SW Ontario Multifamily Market Report

Domestic in-migration cushions rental demand. Southwestern Ontario faces the same demographic headwinds in 2026 as other markets, with declining temporary-resident populations and lower permanent-resident admissions weighing on multifamily demand. However, unlike many larger Eastern Canadian metros, the region continues to benefit from sustained intraprovincial migration inflows, supported by its proximity to the Greater Toronto Area and comparatively affordable housing costs. This migration advantage should help partially offset softer population growth and moderate the drag on rental demand this year.