Canadian Rental Intelligence Report Q2 2026

rent cheque

SingleKey Rental Intelligence Report

We analyzed hundreds of thousands of rental applications and data points across Canada to determine the average renter profile, affordability, and risk signals throughout Q2 2026.

Applicant Overview

National Average Credit Score

701 Average # of occupants

2 Households with pets

27.8%

Households with children

12.4%

Avg Credit Score and Affordability Overview

Average Monthly Rent

$2,051

Monthly Debt and Rent

$2,681

Avg Household Income

$113,970

Avg Personal Income

$72,950

Employment breakdown

Full time	74.8%
Part time	6.1%
Self-employed	5.0%
Student	4.4%
Other	3.8%
Retired/Pension	3.5%
Unemployed	2.9%

Top Line Insights

1. Income growth (not rent) now determines affordability
The biggest affordability gap is between markets where incomes have kept pace with housing costs and those that haven’t. Several secondary markets now place a greater financial burden on renters than Toronto or Vancouver despite charging significantly lower rents. This proves that wages, not rent prices, are the strongest driver of affordability.

2. Shared housing has become a financial necessity

Rental affordability increasingly depends on multiple income earners. Whether through dual-income families, roommates, or co-signers, sharing housing costs dramatically improves affordability. Larger households are now driven as much by unrelated adults sharing rent as by traditional family formation.

3. Family-friendly doesn’t always mean affordable

Markets with the highest concentrations of renter families are not always the most affordable. Moncton and Calgary successfully combine strong family populations with healthy affordability, while Winnipeg demonstrates that families often remain in markets where housing places a much greater strain on household income.

4. Canada’s renters are financially stronger, but payment risk is evolving

National household income, rent affordability, and credit scores all improved year over year, pointing to stronger overall tenant financial health. Yet collections continue to rise, suggesting unresolved consumer debt is becoming a more important risk signal than traditional credit metrics alone.

5. Better data leads to better investment decisions

No single metric can fully explain risk. Credit scores, collections, bankruptcies, affordability, and local market conditions each tell part of the story. Evaluating them together gives landlords and investors a more complete view before making leasing or acquisition decisions.

Who is the average Canadian renter?

Canada’s renters have a median age of 33, are mostly full-time employed, and increasingly settled. About 12% have children and 28% have pets, reflecting a demographic renting later into life while starting families.

Renter Demographics

	Canada	B.C.	Alberta	Prairies	Ontario	Quebec	Maritimes
Median age	33	34	33	30	33	31	33
Average age	35.9	36.7	35.7	34.2	36.2	34.8	36.2
Average # of occupants	2	2	2	2.1	2	1.8	2.1
Has children (%)	12.4%	14.3%	13.9%	12.2%	12.9%	6.9%	16.2%
Average # of children	1.8	1.8	1.8	1.9	1.8	1.7	1.8
Has pets (%)	27.8%	35.0%	33.6%	30.9%	26.7%	16.2%	32.2%
Full-time employment (%)	74.3%	73.1%	73.7%	74.9%	74.2%	76.4%	74.8%
Part-time employment (%)	6.1%	5.6%	6.2%	5.8%	6.1%	6.9%	4.7%
Self-employment (%)	5.0%	6.9%	4.9%	3.5%	5.1%	3.8%	4.6%
Retired (%)	3.5%	3.5%	3.1%	2.0%	3.9%	2.7%	4.6%
Unemployed (%)	2.9%	3.2%	3.2%	3.2%	3.1%	1.8%	2.9%
Students (%)	4.4%	3.5%	4.9%	3.5%	4.1%	5.0%	5.0%
Other (%)	3.8%	4.2%	4.1%	7.0%	3.6%	3.5%	3.3%

