Canadian Rental-Housing Market at ‘Critical Transition Point’

Canada's rental market is stabilizing with a national vacancy rate of 3.1% and an 18% decline in immigration, easing pressure on renters. However, apartment starts dropped sharply in Toronto and Vancouver, and project cancellations surged, risking a supply shortfall by 2028–2030. AI use in rentals is limited, with landlords benefiting more than renters. The market faces potential supply challenges if construction remains low.