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Canada's Housing Crisis: Affordability Hits Record Low

11/7/2025

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Summary

Story summary

The National Bank of Canada says housing affordability is at its worst in decades.
Rents have fallen 1.2% from two years ago, the first decline since January 2022.
A new tool ranks 235 cities by affordability, availability, stability, and livability and lets renters customize rankings.
The tool notes 11.2% and 23.5% of renters in Nunavut and the Northwest Territories spend over 30% of income.

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Story summary

The National Bank of Canada says housing affordability is at its worst in decades.
Rents have fallen 1.2% from two years ago, the first decline since January 2022.
A new tool ranks 235 cities by affordability, availability, stability, and livability and lets renters customize rankings.
The tool notes 11.2% and 23.5% of renters in Nunavut and the Northwest Territories spend over 30% of income.