Carleton Place is a blossoming bedroom community and one of the fastest growing towns in Lanark County. Between the 2016 and 2021 national census, Carleton Place’s population grew by more than 17%, jumping from 10,644 to 12,517 people. The Lanark County Planning Department projects that by 2038, the town’s population will reach nearly 21,000 people.
In recent years, several new residential and commercial developments have taken shape to address the population growth as many younger families have moved into the community to escape high housing costs in urban centres. The town is ideally located for workers who commute into the nation’s capital and for entrepreneurs and remote workers who can work from home but take advantage of the rural lifestyle of the Lanark County region.
Like many areas, the health care sector is growing in Carleton Place and across Lanark County, but there have been some cracks in other areas of the economy, including manufacturing. Rose Innovation, a manufacturing facility with a more than 40-year history in Carleton Place recently announced its pending closure, resulting in the loss of more than 50 jobs.
Higher interest rates have cooled the real estate market, but the projected growth in population will continue to drive this sector as Carleton Place grows and becomes the largest town in Lanark County. There were more than 7,000 jobs in the town in 2023, a strong indicator of the economic health of the community as it becomes an economic hub in the region.
Given its easy access to highways for the transportation of goods and its curbside appeal and close proximity to Ottawa, Carleton Place is positioned well for growth into the future.
Read the full bulletin with data on Carleton Place HERE
