A new report reveals that Montréal has experienced one of the largest increases in average asking rents among Canadian cities, with a 70.8% rise between Q1 2019 and Q1 2025. The average rent for a two-bedroom apartment in Montréal grew from $1,130 to $1,930 during this period.
Secondary Cities See Even Sharper Rent Increases
While Montréal saw dramatic rent growth, even steeper hikes were recorded in Drummondville and Sherbrooke– two cities that started with the lowest average rents in 2019:
- Drummondville: Up from $600 to $1,200 (+100%)
- Sherbrooke: Up from $660 to $1,250 (+89.4%)
This means renters in Quebec’s more affordable regions have seen costs nearly double in just six years, significantly eroding housing affordability.
Slower Growth in High-Cost Cities Like Toronto and Vancouver
In contrast, cities with already high rents experienced more modest increases:
- Toronto: Asking rents for two-bedroom units rose only 5.1%, from $2,560 in Q1 2019 to $2,690 in Q1 2025. However, this comes after a pandemic-driven dip and a temporary peak of $2,920 in late 2023. Rents fell 5.6% year-over-year in Q1 2025.
- Vancouver: Average asking rent rose 27.3%, from $2,490 in Q1 2019 to $3,170 in Q1 2025. Rents peaked at $3,580 in Q3 2023 before dropping 7.8% between Q1 2024 and Q1 2025.
What This Means for Renters in 2025
Despite relative affordability in past years, cities like Drummondville and Sherbrooke are catching up fast in terms of rental prices. For Montréal renters, the nearly 71% surge places additional pressure on households already navigating inflation and stagnant wage growth.
Meanwhile, larger markets like Toronto and Vancouver, though still Canada’s most expensive rental cities, have seen their asking rents stabilize or even decline in the past year.
The data underscores the continued evolution of Canada’s rental landscape, where affordability challenges are no longer confined to the country’s biggest cities.
Stay updated on Canadian rent trends: @CanadaHousingMarket
Source: The Daily — Quarterly rent statistics, first quarter 2019 to first quarter 2025
Canada Housing Market 
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