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Minister of Housing, Infrastructure and Communities Transition Binder (2025)
Book 4: Macro-economic Indicators: Canada and Large CMAs

Section A: Macro-economic Indicators for Housing and Infrastructure: Canada and Large CMAs

Housing Outlook

External Pressures

  • Volatility in U.S. trade policy and Canada’s response will create significant uncertainty on overall investments and prices.
  • Reduced immigration targets will likely lead to lower economic activity but also lower housing prices.

Macroeconomic Effects

  • Modest economic growth is expected in 2025, improving in 2026/27.
  • Further rate cuts are expected by the central bank in 2025.
  • Unemployment rates will rise until mid-2025 and decline in 2026/27.
  • Mixed outlook on housing market with slower population growth, economic challenges, and some increase in purchasing power.
Housing Outlook
Jurisdiction Housing Prices Housing Starts Resale Activity Rental Vacancies
Canada Prices will grow faster in 2025, slower in 2026/2027. Expected to slow down, but total starts remain above their 10-year avg. Expected to improve relative to housing starts but with uneven recovery. Rental supply will rise, and demand will fall, creating higher vacancies.
British Columbia Upward price pressures, mostly concentrated in 2025. Expected to rebound in 2025 after a weaker 2024. Rebound after declining sales the last 2 years, most prominently in 2025. Vacancy rates expected to stay historically high in the next few years.
Vancouver Average prices will increase to new highs by end of 2025. Expected to rebound in 2025 but may slow in 2026 and beyond. Rebound from lagged effects of low mortgage rates, mostly in 2025. More vacancies due to lower immigration and higher inventory.
Praries Upward pressure expected from competition among buyers. Modest decline expected in AB areas, growth in SK and MB areas. Expected to remain active with elevated sales and stronger demand. Expected to increase in 2025/2026 with higher supply in the future.
Edmonton Price growth expected but will taper towards 2027. High level of construction expected but with hesitancy from developers. Expected to remain active in 2025 following a busy 2024. Gradual increase with a strong expected growth in rental stock.
Calgary Higher price growth is forecasted. New construction expected to moderate slightly after high growth. Slight increase expected in 2025 after remaining flat in 2023/2024. Expected to rise in 2025 with supply outstripping slower demand.
Central Renewed upwards pressure in 2025 but will be mild. Expected to decline in 2025 for the fourth year in a row. Expected to increase due to more favourable economic outcomes. Strong growth expected in supply and decline in temporary residents.
Greater Toronto Projected to rise slightly in 2025, single digit rise through 2027. Expected to decline with fewer apartments and lower demand. Increased sales expected following low sales volume, but growth will be limited. Vacancy rates to rise due to higher supply and weaker demand.
Eastern Prices expected to rise in 2025 and stabilize. Rebound beginning in 2024 expected to continue. Rebound beginning in 2024 expected to continue. Slight increase expected in most eastern markets.
Ottawa Modest price rebound expected to continue since 2024. Expected to remain stable in 2025 after 2 years of declines. Resale to continue momentum gained in 2024. Vacancy rates to rise slightly due to growth in rental stock.
Gatineau Expected to increase slightly in 2025. Expected to decrease slightly in 2025 due to infrastructure capacity. Resale to continue momentum gained in 2024. Vacancy rates to remain low, but supply will increase.
Montréal Price growth expected in 2025, slowing down in 2026/2027. Housing starts expected to increase for a second consecutive year. Continued growth in 2025, due to increased income, and low interest rates. Rates to increase, as expected with increasing starts and population.

Sources: Analysis based on review of RBC’s Special Housing Reports, BMO’s Housing Outlooks, and CREA’S Housing Market Forecast for 2025 and 2026, which corroborate CMHC's housing outlook for 2025.

