Uncover Hamilton’s dynamic economic profile with our comprehensive data tools and reports. From labour force statistics to housing statistics to business trends, explore the insights you need to drive growth and innovation.
Home Insights & Data
Building permits
Value of Building Permits
In 2024, the total construction value saw a significant shift, reaching approximately $1.56 billion. While this represents a 38.9% decrease from the 2023 peak, it still reflects strong activity, particularly in the commercial sector, which more than doubled from the previous year (from $143 million in 2023 to $274 million in 2024).
Source: City of Hamilton
Source: City of Hamilton
Business metrics
Business Counts
The Hamilton business landscape is dominated by smaller enterprises. Micro businesses with 1 to 4 employees make up the largest share at 55.4%, followed by small businesses (5 to 99 employees) at 42.5%. Medium-sized businesses (100 to 499 employees) represent just 1.9%, while large businesses with over 500 employees account for only 0.3% of the total. This distribution highlights the city’s strong foundation in micro and small business activity.
Source: Canadian Business Count, December 2024
Source: Canadian Business Count, December 2024
Annual Real Estate Sales
In 2024, Hamilton’s real estate activity remained relatively stable throughout the year, with quarterly permit counts ranging from 1,340 to 1,743. While overall volumes were lower than previous peak years, the consistency across quarters suggests a more even distribution of development activity. Notably, Q2 was the most active period, and Q4 showed a modest improvement compared to the same quarter in 2023.
Source: The Real Estate Association of Hamilton-Burlington
Source: The Real Estate Association of Hamilton-Burlington
Growth & Opportunities
Looking for a better geographic insight into Hamilton’s investment opportunities? Use this tool to see the borders of Hamilton’s Community Improvement Project Areas, understand where your project may exist in relation to the development of the Light Rail Transit project, and understand the boundaries of Hamilton’s Business Improvement Areas.
Would you like to know more about Hamilton’s unique opportunities for business growth? Learn more about the incentives offered through Hamilton’s Community Improvement Project Areas at this link.
Market Advantages
Hamilton offers significant market advantages that make it an ideal investment location. The city’s diverse housing options cater to a wide range of preferences and budgets, attracting a growing population of residents. Hamilton’s strategic location and robust infrastructure support a thriving business environment, with ample opportunities for startups and established companies alike. The city’s vibrant consumer base, characterized by a mix of young professionals, families, and retirees, drives demand for a variety of goods and services. This dynamic interplay creates a fertile ground for economic growth and innovation, making Hamilton a prime destination for investment and development.
Logistics Advantages
Multi-modal and strategically located, Hamilton is a premier choice for businesses looking to thrive in today’s competitive market. Learn how Hamiton connects to North America and the world beyond through major highway systems, a robust rail service, the busiest of all Canadian Great Lake Ports, and the country’s largest overnight express cargo airport.
Economy
Annual Housing Starts
Housing starts in Hamilton Census Division (CD) declined to 1,481 in 2024, following a relatively stable trend from 2021 to 2023, where starts consistently exceeded 3,300 units annually. The sharp drop in 2024 reflects broader market shifts, economic pressures, or changes in development timelines.
Source: Canada Mortgage Housing Corporation
Source: Canada Mortgage Housing Corporation
Average Daily Rate – ADR
The Average Daily Rate (ADR) is a key metric in the hospitality industry, representing the average rate paid for rooms sold. In 2023, Hamilton’s Average Daily Rate (ADR) for accommodations reached $170.14 showcasing the city’s appeal in the hospitality sector.
Source: 2023 STR, Inc. / STR Global, LTD
Source: 2023 STR, Inc. / STR Global, LTD
Population & households
Community Profile
Hamilton is a dynamic city with a diverse and growing population that reflects a rich cultural mosaic. The community is characterized by a balanced mix of age groups, with a significant portion of residents being working-age adults. Hamilton’s demographic diversity includes vibrant immigrant communities, contributing to the city’s multicultural atmosphere. This diversity is mirrored in the city’s cultural events, culinary scene, and community initiatives. The city’s strong sense of community and high quality of life make it an attractive destination for all.
Quality of Life
Whether looking to move a family or a company, Hamilton Economic Development has the quality of life data that will help anyone understand the climate, amenities, ethno-cultural diversity, and educational options existing within Hamilton’s borders. Access this data and more through our quality of life dashboard.
Workforce
Employment by Sector
In 2024, the Hamilton Census Metropolitan Area (CMA) reported 423,800 employed residents, a slight increase of 2.4% compared to the previous year.
Source: Statistics Canada. 2022 and 2023 Labour Force Survey
Source: Statistics Canada. 2022 and 2023 Labour Force Survey
Monthly Unemployment Rate (%) in the Hamilton CMA and Ontario
From January 2024 to June 2025, Hamilton CMA’s monthly unemployment rate showed notable fluctuations. It began at 5.5% in January 2024, peaked at 7.7% in July 2024, and then gradually declined to 6.6% by June 2025. Ontario’s unemployment rate followed a similar trend. Overall, Hamilton’s unemployment rate remained consistently below or close to Ontario’s rate, indicating relatively stable local labour market conditions despite broader provincial increases.
Source: Statistics Canada. Table 14-10-0380-01 Labour force characteristics, three-month moving average, seasonally unadjusted data.
Monthly Employment Rate (%) in the Hamilton CMA and Ontario
From January 2024 to June 2025, Hamilton’s monthly employment rate showed moderate fluctuations. It began at 60.9% in January 2024, dipped to a low of 58.1% in March 2025, and then rebounded sharply to 62.3% by June 2025. Compared to Ontario’s overall employment rate, Hamilton generally tracked slightly higher or lower, with both regions experiencing similar trends over the period.
Source: Statistics Canada. Table 14-10-0380-01 Labour force characteristics, three-month moving average, seasonally unadjusted data.
Monthly Participation Rate (%) in the Hamilton CMA and Ontario
From January 2024 to June 2025, the seasonally unadjusted participation rate in the Hamilton Census Metropolitan Area (CMA) fluctuated between a low of 62.5% in February 2025 and a high of 66.6% in June 2025. The rate started at 64.4% in January 2024, declined through early 2025, and then rebounded sharply, indicating a general recovery in labour force participation after a mid-period dip.
Source: Statistics Canada. Table 14-10-0380-01 Labour force characteristics, three-month moving average, seasonally unadjusted data.
Monthly Full-Time and Part-Time Employment Rates (%) in the Hamilton CMA
From January 2024 to June 2025, full-time employment in Hamilton CMA rose steadily, peaking in June 2025, while part-time employment fluctuated, reaching its highest in April 2025 and lowest in September 2024. Overall, the data suggests a strong recovery in full-time employment toward mid-2025, while part-time employment fluctuated more modestly throughout the period.
Source: Statistics Canada. Table 14-10-0378-01 Labour force characteristics, three-month moving average, unadjusted for seasonality (x1,000)
Workforce Advantages
Hamilton boasts a highly skilled and diverse workforce, making it an ideal location for businesses seeking top talent. More than two-thirds of Hamilton’s workforce holds some level of post-secondary qualification, with more than 70,000 Hamilton residents employed in either the Health Care, Life Science, or Manufacturing sector. With access to a broad range of top-tier talent, it is no wonder the Conference Board of Canada rates Hamilton with a 93% diversified economy rating.
Looking for Specific Data?
Contact Adam Durrant, Senior Business Development Consultant – Research and Marketing.
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