Toronto just beat out U.S. hot spots in ranking of fastest growing metros

Tariffs, recession, floundering job market and real estate downturn be damned — experts are still somehow forecasting that the GTA will serve as the fastest growing major hub across both Canada and the U.S. in the coming years.

In a new ranking, released on Wednesday by HigherCaps, the Toronto-Waterloo corridor was named the number one area for boom potential by 2035, outpacing such cities as Seattle, Dallas-Fort Worth and Tampa Bay.

The factors considered by the real estate platform included a centre's population growth (with a preference for a "younger population with strong natural increase," along with robust immigration), its resilience in the face of the risks posed by climate change, and AI adaptability (i.e. non-reliance on sectors prone to automation and able to reap the benefits of AI development).

In total, Toronto-Waterloo received a score of 34 out of a potential 40, excelling for its high immigration levels (10/10), AI impact (10/10) and climate resiliency (9/10). We fell somewhat short in natural growth, with a score of only 5/10, while somewhere like Edmonton — which was ranked fourth — scored 8/10 in this area due to its "youthful population driving a steady increase."

Calgary also made the list, coming in right after the Toronto area with a score of 34/40 due to its position as a "strong northern climate haven" (10/10 climate resiliency score) and significant influx of migrants from elsewhere in Canada and abroad (9/10 net migration score).