Canada

Statistics
2024 2016
Population 41,288,599 35,151,728
Unemployment Rate 6.3% 7.7%
Average Family Income $107,000 (2022) $111,235 (2015)
GDP at Basic Prices (million) $2,366,372 (2021) $1,889,103

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 1 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 9.39%
    2022 10.34%
    2023 10.14%
    2024 10.73%

Housing Price Index

Housing Price Index
  • Figure 2 - Text version
    Housing Price Index
    Year Toronto Montréal Vancouver Calgary Ottawa Edmonton Canada
    Housing Price Index (HPI) Values
    2016 198.4 151.3 251.7 200.4 149 204.1 189.8
    2017 238.8 159 273.7 198.1 154 204 220.1
    2018 238.1 169 295.3 202 164.6 205 229.3
    2019 236.8 178.3 261.5 196.8 174.7 200.3 220.6
    2020 252.7 194.2 259.3 194.2 198.7 198.8 225.3
    2021 291.6 223 280.8 201.4 247.7 206.3 258.9
    2022 396 275.8 337 226.9 290.5 220.5 339.2
    2023 340 264.8 316.4 240.8 260.3 212.1 296.9
    2024 340.7 275.1 331.9 265.1 267.6 217.9 299.8
    2025 342.2 293.1 333.6 275.5 281.6 244.3 300

Social Rental Housing

  • In 2022, social rental housing stock was 3.5% of total housing stock. In 2011 it was 3.4%. (Note: excludes SHQ Quebec units).
  • In 2022, Canada was below the OECD social rental housing stock avg of 7.1% and ranked 17th on this metric compared to the 33 other OECD countries.

Housing Metrics

Housing Metrics
Metrics 2016 2024 Change
Housing Start 197,916 245,367 19%
Housing Completion 172,882 196,747 12%
Vacancy Rate 3.70% 2.20% -68%
Home Ownership 69% 68% -1%
Rental Units 282,516 466,654 39%

Homelessness & Shelter Use

  • In 2023, there were 32,660 estimated shelter users experiencing chronic homelessness. This is an increase of 21.6% compared to a 2016 baseline.
  • In 2023, Canada's avg shelter occupancy rate of 80.4% decreased compared to an occupancy rate of 91% in 2016.

Infrastructure Investment & Depreciation

Infrastructure Investment & Depreciation
Infrastructure Investment & Depreciation 2016 2023 Change
Investment Private $2.38 billion $2.36 billion -1%
Investment Public $5.45 billion $6.22 billion 14%
Depreciation Private $1.74 billion $1.96 billion 13%
Depreciation Public $4.14 billion $4.67 billion 13%

Infrastructure Stock

  • In 2023, infrastructure stock for transport, and fuel and energy increased in both the public and private sectors. Overall, total infrastructure stock grew by 12% from 2016 to 2023.

CAPEX Ownership by order of government

  • In 2023, the federal government owned 14% of Canada’s public capital expenditures on infrastructure assets, (PT) governments owned 58%, and local and regional governments owned 29%.

Public Infrastructure Condition

  • In 2022, 14% of assets were in very poor or poor state, 21% in fair state, 56% in good or very good state, and 10% in unknown state.

Commuting & Public Transit

  • In 2024, 11.4% of commuters mainly used public transit (versus 12.6% in 2016). In 2024, the avg commute time was 26.4 min (which is approx. pre-pandemic level).

International comparison

  • In 2020, Canada ranked 2nd among G7 countries in total infrastructure investment as a percentage of GDP, behind Japan.

Replacement Value

  • Approximate cost to replace public infrastructure assets tracked in Canada: $2.76 trillion dollars (2022)

Average Age & Remaining Useful Life

  • From 2016 to 2023, the average age and remaining useful life of infrastructure assets in Canada remained constant at 13 years and 59%, respectively.

Climate Damages

  • Total major insured losses from climate-related weather events in 2024: $8.5 billion.

