Toronto is building far below its own average – last per capita among big metros

Housing starts, Toronto CMA (CMHC Spring 2026 Housing Supply Report)

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The apartment line holds both the collapsed condominium pipeline and the rental pipeline that must replace it. CMHC reports rising costs, slower rent growth and longer lease-up periods are pushing the next rental projects below visibility.

Chart: Build CanadaSource: CMHC, Housing Supply Report, Spring 2026, Figures 1 and 2, Toronto CMA, accessed July 8, 2026Get the data