Table Of Contents
Last Updated on August 30, 2025 by Fullhome Airbnb Manager
Our 2025 piece ranks Canada’s biggest Airbnb markets by total revenue. Complete for operators who need on-the-ground decisions. We added the levers that move profit: occupancy, ADR/RevPAR, seasonality, booking windows, and regulation risk (Toronto’s 180-night cap, B.C.’s principal-residence rule, and Montreal’s summer-only window). We also note the 2025 demand picture from Destination Canada/StatCan so you can weight markets realistically.
Methodology (Host-First)
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Base ranking: “largest markets” (by total revenue) as of August 23, 2025.
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Operator overlays: 2025 occupancy/ADR/RevPAR snapshots (where available), seasonality patterns, and booking window norms (urban vs. resort).
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Regulation risk index: Current municipal/provincial rules that materially change feasibility in 2025 (Toronto’s 180-night cap and MAT hike; Montreal’s summer-only rule; Quebec CITQ).
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Macro demand check: 2025 domestic tourism near record levels—supportive backdrop for Canadian STRs.
1) Toronto (GTA) — Canada’s Largest Urban STR Engine, With Tight Rules
Why it’s big: Year-round business and event demand (conferences, concerts, sports), strong VFR (visiting friends/relatives), and big-city airlift keep the calendar moving.
Toronto sits among Canada’s highest total-revenue markets
2025 operating reality (what AirDNA didn’t spell out):
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Primary residence rule + 180-night cap for entire-home STRs; rooms are exempt. Registration required. City of Toronto
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Temporary MAT increase to 8.5% (Jun 1, 2025 → Jul 31, 2026)—budget for it in net revenue.
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Occupancy signal: Q1-2025 paid occupancy ~18% (urban low-season), ADR ~$153 CAD; RevPAR rises into spring/summer with events. Use dynamic pricing.
Seasonality & booking window: Urban bookings skew short-notice (many <14 days) with spikes around festivals/sports; summer and September (TIFF/conferences) lift ADR.
Regulation risk: Medium–High (caps + tax + enforcement). For compliant scale, favor multi-room “partial-unit” within your principal residence or corporate housing/30+ night stays.
Host moves:
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Price for shoulder months, hold rate floors for event weeks.
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Track MAT in your P&L; list it clearly to guests. City of Toronto
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Consider medium-term (30–89 nights) to bypass nightly caps and reduce cleaning turns.
2) Montréal — Huge Summer Demand, New Summer-Only STR Window
Why it’s big: Festivals (Jazz, Osheaga), European-style city breaks, strong leisure ADR in peak summer.
One of the largest markets by total revenue—but feasibility now depends on seasonality rules.
2025 operating reality (the gap to watch):
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City rule: Principal residences can be rented only from June 10 to September 10 each year; municipal permit (≈$300) required. Province still requires CITQ registration.
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Occupancy/ADR backdrop: Montréal shows solid paid occupancy in Q1-2025 vs. many urban peers; RevPAR accelerates in summer with festivals (optimize 7-night mins around event weeks).
Seasonality & booking window: Highly seasonal by law now; expect longer booking windows for July/August festival weeks; compress length-of-stay to maximize turnover within the 3-month window.
Regulation risk: High (season-restricted + permits + provincial registration). Some commercial STR zones exist but are limited; verify zoning before purchasing.
Host moves:
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Front-load rates, professional photography, and strict min-stays inside June 10–Sept 10.
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Secure CITQ number and display it on all listings to avoid takedowns.
3) Vancouver — High Year-Round Demand, Strict Principal-Residence Rules
Why it’s big: International gateway traffic via YVR plus business, cruise, and events keep demand steady. Destination BC reports 26M+ passengers at YVR in 2024, a strong demand backbone into 2025. destinationbc.ca
Vancouver ranks among Canada’s largest STR markets by total revenue.
2025 operating reality
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Principal residence + licence required for any stay 90 nights or less. Hosts must hold a City short-term rental business licence and meet the primary residence test.
