Halifax, Nova Scotia
One of Canada's most diverse and rapidly growing economies
The capital generates over half of the province's GDP. Population has grown by more than 68,000 people since 2021, about 2.9% a year, while apartment vacancy has stayed under 3% and rents have climbed 7.2% annually.
That combination is the whole argument for building here: sustained in-migration into a market that has not been able to add housing fast enough to absorb it.
Halifax at a glance
The numbers behind the growth
517,115
Population (2025)
+68,139
Population Growth 2021–2025
2.9%
Average Annual Growth Rate
2.3%
Real GDP Growth (2025)
vs 1.1% national
$1,750
Average Monthly Rent (Oct 2025)
7.2%
Average Annual Rent Growth
2.7%
Apartment Vacancy (Oct 2025)
5.3%
Unemployment (Jan 2026)
vs 6.4% national
Source: Halifax Partnership, Halifax Index and Halifax Economic Reports.
Industry diversification
Seven sectors. One ecosystem.
No single employer carries this economy, which is what keeps housing demand steady through a cycle.
Ocean Technology & Economy
Known as "Canada's Ocean City," with 500+ companies. Includes research, marine defence, and aquaculture, heavily supported by the Bedford Institute of Oceanography, located adjacent to Nova North Commons.
IT, Gaming & Digital Media
30,000+ people employed in IT across the province, with a strong focus on startups, software development, and AI.
Life Sciences & Health
A major growth area with 40,000+ health care workers in Halifax, benefiting from low operating costs for research centres and proximity to universities and hospitals.
Financial Services & Insurance
A mature sector with 1,300+ firms, including major national and international offices.
Transportation & Logistics
Leveraging its deep-water harbour, the Port of Halifax connects to 150+ countries, supported by extensive rail and air logistics infrastructure.
Defence & Shipbuilding
The Halifax Shipyard is a major employer, undergoing modernization and continuing to build arctic and offshore patrol ships for both the Navy and Coast Guard. CFB Halifax employs 11,000+ people.
Education
Approximately 20,000 people are directly employed in seven universities and colleges, with 40,000 students attending post-secondary institutions each year.
Halifax needs housing
Targeting $34B GDP and 650,000 people
Halifax's own economic strategy sets a target of 650,000 residents and $34 billion in GDP. Getting there means housing roughly 130,000 more people than live here today, and the region is starting from 2.7% vacancy.
And we have shovel-ready sites.