This table contains data described by the following dimensions (Not all combinations are available): Geography (247 items: Carbonear; Newfoundland and Labrador; Corner Brook; Newfoundland and Labrador; Grand Falls-Windsor; Newfoundland and Labrador; Gander; Newfoundland and Labrador ...), Type of structure (4 items: Apartment structures of three units and over; Apartment structures of six units and over; Row and apartment structures of three units and over; Row structures of three units and over ...), Type of unit (4 items: Two bedroom units; Three bedroom units; One bedroom units; Bachelor units ...).

The rental price index in Canada increased by *** index points (+***%) since the previous quarter. Therefore, the index reached a peak in the fourth quarter of 2023 with ***** index points.The rent paid on average by households in a certain territory. These figures are seasonally adjusted, which means that the effect of seasonal variations was eliminated from the data.

Revenue for Canadian apartment lessors has gained through the end of 2025. Apartment lessors collect rental income from rental properties, so market forces largely determine their rates. The supply of apartment rentals has grown slower than demand, which has elevated rental rates for lessors' benefit. 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 dip in revenue until 2021. Revenue has climbed since 2022 as higher prices and strong demand have fuelled a robust rental market. Revenue has climbed at a CAGR of 1.7% over the past five years and will reach $67.6 billion through the end of 2025. This includes a 1.6% swell in 2025 alone. Climbing vacancies fueled by a historic increase in rental supply will limit rent growth in 2025. The urban population in Canada has continued to expand, fuelling demand for housing in recent years. The supply of apartment rental units has lagged behind demand growth, reflected in low vacancy rates across Canada. Major urban centres have had especially low vacancy rates in recent years. Disposable income has also grown despite significant economic volatility. This has given individuals more funds to cover living expenses, which has enabled lessors to raise rental rates. Despite skyrocketing rental prices, profit has declined because of rising operating costs and property taxes. Favourable macroeconomic conditions are expected to fuel demand for apartment rentals moving forward. Per capita disposable income will climb while vacancy rates remain low. Furthermore, immigration and urbanization growth will fuel rent growth in major cities, benefiting apartment rental providers. Demand will continue to outpace supply growth, prompting a revenue gain. Revenue will expand at a CAGR of 1.3% through the end of 2030, reaching $71.9 billion in 2030.

Potential renters, property owners and even property development professionals can gain valuable information from CMHC’s Rental Market Data. It can be used to price properties, stay competitive and even help determine ideal areas to build or rent. These tables offer a detailed statistical overview of Canada’s urban and rural rental markets. They offer housing professionals, researchers and renters detailed rental market data at the national, provincial and local levels. This includes data on vacancy rates, average rents and more for various types of rental housing across Canada.

After declining to 4.7 billion U.S. dollars in 2020, the equipment rental market in Canada is not expected to reach its 2019 levels until 2023. In comparison, the U.S. equipment rental market was sized at 48.5 billion U.S. dollars in 2020.

Commercial rents services price index (CRSPI) by North American Industry Classification System (NAICS). Monthly data are available from January 2006 for the total index and from January 2019 for all other indexes. The table presents data for the most recent reference period and the last five periods. The base period for the index is (2019=100).

This table contains data described by the following dimensions (Not all combinations are available): Geography (37 items: Census metropolitan areas; Saguenay; Quebec; Calgary; Alberta; Edmonton; Alberta ...).

Canada Luxury Residential Real Estate Market Report is Segmented by Property Type (Apartments & Condominiums, Villas & Landed Houses), by Business Model (Sales and Rental), by Mode of Sale (Primary (New-Build) and Secondary (Existing-Home Resale)), and by Province (Ontario, British Columbia, and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The Canada Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Mode of Sale (Primary and Secondary), Business Model (Sales and Rental) and Region/Province (Ontario, Quebec, British Columbia, Alberta and Rest of Canada). The Market Forecasts are Provided in Terms of Value (USD).

