Apartment Rental in Canada - Industry Market Research Report

Moving In: Industry Revenue Growth Will Likely be Supported by Demand Outpacing Supply

Revenue for Canadian apartment lessors has grown in recent years. Apartment lessors collect rental income from properties they lease, where the rates they charge are largely determined by market forces. The supply of apartment rentals has grown at a slower rate than demand, which has elevated rental rates to the benefit of lessors. Favourable economic conditions and demographic trends during most of the period have driven growth in demand. In 2020, the spread of COVID-19 lessened demand for apartment rentals, but the nature of apartment leases prevented a decline in revenue until 2021. Revenue has grown since 2022 as higher prices and strong demand have fuelled a strong rental market. Revenue has been growing at a CAGR of 1.0% over the past five years, and is expected to reach $59.9 billion through the end of 2023. This includes a hike of 0.4% in 2023 alone.

Operators in the Apartment Rental industry in Canada act as lessors of buildings that are used as residences or dwellings. Industry participants are owner-lessors of residential buildings and establishments that rent real estate and then act as lessors by subleasing it to others. In addition to apartment rentals, the industry also includes attached and detached houses and row houses.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.