Ottawa is the capital city of Canada. It stands on the south bank of the Ottawa River and reported a population of 1,236,324 within the CMA, making it the fourth-largest CMA in Canada.
The city is the most educated in Canada, and it is home to a number of post-secondary, research, and cultural institutions, including the National Arts Centre and the National Gallery. Ottawa also has the highest standard of living in the nation and low unemployment. It ranks second out of 150 worldwide in the Numbeo quality of life index. It has been a 'stable Mable' market largely due to the stability that Federal Government jobs provide.
Why should I invest in Ottawa?
- More than 25,000 employers.
- More than 728,000 jobs.
- Home to the Government of Canada, Parliament, the Supreme Court, and various other government organizations.
- The Federal Government employs over 110,000 people - plenty of high paying jobs!
- Home to over 1,700 technology companies with over 68,000 employees.
- Boasts the most stable employment rate in Canada.
- Home of Carleton University, University of Ottawa, Algonquin College, and La Cite.
- Major projects like the Light Rail Transit Confederation Line are transforming the city and revitalizing a large number of communities.
- The City of Ottawa offers some of the most favorable bylaws in the country when it comes to secondary dwelling units. Additionally, it's expected that the city will approve a new bylaw this year to allow the construction of Coach Houses (i.e. laneway homes).
- Ottawa’s 5 year population growth rate is at 8.8% which is faster than both the provincial average of 5.7% and the Canadian average of 5.9%.
- Ottawa has an overall vacancy rate of 3.4% so demand for rentals is strong.
Ottawa Market Facts (Last published):
- 2016 Vacancy Rate: 3.5%
- Average MLS residential sale price: $383,793
- Average MLS Days on Market (DOM): 91
- Total Market Listings (MLS): 6970
- Average weekly earnings (ON): $962
- Average 1 bedroom rent: $972
- Unemployment Rate: 6.0%
In 2011, the population of the Ottawa-Gatineau region of 1,236,324 along with its median age of 39.2 being both below the provincial and national averages. Youths under 15 years of age comprised 16.8% of the total population as of 2011, while those of retirement age (65 years and older) comprised 13.2%.