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Provincial overlay: B.C.’s Short-Term Rental Accommodations Act sets a principal residence floor. Municipalities can be stricter. Vancouver’s rules already are.
Seasonality and booking window
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Urban demand is less spiky than resorts. Shorter booking windows dominate, with spring to early fall lifting ADR due to cruise and events. Use price floors for peak weeks and same-day premiums.
Regulation risk: Medium–High. Compliance is clear but inflexible. Consider 30+ night stays where a different licence applies. Vancouver
Host moves
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Keep your licence current and display it in the listing. Build a calendar of city events for rate lifts.
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If you operate multiple doors, diversify to a mix of 30+ nights and compliant principal-residence listings to stabilise occupancy.
4) Whistler — Resort Economics With Zoning-Only Nightly Rentals
Why it’s big: World-class ski plus a growing four-season product. Whistler now reports roughly 3 million visitors yearly, split about 45% winter and 55% summer. Summer has become the peak for many operators.
A top Canadian market by revenue with strong ADR in winter and robust summer RevPAR.
2025 operating reality
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Nightly rentals only where zoning allows “tourist accommodation.” Many residential zones forbid nightly STR. Always check the RMOW zoning map and bylaw, then secure a Tourist Accommodation business licence.
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Provincial STR Act sets a principal residence floor in many communities, and local governments may be stricter. In Whistler the decisive filter is zoning and licence. Province of British Columbia+1
Seasonality and booking window
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Two clear profit seasons. Winter (ski) and summer (bike park, hiking, festivals). Summer sightseeing windows are longer; winter has more advance, event-driven bookings. Official channels highlight year-round operations and seasonal hours.
Regulation risk: High for the unprepared. Zoning non-compliance triggers fines and takedowns. Always verify “tourist accommodation” is a permitted use on title.
Host moves
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Buy or operate only in tourist accommodation zones. Model two rate curves: one for snow weeks, one for bike-park weeks.
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Use 4–7 night minimums during peak periods to grow RevPAR and reduce turns.
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Keep licence and disclosures up to date to avoid enforcement disruptions
3) Vancouver — High Year-Round Demand, Strict Principal-Residence Rules
Why it’s big: International gateway traffic via YVR plus business, cruise, and events keep demand steady. Destination BC reports 26M+ passengers at YVR in 2024, a strong demand backbone into 2025. destinationbc.ca
Vancouver ranks among Canada’s largest STR markets by total revenue
2025 operating reality
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Principal residence + licence required for any stay 90 nights or less. Hosts must hold a City short-term rental business licence and meet the primary residence test. Vancouver
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Provincial overlay: B.C.’s Short-Term Rental Accommodations Act sets a principal residence floor. Municipalities can be stricter. Vancouver’s rules already are.
Seasonality and booking window
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Urban demand is less spiky than resorts. Shorter booking windows dominate, with spring to early fall lifting ADR due to cruise and events. Use price floors for peak weeks and same-day premiums.
Regulation risk: Medium–High. Compliance is clear but inflexible. Consider 30+ night stays where a different licence applies. Vancouver
Host moves
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Keep your licence current and display it in the listing. Build a calendar of city events for rate lifts.
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If you operate multiple doors, diversify to a mix of 30+ nights and compliant principal-residence listings to stabilise occupancy.
4) Whistler — Resort Economics With Zoning-Only Nightly Rentals
Why it’s big: World-class ski plus a growing four-season product. Whistler now reports roughly 3 million visitors yearly, split about 45% winter and 55% summer. Summer has become the peak for many operators.
A top Canadian market by revenue with strong ADR in winter and robust summer RevPAR.
2025 operating reality
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Nightly rentals only where zoning allows “tourist accommodation.” Many residential zones forbid nightly STR. Always check the RMOW zoning map and bylaw, then secure a Tourist Accommodation business licence.
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Provincial STR Act sets a principal residence floor in many communities, and local governments may be stricter. In Whistler the decisive filter is zoning and licence.
