The City of Fredericton has released an update to the Housing Needs Assessment (HNA), revealing rapidly shifting housing needs amidst rising economic pressures and changing household dynamics. The City sees this as a pivotal moment to accelerate housing solutions.
As rising housing costs have outpaced income growth, the Report shows that a smaller proportion of both the rental and ownership markets is affordable to households across all income levels. The social implications of a deeply unaffordable housing market are also evident, with homelessness increasing by 63% between 2021 and 2023, and provincial housing waitlists growing.
Fredericton’s population reached approximately 77,500 people in 2024, and this growth is anticipated to continue, with projections indicating a 41% increase in population from 2024 to 2044. The HNA projects that Fredericton will require an additional 19,680 units by 2044, including 6,010 affordable units, to meet the current housing shortage and anticipated demand.
While the City has seen record housing starts over the past five years, new construction has not kept pace with growing demand. Although new non-market housing has been built, the need for affordable alternatives has increased substantially.
Councillor Lejeune, Chair of the Economic Prosperity and Growth Planning Committee, emphasized the urgent need for action: “Fredericton's rental vacancy rate is below 1%, and there are more buyers than there are for-sale signs, making it increasingly difficult to find housing that is affordable. The challenges we face are significant—but so is our commitment. With continued support from our provincial and federal partners, and strong collaboration with community housing providers, we can ensure Fredericton remains a livable city for all.”
The City will continue examining its Affordable Housing Strategy to guide the development of future housing options. For more information and to view the full 2025 Housing Needs Assessment Executive Summary, visit here.