Highlights of the National Housing Survey
New data from the National Housing Survey has been released today, and in case you’re not interested in reading the entire document from Statistics Canada (which you can download here), here’s some of the key trends from the report:
Overall Homeownership
- 7 out of 10 Canadian households owned their dwellings
- Couple-family households had the highest rate of homeownership at over 82%
- Long-parent households had homeownership of just over 55%
Age and Household Income
- Perhaps an obvious point, households with higher incomes had higher rates of homeownership
- The ownership rate was 23.8% for the group aged under 25. It was almost double (44.1%) for the group aged 25 to 29 years. It further increased to 59.2% for the group aged 30 to 34.
Mortgages
- Over 58% of owner households had a mortgage
- Households with mortgages had shelter costs 3 times higher than that of those who rented
