The rise of lifelong renters in Canada

Renting in Canada is moving from a temporary stop before homeownership to a long-term reality, recent data suggests.

A new report from SingleKey Inc. shows the median Canadian renter is now 32 years old, and nearly 12% have children. In higher-cost cities like Toronto, the median age is closer to 34.

SingleKey’s CEO Viler Lika believes this is the result of a “double whammy”: people are renting further into adulthood, while many younger people stay with their parents longer to save money. This means renters are entering the market later in life than traditionally associated with getting on the property ladder, and staying in it longer.

And the long-term outlook is shifting too. A 2022 Finder report found that 29% of Canadians over the age of 18 expect to rent forever, and more than 5 million say they’re no longer even interested in owning a home. That’s a 60% jump from just two years before.

Affordability is the main driver behind this sentiment. With high home prices and sizeable down payment requirements, homeownership feels out of reach for many.

But it’s not all resigned pessimism. Many people report they genuinely prefer long-term renting for the freedom from hefty mortgages and the convenience of included services.

There’s also another important factor in play. CMHC reports some older Canadians are downsizing from single-detached houses into apartments to free up cash for retirement, which naturally nudges the median renter age higher.

All signs point to steady rental demand across every age bracket: young professionals, families, retirees, and everyone in between. For property managers, it may be time to broaden marketing and tailor messaging to an increasingly diverse group of potentially lifelong renters.

More renter behaviour headlines

What today’s renters really want when searching for a home – PayProp blog

Rent and interest reductions did little to help the average GTA renter survive in 2025 – inSAUGA

Little recourse for parents denied rentals because of kids, says couple – CBC