🎯 Calculate your buying capacity
Condo or plex? Estimate your budget and down payment in 2 minutes.
Buyer calculator →Buying a condo or a plex in 2026 in Quebec? QPAREB data from January 2026 shows two markets evolving at very different speeds: the median condo is stabilizing at $428,000 (+2%), while the plex jumps to $841,800 (+8%). Here is a detailed comparison to help you choose the investment vehicle that matches your profile.
📊 Prices and 2026 trends
$428,000
Median condo (+2%)
$841,800
Median plex (+8%)
$615,000
Single-family (+4%)
The plex segment is growing four times faster than the condo segment. Why? Record rental demand in Montreal is pushing investors toward income properties, creating upward pressure on duplex and triplex prices. Meanwhile, the condo suffers from a more abundant inventory that moderates price increases.
💡 Context: the Bank of Canada policy rate is at 2.25%, with 5-year fixed rates at 3.69% and variable rates at 3.35%. These rates are favorable for both types of purchase.
💰 Down payment and financing
The down payment is often the first obstacle. Here is the direct comparison between condo and plex:
Condo (5%)
$21,400
+ CMHC insurance ~4%
Owner-occupied plex (10%)
$84,180
+ CMHC insurance ~3.1%
Investor plex (20%)
$168,360
No CMHC insurance
⚠️ Key rule: for a 2-4 unit plex occupied by the buyer, the minimum down payment is 5-10% with CMHC insurance. If you do not occupy the plex, you need a minimum of 20% and no CMHC insurance is available.
With a 5-year fixed rate of 3.69% and a 25-year amortization, the monthly mortgage payment for a condo at $428,000 (5% down) is approximately $2,190/month, compared to $4,080/month for a plex at $841,800 (10% down).
💸 Rental income and returns
This is where the plex clearly stands out from the condo. Rental income from a plex helps pay the mortgage, significantly reducing the net cost for the owner.
🏢 Condo
Rental income: $0 (unless rented)
Rental yield if rented: 3-4%
Appreciation: +2%/year (2026)
Condo fees: $250-500/month
🏠 Plex
Rental income: $1,600-3,800/month
Gross rental yield: 4-6%
Appreciation: +8%/year (2026)
No condo fees
The GRM (Gross Revenue Multiplier)
GRM = purchase price ÷ gross annual rental income
✅ Good GRM in Montreal: 12x to 16x
Example: plex at $840,000 with $60,000/year in rents = GRM of 14x
⚠️ Management and risks
Each type of property comes with its own management challenges and risks.
Condo — Risks
💳 Unpredictable condo fees
🏦 Insufficient contingency fund
👥 Condo association decisions
📉 Possible special assessment
Plex — Risks
🔧 Repairs at your expense
👥 Tenant management
⚖️ Administrative tribunal (TAL)
🏠 Rental vacancy
⚠️ TAL and rents: in Quebec, rent increases are regulated. A plex with below-market rents can reduce your actual return. Check the leases and rent history before buying.
👤 Which investor profile?
✅ Condo = ideal if…
Beginner investor
Passive investor (no management)
Limited budget (~$21,000 down)
Looking for simplicity
✅ Plex = ideal if…
Experienced or willing to learn
Active investor (direct management)
Higher budget (~$84,000+)
Looking for maximum returns
📋 Condo vs plex comparison table
| Criteria | Condo | Plex |
|---|---|---|
| 2026 median price | $428,000 | $841,800 |
| Annual increase | +2% | +8% |
| Min. down payment | 5% ($21,400) | 10% ($84,180) |
| Rental income | $0 (unless rented) | $1,600-3,800/month |
| Gross yield | 3-4% (if rented) | 4-6% |
| Management | Passive (association) | Active (tenants) |
| Risk level | Moderate | High |
| Ideal profile | Beginner / passive | Experienced / active |
Ready to invest? Estimate your capacity
Calculate your down payment, your budget and compare condo vs plex scenarios.
Related articles
Restez informé du marché immobilier
Recevez nos analyses et conseils chaque semaine, directement dans votre boîte courriel.