Median Plex Price by City on Montreal's North Shore (2026)
Market data by area and indicative estimates by city for income properties of 2 to 5 units. Source: APCIQ via Centris, April 2026 report.
Key figure — APCIQ April 2026
In 2026, the median price of a plex (2 to 5 units) on Montreal's North Shore is approximately $763,500, up 9% year over year, with a median selling time of approximately 25 days (source: APCIQ). In Laval it reaches ~$820,000, and in the Laurentians (Saint-Jérôme area) ~$640,000.
North Shore · Laval · Laurentians · APCIQ Data 2026
The plex market on Montreal's North Shore is posting one of the most active dynamics in Quebec in 2026. Two important clarifications are needed before using these figures.
First, APCIQ publishes statistics by geographic area, not by individual municipality. The city-level figures presented below are indicative estimates anchored to sector medians — they serve as benchmarks, but do not constitute validated market prices for a specific city.
Second, and fundamentally: the real value of an income property is not determined by the area median price, but primarily by the income approach (Value = NOI ÷ Cap Rate). Two identical plexes on the same street can differ in value by 15–20% based on their net rental income alone.
Median Price by Area — Quebec 2026
Official APCIQ statistics published via Centris (April 2026 report). Data covers properties of 2 to 5 units.
| Geographic area | Median plex price 2026 | Year-over-year change | Median selling time |
|---|---|---|---|
| Province of Quebec | $720,000 | — | ~44 days |
| Montreal CMA | $865,000 | — | ~45 days |
| Island of Montreal | $900,000 | — | — |
| Laval | $820,000 | +7%/yr | ~52 days |
| North Shore of Montreal | $763,500 | +9%/yr | ~25 days |
| Laurentians / Saint-Jérôme | $640,000 | +14%/yr | — |
| South Shore (context) | $819,000 | — | ~34 days |
Source: APCIQ via Centris, April 2026 report. Data covers 2-to-5-unit income properties. Year-over-year changes compare April 2026 to April 2025. Median selling times are approximations. This data does not constitute an official property appraisal.
Prices by city on the North Shore Indicative estimates
APCIQ does not publish medians for small individual cities. These estimates are anchored to sector medians and should be treated as approximate benchmarks only.
| City | Indicative estimate 2026 Unofficial | Reference sector | Notes |
|---|---|---|---|
| Terrebonne | ~$750,000 – $790,000 | North Shore ($763,500) | Active market, short timelines |
| Mascouche | ~$740,000 – $780,000 | North Shore ($763,500) | Limited supply, sustained demand |
| Repentigny | ~$745,000 – $785,000 | North Shore ($763,500) | Close to Montreal, sustained prices |
| Blainville | ~$760,000 – $800,000 | North Shore ($763,500) | Established residential sector |
| Boisbriand | ~$750,000 – $785,000 | North Shore ($763,500) | Highway access, mixed plexes |
| Rosemère | ~$760,000 – $800,000 | North Shore ($763,500) | Stable residential neighbourhoods |
| Sainte-Thérèse | ~$755,000 – $795,000 | North Shore ($763,500) | Downtown core, urban plexes |
| Saint-Eustache | ~$740,000 – $775,000 | North Shore ($763,500) | Expanding market |
| Deux-Montagnes | ~$720,000 – $760,000 | North Shore ($763,500) | Commuter train corridor |
| Mirabel | ~$720,000 – $760,000 | North Shore ($763,500) | Strong population growth |
| Lorraine / Bois-des-Filion | ~$750,000 – $785,000 | North Shore ($763,500) | Sought-after residential sectors |
| Saint-Jérôme | ~$620,000 – $660,000 | Laurentians ($640,000) | +14%/yr, rapidly rising market |
| Laval (reference) | ~$820,000 | Laval (official APCIQ) | Official sector figure |
These city-level estimates are indicative and derived from APCIQ sector medians (April 2026 report). They do not constitute official appraisals. Transaction volumes in small cities are often insufficient to produce a statistically reliable median. Consult a certified appraiser or use the income approach to estimate a specific property's value.
