For many, retirement may seem pretty stable, permanent and carefree, what with all the planning, saving and investing that helped get you there. However, there is a growing trend around people reaching their golden Yyears that may surprise some.
While solo renting used to be more common for young adults, baby boomers now lead the growth in individual renting: 55- to 64-year-olds represent 18.2% of individual renters in the country (1), keeping pace with the 25- to 34-year-old cohort, who account for 18.5% of solo renters, according to Point2Homes. Additionally, Canadians 65 and older had the largest increase in individual renting, effecitvely making up one-third of the one-person market.
It paints a picture of shifts in the real estate landscape. Canada is aging as a nation, and the way people view housing may be changing, too.
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What’s behind the renting surge?
Renters aged 60 and older may have a number of reasons for seeking to live alone. These can include downsizing from a family home, wanting to do less property upkeep in their golden years or simply adapting to life changes such as divorce or widowhood. According to data from Point2Homes, about one-third of the country’s 3.7 million divorcees are between 55 and 64 years of age. Starting over in a single household may also be pushing older Canadians towards renting instead of buying.
The higher cost of buying a home in Canada, especially in metropolitan areas, is likely to make renting even more attractive for this cohort. In the second quarter of 2025, the cost of buying a condo in Toronto was $685,961 on average (2), while for Q1 of this year, it was $870,000 in Vancouver (3). It’s worth noting that these prices seem to be trending downward with each successive month.
There may also be another factor driving seniors to rent in cities in an around large metropolitan areas: health care.
Doctor shortages in rural areas have a massive impact on Canadians (4). While about 20% of our population lives in rural and remote areas, only 8% of the country’s physicians practise in these communities. Rural Canadians travel over 35 km on average to see their primary care physician, and 30 km on average to get to the nearest hospital, which is more than double the travel time of those who live in more populated areas. With this in mind, aging Canadians may want to live in cities where health care resources are easier to access.
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Where are seniors renting?
According to Point2Homes, smaller towns and cities surrounding the Greater Toronto Area are the country’s leaders in retired renters. In many of these cities, at least 40% of those renting on their own are seniors. Halton Hills, ON is the leader in retired renters, with about half of the solo renters aged 65 and older, followed closely by Caledon, ON.
Burlington, ON is also popular with seniors, with 47.8% of renters over 65, followed closely by Repentigny, a suburb of Montreal, at 47.7%. Whitby, ON, completes the top five with 47%.
The trend of seniors renting appears to reflect broader economic and lifestyle factors that may be here to stay: aging demographics, longer careers and the rising costs of homeownership.
More people 65-plus are experiencing the lifestyle that renting can afford them. The surge in older folks renting also shows how Canada’s housing market has changed, and that renting isn’t just a starter step for young adults. It could be a new reality for retirees.
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Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Point2Homes: A Rental of One’s Own: Canadians 65+ Make Up One-Third of Country’s Solo Renters (1); Toronto Regional Real Estate Board: Condo Market Report (2); CMHC: Condominium apartment market risks in Toronto and Vancouver (3); Canadian Medical Association: Does where I live affect my health care? (4)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.