23.2% of Canadian households faced unaffordable housing in 2024

Nearly one-quarter of Canadian households lived in housing considered unaffordable in 2024, according to new Statistics Canada data.

The agency’s Canadian Housing Survey release, published September 21, found that 23.2% of households spent at least 30% of their before-tax income on shelter costs. That was up from 22.0% in 2022.

Renters were more likely to cross the affordability threshold: 33.7% did so, compared with 17.4% of owners. Among homeowners with a mortgage, the share rose to 26.1% from 23.6% in 2022.

The survey also found that 27.9% of households reported financial difficulty over the previous year because of higher rent or mortgage payments, up from 22.6% in 2022. Dissatisfaction with housing affordability reached 23.3%, compared with 14.5% two years earlier.

Statistics Canada said the survey covers households in the 10 provinces and was conducted with the Canada Mortgage and Housing Corporation. The figures describe 2024 conditions; they are not a measure of current asking rents or home prices.

Illustrative image: apartment building. Photo by Luke van Zyl via Unsplash; resized.