TORONTO — A survey shows 34 per cent of renters spend more than half of their income on rent, even as the rental market has cooled off recently.
Rentals.ca's report shows those who spend more than half of their income are more likely to experience longer search times, higher frustration, and consider moving cities.
Despite the financial hardship, the survey found 66 per cent of those spending big on rent still say they don't want a roommate.
For younger renters between the ages of 18 and 24, about half of them spend more than 50 per cent of their income on rent, and that a common budget range for monthly rent among this cohort is $1,000 to $1,499.
The report, which surveyed 510 renters across Canada, says only 22 per cent of respondents were spending 30 per cent or less of their income on rent, which is often considered the affordability benchmark.
The national average asking rent in July fell 3.6 per cent from a year earlier to $2,121, which marked the 10th straight month of year-over-year declines and the largest so far in 2025.
This report by The Canadian Press was first published Aug. 14, 2025.
The Canadian Press
