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Canadians Increasingly Renting Rather Than Owning Homes: StatsCan

Statistics Canada says that Canadians are increasingly renting rather than owning their homes
as housing costs continue to rise.

The federal statistics agency said that the number of households renting rose 21.5% in the
decade between 2011 and 2021.

The rental rate is more than twice the pace of the increase in home ownership, which increased
8.4% during the same timeframe.

StatsCan said the growth in the rental rate also reflects high immigration levels in Canada in
recent years.

The overall decline in home ownership is most pronounced among younger Canadians, who are
facing high house prices and rising mortgage rates.

In total, 66.5% of Canadians owned their own home in 2021, down from a peak of 69% in 2011.