Halifax Housing Affordability Remains Below Historical Levels; More Supply Needed
Housing affordability continued to improve across most major Canadian markets during the first quarter of 2026, according to RBC Economics. While lower mortgage rates and rising household incomes have modestly improved affordability in Halifax, homeownership costs and rents remain above historical norms. Compared with many of Canada’s largest cities, Halifax remains relatively affordable.
Nova Scotia Lens: Although affordability has improved, the report underscores that Halifax’s housing market has not returned to historical affordability levels. Increasing the supply of both ownership and purpose-built rental housing will be essential to improving long-term affordability, accommodating continued population growth, and providing more housing options for Nova Scotians.
[Full report available at RBC Economics