In 2023, the rental market in Canada saw the lowest vacancy rate for rental apartments during the observed period. Approximately 1.5 percent of apartments were unoccupied in 2023, down from 1.9 percent the year below. Saskatchewan was the province with the highest vacancy rate, whereas Prince Edward Island and Nova Scotia had the lowest share of unoccupied apartments.

TRREB Releases 2022 Q4 Rental Market Statistics Average condominium apartment rents continued to increase by double-digit annual rates in the fourth quarter of 2022. However, while market conditions remained tight enough to support very strong rent growth, there was more balance in the rental marketplace compared to the same period a year earlier in 2021. The number of condominium apartment rental transactions reported through the Toronto Regional Real Estate Board9s (TRREB) MLS® System was down on a yearover-year basis by 19.9 per cent in the fourth quarter of 2022. The number of rental listings was also down over the same period, but by a lesser annual rate of 11.8 per cent. The fact that the number of units leased was down by more than the number of units listed suggests that would-be renters benefitted from more choice compared to a year ago. "Strong population growth based on record immigration and robust job creation across a diversity of economic sectors drove rental demand in 2022. In addition, aggressive interest rate hikes by the Bank of Canada impacted affordability for many households, prompting a shift from homeownership to rental. All of these factors will continue to support strong rental demand in 2023," said TRREB President Paul Baron. The average rent for a one-bedroom condominium apartment increased by 19 per cent to $2,503 in the fourth quarter of 2022. Over the same period, the average two-bedroom rent increased by 14.1 per cent to $3,178. "Tight rental market conditions and strong rent increases will be the norm more often than not for the foreseeable future. On one hand, we will continue to experience strong rental demand in the GTA based on solid fundamentals. On the other hand, the persistent supply shortage will continue to result in strong competition between wouldbe renters, exerting upward pressure on rents. The solution is no secret: we need to see new policies pointed on more supply to translate into shovels in the ground for many years to come," said TRREB Chief Market Analyst Jason Mercer.

The summary statistics by North American Industry Classification System (NAICS) which include: operating revenue (dollars x 1,000,000), operating expenses (dollars x 1,000,000), salaries wages and benefits (dollars x 1,000,000), and operating profit margin (by percent), of lessors of residential buildings and dwellings (except social housing projects) (NAICS 531111), annual, for five years of data.

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Vacation Rental Market Size 2025-2029

The vacation rental market size is estimated to increase by USD 22 billion, growing at a CAGR of 4.1% between 2024 and 2029. The industry's expansion and the rising popularity of short-term vacation rentals are driving substantial market growth. The vacation rental market is experiencing significant growth, driven by the expanding tourism industry and the increasing preference for short-term stays in vacation rental properties. This trend is further fueled by the convenience of instant booking features, which allow travelers to secure their accommodations with ease. However, the market also faces challenges, including the risks associated with fraudulent vacation rental listings. These risks can lead to financial losses and safety concerns for travelers, making it crucial for market participants to prioritize security measures and transparency. Overall, the vacation rental market is poised for continued growth, with opportunities for innovation and improvement in areas such as customer experience, safety, and technology integration. The market's future looks promising, with opportunities for innovation in cultural tourism and enhancements in areas like customer experience, safety, and technology integration.

What will be the size of Market during the Forecast Period?

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Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019 - 2023 for the following segments.

Management

  Managed by owners
  Professionally managed


Method

  Offline
  Online


Type

  Home
  Apartments
  Resort/Condominium
  Others


Geography

  Europe

    UK
    France
    Italy


  North America

    Canada
    US


  APAC

    China
    India
    Japan


  Middle East and Africa

    South Africa


  South America

    Brazil

Which is the largest segment driving market growth?

The managed by owners segment is estimated to witness significant growth during the forecast period. Vacation rentals have emerged as a significant segment in the tourism industry, with B2C enterprises facilitating bookings through various sales channels. According to industry associations and third-party studies, vacation rentals account for a substantial portion of consumer spending on accommodation and features such as spas, with tourism spending projected to increase due to rising internet and device penetration. Forecasting techniques, such as time series forecasts and stationarity of data analysis, are used to estimate short-term trends in the vacation rental market.

