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 2025, the City of Hamilton recorded an estimated $2.30 billion in building permit construction value—one of the strongest years in the city’s history and the second‑highest total on record, surpassed only by the exceptional peak in 2023. This represents a 47.3% increase over 2024 and underscores sustained momentum in major residential, commercial, and industrial development across the city. Hamilton’s continued multibillion‑dollar performance highlights strong investor confidence, significant project build‑outs, and the city’s expanding role as a leading regional economic centre.
Source: City of Hamilton
Source: City of Hamilton
Business metrics
Business Counts
Hamilton’s business landscape is overwhelmingly shaped by small enterprises. Micro‑sized businesses (1–4 employees) make up the largest share at 57.3%, followed by small businesses (5–99 employees) at 40.8%. Medium‑sized firms (100–499 employees) account for just 1.7%, while large employers (500+ employees) represent only 0.2% of all businesses in the city. This distribution underscores Hamilton’s solid foundation in micro and small business activity, which continues to serve as the backbone of the local economy.
Source: Canadian Business Count, June 2025
Source: Canadian Business Count, June 2025
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.
Economy
Annual Housing Starts
Housing starts in the Hamilton Census Division rebounded in 2025, reaching 2,577 units after a significant downturn in 2024. The prior year saw starts fall to 1,481 units, a sharp pullback from the strong period between 2021 and 2023, when annual activity consistently exceeded 3,300 units. This recent uptick in 2025 suggests some stabilization in the market and the return of projects that may have been delayed due to economic conditions or shifting development timelines. The overall trend highlights both the volatility of recent years and the underlying resilience of Hamilton’s residential construction pipeline.
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: 2024 STR, Inc. / STR Global, LTD
Source: 2024 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 2025, the Hamilton Census Metropolitan Area (CMA) reported 441,000 employed residents, a slight increase of 2% compared to the previous year.
Source: Statistics Canada. 2025 Labour Force Survey
Source: Statistics Canada. 2025 Labour Force Survey
Monthly Unemployment Rate (%) in the Hamilton CMA and Ontario
In 2025, Hamilton Census Metropolitan Area’s seasonally unadjusted unemployment rate moved within a relatively narrow band, reaching a low of 6.4% in December and peaking at 7.7% in August. Across the full year, Hamilton averaged an unemployment rate of approximately 7.0%, remaining below Ontario’s provincial average of 7.6%. This pattern highlights Hamilton’s comparatively steadier labour market conditions, even amid mild mid‑year increases seen across the province.
Source: Statistics Canada. Table 14-10-0458-01 Labour force characteristics by census metropolitan area, three-month moving average, unadjusted for seasonality.
Monthly Employment Rate (%) in the Hamilton CMA and Ontario
From December 2024 to December 2025, Hamilton’s monthly employment rate moved through a period of mild fluctuation before trending upward mid‑year. It began at 59.7% in December 2024, dipped to a low of 58.1% in March 2025, and then climbed steadily, reaching a peak of 63.1% in both July and August 2025. By the end of the year, Hamilton’s employment rate settled at 61.1% in December 2025. Over the same period, Ontario’s employment rate followed a similar pattern—rising and falling in tandem with Hamilton.
Source: Source: Statistics Canada. Table 14-10-0458-01 Labour force characteristics by census metropolitan area, three-month moving average, unadjusted for seasonality
Monthly Participation Rate (%) in the Hamilton CMA and Ontario
Between December 2024 and December 2025, Hamilton’s labour force participation rate showed a consistent upward trajectory through most of the year before moderating slightly toward year‑end. Ontario’s participation rate, by contrast, remained comparatively stable, fluctuating within a narrow band around 64.5–65.9%. The data points to a period of strengthening labour market engagement in Hamilton, outpacing the provincial trend for much of 2025.
Source: Source: Statistics Canada. Table 14-10-0458-01 Labour force characteristics by census metropolitan area, three-month moving average, unadjusted for seasonality
Monthly Full-Time and Part-Time Employment Rates (%) in the Hamilton CMA
Full‑time and part‑time employment levels from December 2025 to December 2026 show a labour market that strengthened mid‑year before easing slightly. Full‑time employment rose from early‑year lows to a peak of 384,300 in August, then settled at 354,400 in December, while part‑time employment fluctuated more sharply—falling mid‑year before rebounding to 89,700, its highest level.
Source: Statistics Canada: Table: 14-10-0458-01 Labour force characteristics by census metropolitan area, three-month moving average, unadjusted for seasonality
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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