GHG Emissions: Transportation & Buildings

  • In 2022, transportation emitted 156 Mt of CO2e representing 22% of Canadian emissions. In 2016, transportation emitted 162 Mt also representing 22% of emissions.
  • In 2022, the buildings sector emitted just under 89 Mt of CO2e representing 12.5% of emissions. In 2016, buildings emitted 86 Mt representing 11.8% of emissions.

Toronto

Statistics
2024 2016
Population 7,106,379 5,928,040
Unemployment Rate 7.8% 7.7%
Average Family Income $126,300 (2022) $127,226 (2015)
GDP at Basic Prices (million) $473,663 (2021) $385,934
% Contribution to National GDP 20% (2021) 20%

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 3 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 9.08%
    2022 9.62%
    2023 9.92%
    2024 10.31%

Housing Starts and Completions

Housing Starts and Completions
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5-Year Change (2020 - 25)
Starts 39,027 38,738 41,107 30,462 38,587 41,898 45,109 47,428 44,990 47,303 23%
Completions 34,613 37,132 37,750 27,410 30,841 36,723 28,955 43,139 22,007 32,787 6%

Residential Building Permits Values

Residential Building Permits Values
2017 2018 2019 2020 2021 2022 2023 2024 5-Year Change (2019 - 24)
Total Residential 4,283,923 11,201,390 11,136,570 14,602,884 17,388,680 17,517,756 15,618,123 14,862,847 33%
Single Dwelling 2,141,847 3,833,276 3,826,007 4,143,099 5,340,992 5,244,018 4,513,123 4,352,936 14%
Multiple Dwelling 2,142,076 7,368,114 7,310,563 10,459,785 12,047,688 12,273,738 11,105,000 10,509,911 44%

Rental Unit count and Rental Vacancy Rate

Rental Unit count and Rental Vacancy Rate
2016 2017 2018 2019 2020 2021 2022 2023 2024
Units 116,685 123,855 129,547 137,794 144,863 155,568 168,274 183,241 207,925
Vacancy Rate 1.3% 1% 1.1% 1.5% 3.4% 4.6% 1.6% 1.4% 2.5%

Housing Price Index

Housing Price Index
  • Figure 4 - Text version
    Housing Price Index
    Year Housing Price Index (HPI) Values
    2016 198.4
    2017 238.8
    2018 238.1
    2019 236.8
    2020 252.7
    2021 291.6
    2022 396
    2023 340
    2024 340.7
    2025 342.2

Note: R² = 0.7557

Municipal Capital Expenditures

  • Annual 4-Year Average of the City of Toronto and its regions: $8.93 billion (2024-2027).
  • Per capita: $1,441 per CMA resident.

Public Infrastructure Condition

  • % of Toronto CMA’s infrastructure condition in 2022:
Condition of Assets
Condition Percentage
Very Poor 2%
Poor 6%
Fair 19%
Good 28%
Very Good 22%
Unknown 23%

Commuting & Public Transit

  • In 2024, 22.7% of commuters used public transit, up from 15.6% in 2021 but below 24.4% in 2016. Average commute time in 2024 was 33.3 min, up from 32.2 min in 2022, but below 34.1 min in 2016.

% of National Infrastructure Stock

  • % of national public infrastructure owned within Toronto CMA, across tracked asset categories in 2022: 7.57%.

Replacement Value

  • Approximate cost in 2022 to replace public infrastructure assets tracked within Toronto CMA: $209.2 billion.
Breakdown by Asset Category
Asset Group Funding
Active Transportation $5.3 billion
Bridges and tunnels $14.7 billion
Culture, recreation and sports $12.4 billion
Potable water $31.4 billion
Wastewater $42.8 billion
Stormwater $40.8 billion
Public transit $23.7 billion
Roads $37.3 billion
Solid waste $0.8 billion