Seasonality and booking window
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Two clear profit seasons. Winter (ski) and summer (bike park, hiking, festivals). Summer sightseeing windows are longer; winter has more advance, event-driven bookings. Official channels highlight year-round operations and seasonal hours.
Regulation risk: High for the unprepared. Zoning non-compliance triggers fines and takedowns. Always verify “tourist accommodation” is a permitted use on title.
Host moves
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Buy or operate only in tourist accommodation zones. Model two rate curves: one for snow weeks, one for bike-park weeks.
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Use 4–7 night minimums during peak periods to grow RevPAR and reduce turns.
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Keep licence and disclosures up to date to avoid enforcement disruptions.
5) Calgary — Event-Driven Demand, Fresh 2025 Licence Updates
Why it’s big: A year-round events calendar (Stampede, conventions, sports) and strong air access lift baseline demand. Tourism Calgary reports 8.4 M visitors and $2.9 B in 2024 visitor spending (+10% YoY), a solid backdrop heading into 2025. Tourism Calgary
Calgary sits among Canada’s largest STR markets by total revenue.
2025 operating reality (what to know beyond revenue):
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City licence required. Calgary refreshed its STR definition effective Apr 1, 2025 (stays up to 180 consecutive days listed on a platform) and maintains an online portal for applications/renewals.
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Two licence tiers are widely referenced by industry guides (Tier 1 = rooms in a home; Tier 2 = larger/entire-unit operations) and fire safety requirements are emphasized (plan, devices, inspections). Check the City site for current fees and categories before you apply.
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Operational rules commonly cited: display licence number, no overlapping bookings, max two adults/bedroom, egress windows, and proof of insurance
Seasonality & booking window: Urban cadence with short-notice bookings; ADR/RevPAR rise around Stampede/conferences. Third-party dashboards show median ~54% occupancy with top quartile properties materially higher—execution and location matter.
Regulation risk: Medium–High. Rules are clear but detailed (licence + fire plan + inspections). Also note Alberta’s 4% tourism levy on <28-day stays (usually platform-collected)
Host moves:
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Keep a fire safety plan on file (with posted floor plans) and test devices; it speeds approvals and renewals.
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Program event-week rate floors; use 2–3-night mins during Stampede.
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For scale, blend compliant nightly units with 30+-night furnished rentals to stabilize occupancy. https://www.calgary.ca
6) Ottawa — Government & Events Demand, Principal-Residence Rule
Why it’s big: Capital-city business/government travel plus festivals and university traffic. 9.7 M annual visitors in 2024 and 2.79 M room nights signal durable demand. Ottawa Tourism
Ottawa features prominently in Canada’s high-revenue STR markets. (We overlay feasibility below.)
2025 operating reality (the gap operators feel):
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Permit + principal residence: Ottawa requires a host permit (about $116/2 years) and limits STRs to your principal residence (condo rules still apply).
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Market snapshots from third-party analytics place typical occupancy in the high-40s to 60-ish% range with strong summer peaks; verify your sub-market.
Seasonality & booking window: Peak May–October (festivals, Parliament sittings, graduation). Shorter booking windows than resort markets; shoulder months benefit from medium-term stays (30–89 nights) for consultants and relocations.
Regulation risk: High for non-principal-residence plays; permit enforcement is active. Condo bylaws can be stricter than City rules.
Host moves:
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Operate from your principal residence (entire home during trips or private room model).
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Lock summer with min-stays during big events and aim for 30+-night bookings in winter for steadier RevPAR.
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Keep your host permit current and message the number to guests if they ask—transparency improves booking confidence. ottawa.ca
7) Vancouver Island — Big Leisure Demand, Tightening Provincial Rules
Why it’s big: Victoria, Tofino, Ucluelet, Parksville and Nanaimo pull strong leisure demand across two long seasons. Destination BC lists the Vancouver Island region as one of the province’s top tourism areas, with Victoria, Tofino and Ucluelet among key draws. Destination BC
2025 operating reality
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Provincial principal-residence rule applies in many B.C. communities: hosts can short-let only their principal home plus one suite or ADU. A provincial STR registry is in effect as of May 1, 2025.
