September's annual changes in apartment and condo asking rents across the six largest markets, ranked from most resilient to steepest decline, listed as city · change:

Montreal: −1.1%
Ottawa: −1.2%
Vancouver: −1.3%
Toronto: −1.4%
Edmonton: −3.2%
Calgary: −3.9%

Why the difference? Montreal faces less competition from investor-owned condos for rent than Toronto and Vancouver, and existing rents in Quebec sit well below market, so fewer tenants move. CMHC's mid-year update found that in Montreal, vacancies rose while turnover fell in most price ranges: more units are available, but tenants are staying put.

Why the market is loosening

1. Record rental construction is landing

Greater Montreal had 27,777 housing starts in 2025, a record year driven by apartments, most of them rentals. Those buildings are now being delivered. CMHC reports that vacancy is highest in buildings completed after 2020 and near post-secondary institutions, and that some new units are taking months to lease. If you want to see what is coming next, our overview of major rental projects in Montreal for 2026–2027 and the Griffintown and Downtown construction boom cover the largest ones.

2. Population growth has stalled

Quebec cut its permanent immigration target to about 45,000 a year for 2026 and is reducing temporary residents, especially in Montreal and Laval. The Institut de la statistique du Québec now projects the province's population will shrink by about 50,000 people between 2025 and 2029, with the City of Montreal also expected to decline. CMHC estimates Montreal's population will fall by 0.4% in 2026, leaving household growth at zero.

3. Shared housing is weakening first

Room rentals are often the first to feel lower demand from students and newcomers. Shared accommodation rents in Montreal fell 7.5% year over year in August, to $838 (Rentals.ca).

What we are seeing on Rentack this fall

Beyond the published data, here are our own observations of the Montreal market over the past few months:

More listings, longer vacancies. The number of units for rent has clearly increased compared with last year, and vacancy appears to be rising across the board, not only in new buildings.
Promotions are becoming standard. To stand out, many landlords are now offering a free month of rent, gift cards or other move-in perks. A year ago, these were the exception.
Who is searching: most people looking right now are newcomers to Quebec and young adults moving into their first place on their own.
Fewer searchers overall. Search volume is down compared with last year, which lines up with lower immigration to the province.
A sharper fall slowdown. Activity always eases after the July 1 moving season, but the drop has been more pronounced since September, with fewer people searching each week.

For renters, this means more choice and more room to negotiate. For landlords, it means presentation, pricing and responsiveness matter more than they have in years.

Rent increases: what existing tenants can expect

Falling asking rents do not mean falling rents for people already in a lease. Under Quebec law, landlords can raise rent when a lease is renewed, and the Tribunal administratif du logement (TAL) sets the framework.

A new calculation method took effect on January 1, 2026. It is now based on the 3-year average of Quebec's Consumer Price Index, municipal and school taxes, insurance costs, and up to 5% of major capital work.
The 2026 reference rate is 3.1% for leases renewing between April 2, 2026 and April 1, 2027, well below the 5.9% recommended in early 2025.
The big gap is at turnover. CMHC found that in 2025 the rent on a Montreal 2-bedroom rose 17.2% when a new tenant moved in, compared with 6.0% for tenants who stayed.

For a full walkthrough, read our guides to the 2026 TAL rent increase calculation and what the TAL is. You can also estimate an increase with our rent calculator.

What to expect in the next few months

October to December: the quiet season. Expect asking rents to hold flat or drift slightly lower, as they usually do in late fall. With search activity already down, units that sit through November may see price adjustments or added incentives.

Incentives will likely stay. CMHC says incentives intensified through the first half of 2026 and now include free or discounted parking, gift cards, move-in credits and, in some cases, several months of free rent. With new buildings still being delivered, we expect this to continue through winter.

December: CMHC's annual report. CMHC's next Rental Market Report, based on its October 2026 survey, is expected around December. Its forecast points to a vacancy rate near 3.8%, which would be Montreal's highest in several years and inside the 2.5% to 4.0% range CMHC considers balanced for the city.

January to March: renewal notices. Most leases in Quebec end on June 30, so rent increase notices for July 1 renewals go out between January 1 and March 31. These will be the first full renewal cycle under the new TAL method, and a new reference percentage is typically published at the start of the year.

Spring 2027: the market wakes up. Demand picks up from March onward as the July 1 season approaches. Our guide to moving on July 1st covers how to prepare.

Here is CMHC's forecast for Greater Montreal, listed as year · vacancy rate · average 2-bedroom rent:

2024 (actual): 2.1% · $1,176
2025 (actual): 2.9% · $1,346
2026 (forecast): 3.8% · $1,405
2027 (forecast): 4.5% · $1,455
2028 (forecast): 4.8% · $1,500

Two things stand out. Vacancy keeps rising for three more years, yet average rent keeps climbing, by about 4.4% in 2026, 3.6% in 2027 and 3.1% in 2028. Rent growth is slowing, not reversing.

