Monitor our most recent coronavirus (COVID-19) updates.

Skip to content
CMHC Home Canada Mortgage
and Housing Corporation
  • Sign In or Register
  • FRANÇAIS
  • MENU
MENU
× FRANÇAIS
  • Home
  • Professionals
    • Project funding and mortgage financing
      • Funding programs
        • National Housing Co-Investment Funding
        • Innovation and research
        • Community (social) housing
        • Funding for Indigenous housing
        • National Housing Strategy Project Profiles
      • Mortgage loan insurance
        • Homeowner and small rental mortgage loan insurance
        • Homeowner Business Transformation (HBT)
          • Arrears Report Upload Tool - Coming 2022
          • Default Management Request Submission Tool
          • Homeowner Claims Submission Tool
          • User Access Management
        • Multi-unit mortgage loan insurance
          • MLI Select
        • Default, claims and properties for sale
        • Underwriting centre
        • emili
        • NHA approved lenders
        • Calculating GDS / TDS
        • Mortgage fraud
        • Contact mortgage loan insurance
        • Insured Mortgage Purchase Program (IMPP)
        • COVID-19: CECRA for small businesses has ended
      • Securitization
        • NHA Mortgage Backed Securities
        • Canada Mortgage Bonds
        • Canadian registered covered bonds
        • Blockchain in the housing industry
    • Housing markets, data and research
      • Housing markets
        • CMHC Reports Calendar
        • Housing market reports
        • Mortgage market and consumer reports
        • Rental Market Report
      • Housing research
        • Housing research reports
        • Housing surveys
        • Research awards and scholarships
        • Understanding core housing need
        • Collaborative Housing Research Network
      • Housing data
        • Data tables
          • Household characteristics data
          • Housing market data
          • Mortgage and debt data
          • Rental market data
        • Housing market information portal
        • Residential Mortgage Industry Data Dashboard
        • Housing in Canada Online (HiCO)
        • CMHC licence agreement for the use of data
        • Housing Knowledge Centre
    • Industry innovation and leadership
      • Housing innovation
      • Partnerships
      • Industry collaboration
      • Industry expertise
        • Affordable housing
        • Indigenous housing
        • Senior housing
        • Accessible and adaptable housing
        • Developing sustainable housing
        • Resources for mortgage professionals
        • CMHC e-newsletters
    • Events and speakers
      • Conferences
      • Speakers’ bureau
  • Consumers
    • Buying a home
      • Homebuying calculators
        • Mortgage calculator
        • Affordability calculator
        • Debt service calculator
      • Buying guides
        • Homebuying step by step
        • CMHC's condominium buyer's guide
      • Mortgage loan insurance for consumers
        • What is CMHC mortgage loan insurance?
        • Do I qualify for mortgage loan insurance?
        • CMHC mortgage loan insurance costs
        • CMHC Eco Plus
        • CMHC — home renovation financing options
        • FAQs — mortgage loan insurance
        • COVID-19: understanding mortgage payment deferral
      • First-time home buyer incentive
      • Incentives for homebuyers
      • Newcomers
    • Owning a home
      • Manage your mortgage
        • Mortgage fraud
        • Mortgage planning tips
        • Plan and manage your mortgage
        • Your credit report
        • Your home value
      • Aging in place
        • Housing options for Seniors
        • Housing and finance tips
        • Mortgage financing options for people 55+
        • Preventing fraud and financial abuse
    • Renting a home
      • I want to rent
        • Things to consider before renting
        • Types of housing for rent in Canada
        • Finding or advertising a rental property
        • Visiting the rental property
        • Lease and rental agreements
        • Signing the lease
        • Credit checks and bad credit
        • Rental payments and deposits
        • Roommates and pets
      • I am renting
        • Moving day
        • Landlord/Tenant responsibilities
        • Inspections
        • Maintenance and repairs
        • Complaints and evictions
        • Rent increases
        • When you can't pay rent
        • Renewing or terminating the lease
        • Moving out
      • COVID-19: eviction bans and suspensions to support renters
  • About CMHC
    • CMHC’s Story
    • Management and governance
      • Speakers’ bureau
      • Annual public meeting
      • Board of directors and committees
      • Our management committee
      • Pension governance
        • Pension overview
        • Key roles and responsibilities
        • Annual reports
    • Corporate reporting
      • CMHC annual report
      • Program evaluation
      • Quarterly financial reports
      • Joint auditors special examination report to CMHC board 2018
      • CMHC’s Insured Mortgage Deferral
      • Summary of the corporate plan
      • Transparency
        • Access to information and privacy protection
        • Accessibility at CMHC
        • Briefing materials
        • Procurement
        • Travel, hospitality and conference expenditures
    • Contact us
      • CMHC departments
        • Connect with a housing solutions specialist – multi-unit
        • Contact mortgage loan insurance
        • Indigenous and the North Housing Solutions
      • Granville lsland
      • Media relations
      • National office
      • Regional offices
      • Holiday service hours
    • Careers
  • Media Newsroom
    • Coronavirus (COVID-19) updates
    • Media relations
  • National Housing Strategy
    • What is the strategy?
      • About the initiatives
      • How to apply
      • Help and resources
      • Priority areas for action
      • The National Housing Strategy Glossary of Common Terms
    • Federal/Provincial/Territorial housing agreements
    • Other funding and financing opportunities
  • The Housing Observer
  • Careers
  • Housing Knowledge Centre
 
