Is it cheaper to rent or buy in Montreal?

Month to month, owning the $483,500 benchmark condo apartment costs about $3,262.22 in year one (mortgage, tax, maintenance, insurance) against $1,346 of rent. Over 10 years, with 3% price growth and the renter investing the difference at 5%, renting comes out ahead by $78,644.

How long do I need to stay in Montreal for buying to pay off?

In the default scenario renting stays ahead for the whole 10 years. Buying needs faster price growth or a longer stay (after 25 years the gap is $186,820 in favour of renting).

What is the average rent in Montreal?

$1,346 a month for a two-bedroom apartment in CMHC's October 2025 Rental Market Survey, which covers purpose-built rentals. Newer buildings and condos rented by owners are usually higher.

What does a $483,500 condo apartment cost to carry?

About $3,262.22 a month in year one: the mortgage on $435,150 plus the CMHC premium at 4.5%, $251 of property tax, 1% of value a year for maintenance and $100 of insurance.

Rent vs Buy in Montreal (2026)

Start with Montreal's numbers: a $483,500 benchmark condo apartment and $1,346 average two-bedroom rent. Change anything. The calculator plays out buying against renting and investing the difference, year by year, with Montreal's property tax, CMHC insurance, Quebec land transfer tax and selling costs. It tells you who ends up with more, and when.

Start from a city's typical price and rentMontreal: MLS condo apartment benchmark (2026-Q2) and CMHC's average 2-bedroom apartment rent (2025-10). Change the price or the rent to match the place you would buy or rent.

Province

How long you'd stay

years

Buying

Price of the home

Down payment

Mortgage rate

Renting

Rent for a similar place, per month

Return on the money you invest instead

The down payment and any monthly savings

More options

Buying

Home price growth per year

Property tax per year (% of value)

Maintenance per year (% of value)

1% is the usual rule of thumb

Condo fees per month

Home insurance per month

Selling costs (commission, legal)

Mortgage rate after year 5

0 = same rate

Amortization

years

First-time buyer (land transfer rebate)?

Renting

Rent increases per year

0 = no guideline in this province, so 3% is assumed

Tenant insurance per month

Tax drag on the investments

0 if it sits in a TFSA or RRSP. 15 to 25% if non-registered

Renting and investing wins by$57,786After 10 years, assuming the renter invests the $103,671 the buyer pays up front and the $1,438 a month that owning costs more than renting and earns 6% a year. If that money is spent instead of invested, buying wins. Renting stays ahead for the whole 10 years at these numbers. It flips if you can rent the same place for over $1,669 a month, or if prices grow more than 4.0% a year instead of 3%.

Owner net worthRenter net worth

Where the lines cross is the year buying pulls ahead.

Month one	Owning	Renting
Cash out each month	$2,809.09	$1,371.00
Of that, gone for good (interest, tax, upkeep, fees, or rent)	$2,047.96	$1,371.00
Cash needed up front (20% down, land transfer tax, legal)	$103,671	invested instead
When you sell in year 10: commission and legal	− $32,523	—
Net worth after 10 years	$341,065	$398,850

Owner: home value after selling costs, less mortgage$341,065

Renter: invested down payment and monthly savings$398,850

If you stay longer or shorter, or prices grow differently

Stay	Prices 0%/yr	Prices 2%/yr	Prices 3%/yr	Prices 4%/yr	Prices 5%/yr
5 yrs	Rent +$108,516	Rent +$62,357	Rent +$37,853	Rent +$12,361	Buy +$14,148
10 yrs	Rent +$202,457	Rent +$110,510	Rent +$57,786	Rent +$61	Buy +$63,073
15 yrs	Rent +$317,294	Rent +$181,718	Rent +$97,413	Rent +$23	Buy +$112,252
20 yrs	Rent +$458,815	Rent +$284,335	Rent +$165,908	Rent +$21,025	Buy +$155,547
25 yrs	Rent +$634,658	Rent +$429,626	Rent +$276,050	Rent +$75,995	Buy +$182,773

Year by year

Year	Owner cost	Rent	Home value	Mortgage left	Owner net	Renter net
1	$33,709	$16,452	$498,520	$378,066	$95,528	$127,148
2	$33,944	$16,937	$513,476	$368,555	$119,246	$151,784
3	$34,187	$17,436	$528,880	$358,651	$143,784	$177,642
4	$34,436	$17,950	$544,746	$348,338	$169,171	$204,787
5	$34,693	$18,479	$561,089	$337,599	$195,435	$233,289
6	$34,958	$19,025	$577,921	$326,416	$222,609	$263,219
7	$35,231	$19,586	$595,259	$314,771	$250,725	$294,657
8	$35,511	$20,165	$613,117	$302,645	$279,816	$327,683
9	$35,801	$20,761	$631,510	$290,017	$309,917	$362,383
10	$36,099	$21,375	$650,456	$276,868	$341,065	$398,850

