What Saskatchewan’s rental data tells us about renter behaviour in 2025

By Peter Altobelli, VP and General Manager, Yardi Canada Ltd.

Canada’s multifamily rental market is entering a period of recalibration. Slower immigration growth and ongoing economic uncertainty are beginning to cool demand across many provinces. But in Saskatchewan, the story is more layered. Rent growth is still strong, and digital leasing interest remains healthy, yet high turnover and rising vacancy suggest more choice and more movement among renters.

This article uses key insights from the Q3 2025 Yardi Canadian National Multifamily Report to examine the state of the market in Saskatchewan, particularly in Saskatoon, and what property managers can do to adapt.

National slowdown, local resilience

Across Canada, in-place rents rose 4.8% year-over-year to reach an average of $1,720. This represents a slowdown from previous quarters, as population growth eases and new lease rates soften. New lease-over-lease growth, a key measure of how rents are trending for new tenants, dropped to just 2.8%, its lowest level since tracking began in 2020. Renters are now staying in their units an average of 37 months, signalling a more stable but less fluid renter base.

The broader market shift is tied to two factors. First, Canada’s federal immigration strategy now aims to reduce the share of non-permanent residents, with nearly 950,000 fewer expected over the next two years. Second, uncertainty around U.S. trade tariffs and a sluggish economy have led to a policy pause from the Bank of Canada, holding the interest rate at 2.75%.

While some urban centres are feeling the pressure, Saskatchewan continues to show steady demand, making it one of the more resilient regions in today’s multifamily market.

Saskatoon shows strength with signals of change

Among Canada’s Census Metropolitan Areas (CMAs), Saskatoon stands out for its rent growth. In-place rents climbed to $1,449, up 6.1% year-over-year, one of the strongest increases in the country. New lease-over-lease rent growth is also holding steady at 3.6%, suggesting that renters are still willing to pay for the right unit.

That said, several metrics show increased fluidity in the market:

• Vacancy rose to 3.5%, a sign that either new supply is coming online or renters are cycling through units more quickly.
• Annual turnover reached 39.8%, the third-highest in Canada behind only Calgary and Halifax.
• Digital leasing activity remains robust, with 22 digital prospects per 100 units per month — indicating consistent renter engagement through websites, ILS, search, social media and other online channels, slightly above the national average.

These figures paint a picture of a market with active demand, but also higher competition and more movement. Renters have more inventory to choose from and may be switching homes for better pricing, amenities or service.

Understanding renter motivations

It’s not just economics shaping this behaviour. Surveys by simplydbs have shown that 80% of renters prefer mobile-friendly communication tools, and many expect to handle leasing, maintenance requests and rent payments online. Convenience is no longer a bonus feature, it’s the baseline.

This shift in renter expectations, combined with Saskatchewan’s relative affordability, is attracting both younger tenants and families relocating from higher-cost provinces like Ontario and BC.

Here’s what the data means for housing providers today.

1. Refresh your marketing for evolving demand

Lease-over-lease rent growth shows that renters are willing to pay more when they see value. With affordability still on Saskatchewan’s side, providers can market their units to a broader audience, including newcomers and those relocating from more expensive regions.

Key messaging should focus on:

• Transparent pricing and clear value
• Convenience, digital accessibility and location
• Energy efficiency or comfort-focused features
• Flexible leasing options that suit a variety of renters

Property managers should also ensure listings are easy to find and mobile-optimized, with clear photos, availability details and contact options. Digital lead capture is now a fundamental part of marketing, not a nice-to-have.

2. Focus on tenant retention to reduce turnover costs

With annual turnover near 40%, the cost of leasing, marketing and preparing units between tenants adds up quickly. Encouraging lease renewals is one of the most effective ways to improve stability and reduce operational costs.

Some strategies to help retain residents:

• Offer flexible lease renewal terms
• Provide loyalty incentives such as small rent discounts or amenity access
• Enhance the move-in and move-out process with checklists and welcome packages
• Keep communication clear and responsive, particularly through digital platforms

Renters today are not just comparing units, they’re comparing experiences. The more proactive and personal your service feels, the more likely tenants are to stay.

3. Prepare for more competition with better tech

As vacancy edges up, competition between properties will intensify. The fastest way to stand out isn’t always with a new amenity. Often, it’s with a smoother experience.

Consider prioritizing:

• Online leasing applications
• Digital rent payment and maintenance request systems
• Real-time communication tools
• CRM platforms that help you track prospect and resident interactions

As the simplydbs survey found, most renters now prefer mobile-based building communication. This means providers who rely solely on email or phone calls may be falling behind expectations.

More inventory on the market means residents will gravitate toward properties that offer both value and convenience. The right digital tools can help housing providers deliver both.

Final thoughts

Saskatchewan’s rental market is in a strong position, even as national demand slows. Saskatoon is showing healthy rent growth and digital interest, which suggests there is still upward momentum. However, rising vacancy and turnover indicate a need for sharper strategies.

To remain competitive, housing providers should take a close look at their leasing processes, retention programs and digital engagement efforts. Those who adapt to changing renter behaviour, and who clearly communicate value, will be best positioned to succeed.

To learn more about these insights and access the full Q3 2025 report, visit: Yardi Multifamily Market Reports for Canada