What is the average condo price in Montreal in 2026?

The median condo price in Montreal is approximately $428,000 in 2026, up ~2% from 2025. Prices range from ~$350,000 in the East to over $550,000 downtown.

Can you buy a condo alone in Montreal?

Yes, a single buyer earning around $75,000 can qualify for a condo around $350,000-$400,000. By combining the FHSA ($40,000) and HBP ($60,000), the down payment is achievable.

Can you use the FHSA to buy a condo?

Yes, the FHSA allows you to save up to $40,000 for a first home purchase, including a condo. Contributions are tax-deductible and withdrawals for purchase are tax-free.

What are the costs beyond the condo price?

Beyond the price: notary fees ($1,500-$2,500), welcome tax (varies by price), pre-purchase inspection (~$500-$700), monthly condo fees ($200-$500/month), and mortgage insurance if down payment is less than 20%.

Is it better to buy or rent a condo in Montreal?

In 2026, with mortgage rates around 3.69% and rising rents, buying is generally advantageous if you plan to stay 5+ years. Mortgage payments build equity, unlike rent.

Buying a Condo in Montreal 2026: Complete Guide

🎯 Calculate your borrowing capacity for a condo

Find out the maximum price you can afford

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Condos remain the most accessible way to become a homeowner in Montreal in 2026. With a median price of $428,000 (+2% vs 2025) and the FHSA and HBP programs, the down payment is no longer an insurmountable obstacle.

📊 Montreal Condo Market 2026

$428,000

Median condo price

+2%

Increase vs 2025

~3.69%

5-year fixed rate

Montreal’s condo market is balanced in 2026. Inventory is sufficient for buyers to take their time, while maintaining moderate upward pressure on prices.

💰 Down Payment and Financing

The minimum down payment is 5% for properties under $500,000. Here’s how to maximize your down payment:

$40,000

FHSA (lifetime limit)

$60,000

HBP (per person)

$100,000

Combined total

💡 Tip: for a $428,000 condo, the minimum down payment (5%) is $21,400. By combining FHSA and HBP, you can easily cover 20% ($85,600) and avoid CMHC insurance.

📋 Condo Fees to Verify

1. 💵 Monthly fees — Typically $200-$500/month, covering maintenance, insurance, administration

2. 🏦 Contingency fund — Must represent at least 5% of annual budget (Bill 16)

3. ⚠️ Special assessments — Check for upcoming ones (roof, elevator, facade)

4. 📄 Board minutes — Read the last 2 years to detect issues

🏠 Best Affordable Neighbourhoods for a Condo

1. 🏙️ MHM — ~$428,000, 5 metros, revitalizing rapidly

2. 🌊 Verdun — ~$440,000, canal access, vibrant neighbourhood life

3. 🏞️ LaSalle — ~$395,000, St. Lawrence riverfront, family-friendly

4. 🏡 RDP — ~$375,000, spacious condos, nature access

5. 🏘️ Saint-Leonard — ~$385,000, community-oriented, affordable

⚖️ Divided vs Undivided Co-ownership

✅ Divided

Your own cadastral lot

Standard financing (5% min)

Easier resale

Condo syndicate governance

⚠️ Undivided

Share of a common lot

20% minimum down payment

More complex resale

Agreement between owners

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