Show the math

Owner: mortgage on $387,200 at 4.09% over 25 years. Property tax 0.62% and maintenance 1% of the growing value, plus condo fees and insurance. Land transfer tax $5,371 and legal fees up front. 5% selling costs at the end. Renter: pays rent rising 3.0% a year, invests the owner's up-front cash and, each year, whatever owning would have cost more than renting, at 6% tax-free. Net worth compares home equity after selling costs with the renter's portfolio. Not modelled: capital gains tax on the renter's portfolio at the end (the home is tax-free as a principal residence), utilities differences, and the value of stability or flexibility.

Rent vs buy in Montreal: three horizons

Benchmark condo apartment, 10% down, 4.5% mortgage, 3% price growth, 3% rent growth, 5% investment return, 5% selling costs.

Stay for	Buyer's net worth	Renter's net worth	Better off
5 years	$135,250	$196,844	Renting by $61,594
10 years	$289,218	$367,862	Renting by $78,644
25 years	$962,719	$1,149,540	Renting by $186,820

The answer depends on the assumptions. At 1% price growth over 10 years, renting wins by $179,700. Try your own rent, price and return. The main rent vs buy page explains how the model works and where it falls short.

medium confidence: MEDIAN price of single-family homes on the Island of Montreal, Q2 2026 (no MLS HPI benchmark is published for Montreal). QPAREB's August 2026 CMA release (Sept 4 2026, https://apciq.ca/en/montreal-cma-adjustment-period-continues-condominium-market-in-balance-2/) gives only y/y changes (+3% SF, +4% condo, +2% plex); secondary sources (nesto/WOWA) quote August 2026 CMA medians of $650,000 SF, $437,000-437,250 condo, $856,000 plex - unconfirmed against the primary. Residential buildings, Ville-Marie borough, per $100 of assessment: taxe fonciere generale 0.4631 + ARTM 0.0070 + voirie 0.0024 + dettes anciennes villes 0.0196 + service de l'eau 0.0831 + borough services 0.0391 + borough investments 0.0086 = 0.6229. Varies by borough (e.g. Le Plateau-Mont-Royal = 0.6511). Assessment is the 2026-2028 triennial roll (market value as of July 1, 2024 - roll dates not stated in the document, unconfirmed). PDF fetched from https://mtl.ged.montreal.ca/constellio/?collection=mtlca&portal=REPDOCVDM#!displayDocument/00000131262

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If you decide to buy: what to line up first

Three programs change the down payment math and all need paperwork before closing.

Open an FHSA now, even with nothing in it, so room starts accruing.Opening an FHSA ↗
Plan the Home Buyers’ Plan withdrawal (form T1036) with your RRSP issuer at least a few weeks before closing.Home Buyers’ Plan ↗
Tell your lawyer you are a first-time buyer so the land transfer tax rebate is claimed at closing.Ontario land transfer tax refund for first-time buyers ↗
Get a mortgage pre-approval and a rate hold (usually 90 to 120 days) before you shop.FCAC: getting pre-approved ↗

Common questions

Frequently asked questions

Is it cheaper to rent or buy in Montreal?: Month to month, owning the $483,500 benchmark condo apartment costs about $3,262.22 in year one (mortgage, tax, maintenance, insurance) against $1,346 of rent. Over 10 years, with 3% price growth and the renter investing the difference at 5%, renting comes out ahead by $78,644.
How long do I need to stay in Montreal for buying to pay off?: In the default scenario renting stays ahead for the whole 10 years. Buying needs faster price growth or a longer stay (after 25 years the gap is $186,820 in favour of renting).
What is the average rent in Montreal?: $1,346 a month for a two-bedroom apartment in CMHC's October 2025 Rental Market Survey, which covers purpose-built rentals. Newer buildings and condos rented by owners are usually higher.
What does a $483,500 condo apartment cost to carry?: About $3,262.22 a month in year one: the mortgage on $435,150 plus the CMHC premium at 4.5%, $251 of property tax, 1% of value a year for maintenance and $100 of insurance.

What changed in 2025 and 2026

Sources

Every figure on this page comes from one of these primary sources. Data last verified September 7, 2026.

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Data verified for tax year 2026: September 7, 2026 Updated September 7, 2026 By Nishant Malik, founder of GlassLayer

Rent vs Buy in Montreal (2026)

Rent vs buy in Montreal: three horizons

Other cities

If you decide to buy: what to line up first

Frequently asked questions

What changed in 2025 and 2026

Sources

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