An area median price says nothing about a specific property's value. The income approach is the recognized method: Value = Net Operating Income (NOI) ÷ Cap Rate (TGA). A plex with below-market rents may be worth 15–20% less than the median; a well-rented property may exceed it. Use our Plex Assessment tool to estimate value based on your actual income.
What this data means for a seller
The North Shore shows the shortest median selling time observed, at approximately 25 days, compared to 44 days province-wide and 52 days in Laval. This speed is driven by sustained investor demand for yields more accessible than on the Island of Montreal, combined with limited supply in established sectors.
The +9% year-over-year increase is significant, but it does not mean every property gained 9% in value. Well-rented properties with solid net income appreciated more; those with below-market rents or deferred maintenance may have remained flat or even declined in value under the income approach.
To understand your plex's actual value, explore our interactive North Shore plex price map for sector trends, and use the Plex Assessment tool for an estimate based on your real net income. To understand cap rate and GRM metrics, read our guide understanding cap rate and GRM.
Factors that push plex prices above or below the median
The area median is a starting point, not a verdict. Several factors can move an individual property's value significantly in either direction.
Understanding what drives price variance helps both buyers and sellers interpret the data more accurately. On the North Shore, the following factors consistently explain why similar-sized plexes trade at materially different prices.
Property condition and deferred maintenance
Buyers apply an implicit risk discount for deferred maintenance — a roof near end of life, aging plumbing, or an outdated electrical panel can reduce an offer by $30,000–$60,000 on a mid-range triplex. Conversely, a recently renovated building with updated mechanicals commands a premium, since a buyer's financing and insurance costs are predictable from day one.
Actual rents vs. market rents
This is the single largest driver of value variance on income properties. A triplex with rents 20% below market — common for long-tenanted units governed by Quebec's Tribunal administratif du logement (TAL) rent-increase rules — may trade at a meaningful discount to the median, because the buyer cannot immediately capture market income. A fully rented building at current market rents will often trade above the area median, reflecting the lower income risk.
Capitalization rate and net operating income
On the North Shore in 2026, prevailing cap rates for 2-to-5-unit plexes range from approximately 4.5% to 5.5%, with a gross rent multiplier (GRM) of roughly 12 to 14× (source: APCIQ market observations, CMHC rental data). A property generating $55,000 in net operating income at a 5% cap rate is worth approximately $1,100,000 — well above the sector median — while one generating $35,000 NOI at the same cap rate would be valued at $700,000. The income approach dominates comparable-sales analysis for sophisticated buyers.
Precise location within the North Shore
The North Shore covers a large geographic area. Properties in established urban cores — Terrebonne, Repentigny, Sainte-Thérèse — tend to command prices near or above the sector median due to urban density and rental demand. More peripheral sectors such as Mirabel or Deux-Montagnes trade at the lower end of the range, reflecting longer commute times and thinner rental markets.
Year built and building configuration
Older buildings (pre-1970) often carry hidden costs — asbestos, knob-and-tube wiring, urea-formaldehyde insulation — that buyers price into their offers. Post-2000 construction commands a premium for lower operating costs and modern unit layouts. Buildings with separate utility meters per unit are valued higher than those with shared utilities, since they transfer energy cost risk to tenants.
Proximity to REM and commuter train lines
The REM (Réseau express métropolitain) expansion and the existing commuter train network are a growing price driver on the North Shore. Cities with direct or planned REM/commuter access — including Deux-Montagnes (Train de l'Ouest corridor), Mascouche, and Sainte-Thérèse — attract a premium from Montreal-based investors and tenants seeking car-optional commutes. As the REM network expands, this transit-proximity premium is expected to widen.
