Villeray-Parc-Extension now Montreal's cheapest neighbourhood for one-bedroom rentals

Villeray-Parc-Extension has become Montreal's most affordable neighbourhood for renters, with unfurnished one-bedroom apartments averaging $1,368 per month—a 13.8 per cent drop from $1,587 a year ago.

According to liv.rent's August 2026 Montreal rent report, the city-wide average for unfurnished one-bedrooms is $1,605 per month, up slightly from July but down $88 from August 2025—a 5.2 per cent year-over-year decline. Nine of Montreal's ten tracked neighbourhoods saw unfurnished one-bedroom rents fall compared to a year ago, with drops ranging from a modest 1.4 per cent in Ahuntsic-Cartierville to Villeray-Parc-Extension's steep 13.8 per cent decrease.

Downtown remains the priciest place to rent in the city, with unfurnished one-bedrooms averaging $1,819 per month—a gap of $451 between the city's most and least expensive neighbourhoods. Other neighbourhoods with year-over-year declines include Saint-Laurent, Notre-Dame-de-Grâce/Côte-des-Neiges, Verdun, Westmount, Saint-Henri, and Le Plateau-Mont-Royal. Across those nine neighbourhoods, rents fell by an average of roughly 5.7 per cent.

Hochelaga-Maisonneuve was the lone exception, climbing 1.3 per cent year-over-year to $1,419 per month. Month-over-month, the city's average unfurnished one-bedroom rent rose 1.2 per cent from July to August, while furnished one-bedrooms eased 0.8 per cent to $1,610—meaning furnished and unfurnished units now cost roughly the same.

At the neighbourhood level, Westmount saw the largest monthly jump for unfurnished units at 4.7 per cent, followed by Villeray-Parc-Extension at 4.1 per cent. Even the city's newly crowned cheapest neighbourhood continues to fluctuate. Ahuntsic-Cartierville posted the sharpest monthly drop at 3.4 per cent. For furnished units, Notre-Dame-de-Grâce/Côte-des-Neiges saw the largest monthly increase at 5.2 per cent, while Le Plateau-Mont-Royal dropped the most at 7.9 per cent.