July 2024 Economic Brief

Despite a year-over-year increase, rent remains among the most affordable in major cities. Regina’s rental market is under pressure from three key factors: population growth, economic factors, and a limited supply of rental properties. These elements have created a perfect storm, resulting in a 22% increase in year-over-year rental prices. Understanding these dynamics is crucial for policymakers and stakeholders aiming to address housing affordability and ensure sustainable housing development in the city. As Regina grows, strategic planning and investment in new housing developments will be essential to balance supply and demand and stabilize the rental market.