Year of Construction

Significant Linear Assets (KM)
  • Figure 5 - Text version
    Significant Linear Assets (KM)
    Year Road Linear Water
    Prior to 1940 860 4,044
    1940 to 1969 3,756 9,443
    1970 to 1999 9,365 14,861
    2000 to 2009 3,383 5,957
    2010 to 2019 1,894 3,718
    2020 to 2022 421 427
    Unknown 1,439 3,879

Montréal

Statistics
2024 2016
Population 4,615,154 4,104,074
Unemployment Rate 6.3% 7.5%
Average Family Income $103,100 (2022) $103,883 (2015)
GDP at Basic Prices (million) $253,901 (2021) $200,945
% Contribution to National GDP 11% (2021) 11%

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 6 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 9.92%
    2022 10.67%
    2023 9.35%
    2024 10.02%

Housing Starts and Completions

Housing Starts and Completions
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5-Year Change
Starts 17,834 24,756 25,000 25,112 27,274 32,343 24,149 15,235 20,859 13,159 - 52%
Completions 19,047 20,558 21,650 23,024 24,376 23,222 25,740 20,817 24,798 20,056 - 18%

Residential Building Permits Values

Residential Building Permits Values
2017 2018 2019 2020 2021 2022 2023 2024 5-Year Change
Total Residential 2,626,504 6,801,313 6,437,322 6,951,016 7,617,093 7,567,948 7,059,832 6,748,866 -5%
Single Dwelling 628,900 1,467,118 1,482,618 1,639,321 2,258,326 2,119,293 1,502,078 1,481,191 0%
Multiple Dwelling 1,997,604 5,334,195 4,954,704 5,311,695 5,358,767 5,448,655 5,557,754 5,267,675 6%

Rental Unit count and Rental Vacancy Rate

Rental Unit count and Rental Vacancy Rate
2016 2017 2018 2019 2020 2021 2022 2023 2024
Units 28,453 32,178 34,198 35,346 40,354 40,708 44,925 45,181 49,502
Vacancy Rate 4.60% 2.90% 2.00% 1.60% 3.30% 3.50% 2.20% 1.90% 2.50%

Housing Price Index

Housing Price Index
  • Figure 7 - Text version
    Housing Price Index
    Year Housing Price Index (HPI) Values
    2016 151.3
    2017 159
    2018 169
    2019 178.3
    2020 194.2
    2021 223
    2022 275.8
    2023 264.8
    2024 275.1
    2025 293.1

Note: R² = 0.9393

Municipal Capital Expenditures

  • Annual 4-Year Average of Montreal’s ten major cities: $3.30 billion (2024-2027).
  • Per capita: $1,076 per included resident.

Public Infrastructure Condition

  • % of Montreal CMA’s infrastructure condition in 2022:
Condition of Assets
Condition Percentage
Very Poor 5%
Poor 8%
Fair 24%
Good 27%
Very Good 24%
Unknown 12%

Commuting & Public Transit

  • In 2024, 21.3% of commuters used Public Transit, up from 16.8% in 2022 and somewhat below 2016 levels (22.4%). Average commute time in 2024 was 29.0 min, up from 27 min in 2021 but below 30.0 min in 2016.

% of National Infrastructure Stock

  • % of national public infrastructure owned within Montréal CMA, across tracked asset categories in 2022: 5.04%.

Replacement Value

  • Approximate cost in 2022 to replace public infrastructure assets tracked within Montreal CMA: $139.3 billion.
Breakdown by Asset Category
Asset Group Funding
Active Transportation $6.6 billion
Bridges and tunnels $2.1 billion
Culture, recreation and sports $15.4 billion
Potable water $32.6 billion
Wastewater $33.7 billion
Stormwater $12.7 billion
Public transit $0.01 billion
Roads $36.0 billion
Solid waste $0.2 billion

Year of Construction

Significant Linear Assets (KM)
  • Figure 8 - Text version
    Significant Linear Assets (KM)
    Year Road Linear Water
    Prior to 1940 887 2,865
    1940 to 1969 3,190 10,570
    1970 to 1999 6,910 16,137
    2000 to 2009 2,888 6,057
    2010 to 2019 2,366 3,883
    2020 to 2022 1,334 2,654
    Unknown 1,091 1,411