Prices by property type — duplex, triplex, fourplex, 5+ units
APCIQ groups 2-to-5-unit properties together in its official statistics. The table below provides indicative price ranges by unit count, anchored to the North Shore sector median of $763,500.
| Property type | Indicative price range 2026 Unofficial | Typical cap rate | Notes |
|---|---|---|---|
| Duplex (2 units) | ~$640,000 – $720,000 | 4.8 – 5.5% | Entry-level investors; owner-occupant buyers compete, compressing yields |
| Triplex (3 units) | ~$730,000 – $800,000 | 4.7 – 5.3% | Most liquid segment on the North Shore; matches sector median closely |
| Fourplex (4 units) | ~$790,000 – $860,000 | 4.5 – 5.2% | Better income diversification; CMHC APH Select financing eligible |
| 5+ units (small apartment) | Price per door more favourable | 4.5 – 5.0% | Commercial valuation rules apply; CMHC insured financing available at higher LTV |
These ranges are indicative estimates anchored to the APCIQ North Shore sector median (April 2026). APCIQ does not publish separate medians by unit count for this region. Cap rate ranges reflect ImmoMulti market observations. Individual properties may fall outside these ranges based on income, condition, and location. Source context: APCIQ via Centris, CMHC rental market report.
Once a property reaches 5 or more units, commercial mortgage rules typically apply, and lenders weight the income approach more heavily than comparables. CMHC insured financing (including the APH Select program) becomes available at higher loan-to-value ratios, which can support higher purchase prices relative to NOI. Use our APH Select estimator to model CMHC-insured financing scenarios.
2023 → 2026 price trend and outlook
Three distinct phases have shaped the North Shore plex market over the past three years — correction, stabilization, and rebound — driven largely by Bank of Canada monetary policy.
2023 — correction after Bank of Canada rate hikes
Following the Bank of Canada's most aggressive rate-tightening cycle in decades (the overnight rate peaked near 5% in mid-2023), income property buyers on the North Shore pulled back sharply. Financing costs rose by 150–200 basis points practically overnight, compressing returns. Transaction volumes fell, selling times lengthened, and some sellers who had listed at 2022 peak expectations were forced to accept discounts. The correction was most pronounced for plexes with thin net operating income — properties where the income barely covered debt service at new rates.
2024 — stabilization and the return of cautious buyers
As the Bank of Canada began its easing cycle in mid-2024 — cutting the policy rate from 5% toward 4% — buyer confidence began recovering. Transaction volumes on the North Shore stabilized, and selling times shortened. Investors who had sat on the sidelines during 2023 re-entered, particularly in the triplex and fourplex segment where yields remained attractive relative to other asset classes. Prices did not recover their 2022 peaks, but the market found a floor.
2025 — rebound driven by rate relief and supply constraints
Rate cuts continued through 2025, and by year-end the Bank of Canada policy rate had declined significantly. Combined with chronic undersupply of rental housing across Quebec — a structural issue recognized in CMHC's annual rental market reports — investor demand rebounded firmly. The North Shore benefited disproportionately, as its lower price point relative to the Island of Montreal offered better yield access for a wider pool of buyers.
2026 — active market, +9% year-over-year, limited supply
With the Bank of Canada policy rate settling near 2.75% in early 2026 (source: Bank of Canada), financing conditions have returned to levels that support income property investment at current rents and prices. The North Shore median of $763,500 represents a +9% year-over-year gain (source: APCIQ, April 2026 report), and the median selling time of approximately 25 days signals continued strong demand. Inventory remains constrained — motivated sellers remain few, and properties priced correctly on the income approach are receiving multiple offers.
Looking ahead, the key variables are Bank of Canada rate direction, Quebec rental supply growth (or lack thereof), and whether population growth on the North Shore continues to support rental demand. Current CMHC projections point to sustained vacancy tightness in the suburban Montreal rental market through at least 2027.
How to use this data when you want to sell — setting your price
The median is a market benchmark, not your sale price. Here is how to use area data correctly when preparing to sell your plex.
The median as a reference point, not a valuation
The North Shore median of $763,500 tells you what the typical 2-to-5-unit income property sold for in April 2026. It says nothing about your specific property's income, condition, or location within the sector. Listing at the median without anchoring your price to your property's actual net income is one of the most common mistakes plex sellers make — and it leads either to overpricing (long time on market, eventual discount) or underpricing (leaving value on the table).
Anchor your asking price to NOI ÷ Cap Rate
The recognized method for valuing income properties is the income approach: Value = Net Operating Income (NOI) ÷ Capitalization Rate. To apply it: calculate your gross rents, subtract vacancies (typically 2–4% on the North Shore), subtract operating expenses (property taxes, insurance, maintenance, management if applicable). The result is your NOI. Divide by the prevailing cap rate for your property type and location (4.5–5.5% on the North Shore in 2026) to arrive at an income-based value. This is the number serious buyers will calculate — your asking price should be defensible against it.
