Canadians Continue Moving to Alberta Amid Ontario Outflows, BMO Says

06:55 AM EDT, 09/24/2026 (MT Newswires) -- Alberta remains the preferred destination for moving across provinces in Canada, with Canadians continuing to move there for its relatively low cost of living and stronger economic prospects, according to BMO Capital Markets in a note. While Alberta's housing market has cooled from previously tight conditions and is now broadly balanced, a solid economic backdrop continues to draw people to the province, wrote BMO in the Wednesday note. Elevated energy prices, a more supportive policy environment for development, Artificial Intelligence investment and relative insulation from tariffs should help Alberta record one of the strongest rates of economic growth in the country this year. Ontario remains the largest source of net out-migration, although its larger population partly explains the difference in absolute terms, said the bank. Along with Quebec, the province is also facing greater exposure to US tariffs, while the earlier population boom continues to unwind. Much of Ontario is still working through an affordability-driven housing correction, similar to conditions in British Columbia. Interprovincial migration flows have already eased from their earlier extremes, but significant changes to tariff, energy or immigration policies would likely be required to materially shift the underlying dynamics, added BMO.