Demographic, economic and workforce statistics you need to know if you are relocating to Waterloo Region
Waterloo Region is a pretty great place. Anyone who already lives here already knows that. If you are considering relocating here, we have some statistics to show how great we are!
Here they are broken down into
- Economics and
- Work force statistics
1. Waterloo Region Demographics Statistics
Waterloo Region is one of the largest and fastest growing regions in Ontario. Our population is already about 600,000 and is projected to grow 32% over the next 15 years. That will put our population numbers at more than three-quarters of a million (750,000) residents by 2035!
We are the 10th largest CMA (census metropolitan area) in Canada and 4th largest CMA in Ontario.
What’s more, 23% of our residents were born outside Canada. We have the 7th largest proportion of minorities in Ontario. We speak 120 languages.
2. Waterloo Region Economic Statistics
Waterloo has a vibrant and diverse economy with large manufacturing, food and beverage, insurance and technology sectors. Domestic and foreign companies have access to robust physical, financial and human capital.
- Advanced manufacturing
- Information and communication technology
- Automotive, connected and autonomous
- Business and financial services
- Food processing
In 2018, Waterloo Region had a total labour force of 397,900 with 292,200 employed people.
18 development projects worth approximately $1 billion are set to transform one of Waterloo’s urban cores (and another $2 billion in development is popping up along our new light rail transit system!).
Standard of living
Waterloo’s cost of living is 30% lower than Toronto’s. Our average house price is currently about $541,000. And our the price for a two-bedroom condo is currently approximately $302,200.
Four other notables
- Six 20+ story towers and three new office towers.
- A new transit hub and light rail system (LRT) to increase connectivity.
- Major companies such as: Google, Deloitte, Shopify, North, Vidyard, and D2L are located in or near the core.
- Median commute time is less than 23 minutes.
3. Waterloo Region Workforce Statistics
Waterloo Region has a highly educated workforce and substantial manufacturing and technology labour pools
Local talent in Waterloo is more likely to have studied
- Engineering and/or
than anywhere else in Canada
Five other notables
- Waterloo Region experienced a 40% growth in tech-related employment between 2012 and 2017.
- 55.8% of residents aged 25-64 have a college or university qualification
- In 2018 our unemployment rate was 5.1%
- We have a 70% 2018 participation rate
- We are employed by global companies like Google, Toyota and OpenText (to name a few).
What is the best neighbourhood for you?
Source: Waterloo EDC