January 2, 2025  

For immediate release: 

The Canada Mortgage and Housing Corporation (CMHC) is reporting a provincial vacancy rate of 2.7% in Saskatchewan’s cities with populations over 10,000 people, compared to 2.4% in 2023.  

Regina has a vacancy rate of 2.7%, compared to 1.4% in 2023, with Saskatoon posting a vacancy rate of 2.1% in 2024, which is unchanged from the year prior.  

“Saskatchewan’s rental housing providers have barely kept pace with the increased rental demand posed by international migration”, stated RHSK CEO Cameron Choquette. “Vacancy rates of less than 3% do not provide the diverse selection of rental housing required for a growing province”  

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 7.9% on average from October 2023 to October 2024.  

Rent increases cover the significant cost increased that are facing rental housing providers such as utilities, government fees and taxes, debt-servicing costs, rent arrears, damages, and insurance. Even amidst these rent increases, Saskatchewan remains the most affordable province in Canada to rent a home.   

As of November 2024, according to CMHC, there are 2,980 apartment and row housing units under construction in Saskatoon and in Regina there are 1,003.  

“While purpose-built rental growth remains strong, the costs of building new units and costs for the ongoing operation of rental housing remain significant headwinds for the industry”, Choquette said. “Leveraging the funding from the National Housing Strategy and Housing Accelerator Fund are key to building more affordable housing, removing municipal barriers to development, and re-investing in the province’s own social housing 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 

ceo@rhsk.ca / (306) 327-8460 

As the voice of rental housing providers 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.