Estimate your monthly mortgage payment based on Montreal home prices. Montreal is Canada’s second-largest city and offers significantly more affordable housing than Toronto or Vancouver, while providing a vibrant cultural scene, growing tech sector, and strong transit infrastructure.
The average home price in Montreal is approximately $550,000. With 10% down ($55,000) and CMHC insurance, the total mortgage would be approximately $510,345. At a 4.25% interest rate over 25 years, the monthly mortgage payment would be $2,754.
5-year term summary:
25-year summary:
Montreal mortgage payment examples
| Home Price | Down Payment | Mortgage + CMHC | Monthly at 4% | Monthly at 5% | Monthly at 6% |
|---|---|---|---|---|---|
| $350,000 | $35,000 | $324,765 | $1,708 | $1,889 | $2,078 |
| $450,000 | $45,000 | $417,555 | $2,196 | $2,429 | $2,672 |
| $550,000 | $55,000 | $510,345 | $2,685 | $2,968 | $3,265 |
| $700,000 | $90,000 | $628,910 | $3,308 | $3,658 | $4,024 |
| $850,000 | $110,000 | $762,940 | $4,013 | $4,437 | $4,881 |
Montreal vs. Toronto comparison
| Factor | Montreal | Toronto |
|---|---|---|
| Average home price | $550,000 | $1,065,000 |
| Land transfer tax / welcome tax | $6,361 | $35,550 (double LTT) |
| Property tax rate | 0.87% | 0.77% |
| Monthly mortgage (10% down, 4.25%) | $2,758 | $4,607* |
| Municipal LTT? | Higher rates (built-in) | Yes (separate) |
| PST / QST rate | 9.975% QST | 8% Ontario PST |
| Provincial income tax | Higher | Lower |
Toronto requires 20% down on average home. Montreal’s lower prices save ~$400,000 on a similar lifestyle.
Montreal welcome tax (droits de mutation)
Montreal follows standard Quebec rates up to $552,300, then applies higher brackets that no other Quebec municipality is permitted to charge:
| Purchase Price Bracket | Montreal Rate |
|---|---|
| First $62,900 | 0.5% |
| $62,900 – $315,000 | 1.0% |
| $315,000 – $552,300 | 1.5% |
| $552,300 – $1,104,700 | 2.0% |
| $1,104,700 – $2,136,500 | 2.5% |
| $2,136,500 – $3,113,000 | 3.5% |
| Over $3,113,000 | 4.0% |
Example: On a $550,000 home in Montreal, the welcome tax would be approximately $6,361 (still under the $552,300 threshold where Montreal’s higher rates kick in, so it’s taxed at the standard provincial rates).
First-time buyer rebate (new for 2026) — Quebec introduced a refundable tax credit in April 2026, retroactive to January 1, 2026, that reimburses first-time buyers up to $5,875 of the welcome tax (full refund of the first $5,000, plus 25% of any remainder up to $875 more). It phases out for homes between $750,000 and $1,000,000, and requires no property ownership in the past 4 years. Payments begin fall 2026.
Montreal property taxes
Montreal’s property tax rate is approximately 0.87%, composed of municipal and school taxes:
| Home Price | Annual Property Tax | Monthly Equivalent |
|---|---|---|
| $350,000 | $3,045 | $254 |
| $450,000 | $3,915 | $326 |
| $550,000 | $4,785 | $399 |
| $700,000 | $6,090 | $508 |
Montreal also charges a separate school tax of approximately 0.10%, adding roughly $550/year on a $550,000 property.
Montreal housing cost breakdown
| Cost Category | Typical Monthly Range |
|---|---|
| Mortgage payment (on average home) | $2,600 – $2,900 |
| Property taxes (municipal + school) | $399 – $445 |
| Home insurance | $80 – $175 |
| Utilities & heating | $150 – $350 |
| Maintenance (1% of value/year) | $458 |
| Condo fees (if applicable) | $250 – $600 |
Total estimated monthly cost: $3,687 – $4,328 (house/plex) or $3,937 – $4,928 (condo)
Montreal housing by property type
Montreal has a unique housing stock compared to other Canadian cities, with plexes being a distinctive option:
| Property Type | Average Price | Monthly Payment (10% down, 4.25%) |
|---|---|---|
| Detached house (rare on island) | ~$750,000 | $3,756 |
| Plex (duplex/triplex) | ~$700,000 | $3,505 |
| Townhouse | ~$550,000 | $2,754 |
| Condo apartment | ~$430,000 | $2,153 |
Plexes are a Montreal specialty — buy a triplex, live in one unit, and rent the other two to offset your mortgage. A $700,000 triplex with two rental units generating $2,400/month in rent effectively reduces your effective mortgage cost to ~$1,100/month.
Montreal-specific homebuyer considerations
- Notary, not lawyer — Quebec real estate transactions use a notary instead of a lawyer. Fees are typically $1,500–$2,500.
- Higher income taxes — Quebec has the highest provincial income tax rates in Canada. Factor this into affordability calculations, as take-home pay will be lower even if your mortgage payment is less.
- Language requirements — Quebec’s language laws (Bill 96) may affect some buyers. Mortgage and legal documents may need to be in French. Most Montreal lenders offer bilingual service.
- REM transit — The new Réseau express métropolitain (REM) is expanding rapid transit access, potentially boosting property values near stations.
- Quebec home buyers’ tax credit — In addition to federal programs, Quebec offers a provincial homebuyers’ tax credit ($10,000 amount at Quebec’s 14% lowest rate) worth up to $1,400.
- First Home Savings Account (FHSA) — See the FHSA calculator.
Montreal housing market by area
- Downtown / Plateau / Mile End — Premium walkable neighbourhoods, condos $400,000–$600,000.
- Verdun / Villeray / Rosemont — Growing family neighbourhoods, plexes $600,000–$900,000.
- West Island — Suburban, English-speaking communities, detached homes $600,000–$900,000.
- South Shore (Longueuil / Brossard) — More affordable family communities ($400,000–$600,000), excellent REM access.
- Laval — North of Montreal, offering mid-range pricing ($450,000–$650,000).
For the latest data, see the Montreal housing market report.
Related calculators
- Quebec Welcome Tax Calculator — Calculate your Montreal welcome tax
- Quebec Mortgage Calculator — Provincial overview
- Mortgage Affordability Calculator — How much house can you afford?
- Closing Costs Calculator — Estimate all purchase costs