Estimating how much housing we’ll need by 2030

September 13, 2023 source: https://www.cmhc-schl.gc.ca/blog/2023/estimating-how-much-housing-we-need-by-2030

At-a-Glance

• We maintain our 2022 projection that Canada needs about 3.5 million additional housing units by 2030 to restore affordability.
• We expect housing demand to vary across the country due to evolving economic and demographic conditions.
• Most of Canada’s housing supply gaps are in Ontario and British Columbia. Quebec and Alberta are also projected to need more supply because of economic growth.
• A smaller overall housing stock in 2030 is projected from what we reported last year. The main reason for this decline is the current shortfall in housing construction.