In recent years, solo renting has surged in popularity across Canada, with seniors aged 65 and older becoming the largest demographic driving this change. According to a recent Point2Homes study, solo renters now account for over half of the one-person households in Canada, a trend that has been accelerating since 1991.

‍

The Shift Towards Renting

By 2021, 4.4 million Canadians were living alone, with over half of them residing in Ontario and Quebec. The rise of solo households reflects both the high cost of homeownership and a changing societal landscape. Major cities like Toronto, Vancouver, and Montreal have seen home prices soar, making it increasingly difficult for many to buy their own homes. Renting provides a practical alternative, offering people the flexibility to live independently without the financial strain of owning property.

With this trend, the desire for independence, freedom, and a simpler lifestyle has become more appealing. More Canadians are embracing renting as a means of adjusting to these new realities, opting for properties that require less maintenance and offer greater flexibility.

‍

Seniors Making Up a Larger Share of Solo Renters

A major shift in the renter demographic is being driven by seniors. In fact, seniors aged 65 and older now represent one-third of solo renters in Canada—a share that has grown significantly in recent years. Between 2016 and 2021, this group expanded at the fastest rate among all age groups.

This preference for renting among older Canadians is tied to life changes such as widowhood or divorce, which often necessitate downsizing. For many seniors, renting offers lower maintenance and financial flexibility, allowing them to age in place while maintaining a level of independence.

Communities like Halton Hills and Caledon in Ontario are witnessing this change firsthand, with seniors making up over half of all solo renters. This demographic shift shows the need for the housing market to adapt to the specific demands of older renters.

‍

Younger Solo Renters in Urban Areas

Although seniors make up a large portion of solo renters, younger generations are also contributing to this trend, especially in large urban centers like Toronto and Montreal. Many younger solo renters are drawn to these cities for educational opportunities, career prospects, and cultural amenities.

However, younger renters face difficulties in securing affordable living spaces due to the high cost of housing. Many in their 20s and 30s are delaying significant life events such as marriage or starting a family, which in turn, leads them to rent for longer periods. This group is increasingly turning to shared living arrangements to cope with rising housing prices.

‍

Evolving Preferences for Larger Rentals

An interesting trend emerging among solo renters is the growing preference for larger homes. While apartment living remains the most common choice, more renters are seeking single-family homes or two-bedroom units. The desire for additional space to accommodate a home office, guest room, or extra storage is becoming more prominent.

This shift in housing preferences is particularly noticeable among seniors, as many are looking for more comfortable and adaptable living spaces. According to recent data, single-family home rentals now make up more than 25% of rental properties in 16 Canadian cities. This trend signals a change in how renters view their living environments, especially as they seek more flexible options to meet their needs.

‍

Designing Homes for Senior Renters

As the senior population of solo renters continues to grow, there’s a pressing need to design homes that are accessible, comfortable, and promote social inclusion. For older renters, features like wider doorways, step-free access, and adaptable spaces for mobility aids are crucial. These elements not only help seniors live more comfortably but also enable them to remain independent for longer periods.

To address these needs, the Canadian housing market must focus on creating homes that cater specifically to older renters. This includes taking steps to reduce financial barriers, minimize social isolation, and create environments that can easily adapt as renters’ needs evolve.

‍

Conclusion

The increase in solo renters, especially among seniors, represents a major shift in Canada’s housing market. With many opting to rent due to the high costs of homeownership, there is an increased demand for rental properties that offer flexibility, space, and accessibility. By continuing to design homes that address the needs of this growing demographic, the housing market can better support seniors and future renters, ensuring that everyone has access to quality, adaptable living spaces.

‍

Source: Point2homes