Housing affordability is a concern for many younger Canadians. Homeownership rates have been declining since 2011, while rental markets have posed financial challenges for young renters in recent years.
In 2021, the proportion of millennials aged 25 to 39 who were living in a census family with at least one parent (16.3%) was nearly twice that of baby boomers in 1991 (8.2%). The growth in the proportion of individuals in this age group living with their parents was gradual over the decades studied. In 2021, the proportion of millennials living with their parents was highest in Toronto (26.1%) and Vancouver (19.3%), the two most expensive housing markets.
In a new study, titled "Millennials in the Canadian housing market: An intergenerational comparison," released today, household living arrangements and homeownership status are examined across three generations of Canadians (millennials, Gen-Xers and baby boomers) when they were aged 25 to 39.
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