February 1, 2024

For immediate release:

The Canada Mortgage and Housing Corporation (CMHC) is reporting rental market vacancy at 2.4% in Saskatchewan’s cities with populations over 10,000 people. Regina has a vacancy rate of 1.4%, compared to 3.2% in the year prior, with Saskatoon slightly higher at 2%, compared to 3.4% last year.

“Saskatchewan is experiencing significant population growth and our rental market can’t build units fast enough to keep up with demand”, stated Association CEO Cameron Choquette. “There are areas of our major cities with vacancy below 1%, which effectively means there are no places left to rent.”

CMHC’s Rental Market Report examines the purpose-built rental market and condominium apartment market annually, surveying rental housing providers from large municipalities across the province. The report indicates that across the province, rents have risen 8.2% on average from October 2022 to October 2023.

Rent increases cover the inflationary challenges that are facing rental housing providers such as increased property taxes, utilities, debt-servicing costs, and insurance. Even amidst these rent increases, Saskatchewan remains the most affordable province across the country.

“This report demonstrates that much more needs to be done to encourage and prioritize rental housing development so that we can capitalize on population growth and have enough homes for the people of Saskatchewan”, Choquette said. “We’re recommending that PST be removed from purpose-built rental construction and that the Government of Saskatchewan invest in a program that supports the renovation and retrofitting of existing rental stock”.

It is important to note that the report only includes rental structures that are privately initiated and have at least three rental units, which leaves out rental units such as basement suites and duplexes. The report can be viewed here.

For more information:

Cameron Choquette

Chief Executive Officer

eo@skla.ca / (306) 327-8460

As the voice of landlords in Saskatchewan we deliver knowledge, promote best practices, and advocate for a healthy and resilient rental housing industry. We are the leading community of industry professionals who are proud to provide safe, high-quality rental homes for the people of Saskatchewan.