Vancouver

Statistics
2024 2016
Population 3,108,941 2,463,431
Unemployment Rate 5.9% 5.8%
Average Family Income $114,300 (2022) $115,694 (2015)
GDP at Basic Prices (million) $183,140 (2021) $138,344
% Contribution to National GDP 8% (2021) 7%

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 9 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 9.84%
    2022 11.80%
    2023 12.26%
    2024 12.91%

Housing Starts and Completions

Housing Starts and Completions
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5-Year Change
Starts 27,914 26,204 23,404 28,141 22,371 26,013 25,983 33,244 23,954 30,648 37%
Completions 18,148 21,806 24,555 22,603 24,039 25,229 21,440 20,797 21,421 20,778 -14%

Residential Building Permits Values

Residential Building Permits Values
2017 2018 2019 2020 2021 2022 2023 2024 5-Year Change
Total Residential 2,927,941 7,656,117 7,048,083 7,947,639 8,116,048 9,786,611 8,439,078 8,267,614 17%
Single Dwelling 904,729 1,481,488 1,143,698 1,177,832 1,284,468 1,459,814 1,439,078 1,566,139 37%
Multiple Dwelling 2,023,212 6,174,629 5,904,385 6,769,807 6,831,580 8,326,797 7,000,000 6,701,475 13%

Rental Unit count and Rental Vacancy Rate

Rental Unit count and Rental Vacancy Rate
2016 2017 2018 2019 2020 2021 2022 2023 2024
Units 58,089 59,930 58,849 69,967 77,232 79,782 87,632 93,961 101,610
Vacancy Rate 0.70% 0.90% 1.00% 1.10% 2.60% 1.20% 0.90% 0.90% 1.60%

Housing Price Index

Housing Price Index
  • Figure 10 - Text version
    Housing Price Index
    Year Housing Price Index (HPI) Values
    2016 151.3
    2017 159
    2018 169
    2019 178.3
    2020 194.2
    2021 223
    2022 275.8
    2023 264.8
    2024 275.1
    2025 293.1

Note: R² = 0.6805

Municipal Capital Expenditures

  • Annual 4-Year Average of Vancouver’s ten major cities: $2.47 billion (2024-2027).
  • Per capita: $1,104 per included resident.

Public Infrastructure Condition

  • % of Vancouver CMA’s infrastructure condition in 2022:
Condition of Assets
Condition Percentage
Very Poor 5%
Poor 9%
Fair 21%
Good 29%
Very Good 21%
Unknown 15%

Commuting & Public Transit

  • In 2024, 20.5% of commuters used Public Transit, up from 16.3% in 2022. Avg commute time in 2024 was 30.5 min, up from 27.3 min in 2021 and slightly up from 29.8 min in 2016.

% of National Infrastructure Stock

  • % of national public infrastructure owned within Vancouver CMA, across tracked asset categories in 2022: 2.64%.

Replacement Value

  • Approximate cost in 2022 to replace public infrastructure assets tracked within Vancouver CMA: $72.9 billion.
Breakdown by Asset Category
Asset Group Funding
Active Transportation $4.3 billion
Bridges and tunnels $4.2 billion
Culture, recreation and sports $10.0 billion
Potable water $11.8 billion
Wastewater $13.6 billion
Stormwater $13.9 billion
Public transit $0.2 billion
Roads $14.7 billion
Solid waste $0.3 billion

Year of Construction

Significant Linear Assets (KM)
  • Figure 11 - Text version
    Significant Linear Assets (KM)
    Year Road Linear Water
    Prior to 1940 192 1,317
    1940 to 1969 1,094 5,414
    1970 to 1999 5,749 11,721
    2000 to 2009 2,107 2,841
    2010 to 2019 806 2,257
    2020 to 2022 157 455
    Unknown 227 1,155