Not everyone benefits equally

The cooling is concentrated in newer, higher-priced units. Older, affordable apartments remain scarce. CMHC economist Francis Cortellino has noted that vacancy for the cheapest units, under about $800 a month, was only around 1.5%. A balanced market overall does not mean an affordable one: rents are still high relative to incomes, especially when an apartment changes tenants.

Tips for renters this fall

Compare the full offer, not just the rent. A free month on a 12-month lease is worth about 8% off the first year. Check whether heating, hot water, parking and appliances are included.
Ask about promotions. If a unit has been listed for a few weeks, it is reasonable to ask whether an incentive or a lower rent is possible.
Look at new buildings and nearby areas. New projects downtown, in Griffintown and in Laval or Longueuil are where incentives are most common.
Think about your lease end date. A lease signed now may end mid-year. Ask whether it can be set to end on June 30 if you want to stay on the standard Quebec cycle.
Have your file ready. Proof of income, references and ID still help you secure the best units quickly. Our guide on how to find an apartment in Quebec walks through the process.

Tips for landlords this fall

Price for today's market. Units priced at last year's peak are the ones sitting empty. A slightly lower rent can cost less than one extra month of vacancy.
Use incentives strategically. A one-time perk such as a free month or a gift card can help you fill a unit without lowering the base rent for future years.
Respond quickly. With fewer people searching, every serious inquiry counts. Fast replies and flexible visit times make a difference.
Invest in good photos and clear details. Listings that show what's included (heating, appliances, parking) get more qualified interest.
Know the renewal rules. With the new TAL method, document your tax, insurance and major work costs so your increase is easy to justify.

You can browse current apartments for rent in Montreal, or filter by 1-bedroom, 2-bedroom and 3-bedroom units.

FAQ

Are rents going down in Montreal in 2026?

Asking rents are roughly flat. Montreal's average asking rent for apartments and condos was $1,959 in September 2026, down 1.1% from a year earlier. Rents paid by existing tenants are still rising, and CMHC forecasts the average 2-bedroom to reach $1,405 in 2026.

What is the vacancy rate in Montreal?

CMHC measured 2.9% in October 2025, up from 2.1% a year earlier. Its forecast calls for 3.8% in 2026 and 4.5% in 2027. The official 2026 figure is expected around December.

How much is a 1-bedroom apartment in Montreal?

Advertised 1-bedrooms currently range from about $1,600 to $1,770 a month on average, depending on the source. The average paid by all tenants, including long-term ones, was $1,131 in CMHC's 2025 survey.

Is fall a good time to rent in Montreal?

Yes, this fall is one of the better times in recent years. Fewer people are searching, more units are available and many landlords are offering promotions. The trade-off is less choice than in spring, and a lease that may not end on July 1.

Why are there more apartments for rent in Montreal?

Two reasons: record rental construction in 2024 and 2025 is now being delivered, and population growth has stalled because of lower immigration. More supply and fewer new households mean more vacant units.

Will Montreal rents drop in 2027?

CMHC does not expect average rents to fall. It forecasts vacancy rising to 4.5% in 2027 while the average 2-bedroom rent increases about 3.6%, to $1,455. Asking rents could stay flat or soften slightly, especially in new buildings.

How much can my landlord raise my rent in 2026?

There is no fixed cap in Quebec. Under the TAL's new method, the reference rate is 3.1% for leases renewing between April 2, 2026 and April 1, 2027, plus adjustments for taxes, insurance and major work. You can refuse an increase within one month of receiving the notice.

Sources

The short answer

Asking rents are flat. Montreal's average asking rent for apartments and condos was $1,959 in September 2026, down just 1.1% from a year earlier, the smallest drop among Canada's six largest markets (Rentals.ca).
Vacancy is rising. CMHC expects Montreal's vacancy rate to climb from 2.9% in 2025 to 3.8% in 2026 and 4.5% in 2027.
Existing tenants still see increases. Average rents paid by all tenants keep rising, mainly when units change hands. CMHC forecasts the average 2-bedroom at $1,405 in 2026, up about 4.4%.
Demand is softer. Lower immigration means Greater Montreal's household count is expected to be flat in 2026, and search activity has slowed noticeably since September.
Incentives are back. Free months, gift cards and parking deals are now common, especially in new buildings.

How much is rent in Montreal right now?

Here is what a 1-bedroom (a 3½ in Quebec terms) costs this fall, by source, listed as source · amount · trend:

Rentals.ca (apartments and condos, August 2026): $1,743 · up 1.2% year over year
Liv.rent (unfurnished, October 2026): $1,611 · down 0.6% from September
Zumper (October 2026): $1,770 · overall median down about 2% year over year
CMHC average rent paid (October 2025, metro area): $1,131 · includes long-term tenants

That gap between roughly $1,130 and $1,750 is the key to understanding Montreal. If you already have a lease, you are probably paying far less than the market. If you are moving, you pay the market.

Montreal is cooling more slowly than the rest of Canada

Montreal: −1.1%
Ottawa: −1.2%
Vancouver: −1.3%
Toronto: −1.4%
Edmonton: −3.2%
Calgary: −3.9%