Canada Rental Housing: Who Really Owns Most Rental Properties?

According to a CTV News report, a newly released Statistics Canada study found that small-scale landlords who own five or fewer residential investment properties account for the majority of investor-owned rental housing in most provinces.

Small-scale landlords own the majority of Canada’s rental housing in most provinces.

Canada rental housing is often portrayed as being dominated by large corporations and REITs, but a new Statistics Canada study tells a very different story.

For years, much of the conversation around Canada’s rental housing crisis has focused on large corporate landlords, institutional investors and real estate investment trusts, often referred to as REITs.

But new data from Statistics Canada suggests the ownership picture is more complex than many headlines make it seem.

According to a new Statistics Canada study released in July 2026, small-scale landlords who own five residential properties or fewer account for the majority of investor-owned rental housing in nearly every province studied. In other words, Canada’s rental market is not only being shaped by large corporations. It is also heavily influenced by individual investors, families and smaller property owners.

Who Counts as a Real Estate Investor?

Statistics Canada defines a real estate investor as an owner who has at least one residential property that is not being used as their principal residence.

Statistics Canada study

That can include a wide range of owners, such as:

A homeowner renting out a basement apartment
A family that purchased a condo as an investment
A retiree using rental income to supplement retirement savings
A small landlord with a duplex, triplex or second property
A corporation or institutional investor with a larger portfolio

This distinction matters because not all investors operate the same way. A person renting out one basement unit is very different from a company managing hundreds or thousands of rental units.

Small-Scale Landlords Own the Majority of Investor-Owned Housing

The biggest takeaway from the StatCan study is that small-scale investors remain the dominant owners of rental housing in most provinces included in the analysis.

Rather than being controlled mainly by large real estate firms, much of Canada’s rental housing stock is owned by individuals or smaller investors with relatively modest portfolios.

This challenges the common assumption that large REITs and corporate landlords are the primary owners of Canada’s rental housing. While institutional investors do play a role, especially in certain markets and property types, they are not the full story.

Why This Matters for Renters, Buyers and Policymakers

Canada’s housing affordability crisis is often discussed as though there is one clear cause. In reality, housing affordability is shaped by several overlapping factors, including supply shortages, population growth, interest rates, construction costs, land-use policy, investor demand and local market conditions.

The role of investors is important, but it is not one-dimensional.

Small landlords can help provide much-needed rental housing, especially in markets where purpose-built rental supply has not kept pace with demand. Basement apartments, secondary suites, condo rentals and small multi-unit properties all contribute to the rental supply available to Canadians.

At the same time, investor activity can also affect affordability when buyers looking for homes to live in are competing against buyers purchasing properties as investments.

That is why the conversation needs balance. Investors help create rental supply, but investor demand can also add pressure in already competitive housing markets.

The Rental Market Still Needs More Supply

One of the key takeaways from this data is that Canada cannot rely on one type of owner to solve the rental housing shortage.

More purpose-built rentals are needed. More secondary suites are needed. More housing options are needed across different price points, property types and communities.

When supply is limited, renters feel the pressure through rising rents, fewer choices and more competition for available units. Buyers also feel the pressure when a lack of available housing keeps ownership out of reach.

Whether the owner is a small landlord or a large institution, the bigger issue remains the same: Canada needs more housing.

What This Means for the Real Estate Market

For buyers, this study is a reminder that investor activity continues to play a major role in the housing market. In some cases, buyers may be competing not only with other families, but also with investors looking for income-producing properties.

For sellers, investor demand can be an important source of activity, especially for properties with rental potential, secondary suites, multi-unit layouts or strong cash-flow opportunities.

For landlords, the study highlights how important small-scale rental housing is to Canada’s overall housing system.

And for renters, it helps explain why rental housing ownership is more fragmented than many people realize. Your landlord may be a corporation, but they may also be an individual owner with only one or two properties.

The Bottom Line

The conversation around Canada’s housing market is often framed as renters versus landlords, or homeowners versus investors.

But the reality is more complicated.

Statistics Canada’s latest study shows that small-scale landlords own a significant share of Canada’s investor-owned rental housing. That does not mean investor activity has no effect on affordability. It means the housing market is more nuanced than the headlines suggest.

If Canada wants to improve affordability, the solution will likely require more than simply targeting one type of owner. It will require more housing supply, better rental options, thoughtful policy and a clearer understanding of who actually owns the homes Canadians live in.

As always, the best real estate decisions are made with good information, local context and a clear understanding of the market.

June 2026 GTA Market Update

Frequently Asked Questions

Who owns most rental housing in Canada?

Contrary to popular belief, the majority of Canada’s rental housing is owned by small-scale landlords. According to Statistics Canada, individuals and businesses owning five or fewer residential properties account for most rental housing ownership across nearly every province.

Are large corporate landlords responsible for rising rents?

Large institutional landlords and REITs receive significant media attention, but Statistics Canada’s research shows they own a much smaller share of Canada’s rental housing than small investors. Rental prices are influenced by many factors, including housing supply, demand, interest rates, construction costs, and population growth.

Why are more Canadians becoming small-scale landlords?

Many Canadians purchase rental properties as a long-term investment or retirement strategy. Others rent out basement apartments, inherited homes, or previous primary residences after moving. These individual investors now make up a significant portion of Canada’s rental market.

How do interest rates affect rental prices?

Higher interest rates increase mortgage payments and borrowing costs for many landlords. While landlords cannot simply pass every cost increase directly to tenants, higher ownership costs can reduce rental supply and influence market rents over time, particularly when demand remains strong.

What does this mean for home buyers?

Understanding who owns rental housing provides valuable insight into today’s housing market. Investors continue to play an important role, but first-time buyers, families, and downsizers should focus on local market conditions, affordability, and their own long-term goals rather than relying solely on headlines.

Is now a good time to buy a rental property in Canada?

The answer depends on your financial situation, investment goals, financing options, and local market conditions. Every market is different, so it’s important to evaluate cash flow potential, appreciation, vacancy rates, and long-term demand before purchasing an investment property.

Where can I read the Statistics Canada study?

The full Statistics Canada analysis is available through the original news coverage and Statistics Canada data releases. It provides a detailed look at investor ownership across provinces and housing types.

Have Questions About the GTA Housing Market?

Whether you’re buying your first home, selling your current property, or considering an investment property, understanding the market is key to making confident decisions. Every neighbourhood is different, and national headlines don’t always reflect what’s happening locally.

David Cinelli provides trusted real estate advice backed by years of experience helping buyers, sellers, and investors navigate the Greater Toronto Area market. From market trends and home valuations to investment opportunities and neighbourhood insights, you’ll receive honest guidance tailored to your goals.

If you’re curious about your home’s value, wondering if now is the right time to buy or sell, or simply have questions about today’s real estate market, don’t hesitate to reach out.

📞 David Cinelli

Serving Toronto, Mississauga, Etobicoke, North York, Vaughan, Markham, Richmond Hill, Aurora, Newmarket, King, and communities across the Greater Toronto Area.