	GVA	Victoria CMA	Kelowna CMA	Calgary CMA	Edmonton CMA	Winnipeg CMA	GTA	KW / Cambridge	Ottawa - Gatineau	Montreal CMA	Halifax CMA
Median age	34	32	35	33	32	30.5	32	32	33	31	32
Average age	36.3	34.5	37.4	35.8	35.7	34.9	35.7	35.4	36.4	34.3	35.5
Average # of occupants	2	2	2	2	2	2.1	2	2.1	2	1.7	2.2
Has children (%)	13.2%	9.1%	14.7%	13.7%	13.5%	16.4%	11.0%	15.4%	11.7%	6.2%	15.0%
Average # of children	1.7	1.7	1.7	1.8	1.7	2.1	1.6	1.6	1.8	1.7	1.8
Has pets (%)	27.9%	38.1%	38.9%	31.0%	34.7%	36.2%	15.5%	36.2%	23.0%	14.8%	31.5%
Full-time employment (%)	78.3%	77.8%	67.5%	76.4%	71.6%	69.1%	78.2%	77.0%	73.4%	76.6%	76.3%
Part-time employment (%)	4.7%	3.4%	6.7%	5.8%	5.6%	4.6%	4.6%	5.2%	6.3%	7.0%	4.5%
Self-employment (%)	6.8%	6.2%	7.8%	5.5%	4.8%	3.9%	6.6%	4.6%	3.7%	3.9%	4.4%
Retired (%)	2.1%	1.1%	5.3%	3.1%	3.0%	3.9%	2.4%	3.0%	4.5%	2.4%	3.6%
Unemployed (%)	2.6%	2.8%	3.4%	2.8%	4.0%	4.6%	2.3%	2.6%	3.2%	1.9%	3.4%
Students (%)	2.8%	4.5%	4.0%	3.5%	7.3%	3.3%	3.2%	5.2%	6.9%	5.1%	5.0%
Other (%)	2.7%	4.0%	5.3%	2.8%	3.9%	10.5%	2.7%	2.4%	2.0%	3.2%	2.7%

	Vancouver	Calgary	Winnipeg	Toronto	Montreal	Halifax
Median age	32	33	29	31.5	30	30
Average age	33.6	35.7	34.1	34.7	33.3	34.2
Average # of occupants	1.8	2	2	1.9	1.7	2.2
Has children (%)	4.8%	12.9%	14.5%	8.0%	4.8%	10.3%
Average # of children	1.7	1.7	1.9	1.4	1.5	1.8
Has pets (%)	23.4%	29.7%	33.8%	16.0%	13.1%	27.6%
Full-time employment (%)	76.6%	76.1%	70.3%	78.3%	75.4%	76.4%
Part-time employment (%)	5.5%	5.9%	4.8%	4.7%	7.6%	5.4%
Self-employment (%)	7.9%	5.6%	3.4%	6.0%	3.9%	3.7%
Retired (%)	0.7%	3.1%	2.8%	1.9%	2.0%	3.4%
Unemployed (%)	2.2%	2.8%	4.8%	2.2%	1.8%	2.8%
Students (%)	5.2%	3.6%	3.4%	4.2%	6.3%	7.4%
Other (%)	2.0%	2.9%	10.3%	2.7%	3.1%	0.9%