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Victoria adds its own cap: entire-unit while you are away is limited to 160 nights per year; otherwise only room-share in your principal dwelling, with a city STR licence.
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Tofino is zoning-led: nightly rentals only where “tourist accommodation” is permitted and with conditions in the bylaw.
Seasonality & booking window: Two peaks. Summer coastline and shoulder months for Victoria; winter surf in Tofino plus summer stays. Expect longer booking windows in resort pockets, shorter in Victoria’s urban core.
Regulation risk: Medium–High. Compliance now has two layers: provincial rules plus each municipality’s licence and zoning. Verify principal-residence status and zoning before buying or converting. Government of British Columbia
Host moves:
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Operate within principal-residence limits where required and keep licence numbers visible on listings.
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In resort towns, confirm your parcel is zoned for tourist accommodation before modelling revenue.
8) Niagara (Niagara Falls + Niagara-on-the-Lake) — Giant Visitor Base, Licence-First Market
Why it’s big: The Niagara Region welcomes ~13–14 million visitors a year, with ~12 million to Niagara Falls alone, creating reliable leisure demand. Peak runs July to September, with strong shoulder traffic April to June.
2025 operating reality
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Niagara Falls: a Vacation Rental Unit (VRU) licence is required. VRUs are restricted by zone, advertising without a licence is illegal, and fines can be significant. City guidance warns unlicensed or residential-zone VRUs are prohibited.
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Niagara-on-the-Lake (NOTL): licence mandatory and actively enforced. Council has updated STR by-laws in 2025 and continues to manage licence numbers and operator obligations.
Seasonality & booking window: Summer dominates. Weekends fill first. Wine events and theatre extend shoulder months.
Regulation risk: Medium–High. Both municipalities require licensing. NOTL debates caps and stricter controls. Niagara Falls enforces zone compliance and penalties for illegal operations. City of Niagara Falls Website
Host moves:
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Start with zoning confirmation, then apply for the correct licence class. Show the licence number on listings to avoid takedowns.
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Blend weekend ADR peaks with minimum-stay rules during festivals to raise RevPAR.
Quick Comparison Table (Operate-ability Lens)
| Market | Core Draw | Key Constraint in 2025 | Risk Level | Best Fit |
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| Toronto | Year-round urban demand | 180-night cap + MAT + principal-residence rules | Med-High | Partial-unit in principal home, or 30+ nights |
| Montréal | Festivals summer window | Summer-only STR window for principal residences + CITQ | High | Seasonal operators with strong summer pricing |
| Vancouver | Gateway city | Principal-residence + city licence | Med-High | Principal-residence hosting, 30+ nights blend |
| Whistler | Ski + summer resort | Zoning decides nightly legality + licence | High | Zoned resort condos with pro pricing |
| Calgary | Events + business | City licence + fire plan; Alberta levy | Medium | Event-calendars, pro compliance |
| Ottawa | Capital travel | Permit + principal-residence | High | Primary-home hosting, 30–89 night stays |
| Vancouver Island | Leisure, two peaks | Provincial principal-residence + local licences/zoning | Med-High | Principal-residence urban, zoned resort stock |
| Niagara | Falls + wineries | Municipal licensing, zone limits, active enforcement | Med-High | Licensed, well-located leisure homes |
Wrap-up and Next Step
Revenue tells only half the story. Operate-ability decides whether those dollars become profit. For 2025, Canada’s largest Airbnb markets reward hosts who pair regulation-first compliance with season-smart pricing and booking-window tactics.
FullHome Market Pick Consult
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Sources used for gaps and feasibility overlays: B.C. STR Act and principal-residence pages, Victoria STR rules, Tofino zoning, provincial STR registry updates, Destination BC regional profiles, Niagara Falls and Niagara-on-the-Lake licensing pages, and regional tourism stats.