Yukon's Booming Economy and Rapid Population Growth has Led to a Housing Crisis

According to Canada's 2021 census numbers, Yukon led the country in terms of population growth since 2016, increasing by 12.1 per cent and bringing its population from 35,874 to 40,232. Now, the fast population growth is amplifying an already longstanding housing shortage, CBC Canada reports.

In recent years, house and rent prices have exploded, bringing the median two-bedroom apartment rent to around $1,300 according to data from 2021, but many locals who spoke with CBC said the average price is actually around $2,000 right now.

The Yukon Housing Corporation also conceded in an email statement that "the actual market rent is often higher" than the median market rent.  

A 2021 report from the Canada Mortgage and Housing Corporation (CMHC) found housing affordability to be a serious challenge in Yukon, particularly in Whitehorse, where "market options are out of reach for some households without financial assistance."

Yukon has the lowest unemployment rate in Canada at 3.3 per cent, and is the only jurisdictions in Canada where the GDP grew from 2019 to 2020.