	B.C.			ALBERTA					PRAIRIES		ONTARIO							QUEBEC			MARITIMES
	Victoria	Vancouver	Kelowna	Edmonton	Lethbridge	Red Deer	Fort Mcmurray	Medicine Hat	Regina	Winnipeg	Thunder Bay	Kingston	Barrie	Hamilton	London	Windsor	Greater Sudbury	Gatineau	Laval	Longueuil	Moncton
Median age	32	35	33	31.5	29	35	33.5	29	30	29	28	30	32.5	32	30	34	29	34	33	35	35
Average age	34.7	35.9	36.5	34.9	32.2	36.6	36.9	33.9	34	34.1	32.9	35.6	37.5	35.6	34.5	37	33.3	37.1	37.4	36	36.3
Average # of occupants	2	2.6	2	2	2.2	2.3	1.5	1.8	2.1	2	2.1	2	1.9	2	2.2	1.9	2.1	1.9	1.7	1.8	2.3
Has children (%)	9.3%	18.6%	13.3%	12.7%	13.4%	21.9%	5.3%	14.5%	7.9%	14.5%	10.9%	10.0%	11.7%	14.3%	12.4%	13.7%	8.9%	13.1%	9.4%	11.7%	24.0%
Average # of children	1.7	2.1	1.7	1.7	1.8	2.1	2.2	1.8	2.2	1.9	2	1.7	1.9	1.7	1.8	1.8	1.7	1.9	1.7	2.5	1.9
Has pets (%)	39.8%	47.7%	35.5%	32.4%	34.3%	42.9%	18.4%	44.7%	29.9%	33.8%	35.6%	32.8%	33.0%	30.6%	37.3%	26.8%	23.6%	19.5%	15.2%	12.2%	24.0%
Full-time employment (%)	77.0%	68.8%	66.1%	71.5%	67.7%	78.1%	88.2%	58.8%	78.0%	70.3%	79.2%	65.2%	75.0%	73.6%	64.3%	72.1%	76.4%	76.9%	83.0%	81.9%	72.0%
Part-time employment (%)	3.7%	8.0%	7.3%	5.4%	7.0%	7.6%	2.6%	13.4%	7.9%	4.8%	6.9%	8.7%	4.8%	7.5%	9.4%	7.0%	4.1%	6.4%	4.9%	7.4%	6.0%
Self-employment (%)	6.2%	4.5%	7.5%	4.8%	2.5%	1.0%	2.6%	3.4%	0.8%	3.4%	1.0%	2.0%	6.4%	4.7%	3.4%	4.2%	2.4%	3.2%	4.5%	2.7%	5.0%
Retired (%)	1.2%	3.0%	4.9%	2.1%	2.5%	4.8%	2.6%	2.7%	2.4%	2.8%	1.0%	6.7%	5.3%	3.5%	3.6%	4.2%	2.4%	4.0%	3.6%	1.1%	2.0%
Unemployed (%)	3.1%	5.0%	3.9%	4.0%	2.5%	0.0%	1.3%	3.8%	3.1%	4.8%	2.0%	4.0%	3.7%	1.9%	6.0%	3.1%	4.9%	1.6%	0.9%	1.6%	4.0%
Students (%)	5.0%	5.5%	4.9%	8.3%	8.5%	3.8%	2.6%	2.7%	3.9%	3.4%	5.0%	10.7%	0.5%	4.0%	7.0%	4.5%	8.1%	3.6%	1.8%	2.7%	8.0%
Other (%)	3.7%	5.0%	5.4%	3.8%	9.5%	4.8%	0.0%	15.3%	3.9%	10.3%	5.0%	2.7%	4.3%	4.8%	6.4%	5.0%	1.6%	4.4%	1.3%	2.7%	3.0%

What can a Canadian renter afford based on income?

The average Canadian renter earns a personal income of $72.9k and a household income of $113.9K. Rent alone consumes a little bit over one-quarter (28.1%) of earnings, and if debts are factored in, overall financial strain is increased to one-third (33.8%).

Renter Affordability

	Canada	B.C.	Alberta	Prairies	Ontario	Quebec	Maritimes
Rent price ($)	$2,051	$2,432	$1,886	$1,631	$2,227	$1,572	$1,950
Rent + debt price ($)	$2,681	$3,143	$2,580	$2,178	$2,846	$2,097	$2,598
Household income ($)	$113,970	$129,498	$114,860	$88,135	$118,930	$91,050	$107,477
Personal income ($)	$72,950	$80,728	$74,816	$59,513	$74,539	$62,856	$66,179
Rent-to-income (%)	28.1%	28.2%	25.8%	27.7%	28.9%	28.7%	28.2%
Monthly debt payments ($)	$638	$724	$688	$545	$632	$530	$643
Rent + debt-to-income (%)	33.8%	33.7%	32.1%	33.3%	34.4%	34.8%	33.7%

