Yardi's Latest Canadian Multifamily Report Highlights Rising Vacancy and Slow Rent Growth
The latest edition of the Yardi® Canadian Multifamily Report, released on October 29, 2025, casts a spotlight on the current state of the multifamily housing market in Canada. As economic conditions shift, the report reveals key trends indicating a slowdown in demand, rising vacancy rates, and a marked deceleration in rent growth. This is particularly evident in regions that once thrived on booming rental prices, making the data crucial for property managers and investors alike.
Recent figures show that the national vacancy rate has climbed to 4.3%, the highest level recorded since 2020. In tandem, new-lease rent growth has reduced to a modest 2.4%. Certain areas, such as Calgary, have witnessed significant declines in lease-over-lease rents, with a downturn of 3%. Particularly alarming is the vacancy rate for bachelor units in Calgary, which has surged to 6.7%, making it the highest among all unit types across the country.
Adding a layer of depth to this report is the introduction of expanded data sets that provide invaluable insights into operational and financial performance metrics for housing providers. For the first time, the report includes five quarters of historical data regarding Average Resident Length of Stay, alongside three new expense measures: Repairs & Maintenance per Unit, Controllable Expense per Unit, and Expense per Unit. These updated metrics aim to benchmark operating efficiency and cost performance across diverse markets, lending a hand to housing providers in understanding ongoing demand and expense trends.
Peter Altobelli, the Vice President and General Manager of Yardi Canada, emphasized the importance of these insights: 'Adding expense and stay-length data allows for more comprehensive benchmarking. With slower population growth and shifting market conditions, these insights help housing providers make informed, data-driven decisions.' This statement speaks volumes about the need for property managers to adapt to changing circumstances in the housing market.
Accompanying the report, animated charts and data visualizations illustrate key rental market trends unveiled in Yardi’s Q3 2025 Canadian Multifamily Report. The full report is now accessible, and as property managers navigate this complex landscape, relevant data can equip them for better decision-making in property management and investment strategies.
Yardi, which produces industry-leading software for various types and sizes of real estate companies globally, is committed to driving innovation within the real estate sector. With a workforce exceeding 10,000 employees, Yardi provides tools and insights that empower its clients to stay ahead in a competitive marketplace. For further details on how Yardi is ‘Energized for Tomorrow’, interested parties can visit yardi.com.
As the multifamily housing landscape evolves, keeping abreast of these reports will be essential for stakeholders in real estate, including property managers, investors, and housing providers. The insights gleaned from this latest Yardi report highlight the need for strategic adjustments in an increasingly competitive and variable housing market.
Recent figures show that the national vacancy rate has climbed to 4.3%, the highest level recorded since 2020. In tandem, new-lease rent growth has reduced to a modest 2.4%. Certain areas, such as Calgary, have witnessed significant declines in lease-over-lease rents, with a downturn of 3%. Particularly alarming is the vacancy rate for bachelor units in Calgary, which has surged to 6.7%, making it the highest among all unit types across the country.
Adding a layer of depth to this report is the introduction of expanded data sets that provide invaluable insights into operational and financial performance metrics for housing providers. For the first time, the report includes five quarters of historical data regarding Average Resident Length of Stay, alongside three new expense measures: Repairs & Maintenance per Unit, Controllable Expense per Unit, and Expense per Unit. These updated metrics aim to benchmark operating efficiency and cost performance across diverse markets, lending a hand to housing providers in understanding ongoing demand and expense trends.
Peter Altobelli, the Vice President and General Manager of Yardi Canada, emphasized the importance of these insights: 'Adding expense and stay-length data allows for more comprehensive benchmarking. With slower population growth and shifting market conditions, these insights help housing providers make informed, data-driven decisions.' This statement speaks volumes about the need for property managers to adapt to changing circumstances in the housing market.
Accompanying the report, animated charts and data visualizations illustrate key rental market trends unveiled in Yardi’s Q3 2025 Canadian Multifamily Report. The full report is now accessible, and as property managers navigate this complex landscape, relevant data can equip them for better decision-making in property management and investment strategies.
Yardi, which produces industry-leading software for various types and sizes of real estate companies globally, is committed to driving innovation within the real estate sector. With a workforce exceeding 10,000 employees, Yardi provides tools and insights that empower its clients to stay ahead in a competitive marketplace. For further details on how Yardi is ‘Energized for Tomorrow’, interested parties can visit yardi.com.
As the multifamily housing landscape evolves, keeping abreast of these reports will be essential for stakeholders in real estate, including property managers, investors, and housing providers. The insights gleaned from this latest Yardi report highlight the need for strategic adjustments in an increasingly competitive and variable housing market.
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