What would make young adults leave home?

More young adults are living with their parents than ever before.

A 2024 Vanier Institute report found that 53.3% of Ontarians in their twenties were living at home in 2021, largely because of affordability challenges.

Some investors are responding to this trend by adding laneway homes and garden suites to their properties as municipalities introduce zoning changes and incentives designed to boost housing supply. These smaller housing options can provide a more attainable stepping stone for young renters priced out of traditional apartments.

Reducing move-in costs is also becoming increasingly important to attracting young renters. Between fronting up first and last month's rent, utility deposits, internet setup and other moving expenses, the starter costs of renting can be daunting. As a result, some housing providers are exploring incentives, bundled utilities and pre-furnished rentals to lower the financial barrier to entry.

The amenities that matter are changing, too. Many younger renters are less interested in luxury lounges and high-end gyms than in features that help manage monthly expenses. Included utilities, reliable internet, in-suite laundry, transit access and secure bicycle storage can be more attractive than amenities that ultimately drive up costs.

Screening practices may also need to evolve. Younger applicants often have limited credit histories, student debt, or income from freelance and gig work. Looking beyond traditional metrics can help identify responsible tenants who are still early in their careers.

The desire to move out hasn't disappeared – young people still want their own place. But if property managers and landlords want to attract Ontario's stay-at-home generation, they need to focus on their real challenge: affordability.