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Canada built more apartments, but analysts say renters still can't afford them

Vacancy in newer, costlier buildings runs higher than in older stock, new data shows
Old and new construction apartment buidings sit side-by-side in many Canadian urban cores, including on Bishop Street in downtown Montreal. (Kristian Gravenor/CoStar)
Old and new construction apartment buidings sit side-by-side in many Canadian urban cores, including on Bishop Street in downtown Montreal. (Kristian Gravenor/CoStar)
CoStar News
August 10, 2026 | 3:21 P.M.

Canada's housing shortage has taken a new turn, with newer apartment buildings having higher vacancies than older buildings. The reason, analysts say, is that renters are prefering lower rents to higher finishes.

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