Canada Needs 417,000–469,000 New Housing Units Annually, CMHC Reports
Canada Mortgage and Housing Corporation released new data on September 10 revealing the country faces a critical housing shortage, requiring between 417,000 and 469,000 new units per year across ownership and rental markets.
Housing Deficit Quantified
Canada Mortgage and Housing Corp. said between 417,000 and 469,000 new housing units are needed per year across ownership and rental markets. This finding, released September 10, 2026, underscores the scale of Canada's affordable housing crisis.
The report builds on a year of escalating concern about housing availability and affordability across the country. Current construction and development rates have not kept pace with population growth and demand, leaving many Canadians—especially newcomers and young families—struggling to find affordable rental or purchase options.
What This Means for You
As a foreigner settling in Canada, this housing shortage is likely to affect you directly. Rental and purchase prices will remain elevated in competitive markets like Toronto, Vancouver, and Montreal. Budget generously for housing and start your search early. Government initiatives to speed up housing development and reduce barriers may eventually increase supply, but relief is unlikely in the short term. Consider secondary markets outside major urban centres if flexibility allows.
Sources
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