Home is at the heart of family life, the primary setting in which our family relationships are built and nurtured throughout our lives, and the stage on which so many of our family memories are created.
Our relationships with our homes are shaped by the evolving social, economic and cultural contexts in which we live, and where we choose to call home can change over time as we adapt our expectations and aspirations to these ever-changing environments.
To further explore the relationship between families and their homes, we’ve updated our House and Home in Canada fact sheet with new data, this time with a focus on family finances and home.
- In 2016, median monthly shelter costs in Canada were $1,130 for owned households and $910 for rented households.
- In 2016, 16% of owned and 40% of rented households in Canada had monthly shelter costs considered not affordable.
- According to recent estimates, it now takes 13 years for a typical person aged 25 to 34 to save a 20% down payment on an average-priced home in Canada, compared with 5 years in 1976.
- Recent estimates show that a typical person would have to earn at least $22.40 per hour to be able to afford renting an average-priced two-bedroom apartment in Canada.
This resource will continue to be updated as new research and data emerges (previous versions will be continually available on our fact sheets page).
Published on August 15, 2019