Insight
Canada's Housing Shortage Explained
A shortage shows up in several official measures at once: population growing faster than completions, low rental vacancy and rising rents.
Updated 2026-11-12
Population
41,798,407persons
+0.5% vs one year earlier
Jul 1, 2026 · Statistics Canada
Housing starts (SAAR)
248,896units, annualized
−11.3% vs 12 months earlier
Sep 2026 · CMHC
Seasonally adjusted annual rate, not an actual monthly count.
Supply relative to growth
| Metro | Value |
|---|---|
| Vancouver B.C. | 440 per 100 |
| Kitchener–Cambridge–Waterloo Ont. | 210 per 100 |
| Kelowna B.C. | 142 per 100 |
| Sherbrooke Que. | 108 per 100 |
| Victoria B.C. | 104 per 100 |
| Montréal Que. | 98 per 100 |
| Kingston Ont. | 78 per 100 |
| Trois-Rivières Que. | 77 per 100 |
| Québec City Que. | 74 per 100 |
| Moncton N.B. | 62 per 100 |
Vacancy
Vacancy rates in purpose-built rentals are the most direct official sign of tight rental supply.
| Metro | Value |
|---|---|
| Kelowna B.C. | 6.30% |
| Calgary Alta. | 5.00% |
| Kitchener–Cambridge–Waterloo Ont. | 4.20% |
| Barrie Ont. | 4.20% |
| Edmonton Alta. | 3.90% |
| London Ont. | 3.90% |
| Vancouver B.C. | 3.70% |
| Oshawa Ont. | 3.70% |
| Moncton N.B. | 3.70% |
| Hamilton Ont. | 3.60% |
What we don't claim
Official agencies publish different estimates of how many homes are needed, using different assumptions. We show the measured data and leave projections to their authors.
Sources
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.