Minister of Finance Provides Update on Housing in Saskatchewan

CANADA, August 20 - Released on August 20, 2026

Today, Deputy Premier and Finance Minister Jim Reiter provided an update on the significant growth in Saskatchewan's housing sector.

With affordability top of mind for many, and housing being the largest single expense for most families, the Government of Saskatchewan provides over $60 million each year for a variety of programs aimed at increasing market-based housing supply and making housing more affordable.

In 2025, there were 6,150 new housing starts in Saskatchewan, the highest level since 2014. Saskatchewan's housing starts grew by 42 per cent from 2024, the highest growth rate among provinces. The most recent data from January to June 2026 showed 3,083 new housing starts, putting Saskatchewan on pace through the first six months of 2026 to match last year's strong performance.

Chart 1: Saskatchewan Housing Starts

Note: 2026 figure represents January-to-June year-to-date; with the annual estimated total showing the trend to year-end.

Source: Canada Mortgage and Housing Corporation (CMHC), Starts and Completions Survey

The construction of new rental units has been significant in recent years with 6,371 new rental units completed between 2023 and 2025. This brought Saskatchewan's total rental stock to 44,802 units in 2025, the highest level on record. It is anticipated that when the data for 2026 becomes available, based on current trends, it will show a new record level of primary rental supply in Saskatchewan.

Further, since The Saskatchewan Secondary Suite Incentive Grant Program, over 1,500 additional new rental units have been brought to market in Saskatchewan, helping both rental supply and homeownership affordability.

Chart 2: Total Primary Rental Supply

Bar chart showing the number of rental housing units from 2007 to 2025. Rental units declined from approximately 35,200 in 2007 to a low of approximately 32,900 in 2011, before steadily increasing in subsequent years. The number of units rose to approximately 34,300 in 2013, 36,200 in 2015, 37,500 in 2017, 38,200 in 2018, 38,700 in 2019, 39,400 in 2020, 39,900 in 2021, and 40,600 in 2022. Growth continued from 2023 onward, reaching approximately 42,000 units in 2023, 43,500 in 2024 and a record 44,802 rental units in 2025. A dashed horizontal line represents the 2016?2025 10-year average of approximately 40,000 rental units. A callout notes that the 2025 record is 4,500 units, or 11.2 per cent, higher than in 2022; 12,000 units, or 37 per cent, higher than in 2011; and 4,900 units, or 12.2 per cent, higher than the 10-year average.

Source: Canada Mortgage and Housing Corporation (CMHC) Rental Market Survey

Note: The figures represent total rental units for all bedroom types.

The increase in supply has helped ease market pressures after a period of record provincial population growth between 2022-2024. In 2026, posted rents in Regina and Saskatoon Canadian Metropolitan Areas (CMAs) for a two-bedroom unit remain among the lowest among CMAs in western Canada, and well below the average of major Canadian cities.

Chart 3: Asking Rent Prices for Two-bedroom Apartments by Major Cities in Q1 2026

Bar chart comparing average asking rent in Regina, Edmonton, Saskatoon, Winnipeg, Calgary, Toronto and Vancouver. Regina has the lowest asking rent at $1,490, followed by Edmonton at $1,580, Saskatoon at $1,630, Winnipeg at $1,650, Calgary at $1,900, Toronto at $2,660 and Vancouver at $3,100. The chart includes a dashed horizontal line representing the average asking rent across all Canadian census metropolitan areas, at $2,150. A callout states that Regina?s asking rent is 52 per cent, or approximately $1,600, lower than Vancouver?s and 22 per cent, or approximately $410, lower than Calgary?s. Regina and Saskatoon are highlighted in green, while the other cities are shown in grey, with Vancouver having the highest asking rent.

Source: Statistics Canada, Table 46-10-0092-01, Asking rent prices.

As of July 2026, the Multiple Listing Service (MLS) benchmark home price in Saskatchewan stands at $383,500, compared to the national benchmark price of $661,800, demonstrating Saskatchewan continues to be among the most affordable provinces for home ownership.

The Government of Saskatchewan committed more than $60 million through the 2026-27 budget to assist with construction and affordability of market-based housing. Residents can benefit from a range of programs, including:

The First Time Homebuyers' Tax Credit: Claim a non-refundable provincial income tax benefit of up to $1,575 on a qualifying first home purchase.
The PST Rebate on New Home Construction: Save up to 42 per cent on the provincial sales tax (PST) paid for a newly constructed previously unoccupied house, townhouse, condo or unit in a co-operative housing priced up to $550,000 (not including the value of land).
The Saskatchewan Secondary Suite Incentive Grant Program: Provides a 35 per cent grant for construction costs (up to a maximum $35,000 grant) for building a new permitted rental unit at a homeowner's primary residence. Applications for this program will be accepted until December 31, 2027.
The Home Renovation Tax Credit: Claim a non-refundable provincial income tax benefit of up to $420 annually ($525 for seniors) for eligible home renovation expenses.

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For more information, contact:

Media Relations
Finance
Regina
Phone: 306-787-6046
Email: [email protected]

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