Economic Bulletin - 2023 Year in Review (English, CSV)

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Publisher-reported update

2024-05-14

Throughout all sectors, Greater Sudbury experienced remarkable growth in 2023. With the population now estimated at 171,782, reflecting a steady annual growth rate of 0.5 per cent, the city is projected to grow more over the next 30 years than it has over the past 20 years. The residential sector continues to see strong investment in new and renovated multi-unit and single-family dwellings. Throughout 2023, the combined value of permits for new and renovated residential projects was $213.5 million, resulting in 675 units of new housing, the highest annual number in the last five years. As part of Ontario’s goal of building at least 1.5 million homes by 2031, the Province announced Greater Sudbury’s goal of 3,800 new homes to be built within this timeframe as on target. In addition to the 10-year housing target, the Province assigned 2023, 2024 and 2025 targets. Greater Sudbury exceeded the assigned 2023 target of 279, achieving 436 housing starts (156 per cent of the target).

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