Immigrant homeownership in Canada reaches new heights

Recent data from Statistics Canada reveals a significant upward trend in homeownership among newcomers to Canada. This surge is particularly evident in Ontario, where nearly 2 million immigrant homeowners were recorded in 2022, representing a growth of 34.2% of the province’s newcomer population. Despite its high property values, British Columbia remains an attractive destination for immigrant investors, with the average homeowner boasting a household income of $100,000. Meanwhile, Alberta is emerging as a hotspot for newcomers seeking affordable housing options, with a median property value of $410,000 for immigrant homeowners. These trends underscore Canada’s immigrant population’s increasing economic integration and financial stability.