Minister of finance provides update on housing in saskatchewan

August 20, 2026

Media Release, Gov't SK

Key points from this story:

• 6,150 new housing starts in 2025
• 42% growth from 2024
• 44,802 rental units in 2025
• $60 million for housing programs
• Average home price is $383,500
• Lowest rents in Regina and Saskatoon

Today, Deputy Premier and Finance Minister Jim Reiter provided an update on the significant growth in Saskatchewan's housing sector. With affordability top of mind for many, and housing being the largest single expense for most families, the Government of Saskatchewan provides over $60 million each year for a variety of programs aimed at increasing market-based housing supply and making housing more affordable.

In 2025, there were 6,150 new housing starts in Saskatchewan, the highest level since 2014. Saskatchewan's housing starts grew by 42 per cent from 2024, the highest growth rate among provinces. The most recent data from January to June 2026 showed 3,083 new housing starts, putting Saskatchewan on pace through the first six months of 2026 to match last year's strong performance.

The construction of new rental units has been significant in recent years with 6,371 new rental units completed between 2023 and 2025. This brought Saskatchewan's total rental stock to 44,802 units in 2025, the highest level on record. It is anticipated that when the data for 2026 becomes available, based on current trends, it will show a new record level of primary rental supply in Saskatchewan.

Further, since The Saskatchewan Secondary Suite Incentive Grant Program, over 1,500 additional new rental units have been brought to market in Saskatchewan, helping both rental supply and homeownership affordability.

The increase in supply has helped ease market pressures after a period of record provincial population growth between 2022-2024. In 2026, posted rents in Regina and Saskatoon Canadian Metropolitan Areas (CMAs) for a two-bedroom unit remain among the lowest among CMAs in western Canada, and well below the average of major Canadian cities.

As of July 2026, the Multiple Listing Service (MLS) benchmark home price in Saskatchewan stands at $383,500, compared to the national benchmark price of $661,800, demonstrating Saskatchewan continues to be among the most affordable provinces for home ownership.

The Government of Saskatchewan committed more than $60 million through the 2026-27 budget to assist with construction and affordability of market-based housing. Residents can benefit from a range of programs, including:

• The First Time Homebuyers' Tax Credit: Claim a non-refundable provincial income tax benefit of up to $1,575 on a qualifying first home purchase.
• The PST Rebate on New Home Construction: Save up to 42 per cent on the provincial sales tax (PST) paid for a newly constructed previously unoccupied house, townhouse, condo or unit in a co-operative housing priced up to $550,000 (not including the value of land).
• The Saskatchewan Secondary Suite Incentive Grant Program: Provides a 35 per cent grant for construction costs (up to a maximum $35,000 grant) for building a new permitted rental unit at a homeowner's primary residence. Applications for this program will be accepted until December 31, 2027.
• The Home Renovation Tax Credit: Claim a non-refundable provincial income tax benefit of up to $420 annually ($525 for seniors) for eligible home renovation expenses.