REGINA — Saskatchewan’s rental market is beginning to ease after several years of intense pressure, and in Regina, housing experts say the shift points to a more balanced and stable future rather than a slowdown.
That was the key message delivered in early February at Rental Housing Saskatchewan’s annual State of the Rental Housing Market Luncheon in Regina, where housing data, construction trends and economic indicators were unpacked against a backdrop of strong demand and record rental development.
“Saskatchewan’s rental market has always been known for its resilience,” said Landon Field, chief executive officer of Rental Housing Saskatchewan. “What we’re seeing right now is not a cause for concern. It’s a normalization after years of very low, even dangerously low, vacancy.”
Rental Housing Saskatchewan represents landlords and housing providers across the province, from small independent owners to large property managers and nonprofit organizations. The annual event brought together industry leaders and policymakers to examine the latest figures from the Canada Mortgage and Housing Corporation.
This year’s presentation was delivered by Taylor Pardy, CMHC’s lead economist for the Prairies, who highlighted several forces shaping the market. Those include shifts in national immigration policy toward more typical levels, strong employment numbers across Saskatchewan, and a surge in housing construction.
“One of the biggest takeaways is that Saskatchewan continues to lead the nation in housing starts,” Field said. “Most of that growth is coming from purpose-built rentals, which is exactly what the market needs.”
According to CMHC’s latest rental market report, Regina’s vacancy rate currently sits at 2.7 per cent, statistically unchanged from last year. Saskatoon’s vacancy rate is slightly higher at 3.3 per cent. While both figures remain below the 10-year average, they mark early signs that pressure is starting to ease.
“For renters, this means more choice,” Field explained. “And for housing providers, it means an opportunity to stand out with quality units, amenities and good service. That’s how you get to a healthy, balanced market.”
The construction pipeline suggests that relief could continue. With housing starts well above the national average, Saskatchewan is on pace to add a significant number of new rental units in 2026, particularly in Regina and Saskatoon, where purpose-built apartment projects and townhouses are coming online.
Another bright spot for Regina is the province’s extended secondary suite incentive program. The initiative offers grants covering up to 35 per cent of construction costs for homeowners adding legal secondary suites, including basement suites, garage units and laneway homes.
“The program has already added about 1,000 rental units in three years,” Field said. “That’s meaningful supply, and it shows how smaller-scale projects can make a real difference.”
As the incentive expands, Rental Housing Saskatchewan is stepping in to support new and existing landlords through education and training. The association has launched a new online certification program designed to help housing providers understand legal responsibilities and best practices.
“If people are going to provide rental housing, they need the right tools and knowledge,” Field said. “Our role is to help make sure housing is safe, reliable and professionally managed.”
Looking ahead, Field said Regina is well-positioned to absorb growth while maintaining affordability, something that continues to attract people to the province.
“People are choosing Saskatchewan because they can work here and afford to live here,” he said. “Our construction industry and rental housing providers are responding to that demand and being part of the solution.”
As more units come online and vacancy inches toward balance, the outlook for Regina’s rental market appears steady, measured and cautiously optimistic.
“We’re proud of the role our members play in communities across the province,” Field said. “The goal is a rental market that works for everyone who calls Regina and Saskatchewan home.”
