Study: Millennials in the housing market
Released: 2026-05-06
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.
After adjusting for the fact that young adults are now living with their parents longer, millennials had a lower rate of homeownership in 2021 (49.9%) than their Gen-Xer counterparts in 2006 (56.2%) and baby boomer counterparts in 1991 (55.9%). This pattern held across the large census metropolitan areas studied with the decrease in the homeownership rate for millennials most pronounced in Halifax, Toronto, Winnipeg and Vancouver. Furthermore, millennials were less likely to own single-detached houses than earlier generations.
The study also addresses the changing context of successive generations of young Canadians, including more time spent in school, delayed family formation and change in demographic composition.
The decline in family formation across generations, particularly for millennials in their late 20s and early 30s, is an important factor, because young adults who are parents in families with children are more likely to be homeowners than those in any other type of living arrangement.
Note to readers
The data in this study primarily come from the 1991, 2006 and 2021 cycles of the Census of Population. The study evaluates housing outcomes for Canadians aged 25 to 39 during those cycle years, which captures the large majority of each of these three generations: baby boomers (born from 1946 to 1964), Gen-Xers (born from 1965 to 1980) and millennials (born from 1981 to 1996). The study excludes non-permanent residents from the analysis.
Definitions
The adjusted homeownership rate in this study is defined as the proportion of individuals living in an owned dwelling and not living in a census family with their parent(s) over the population.
Products
The publication "Millennials in the Canadian housing market: An intergenerational comparison" is now available.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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