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The managed by owners segment accounted for USD 48.5 billion in 2019 and showed a gradual increase during the forecast period. These estimates consider factors like rental homes in the accommodation segment, resorts segment, and booking modes, including offline and online. Market players invest in acquisitions and mergers to expand their offerings, with trends favoring short-term rentals and eco-friendly vacation rentals. Statistical offices and trade associations provide price indices to help owners set rental rates based on local market conditions, ensuring flexibility and competitiveness. Consumer preferences for privacy, space, and flexibility continue to drive demand for vacation rentals in the travel industry.

The vacation rental market has grown significantly with the rise of short-term rentals and vacation homes, supported by online booking platforms and property management solutions. Luxury vacation rentals cater to high-end travelers seeking unique travel experiences. HomeAway and Airbnb alternatives have expanded options for tourists, while local tourism benefits from the convenience of digital travel solutions. These trends are shaping the future of the vacation rental market, driving growth and innovation.

Which region is leading the market?

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Europe is estimated to contribute 32% to the growth of the global market during the market forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

The European vacation rental market is experiencing significant growth due to the rising travel trend and the preference for unique experiences over traditional accommodations. Travelers seek more personalized and cost-effective options, leading to the increasing popularity of vacation rentals such as hostels and camping sites. Ancient ruins and historical sites add to Europe's allure, making vacation rentals an attractive choice for tourists. However, the availability of properties and restrictions on ren

The Canadian property management industry witnessed robust growth in rental apartment supply in 2024, lifting national vacancy rates to 2.2%. The expansion in apartment supply was the most significant in over three decades. However, rental market conditions remained tight in crucial markets. The average rent for two-bedroom apartment units climbed 5.4% in 2024, highlighting sustained demand for apartment rentals. Affordability issues persisted since the completion of high-priced units bolstered the supply gain. The industry remained highly competitive, requiring agile adaptation strategies from property managers in response to slower rent growth, higher vacancies, evolving tenant preferences and affordability challenges. Nonetheless, revenue has grown at a CAGR of 0.2% to $9.8 billion through the end of 2025, including a 1.3% climb in 2025. Sustained demand for apartment rental will primarily drive revenue growth in 2025, as residential property management is the industry's largest market. The high cost of housing has continued to subvert the transition from renting to homeownership. Interest rate reductions by the Bank of Canada stimulated a 10.0% climb in home sales in 2024, yet homeownership is still out of reach for most Canadians. As Canadians stay longer in rentals, demand for residential property managers is expected to strengthen. On the other hand, the demand for commercial property management is mixed because of the complexity of commercial buildings, evolving workspace needs and the emergence of hybrid work models. Higher rental rates and lower vacancy rates have led to rising profit. The industry will enjoy growth through the end of 2030, with revenue rising at a CAGR of 1.4% to reach $10.5 billion in 2030. Continuous population growth and urbanization will significantly influence the industry's performance, increasing rental housing demand in major cities. Although interest rates have dropped, home ownership will remain elusive for most Canadians, which means Canadians will rent longer, sustaining demand for residential property management services. Technological advancements will fundamentally change the industry's operations, making Artificial Intelligence, the Internet of Things and automation key drivers of efficiency, sustainability and tenant-centric innovation. The next five years will also present regulatory changes that could add compliance burdens and influence market dynamics. Canadian property management will evolve and be characterized by data-driven portfolio management, tenant retention strategies, technological adoption and compliance with stricter environmental regulations and tenant protection measures.

