rental housing rent payments Canada

Just 1 in 4 Canadian renters say they can comfortably afford their rent payment

“Renters are having a more difficult time with the high cost of housing than mortgage holders on average. This, as vacancy rates in many cities plummet and squeeze out low-income individuals.”

As rising housing costs affect mortgage holders and renters across Canada, a study by the Angus Reid Institute has found that just 26% of renters say they’re able to comfortably afford their rent payment. This is significantly lower than the percentage of mortgage holders who manage their payments easily: 42%.

“Renters are having a more difficult time with the high cost of housing than mortgage holders on average. This, as vacancy rates in many cities plummet and squeeze out low-income individuals.”

—Angus Reid Institute

Approximately the same percentage of renters (45%) and mortgage holders (46%) say their payment is manageable, but that they have to watch their other expenses. 1 in 10 renters (12%) however say that making their rent payment is difficult as they struggle to make ends meet. Just 1% of mortgage-holders say the same.

Just 1 in 4 renters in Canada say they can comfortably afford their rent payment

This article was originally published on March 8 and updated on June 21, 2022.

For the complete results and methodology, please visit the Angus Reid Institute website.


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