Abstract The discovery of two dimensional (2D) materials that have excellent piezoelectric response along with intrinsic magnetism is promising for nanoscale multifunctional piezoelectric or spintronic devices. Piezoelectricity requires non-centrosymmetric structures with an electric band-gap, whereas magnetism demands broken time-reversal symmetry. Most of the well-known 2D piezoelectric materials – e.g., 1H-MoS2 monolayer – are not magnetic. Being intrinsically magnetic, semiconducting 1H-LaBr2and 1H-VS2 monolayers can combine magnetism and piezoelectricity. We compare piezoelectric properties of 1H-MoS2, 1H-VS2 and 1H-LaBr2 using density functional theory. Our results show that ferromagnetic 1H-LaBr2 2D monolayer displays a larger piezoelectric strain co-efficient (d_{11}= -4.527 pm/V, which is close to d_{11}= 4.104 pm/V of 1H-VS2 monolayer) compared to that of well-known 1H-MoS2 monolayer (d_{11}= 3.706 pm/V), while 1H-MoS2 monolayer has a larger piezoelectric stress co-efficient (e_{11}= 370.675 pC/m) than the 1H-LaBr2 monolayer (e_{11}= -94.175 pC/m, which is also lower than e_{11}= 298.100 pC/m of 1H-VS2 monolayer). These in-plane piezoelectric d_{11} coefficients are quite comparable with piezo-response of bulk wurtzite nitrides – e.g., d_{33} of GaN is about 3.1 pm/V. The large d_{11} for 1H-LaBr2 monolayer originates from the low elastic constants, C_{11}= 30.338 N/m and C_{12} = 9.534 N/m. Interestingly, the sign of the piezoelectric co-coefficients for 1H-LaBr2 monolayer is different to that of the 1H-MoS2 or 1H-VS2 monolayers. The negative sign arises from the negative ionic contribution of e_{11}, which dominates in the 1H-LaBr2 monolayer, whereas the electronic part of e_{11} dominates in 1H-MoS2 and 1H-VS2. Furthermore, we explain the origin of this large ionic contribution of e_{11} for 1H-LaBr2 in terms of the Born effective charges (Z_{11}) and the sensitivity of the atomic positions to the strain (\frac{du}{d\eta}). Surprisingly, we observe a sign reversal in the Z_{11} of Mo and S compared to the nominal oxidation states, which makes both the electronic and ionic parts of e_{11} positive, and results in the high value of e_{11}. Additionally, our interatomic bond analysis using crystal orbital Hamilton populations indicates that the weaker covalent bond in 1H-LaBr2 monolayer is responsible for large \frac{du}{d\eta} and elastic softening (lower elastic constants).