Ontario Housing Targets Fall Short as 70% of Municipalities Miss 2024 Goals
Ontario’s updated housing supply tracker shows that 35 of the province’s 50 largest municipalities, including Toronto, Haldimand County, and Georgina, failed to meet their 2024 housing targets, with some achieving only 11% of their goals. Despite the Province’s efforts through its Building Faster Fund program—which allocated over $67 million to Toronto and additional funding to several other municipalities—there is a significant shortfall compared to the province’s target of 125,000 new homes for the year, with only 94,753 homes built so far.
The fund rewards municipalities that achieve at least 80% of their housing targets, such as Belleville, East Gwillimbury, Kawartha Lakes, London, St. Catharines, and Toronto, while those exceeding targets—including Chatham-Kent, Greater Sudbury, Kingston, Kitchener, Milton, Niagara Falls, North Bay, Oakville, Pickering, Sarnia, Sault Ste. Marie, Thunder Bay, Waterloo, Welland, and Windsor—receive bonus funding. This performance follows a similar trend from 2023, where 62% of municipalities missed their targets, highlighting ongoing challenges in meeting housing demands across Ontario.
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