Industry Statistics and Trends
Market size and recent performance (2016-2031)
Industry revenue has grown at a CAGR of 3.8 % over the past five years, to reach an estimated $73.3bn in 2026.
Trends and Insights
The supply-demand dynamic is stabilizing
- According to the Canada Mortgage and Housing Corporation, vacancy for purpose-built rental apartments climbed from 2.2% in 2024 to 3.1% in 2025, representing a four-year high. This signals a market shift from rapid rent growth to a more balanced supply-demand dynamic. This climb, primarily driven by a surge in new purpose-built rental completions (up 4.1% in 2024) and slower population growth, especially with reduced immigration levels, is causing rents to stabilize or drop in many markets after years of sharp increases.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2026-2031)
Market size is projected to grow over the next five years.
Trends and Insights
The supply of apartments will remain tight
- Canada’s purpose-built rental supply will remain structurally tight because construction, while at record levels, still lags the number of homes needed to restore affordability. CMHC estimates that Canada requires roughly 3.5 million additional homes by 2030, on top of baseline building, while current rental pipelines would add only a single-digit percentage to the existing apartment stock, even if every project were completed. High construction costs, financing challenges and zoning constraints mean many planned projects will be delayed, scaled back, or cancelled, especially outside central urban cores.
Biggest companies in the Apartment Rental in Canada
| Company | Market Share (%)
2026 | Revenue
2026 | Profit
2026 | Profit Margin (%)
2026 |
|---|
There are no companies that hold a market share exceeding 5% in the Apartment Rental in Canada industry.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Studio apartments, One-bedroom apartments and Two-bedroom apartments. Studio apartments is the largest segment of the Apartment Rental in Canada.
Trends and Insights
Studio apartments are less common, limiting revenue
- Studio units combine the bedroom, kitchen and living room into a single room and are categorized as containing no bedrooms. These units are typically more affordable for a single renter than owning a one-bedroom apartment.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Products and services covered in the Apartment Rental industry in Canada include Two-bedroom apartments, One-bedroom apartments, Apartments with three or more bedrooms and Studio apartments.Companies
Companies covered in the Apartment Rental industry in Canada include .Purchase this report to view all major companies in this industry.
Related Terms
Related terms covered in the Apartment Rental industry in Canada include dwelling, vacancy rate and real estate investment trust (reit).Industry Code
NAICS 53111 - Apartment Rental in Canada
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Rent growth has begun to decelerate. A historic gain in rental supply has tempered rent growth as landlords hold off on significant rent increases amid a rising vacancy rate.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2016-2025) and forecast (2026-2031)
- Employees, including historical (2016-2025) and forecast (2026-2031)
- Businesses, including historical (2016-2025) and forecast (2026-2031)
- Profit, including historical (2016-2026)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Middle-aged individuals are more likely to own a home. With more time to save and greater access to opportunities, 35- to 64-year-olds lean towards the permanency and dedicat...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2026
- Product innovation level
Charts
- Products & services segmentation in 2026
- Major market segmentation in 2026
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Vacancy surging to multi‑decade highs in British Columbia signals that supply and weaker population growth can bite. Landlords there face higher leasing risk, especially in t...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each province
- Share of population compared to establishments in each region in 2026
Tables
- Number and share of establishments in each province in 2026
- Number and share of revenue each province accounts for in 2026
- Number and share of wages each province accounts for in 2026
- Number and share of employees in each province in 2026
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Across provinces, new supply is increasingly concentrated in high‑end or recently built stock. This creates a two‑tier rental market where older units stay tight and affordab...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2021-2026
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
There are no companies that hold a market share exceeding 5% in the Apartment Rental in Canada industry.
Analyst insights
The largest lessors continue to acquire new properties. These owners of expansive portfolios of properties will be able to endure poor economic conditions and capitalize on e...
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Higher per capita disposable income means consumers have more cash to spend on living expenses. This can boost the rental market, as people are more willing to spend on rent.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2016-2031)
- Assistance historical data and forecast (2016-2031)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Utility costs are a growing pressure point. Energy‑hungry common areas and older, inefficient buildings mean landlords must invest in efficiency upgrades or risk steadily ero...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2019-2024)
- Coverage Ratios (2019-2024)
- Leverage Ratios (2019-2024)
- Operating Ratios (2019-2024)
- Assets (2019-2024)
- Liabilities (2019-2024)
- Cash Flow & Debt Service Ratios (2016-2031)
- Revenue per Employee (2016-2031)
- Revenue per Enterprise (2016-2031)
- Employees per Establishment (2016-2031)
- Employees per Enterprise (2016-2031)
- Average Wage (2016-2031)
- Wages/Revenue (2016-2031)
- Establishments per Enterprise (2016-2031)
- IVA/Revenue (2016-2031)
- Imports/Demand (2016-2031)
- Exports/Revenue (2016-2031)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2016-2031)
- IVA (2016-2031)
- Establishments (2016-2031)
- Enterprises (2016-2031)
- Employment (2016-2031)
- Exports (2016-2031)
- Imports (2016-2031)
- Wages (2016-2031)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
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.
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Canada include:
- Statistics Canada
- Industry Canada
- Canadian Business Patterns
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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