Canada Senior Living Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Retirement Home Companies in Canada and the market is segmented by Province (Alberta, Nova Scotia, Quebec, British Columbia, Ontario, and Rest of Canada). The report offers market size and forecast in value (USD billion) for all the above segments.

Canada Senior Living Market Size

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Canada Senior Living Market Analysis Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 5.00 %
Market Concentration Medium

Major Players

Canada Senior Living Market Analysis Major Players

*Disclaimer: Major Players sorted in no particular order


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Canada Senior Living Market Analysis

Canada's senior living market is expected to register a CAGR of approximately 5% during the forecast period.

  • The population of seniors aged 75 years and older in Canada is expected to grow by 111.2% between 2014 and 2034, while the total population of Canada is only expected to increase by 19.1% over the same period. This trend has captured the attention of investors and real estate developers, resulting in increased capital flows and construction in the senior housing and long-term care sector in Canada.
  • Senior living facilities were significantly impacted by the COVID-19 pandemic in Canada. During the first wave of the pandemic (March through August 2020), residents of nursing and senior homes accounted for more than 80% of all reported COVID-19 deaths.
  • As of early March 2021, reports indicated that nursing and senior homes accounted for the greatest proportion of outbreak-related cases and deaths, representing about 7% of all cases and more than 50% of all deaths. Residential care facilities are potentially at higher risk of infection, given the unavoidable close contact between staff and residents.
  • The demand for senior housing has increased during the COVID-19 pandemic, and it is expected to increase in the coming years, driven by a focus on health and well-being as well as a rapidly aging population.

Canada Senior Living Market Trends

Rise in Investments for Senior Housing

Despite the negative impacts of COVID-19, the sector is experiencing its best period ever for investment. In 2021, investments in Canadian senior housing were recorded at around USD 1.48 billion, higher than the previous year, i.e., only USD 0.81 billion. Most of the Canadian senior housing market participants are integrated owners/operators. These companies devoted the majority of their focus to operations in 2020 rather than pursuing new investments.

Following a quiet start to 2021, investment market activity picked up in the second half of the year, marked by major investments by Blackstone, Ventas, and Harrison Street. As a result, the total dollar volume of Canadian senior housing transactions in 2021 nearly doubled the volume of transactions that closed in 2020. Canadian senior housing transaction activity and overall momentum will continue to increase in 2022.

Canada Senior Living Market Analysis: Transaction Volume in Canada Senior Housing Market from 2016 to 2021, in USD billion

Increase in Rents for Senior Housing in Canada

The number of residents decreased or only moderately increased, leading to higher vacancy rates. The weak demand could be the reluctance of households to move into senior residences during the COVID-19 pandemic. Despite the increase in vacancy rates, rents increased in all provinces due to the rising cost of living and other essentials. Quebec posted the highest capture rate in the country despite a decrease. About 17% of seniors aged 75 and older lived in senior residences in 2021. This proportion varied between 5.0% and 10% in other provinces across the country.

Average rents in British Columbia across all unit types increased from USD 2,489.04 to USD 2620 in 2021, while average rents in Alberta rose to USD 2,518.64 in 2021. While in a few provinces, rents declined, such as in Manitoba, Prince Edward Island, Newfoundland, and Labrador.

Canada Senior Living Market Analysis: Average Rents for Senior Housing Space in Canada, by Province, in USD Thousands, 2021

Canada Senior Living Industry Overview

Canada's senior living market is relatively fragmented, with the presence of local and small developers and few branded players. Higher competition exists among the fragmented players. Some of the major players in the market include Chartwell Master Care LP, Sienna Senior Living, Atria Senior Living, Sunrise Senior Living LLC, and All Seniors Care Living Centers.

Canada Senior Living Market Leaders

  1. Chartwell Master Care LP

  2. Sienna Senior Living

  3. Atria Senior Living

  4. Sunrise Senior Living, LLC

  5. All Seniors Care Living Centers

*Disclaimer: Major Players sorted in no particular order

Canada Senior Living Market Analysis Concentration
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Canada Senior Living Market News

Oct 2022: Optima Living and joint venture partner Axium Infrastructure have purchased eight seniors' supportive-living homes in Alberta and British Columbia from H&H Total Care Services for more than USD 300 million. With this sale, the joint venture now has 18 care facilities in British Columbia and Alberta. Optima operates over 2,200 beds, providing congregate living options for seniors.

