Short-term rentals in the Canadian housing market
Released: 2024-07-30
The role of short-term rentals (STRs) in Canada's housing challenges remains a subject of ongoing policy debate in many Canadian cities. This paper provides an overview of STR activity across Canada by focusing on the subset of STRs that could potentially serve as long-term housing. This subset of STRs, referred to as potential long-term dwellings (PLTDs), is intended to capture STR units that are not serving as anyone's primary residence, but could potentially function as long-term housing (either as owner-occupied or rental units). The PLTD subset comprises entire units listed for more than 180 days a year, excluding vacation-type properties.
In most Canadian markets, PLTDs accounted for a small share of housing units in 2023. However, the share of PLTDs was significantly higher in tourist areas, particularly around ski hills.
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The study "Short-term rentals in the Canadian housing market," which is part of Analysis in Brief (11-621-M), is now available.
The infographic "The role of short-term rentals in the Canadian housing market" (11-627-M) is also released today.
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