Calgary

Statistics
2024 2016
Population 1,778,881 1,392,609
Unemployment Rate 7.6% 9.3%
Average Family Income $131,300 (2022) $162,881 (2015)
GDP at Basic Prices (million) $115,136 (2021) $101,118
% Contribution to National GDP 5% (2021) 5%

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 12 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 10.50%
    2022 12.68%
    2023 13.68%
    2024 13.81%

Housing Starts and Completions

Housing Starts and Completions
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5-Year Change
Starts 9,245 11,534 10,971 11,909 9,235 15,017 17,306 19,579 17,007 19,241 108%
Completions 13,239 11,014 9,732 11,134 10,705 10,774 13,641 15,111 13,483 14,936 40%

Residential Building Permits Values

Residential Building Permits Values
2017 2018 2019 2020 2021 2022 2023 2024 5-Year Change
Total Residential 1,383,490 3,490,114 3,521,079 3,836,445 4,590,251 4,842,491 5,065,619 5,661,115 61%
Single Dwelling 811,612 1,692,731 1,615,806 1,792,189 2,237,427 2,226,890 2,552,988 2,899,988 79%
Multiple Dwelling 571,878 1,797,383 1,905,273 2,044,256 2,352,824 2,615,601 2,512,631 2,761,127 45%

Rental Unit count and Rental Vacancy Rate

Rental Unit count and Rental Vacancy Rate
2016 2017 2018 2019 2020 2021 2022 2023 2024
Units 18,172 21,753 23,216 25,896 26,520 28,384 29,003 29,373 28,844
Vacancy Rate 6.90% 6.20% 3.90% 3.70% 6.50% 5.10% 2.70% 1.40% 4.80%

Housing Price Index

Housing Price Index
  • Figure 13 - Text version
    Housing Price Index
    Year Housing Price Index (HPI) Values
    2016 200.4
    2017 198.1
    2018 202
    2019 196.8
    2020 194.2
    2021 201.4
    2022 226.9
    2023 240.8
    2024 265.1
    2025 275.5

Note: R² = 0.7504

Municipal Capital Expenditures

  • Annual 4-Year Average of Calgary’s cities: $2.07 billion (2024-2027).
  • Per capita: $1,515 per included resident.

Public Infrastructure Condition

  • % of Calgary CMA’s infrastructure condition in 2022:
Condition of Assets
Condition Percentage
Very Poor 4%
Poor 5%
Fair 18%
Good 36%
Very Good 34%
Unknown 3%

Commuting & Public Transit

  • In 2024, 12.3% of commuters used public transit, up from 5.8% in 2022. Avg commute time in 2024 was 25.3 min in 2024, up from 24.3 min in 2021 and down slightly from 26.6 min in 2016.

% of National Infrastructure Stock

  • % of national public infrastructure owned within Calgary CMA, across tracked asset categories in 2022: 3.16%.

Replacement Value

  • Approximate cost in 2022 to replace public infrastructure assets tracked within Calgary CMA: $87.3 billion.
Breakdown by Asset Category
Asset Group Funding
Active Transportation $4.3 billion
Bridges and tunnels $3.4 billion
Culture, recreation and sports $4.4 billion
Potable water $19.5 billion
Wastewater $20.3 billion
Stormwater $15.2 billion
Public transit $5.4 billion
Roads $14.5 billion
Solid waste $0.3 billion

Year of Construction

Significant Linear Assets (KM)
  • Figure 14 - Text version
    Significant Linear Assets (KM)
    Year Road Linear Water
    Prior to 1940 224 319
    1940 to 1969 2,382 2,831
    1970 to 1999 5,605 12,155
    2000 to 2009 1,935 4,111
    2010 to 2019 2,384 3,266
    2020 to 2022 1,090 483
    Unknown 22 206