The Car Rental industry has experienced volatility through the end of 2024. The industry endured a significant dip in revenue in 2020 because of COVID-19 and the associated drop in business and leisure travel within Canada. Despite this, the industry has performed well during most of the period. More travellers and increased spending on tourism before and after the pandemic have expanded industry revenue. Revenue is expected to climb at a CAGR of 0.4% to $6.3 billion through the end of 2024, including a 4.4% gain in 2024, when profit will reach 8.6%. The gain in revenue in 2024 can be mainly attributed to the ongoing domestic travel resurgence, a strengthen in inbound international travellers. During the period, the industry has continued to consolidate, leaving three dominant global brands, including Enterprise Holdings Inc. (Enterprise Holdings), Hertz Global Holdings Inc. (Hertz) and Avis Budget Group Inc. (Avis), with various degrees of solid market share. The industry has experienced several acquisitions over the past decade, including Hertz's acquisition of Dollar Thrifty, to gain market share in the leisure budget travel market. Shifting travel patterns, including a climb in demand at off-airport locations, which often have lower profit than airport rentals, have resulted in profit falling over the past five years. Increasing domestic travel, bolstered by an expanding Canadian economy, will raise demand for car rental services through the end of 2029. In addition to rising air travel, industry growth will be bolstered by growth in personal income and rebounding corporate travel budgets. Because of these trends, industry revenue is expected to climb at a CAGR of 1.5% to $6.8 billion through the end of 2029.

The Canada Commercial Real Estate Report is Segmented by Property Type (Offices, Retail, Logistics and More), by Business Model (Rental and Sales), by End Use (Individuals / Households, Corporates & SMEs and More) and by Region (Ontario, Quebec, Alberta and More). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

The construction, transportation, mining, forestry and agricultural markets that lease heavy machinery have weathered the tumult of the COVID-19 pandemic to push the Heavy Equipment Rental industry in Canada to growth. Growth in nonresidential construction activity, increased demand from air and rail transportation, alongside a rise in commodity prices have raised need for heavy equipment, even as the pandemic temporarily crippled economic activity in 2020. Consequently, industry revenue is expected to grow at a CAGR of 0.7% to $9.7 billion over the five years to 2023.While the industry has grown, volatility has been substantial. There was consistent demand for heavy equipment prior to the pandemic because of elevated commodity prices, which drove need from construction and transportation markets. However, the collapse in commodity prices because of the outbreak of COVID-19, as well as a temporary pause in most economic activity at the height of the pandemic, resulted in the largest single-year drop in industry revenue in decades. The rebound in commodity prices since has yielded growth in demand since, alongside strong, if uneven, growth in nonresidential and residential construction markets. With commodity prices tempering in 2023, industry revenue is forecast to rise at a more moderate 1.0% during the year. And while revenue has continued to grow, profit margins have not been spared by volatile demand swings, with profitability contracting over the current five-year period. The industry revenue is forecast to grow solidly as commodity prices remain high, despite the expectation that they will temper. The Bank of Canada, as well as other governments globally, have raised interest rates in an effort to curb inflation, dampening downstream demand. However, the Canadian economy has remained strong and construction activity is forecast to rise, despite the higher costs of borrowing. Perhaps most notably, demand from Canadian extraction markets is likely to remain elevated because of pressure from global turmoil, most notably the war in Ukraine. The industry is thus forecast to expand at an a CAGR of 2.1% to $10.8 billion over the five years to 2028.

Number of Businesses statistics on the Apartment Rental industry in Canada

In 2023, the Canada Real Estate Market reached a value of USD 302.4 million, and it is projected to surge to USD 428.4 million by 2030.

Canada Condominiums and Apartments Market size was valued at USD 95.76 Billion in 2024 and is projected to reach USD 149.21 Billion by 2032, growing at a CAGR of 5.7% from 2026 to 2032.

Canada Condominiums and Apartments Market Drivers

Concentration in Urban Centers: Canada's population is increasingly concentrated in major urban centers like Toronto, Vancouver, and Montreal, driving demand for high-density housing solutions like condos and apartments.

Immigration: Canada's immigration policies contribute to population growth, primarily in urban areas, further fueling demand for housing.

Rising Single-Family Home Prices: The escalating cost of single-family homes in major cities makes condominiums and apartments a more affordable housing option for many.

First-Time Homebuyers: Condos and apartments are often the entry point into the housing market for first-time buyers, particularly young professionals and couples.

Rental Market: The rental market is strong, and apartments provide a crucial housing option for those not ready or able to purchase.