Optimize your rent roll before selling
If any units are rented below market, consider whether you can bring rents to market levels before listing — even a TAL-compliant rent increase applied 12 months before sale can meaningfully improve your property's income-based value. Document all recent rent increases and leases clearly; buyers and their lenders will request them.
Use our tools to build a defensible price
Before setting your asking price, use the Plex Assessment tool to estimate your property's value based on its actual income, and cross-reference with the cap rate calculator and GRM calculator to stress-test your assumptions. A well-supported asking price — grounded in income data, not just area medians — will hold up to buyer scrutiny and reduce the risk of price negotiations late in the process.
North Shore plex prices: your answers
In 2026, the median price of a plex (2 to 5 units) on Montreal's North Shore is approximately $763,500, according to APCIQ data published via Centris (April 2026 report). The median selling time is approximately 25 days, one of the shortest in the province. By comparison, the provincial median is approximately $720,000 and the Montreal CMA median is approximately $865,000.
Yes. The North Shore shows a year-over-year increase of approximately +9% (source: APCIQ, April 2026 report). The Laurentians (Saint-Jérôme area) are rising even faster, at +14% over the same period. This dynamic reflects sustained demand for income properties in accessible suburban markets.
APCIQ publishes statistics by geographic area, not by individual municipality. In smaller cities, transaction volumes are often insufficient to produce a statistically reliable median. The indicative city-level estimates in this article are anchored to official sector medians and should be treated as approximate benchmarks, not validated market prices.
The area median price is a useful benchmark, but the actual value of an income property is determined primarily by the income approach: Value = Net Operating Income (NOI) ÷ Capitalization Rate (Cap Rate). A plex with below-market rents will be worth less than a comparable well-rented property, regardless of the area median. Use our Plex Assessment tool or the cap rate calculator to get an estimate anchored to your actual net income.
The median selling time on the North Shore is approximately 25 days (source: APCIQ, April 2026 report), making it one of the most active markets in Quebec. This timeline varies by price, property condition, and rental income. Through a direct buyer like ImmoMulti, you can receive a firm offer within 48 hours and close in 30 to 45 days, with no showings or public listing.
Based on market observations anchored to the North Shore sector median of $763,500, indicative price ranges by property type are approximately: duplex (2 units) $640,000–$720,000; triplex (3 units) $730,000–$800,000; fourplex (4 units) $790,000–$860,000. Buildings of 5+ units typically offer a more favourable price per door, and commercial mortgage rules apply. Note that APCIQ groups 2-to-5-unit properties together in its official statistics, so these breakdowns are indicative estimates, not published medians.
After the Bank of Canada's aggressive rate hikes in 2022–2023, plex prices on the North Shore did experience a correction in 2023, with slower transaction volumes and longer selling times. However, 2024 brought stabilization, 2025 saw a rebound, and 2026 has recorded a +9% year-over-year increase (source: APCIQ, April 2026 report). With the Bank of Canada policy rate back near 2.75% in early 2026, financing conditions have improved significantly, supporting renewed investor demand and faster selling times.
The median price reflects what buyers paid for comparable properties in the area — it is a benchmark based on comparable sales. The income-approach value is calculated as: Value = Net Operating Income (NOI) ÷ Capitalization Rate. On the North Shore, cap rates currently range from approximately 4.5% to 5.5%. Two plexes at the same address can differ in value by 15–20% or more depending on their actual rents and expenses. For income properties, the income approach takes precedence over median comparables with serious buyers and lenders. Use our cap rate calculator to run the numbers for your property.
To maximize your plex's sale price on the North Shore, focus on the rent roll first: bringing all units to market rents before selling is the highest-impact action, since buyers value properties on income. Address visible deferred maintenance that affects perceived risk. Gather documentation — leases, expense history, recent invoices — to support your asking price. Proximity to transit (REM, commuter train) is a growing value driver worth highlighting in your listing. Use our Plex Assessment tool to estimate your property's income-based value before setting your price.
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