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 2023, the City of Hamilton set a new record with over $2.55 billion in construction value of building permits issued — the highest in the city’s history. This represents a 137.4% increase from 2022 and 119.8% jump from 2021, highlighting Hamilton’s unprecedented growth in residential, commercial and industrial development.
Source: City of Hamilton
Source: City of Hamilton
Business metrics
Business Counts
In July 2024, Hamiton reported 16,754 businesses with employees, including registered charities and not-for-profit organizations. Small businesses dominate the landscape, with 56.9% employing fewer than four people and 75.2% employing nine or fewer people. Additionally, 43,598 self-employed businesses showcase the City’s entrepreneurial ecosystem fueling innovation and opportunity.
Source: Canadian Business Counts, July 2024
Source: Canadian Business Counts, July 2024
Annual Real Estate Sales
The City of Hamilton’s annual real estate sales reflect the dynamic nature of the local housing market.
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 slightly by 0.1% between 2022 and 2023. However, compared to the pre-pandemic benchmark of 2013, 2023, an increase of 39.7% was recorded, highlighting growth in residential development over the past few years.
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 2023, the Hamilton Census Metropolitan Area (CMA) reported 414,000 employed residents, a slight decline of 1.1% compared to 2022. However, this figure is nearly identical to the pre-pandemic benchmark of 2019.
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
In 2024, Hamilton Census Metropolitan Area’s seasonally unadjusted unemployment rate showed fluctuations ranging from a low 5.5% to a peak of 7.7% in July. Hamilton’s estimated average unemployment rate for the year stood at 6.7%, slightly below Ontario’s estimated provincial average of 6.8%.
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
In 2024, Hamilton Census Metropolitan Area’s seasonally unadjusted employment rate remained steady, with an estimated average of 60.7% for the year, similar to Ontario’s estimated average. Hamilton’s employment rate peaked at 61.1% in June, with a low of 60.4% in November. Comparatively, Ontario’s employment rate ranged from a high of 61.4% in July to a low of 60.1% in March.
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
In 2024, Hamilton Census Metropolitan Area’s seasonally unadjusted participation rate remained steady, averaging an estimated 65.0% for the year, similar to Ontario’s estimated provincial average. Hamilton’s participation rate peaked at 66% in June and July, with a low of 64.3% in November. Comparatively, Ontario’s participation rate ranged from a high of 66.2% in August to a low of 64.2% in February.
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
The data highlights the number of people employed full-time and part-time in the Hamilton Census Metropolitan Area.
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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