Nearly 1 in 4 Canadian Households Struggle With Unaffordable Housing Costs

According to the latest report from Statistics Canada, about 23.2% of Canadian households-nearly one in four- are living in homes considered unaffordable, as housing and living costs continue to rise.

Statistics Canada defines housing as unaffordable when a household spends 30% or more of its total income on housing costs.

The report found that renters are significantly more likely to face unaffordable housing than homeowners. About 33.7% of renters were living in unaffordable homes, compared with 17.4% of homeowners.

In 2024, 36.6% of households had a mortgage, and among them, 26.1% were considered financially burdened by housing payments.

The report also found that 27.9% of households said rising rent or mortgage costs had caused them financial hardship over the previous 12 months.

Statistics Canada said the findings are based on a survey conducted in 2024.