Amidst the rising rents and home prices in urban centres, Canadians are redefining their living preferences, opting for more affordable and welcoming locales. Over the past few years, the lure of city lights has been overshadowed by the practicality of affordability, prompting a migration shift.
Moving truck company U-Haul released a new report that analyzed the cities and provinces Canadians migrated to in 2023, shining light on the regions attracting the most new residents.
In the latest U-Haul Growth Index report, Alberta emerges as the leading growth province for 2023, with its largest market, Calgary, securing the top spot as Canada's fastest-growing city based on one-way U-Haul transactions. These findings reflect a significant shift, propelling Alberta from last to first in the annual growth province rankings.
According to the U-Haul report, notable growth cities in Alberta include Calgary, Edmonton, Salmon Arm, and Camrose, all ranking among Canada's top 25 growth cities in the past year. This surge in growth has positioned Alberta as a prime destination for do-it-yourself movers.
British Columbia experienced a remarkable ascent from ninth place in 2022 to second place in 2023 among growth provinces, following a trajectory similar to Alberta's success. Meanwhile, New Brunswick, the top growth province in 2022, slipped two spots to secure the third position on the latest growth chart.
In contrast, Ontario witnessed the most substantial net loss of one-way U-Haul customers in 2023, plummeting from third to last among provinces on the U-Haul Growth Index. Despite this decline, Ontario boasts the highest number of top 25 Canadian growth cities, totalling nine, followed closely by British Columbia with seven.
Naga Chennamsetty, U-Haul Area District Vice President of Western Canada, noted, "We first noticed a strong trend of U-Haul customers moving into Alberta in 2020 because of affordable housing, and since then, the province has continued attracting residents and bringing in new jobs. Cities like Calgary and Edmonton saw a good influx of new residents again in 2023."
Chennamsetty emphasized U-Haul's commitment to supporting this growth, stating, "To support increasing growth, U-Haul has invested millions in capital expenditures in Alberta and other provinces. We're developing more self-storage products, and our fleet of U-Haul trucks, trailers, and U-Box containers is growing to assist DIY movers across Canada."
Here are the provinces ranked in order of growth, according to the study:
- Alberta
- British Columbia
- New Brunswick
- Saskatchewan
- Quebec
- Prince Edward Island
- Newfoundland & Labrador
- Manitoba
- Nova Scotia
- Ontario
Here are the top 10 Canadian growth cities in 2023, according to the study:
- Calgary, AB
- Sherbrooke, QC
- Edmonton, AB
- Kelowna, BC
- Courtenay, BC
- Penticton, BC
- Chatham-Kent, ON
- Campbell River, BC
- Levis, QC
- Brantford, ON
The U-Haul Growth Index determines growth cities and provinces based on each city's and province's net gain or loss of one-way equipment from customer transactions throughout the year. The index is compiled from over 2.5 million one-way U-Haul truck, trailer, and U-Box moving container transactions annually across Canada and the U.S.
Key statistics reveal that in Alberta, 51.1% of all one-way U-Haul customers in 2023 were arriving in the province, marking a 1.6% increase in arrivals compared to 2022. In Ontario, on the other hand, 49.1% of one-way U-Haul customers in 2023 were arriving, reflecting a 1% decrease compared to the previous year.
