Population Growth and Economic Outlook in Waterloo
Waterloo is a dynamic city that forms part of the Waterloo Region, and its current population exceeds 145,000 residents. According to projections, the Waterloo Region is expected to reach almost 923,000 people by 2051, which includes over 470,000 jobs. This expected increase in population and growth of the Waterloo Region will make Waterloo an even more desirable city to live in and will also increase demand for housing.
Connectivity and Education in Waterloo Region
The city of Waterloo is well-connected and primarily serviced by Highway 85, which provides easy access to Highways 7, 8, and the 401, as well as to GO Transit, ION Light Rail Transit, and Grand River Transit. The Waterloo Region is also home to renowned post-secondary institutions such as the University of Waterloo, Wilfrid Laurier University, and Conestoga College, which collectively have over 95,000 students.
Growing Housing Demand in Waterloo
However, with an estimated need for over 70,800 new homes in the region by 2031, it is projected that only around 54,000 homes will be built, resulting in a shortage of nearly 17,000 homes. This will inevitably lead to increased demand for housing, putting upward pressure on real estate values and rental prices.
Trusted Developer: Domus Developments
For those seeking high-quality housing in Waterloo, Domus Developments is a reputable and award-winning developer with a proven track record of over 400 units built. With their commitment to innovative designs, desirable locations, and the highest construction standards, they are a trusted partner in the development of Waterloo’s housing market.