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Apartment Rental in Canada Industry Data and Analysis
Revenue for Canadian apartment lessors has increased through the end of 2026. Apartment lessors collect rental income from rental properties, so market forces largely determine their rates. The supply of apartment rentals has grown more slowly than demand, driving up rental rates to the benefit of lessors. Favourable economic conditions and demographic trends throughout most of the period have driven demand growth. 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 risen at a CAGR of 3.8% over the past five years and will reach $73.3 billion through the end of 2026. This includes a 1.2% swell in 2026 alone. Climbing vacancies fueled by a historic gain in rental supply will decelerate rent growth in 2026. Higher interest and operating costs, rising vacancies, and increased use of tenant incentives have compressed landlord profit, causing profit to drop as a share of revenue since 2021.
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What's included in this industry analysis
IBISWorld's research coverage on the Apartment Rental industry in Canada includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Apartment Rental industry in Canada operates under the NAICS industry code 53111CA. 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. Related terms covered in the Apartment Rental industry in Canada include dwelling, vacancy rate and real estate investment trust (reit).
What's included in this industry?
Products and services covered in Apartment Rental industry in Canada include Studio apartments, One-bedroom apartments and Two-bedroom apartments.
What companies are included in this industry?
The Apartment Rental industry in Canada is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Apartment Rental industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Apartment Rental industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Apartment Rental industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Apartment Rental industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Apartment Rental industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Apartment Rental industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Apartment Rental industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Apartment Rental industry in Canada.
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Frequently Asked Questions
What is the market size of the Apartment Rental industry in Canada in 2026?
The market size of the Apartment Rental industry in Canada is $73.3bn in 2026.
How many businesses are there in the Apartment Rental industry in Canada in 2026?
There are 449k businesses in the Apartment Rental industry in Canada, which has grown at a CAGR of 6.3 % between 2021 and 2026.
How may import tariffs affect the Apartment Rental industry in Canada?
The Apartment Rental industry in Canada is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Apartment Rental industry in Canada?
The Apartment Rental industry in Canada is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Apartment Rental industry in Canada grown or declined over the past 5 years?
The market size of the Apartment Rental industry in Canada has been growing at a CAGR of 3.8 % between 2021 and 2026.
What is the forecast growth of the Apartment Rental industry in Canada over the next 5 years?
Over the next five years, the Apartment Rental industry in Canada is expected to grow.
What does the Apartment Rental industry in Canada include?
Two-bedroom apartments and One-bedroom apartments are part of the Apartment Rental industry in Canada.
How competitive is the Apartment Rental industry in Canada?
The level of competition is high and steady in the Apartment Rental industry in Canada.
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