Nova Scotia Grapples with Persistent Housing Challenges
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Nova Scotia Grapples with Persistent Housing Challenges
- Nova Scotia's housing stock reached 493,145 units in Q3 2024, showing a modest 0.27% increase from the previous quarter, yet lagging the national average growth.
- Since 2020, the number of housing units per capita in Nova Scotia has been declining due to population growth outpacing housing development.
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Nova Scotia continues to face a significant housing crisis characterized by low vacancy rates, rising rental costs, and increasing housing insecurity. The province’s housing stock in Q3 2024 totaled 493,145 units, a 0.27% increase from Q2 2024, which is slower than the national average. This growth rate has struggled to keep pace with the province’s expanding population, leading to a decline in housing units per capita since 2020.
The median assessed value of residential properties in Nova Scotia was $216,000 in 2024, with Halifax Regional Municipality seeing higher values at $412,000. New housing prices in Nova Scotia increased by 4.8% from May 2024 to May 2025, leading all provinces in this metric. Halifax experienced a record-breaking year for multi-unit housing starts in 2025, with 5,859 units, a 51% increase over 2024.
Several factors contribute to the ongoing crisis, including decades of underbuilding, insufficient investment in social housing, and a failure to anticipate and prepare for population growth. In response, the provincial government’s “Our Homes, Action for Housing” plan, launched in 2022, aims to increase housing supply, bolster affordable housing options, and implement necessary programs. The 2024 provincial budget also prioritized housing, committing to expand the co-operative housing sector and providing a 10% rebate on the provincial HST for the construction of purpose-built rentals. Federally, the Affordable Housing Fund, with over $14 billion in total funding as of March 2024, supports the creation and repair of affordable homes across Canada, including Nova Scotia.