  • Home
  • The Housing Observer
  • Canada’s 2019 Rental Market Report on affordability
  • Save page to My Folder
    Save
  • Share this page
    Share

Impacts of Homeownership Barriers in Vancouver and Toronto

March 30, 2020

Save Icon

SAVE TO MY FOLDER

Impacts of Homeownership Barriers in Vancouver and Toronto

SAVE
Close this Window   |   Manage my Folder
Save Icon

SAVE TO MY FOLDER

Impacts of Homeownership Barriers in Vancouver and Toronto

Done Done!
Close this Window   |   Manage my Folder
Share icon

Share via

  • Facebook
  • LinkedIn
  • Mail
  • Twitter
  • print
Share icon

Share via

  • Facebook
  • LinkedIn
  • Mail
  • Twitter
  • print
share icon

Mail-blue Share via Email

Did You Know?

You can include an email signature?

Register | Sign In

×
Google Captcha Loader
share icon

Mail-blue Share via Email

Done Done!
Close this window

The Rental Market Report reveals high rental demand in Toronto and Vancouver. High rental demand also reflects lower affordability of homeownership in these cities. Some factors driving rental demand in Canada in general include:

  • High immigration
  • Economic conditions that support the formation of new households

High barriers to first-time homeownership have encouraged rental demand in Toronto and Vancouver. This places additional downward pressure on already-low vacancy rates and upward pressure on rents. This underscores the need for increased rental supply to ensure people in Canada have access to affordable housing.

Barriers to first-time homeownership remain high in Toronto and Vancouver

In Toronto, the Census Metropolitan Area (CMA) report notes, “…prices of multiple-family dwellings (such as condominium apartments and townhouses), which are typically more popular among first-time homebuyers, have shown stronger price growth than other housing types over the past 12 months, thus pushing demand towards the rental market…”

In Vancouver, the Census Metropolitan Area (CMA) report states, “…entry-level home prices continue to remain high relative to local incomes, resulting in many potential home buyers facing financial barriers to entry into homeownership. Some potential homebuyers may, therefore, choose to rent longer term, contributing to rental demand…”

While the supply of purpose-built rental units has been picking up in Toronto and Vancouver in recent years, demand growth has been stronger, partly due to high homeownership costs, which continues to keep vacancy rates low and rents increasing in these two cities.

Download the Rental Market Reports for more details on secondary rental condominium statistics

The Rental Market Survey gathers data and analysis for both the primary and purpose-built rental market as well as the secondary rental market. The primary rental market consists of units in privately initiated, purpose-built rental structures of three units or more. The secondary rental market covers condominium apartments offered for rent.

Download the 2019 Rental Market Reports now

National Housing Strategy’s goal is to create affordable housing

As a fundamental component of the National Housing Strategy, CMHC offers the Rental Construction Financing Initiative (RCFI) and the Affordable Housing Innovation Fund (AHIF). Both programs strive to improve both the affordability through the increased availability of rental units. If you are a Business, Municipality or Government official looking for funding, these initiatives can not only help improve Canada's rental housing supply, but also prove to be profitable.

Related Information

  • A Place to Call Home
  • Canada’s Vacancy Rates Declines
  • Average Rent in Canada Increases
  • Rental Market Report Data Tables

Was this page relevant to your needs?

Thank you for your feedback!

Sorry to hear that! Can you tell us about the problem?

Google Captcha Loader

For further assistance, please contact us

Thank you. Your feedback has been submitted.

Discover related content using the tags below:

  • Housing Market Information
  • Multi-Unit Residential Buildings
  • Rental Market Statistics
  • National Housing Strategy
  • Affordable Housing
Date Published: March 30, 2020

By Topic

  • Professionals
    • Project funding and mortgage financing
    • Housing markets data and research
    • Industry innovation and leadership
    • Events and speakers
  • Consumers
    • Home buying
    • Owning a home
    • Renting a home

About Us

  • CMHC's Story
  • Management and Governance
  • Partnerships
  • Corporate Reporting
  • Contact Us
  • Careers

More

  • CMHC e-Newsletters
  • CMHC Library
  • Housing Observer Online
  • Media Newsroom
  • CMHC on Twitter
  • CMHC on LinkedIn
  • CMHC on Facebook
  • CMHC on Instagram
  • CMHC on YouTube
Privacy Policy    |    Terms and Conditions    |    Transparency     Canada Mortgage and Housing Corporation (CMHC) ©2022 
Canada
loader icon