Due to soaring rents and home prices in urban centers, Canadians are reevaluating their living choices by seeking affordability and warmth in more welcoming locales. The allure of city lights has dimmed in the face of practicality, and this has prompted a migration shift.
U-Haul’s recent report on 2023 migration patterns highlights Alberta as the leading growth province. Calgary, its largest market, claims the title of Canada’s fastest-growing city based on one-way U-Haul transactions.
This surprising reversal catapults Alberta from last to first in the annual growth province rankings.
Calgary, Edmonton, Salmon Arm, and Camrose stand out as notable growth cities in Alberta, all securing spots among Canada’s top 25 growth cities. This surge establishes Alberta as a preferred destination for DIY movers seeking new opportunities and affordability.
British Columbia’s notable rise from ninth to second place in growth provinces in 2023 mirrors Alberta’s success, while New Brunswick, the top growth province in 2022, secured the third position.
Ontario, however, faced a significant decline, moving from third to last among provinces on the U-Haul Growth Index. Despite this, Ontario boasts the highest number of top 25 Canadian growth cities, totaling nine, closely followed by British Columbia with seven.
Naga Chennamsetty, U-Haul Area District Vice President of Western Canada, highlighted the trend of U-Haul customers moving to Alberta since 2020 due to affordable housing, leading to continued growth and job opportunities. Cities like Calgary and Edmonton experienced a significant influx of new residents in 2023.
Chennamsetty emphasized U-Haul’s commitment to supporting this growth by investing in capital expenditures in Alberta and other provinces. The company is expanding its self-storage products and growing its fleet of U-Haul trucks, trailers, and U-Box containers to assist DIY movers across Canada.
In Alberta, the statistics indicate a significant positive trend, with 51.1% of all one-way U-Haul customers in 2023 arriving in the province.
This marks a 1.6% increase in arrivals compared to 2022. Conversely, Ontario experienced a slight decline, with 49.1% of one-way U-Haul customers arriving in 2023, reflecting a 1% decrease from the previous year.
These statistics highlight the dynamic shifts in migration patterns that influence the growth landscape of provinces.