Oct 2022: Enquire, Glennis, and Sherpa have joined forces to create the senior living industry's market-leading software platform, uniquely positioned to improve the lives of older adults and those who care for them by delivering the first comprehensive, scalable end-to-end software solution designed by and for senior living providers. The merged firm will service more than 50 of the top 150 senior housing operators, as well as over 800 clients representing 5,700 locations in the senior living, post-acute, and home care sectors.

Feb 2022: Sienna Senior Living announced an agreement to acquire a 50% ownership interest in a portfolio of 11 senior living assets in Ontario and Saskatchewan, consisting of 1,048 high-quality, private-pay suites. Sienna will acquire the portfolio in partnership with Sabra, which is acquiring the other 50% interest, with Sienna as the manager of the portfolio. Sienna and Sabra will acquire the portfolio from Extendicare Inc., with the portfolio representing the entirety of Extendicare's currently owned private-pay retirement properties in Canada.

Canada Senior Living Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Spotlight on Demographics for Senior Living Population

    3. 4.3 Spotlight on Different Types of Senior Living Facilities

    4. 4.4 Key Factors to Consider for Senior Living Facility

    5. 4.5 Government Initiatives and Policies

    6. 4.6 Impact of COVID-19 on the Market


    1. 5.1 Market Drivers

    2. 5.2 Market Restraints

    3. 5.3 Market Opportunities

    4. 5.4 Porter's Five Forces Analysis

      1. 5.4.1 Threat of New Entrants

      2. 5.4.2 Bargaining Power of Buyers/Consumers

      3. 5.4.3 Bargaining Power of Suppliers

      4. 5.4.4 Threat of Substitute Products

      5. 5.4.5 Intensity of Competitive Rivalry

  6. 6. MARKET SEGMENTATION (Market Size by Value)

    1. 6.1 By Province

      1. 6.1.1 Alberta

      2. 6.1.2 Nova Scotia

      3. 6.1.3 Quebec

      4. 6.1.4 British Columbia

      5. 6.1.5 Ontario

      6. 6.1.6 Rest of Canada


    1. 7.1 Overview (Market Concentration and Major Players)

    2. 7.2 Company Profiles

      1. 7.2.1 Chartwell Master Care LP

      2. 7.2.2 Sienna Senior Living

      3. 7.2.3 Atria Senior Living

      4. 7.2.4 Sunrise Senior Living LLC

      5. 7.2.5 All Seniors Care Living Centers

      6. 7.2.6 Berwick Retirement Communities

      7. 7.2.7 Verve Senior Living

      8. 7.2.8 Signature Retirement Living

      9. 7.2.9 A Place for Mom

      10. 7.2.10 Ross Place Seniors Community*

    3. *List Not Exhaustive
  8. 8. APPENDIX


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Canada Senior Living Industry Segmentation

Senior living is a concept that refers to a variety of housing and lifestyle options for senior citizens that are adapted to the challenges of aging, such as limited mobility and susceptibility to illness. The Canada Senior Living Market is Segmented by Province (Alberta, Nova Scotia, Quebec, British Columbia, Ontario, and the Rest of Canada). The report also covers the impact of COVID-19 on the market. The report offers the market size in value terms in USD for all the abovementioned segments.

By Province
Nova Scotia
British Columbia
Rest of Canada
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Canada Senior Living Market Research FAQs

The Canada Senior Living Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Chartwell Master Care LP, Sienna Senior Living, Atria Senior Living, Sunrise Senior Living, LLC and All Seniors Care Living Centers are the major companies operating in the Canada Senior Living Market.

The report covers the Canada Senior Living Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Canada Senior Living Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Senior Living In Canada Industry Report

Statistics for the 2024 Senior Living In Canada market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Senior Living In Canada analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Canada Senior Living Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)