Canada Short-Term Rental Market Review 2025: Revenue, Occupancy & Supply Growth
Canada Short-Term Rental Market Overview 2025
Number of Airbnb Listings Changes in Canada 2025
Which markets are experiencing rapid saturation?
A key consideration when entering a new short-term rental market is assessing whether it may become oversaturated. To evaluate this, we analyze the year-over-year supply change in Airbnb listings. The national average YoY supply change in Canada was 22.43% in 2025, indicating the overall growth trajectory of the market.
Markets with Largest Absolute Supply Increases in Canada
In absolute terms, Toronto experienced the largest increase with +2,753 new listings added in 2025. This was followed by Montreal (+1,622 listings) and Calgary (+1,242 listings).
Markets with Fastest Relative Growth in Canada
In relative terms, Toronto experienced the most significant growth, with 38.38% more supply added over the 12-month period in 2025. Other rapidly expanding markets include Calgary (+36.55%) and Montreal (+35.32%).
Short-Term Rental Revenue Trend in Canada 2025, and Future Outlook for 2026
Does increased supply necessarily indicate market saturation?
To assess market saturation, we examine year-over-year revenue trends. A decline in revenue per listing typically indicates heightened competition and potential oversaturation. The Canada average YoY change in revenue was 15.53% in 2025, representing an increase from $29,910 in 2024 to CA$47,338 in 2025.
Top Markets Revenue Performance
Toronto
Montreal
Calgary
For more detailed revenue YoY change analysis by market, access the Airbtics dashboard to explore specific market performance metrics.
Easiest Markets for Hosts in Canada 2025
Markets with high occupancy rates provide hosts with greater booking consistency, while markets with high booking volumes offer expanded opportunities across various property types and sizes.
Highest Occupancy Rate Markets in Canada 2025
Vancouver recorded a year-round occupancy rate of 80.00%, which is among the highest in Canada. This was followed by Canmore (80.00%) and Quebec City (73.00%).
Highest Booking Volume Market in Canada 2025
Markets with high booking volumes present additional advantages, as they offer diverse opportunities across various property types and price points. The market that recorded the highest booking volume in Canada is Toronto, with approximately 2,536,604 nights booked in 2025.
Regulatory Landscape
We define a professionalized or strictly regulated market as one where over 50% of active Airbnb listings hold valid license information, indicating consistent enforcement and higher compliance. Markets below this threshold are considered unregulated or lenient.
In Canada, 18 out of 30 markets fall into the professionalized / strict regulation category. For detailed license compliance data and market-specific regulatory insights, the Airbtics dashboard provides the percentage of listings with valid licenses for each market, enabling investors to assess regulatory risk at a granular level.
Which Canada Markets Are Growing Healthily vs Overheating?
Understanding market saturation requires looking at both supply growth and revenue trends together. Markets are categorized by comparing their YoY supply and revenue changes against Canada's national averages. Markets where supply is growing faster than revenue (relative to national averages) may be approaching saturation, while markets with below-average supply growth but above-average revenue growth may present hidden opportunities.
Benchmark: Markets are categorized relative to Canada's national averages (Supply: 22.4%, Revenue: 15.5%). Markets above the national average are marked with ↑, while those below are marked with ↓.
Healthy Growth
Supply > avg, Revenue > avg
Expansion with demand keeping up
- Calgary Supply: +36.5% | Revenue: +22.1%
- Vaughan Supply: +24.9% | Revenue: +19.4%
- Kitchener Supply: +28.4% | Revenue: +18.7%
Early Saturation
Supply > avg, Revenue ≤ avg
Competition rising
- Toronto Supply: +38.4% | Revenue: +4.9%
- Montreal Supply: +35.3% | Revenue: +9.0%
- Mississauga Supply: +31.7% | Revenue: +9.3%
- Brampton Supply: +31.6% | Revenue: +10.0%
- Edmonton Supply: +31.6% | Revenue: +14.8%
-
+5 more markets
Richmond Hill, Richmond, St. John'S, Prince Edward Island, Quebec City ×
Under-the-Radar
Supply ≤ avg, Revenue > avg
Hidden opportunities
- Whistler Supply: +12.1% | Revenue: +31.8%
- Matawinie Supply: +21.0% | Revenue: +31.0%
- Niagara Falls Supply: +18.5% | Revenue: +29.1%
- Bruce Supply: +12.9% | Revenue: +25.9%
- Prince Edward Supply: +18.9% | Revenue: +20.5%
-
+6 more markets
Les Laurentides, Kootenay Rockies, Vancouver, Charlevoix, Frontenac, Vernon ×
Declining
Supply ≤ avg, Revenue ≤ avg
Risky markets
- Surrey Supply: +2.5% | Revenue: -2.3%
- Winnipeg Supply: +22.0% | Revenue: +4.4%
- Hamilton Supply: +22.4% | Revenue: +8.4%
- Crescent Beach - Hammonds Plains Supply: +16.5% | Revenue: +10.5%
- Ottawa Supply: +19.6% | Revenue: +12.6%
-
+1 more markets
Canmore ×
For the latest updates of the market data in Canada, check out our Best Airbnb Markets in Canada.
All metrics are calculated using active short-term rental listings tracked weekly by Airbtics. Revenue, occupancy rate, ADR, and supply growth are estimated from historical booking calendars, listing activity, and proprietary aggregation models.
Source: Airbtics
Learn data methodology →
Cite this report
Airbtics (2026). Canada Short-Term Rental Market Review 2025: Revenue, Occupancy & Supply Growth. https://airbtics.com/short-term-rental-market-report-2025-canada
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