Ottawa

Statistics
2024 2016
Population 1,660,269 1,371,576
Unemployment Rate 5.7% 7.0%
Average Family Income $117,100 (2022) $121,444 (2015)
GDP at Basic Prices (million) $98,693 (2021) $76,579
% Contribution to National GDP 4% (2021) 4%

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 15 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 8.85%
    2022 8.46%
    2023 7.76%
    2024 7.61%

Housing Starts and Completions

Housing Starts and Completions
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5-Year Change
Starts 5,298 7,457 7,539 7,782 9,950 10,221 11,032 9,245 10,743 9,002 -10%
Completions 5,029 5,394 6,845 5,936 7,787 8,635 8,346 9,087 8,280 9,015 16%

Residential Building Permits Values

Residential Building Permits Values
2017 2018 2019 2020 2021 2022 2023 2024 5-Year Change
Total Residential 1,057,870 2,578,563 3,066,764 3,334,267 3,674,477 4,052,943 3,610,631 3,138,173 2%
Single Dwelling 564,725 1,163,469 1,217,522 1,223,074 1,574,561 1,489,651 1,102,864 1,056,309 -13%
Multiple Dwelling 493,145 1,415,094 1,849,242 2,111,193 2,099,916 2,563,292 2,507,767 2,081,864 13%

Rental Unit count and Rental Vacancy Rate

Rental Unit count and Rental Vacancy Rate
2016 2017 2018 2019 2020 2021 2022 2023 2024
Units 12,985 127,425 14,092 13,807 14,190 14,101 12,979 14,352 13,822
Vacancy Rate 3.40% 2.20% 1.50% 1.80% 3.40% 2.80% 1.90% 2.00% 2.50%

Housing Price Index

Housing Price Index
  • Figure 16 - Text version
    Housing Price Index
    Year Housing Price Index (HPI) Values
    2016 149
    2017 154
    2018 164.6
    2019 174.7
    2020 198.7
    2021 247.7
    2022 290.5
    2023 260.3
    2024 267.6
    2025 281.6

Note: R² = 0.8755

Municipal Capital Expenditures

  • Annual 4-Year Average of Ottawa’s cities: $1.50 billion (2024-2027).
  • Per capita: $1,121 per included resident.

Public Infrastructure Condition

  • % of Ottawa CMA’s infrastructure condition in 2022:
Condition of Assets
Condition Percentage
Very Poor 3%
Poor 8%
Fair 28%
Good 27%
Very Good 31%
Unknown 4%

Commuting & Public Transit

  • In 2024, 11.7% of commuters used public transit, up from 8.5% in 2022. Avg commute time in 2024 was 26.1 min, up from 23.6 min in 2021, and down slightly from 27.3 min in 2016.

% of National Infrastructure Stock

  • % of national public infrastructure owned within Ottawa CMA, across tracked asset categories in 2022: 2.97%.

Replacement Value

  • Approximate cost in 2022 to replace public infrastructure assets tracked within Ottawa CMA: $82.1 billion.
Breakdown by Asset Category
Asset Group Funding
Active Transportation $2.5 billion
Bridges and tunnels $4.0 billion
Culture, recreation and sports $3.0 billion
Potable water $19.2 billion
Wastewater $12.1 billion
Stormwater $14.6 billion
Public transit $4.2 billion
Roads $22.2 billion
Solid waste $0.4 billion

Year of Construction

Significant Linear Assets (KM)
  • Figure 17 - Text version
    Significant Linear Assets (KM)
    Year Road Linear Water
    Prior to 1940 1,790 6,321
    1940 to 1969 1,852 3,015
    1970 to 1999 4,028 7,546
    2000 to 2009 1,510 2,438
    2010 to 2019 1,465 2,558
    2020 to 2022 552 954
    Unknown 415 557

