Canada's population estimates, second quarter 2026

Population estimates for Canada, the provinces, and territories on July 1, 2026, are now available. These new data allow for an analysis of population change during the second quarter of 2026.

Our take: Canada added 250k+ people in Q2 2026, but interprovincial migration is reshuffling demand: Ontario and BC continue absorbing most newcomers while Prairie provinces see outflows despite lower rents. Asset location matters more than ever—pursue properties in immigration hotspots and pass on assets in declining-demand regions.

In your underwriting: Rent growth assumptions and vacancy risk now hinge on whether your property sits in a net-migration gainer or loser province; properties in low-growth provinces warrant higher vacancy buffers and lower rent escalation in pro-forma models.

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