Toronto, ON - November 18, 2024 - Rentals.ca has unveiled its Fall 2024 Renter Preference Survey, gathering insights from 1,486 renters across Canada. This expanded survey builds on the Inaugural Renter Survey in March, which analyzed responses from 600 renters in Ontario, British Columbia, and Alberta. With new data from Quebec, Atlantic Canada, and the Prairies, the latest findings offer a comprehensive view of renter preferences, challenges, and emerging trends across the nation.
Shifting Priorities and Positive Changes
The survey highlights several national trends reflecting an evolving rental landscape:
- Improved Renter Satisfaction: Renters satisfied with their current accommodations increased from 25% to 32%, while dissatisfaction dropped significantly—from 12% to 5%.
- Faster Apartment Searches: The percentage of renters searching for over two weeks dropped from 57% to 35%, showcasing greater efficiency in finding homes.
- Changing Demographics: 42% of respondents are in a relationship, and 16% have children, signalling continued demand for family-sized rentals.
Regional Insights Highlight Unique Challenges
- British Columbia: Renters are making quicker decisions, with search durations over two weeks dropping from 20% to 7%
- Prairies (Alberta, Saskatchewan, Manitoba): Short-term searches (under one week) rose from 4% to 21%, driven by high motivation and increased rental availability.
- Quebec: First-time renters surged from 14% to 36%, driven by Montreal’s comparatively affordable housing options.
- Ontario: Affordability remains critical, with 63% of renters strongly agreeing on the need for more housing—up from 28%. Toronto leads the nation in population outflows due to affordability concerns.
Rentals.ca will continue to create and publish results of both renter and landlord surveys to give a voice to those experiencing the ebbs and flows of the Canadian rental market. The future promises a more informed, responsive, and equitable rental market for all involved.
For more information about Rentals.ca or to schedule an interview, contact Giacomo Ladas at giacomo@rentals.ca. The full results of the survey can be read here.