Edmonton

Statistics
2024 2016
Population 1,631,614 1,321,441
Unemployment Rate 7.6% 8.5%
Average Family Income $117,300 (2022) $141,238 (2015)
GDP at Basic Prices (million) $93,271 (2021) $86,839
% Contribution to National GDP 4% (2021) 5%

Investment in Building Construction (% of 2021 GDP)

Investment in Building Construction (% of 2021 GDP)
  • Figure 18 - Text version
    Investment in Building Construction (% of 2021 GDP)
    Year Investment (% as of 2021 GDP)
    2021 7.61%
    2022 8.35%
    2023 7.97%
    2024 10.07%

Housing Starts and Completions

Housing Starts and Completions
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5-Year Change
Starts 10,036 11,435 10,038 10,720 11,512 12,546 14,586 13,184 14,451 13,062 13%
Completions 15,123 10,753 10,091 10,384 11,363 11,277 11,866 13,976 11,491 13,534 19%

Residential Building Permits Values

Residential Building Permits Values
2017 2018 2019 2020 2021 2022 2023 2024 5-Year Change
Total Residential 1,440,114 3,118,125 2,480,973 2,848,041 3,198,004 3,432,864 3,664,651 4,468,194 80%
Single Dwelling 843,109 1,574,801 1,170,572 1,303,872 1,538,762 1,617,559 1,963,508 2,005,336 71%
Multiple Dwelling 597,005 1,543,324 1,310,401 1,544,169 1,659,242 1,815,305 1,701,143 2,462,858 88%

Rental Unit count and Rental Vacancy Rate

Rental Unit count and Rental Vacancy Rate
2016 2017 2018 2019 2020 2021 2022 2023 2024
Units 15,904 20,258 20,186 21,382 21,778 22,659 23,444 24,647 19,314
Vacancy Rate 7.10% 7.00% 5.30% 4.90% 7.20% 7.30% 4.30% 2.40% 3.10%

Housing Price Index

Housing Price Index
  • Figure 19 - Text version
    Housing Price Index
    Year Housing Price Index (HPI) Values
    2016 204.1
    2017 204
    2018 205
    2019 200.3
    2020 198.8
    2021 206.3
    2022 220.5
    2023 212.1
    2024 217.9
    2025 244.3

Note: R² = 0.5763

Municipal Capital Expenditures

  • Annual 4-Year Average of Edmonton’s cities: $1.64 billion (2024-2027).
  • Per capita: $1,287 per included resident.

Public Infrastructure Condition

  • % of Edmonton CMA’s infrastructure condition in 2022:
Condition of Assets
Condition Percentage
Very Poor 6%
Poor 7%
Fair 22%
Good 29%
Very Good 29%
Unknown 7%

Commuting & Public Transit

  • In 2024, 9.6% of commuters used public transit, up from 8.5% in 2022. Avg commute time in 2024 was 25.6 min, up from 23.9 min in 2021, and down slightly from 26.0 in 2016.

% of National Infrastructure Stock

  • % of national public infrastructure owned within Edmonton CMA, across tracked asset categories in 2022: 1.28%.

Replacement Value

  • Approximate cost in 2022 to replace public infrastructure assets tracked within Edmonton CMA: $35.2 billion.
Breakdown by Asset Category
Asset Group Funding
Active Transportation $1.7 billion
Bridges and tunnels $3.6 billion
Culture, recreation and sports $3.1 billion
Potable water $2.9 billion
Wastewater $1.9 billion
Stormwater $1.8 billion
Public transit $3.5 billion
Roads $16.3 billion
Solid waste $0.3 billion

Year of Construction

Significant Linear Assets (KM)
  • Figure 20 - Text version
    Significant Linear Assets (KM)
    Year Road Linear Water
    Prior to 1940 756 64
    1940 to 1969 4,116 2,115
    1970 to 1999 4,067 5,235
    2000 to 2009 1,209 1,661
    2010 to 2019 928 1,285
    2020 to 2022 118 268
    Unknown 408 165

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