	GVA	Victoria CMA	Kelowna CMA	Calgary CMA	Edmonton CMA	Winnipeg CMA	GTA	KW / Cambridge	Ottawa - Gatineau	Montreal CMA	Halifax CMA
Rent price ($)	$2,652	$2,440	$2,259	$2,012	$1,808	$1,585	$2,550	$2,150	$2,236	$1,567	$2,180
Rent + debt price ($)	$3,374	$3,056	$2,996	$2,716	$2,499	$2,053	$3,250	$2,730	$2,883	$2,064	$2,970
Household income ($)	$138,327	$169,393	$121,155	$120,844	$113,150	$79,100	$138,285	$110,183	$115,696	$91,082	$121,492
Personal income ($)	$88,066	$89,388	$75,795	$80,359	$71,960	$55,500	$86,598	$66,627	$73,630	$63,108	$73,687
Rent-to-income (%)	27.5%	27.1%	28.6%	25.8%	25.6%	29.5%	28.0%	28.3%	29.1%	28.9%	29.2%
Monthly debt payments ($)	$740	$596	$750	$689	$695	$469	$722	$602	$644	$503	$785
Rent + debt-to-income (%)	32.7%	31.1%	34.5%	31.9%	32.1%	35.0%	33.0%	33.5%	35.1%	34.6%	34.4%

	Vancouver	Calgary	Winnipeg	Toronto	Montreal	Halifax
Rent price ($)	$2,833	$1,997	$1,572	$2,623	$1,545	$2,206
Rent + debt price ($)	$3,377	$2,689	$2,032	$3,286	$2,005	$3,045
Household income ($)	$154,162	$120,566	$78,607	$149,607	$89,349	$117,926
Has children (%)	4.8%	12.9%	14.5%	8.0%	4.8%	10.3%
Personal income ($)	$94,502	$80,664	$55,427	$93,279	$62,589	$69,369
Rent-to-income (%)	27.7%	25.8%	29.5%	27.4%	29.2%	30.0%
Monthly debt payments ($)	$618	$676	$462	$655	$459	$831
Rent + debt-to-income (%)	31.1%	31.8%	34.8%	31.6%	34.6%	34.6%

	B.C.			ALBERTA					PRAIRIES		ONTARIO							QUEBEC			MARITIMES
	Victoria	Nanaimo	Kelowna	Edmonton	Lethbridge	Red Deer	Fort Mcmurray	Medicine Hat	Regina	Winnipeg	Thunder Bay	Kingston	Barrie	Hamilton	London	Windsor	Greater Sudbury	Gatineau	Laval	Longueuil	Moncton
Rent price ($)	$2,466	$2,304	$2,247	$1,795	$1,826	$1,756	$1,711	$1,442	$1,670	$1,572	$2,111	$1,966	$2,041	$1,964	$1,815	$1,797	$1,780	$1,812	$1,519	$1,482	$1,733
Rent + debt price ($)	$3,102	$2,839	$2,941	$2,429	$2,212	$2,328	$3,077	$1,876	$2,253	$2,032	$2,627	$2,432	$2,600	$2,480	$2,298	$2,335	$2,232	$2,505	$2,063	$2,063	$2,177
Household income ($)	$177,031	$108,105	$119,027	$112,565	$97,272	$108,851	$131,676	$76,655	$92,003	$78,607	$115,851	$103,670	$94,935	$114,251	$98,444	$100,174	$84,391	$94,021	$87,312	$81,252	$97,682
Personal income ($)	$92,591	$61,181	$72,470	$72,031	$56,845	$72,165	$87,623	$46,488	$60,808	$55,427	$63,399	$63,244	$61,538	$70,485	$54,546	$63,569	$56,493	$64,187	$57,030	$57,248	$59,236
Has children (%)	9.3%	18.6%	13.3%	12.7%	13.4%	21.9%	5.3%	14.5%	7.9%	14.5%	10.9%	10.0%	11.7%	14.3%	12.4%	13.7%	8.9%	13.1%	9.4%	11.7%	24.0%
Rent-to-income (%)	26.4%	29.3%	29.2%	25.6%	27.9%	24.9%	20.5%	30.1%	26.5%	29.5%	30.7%	29.4%	31.5%	27.9%	30.0%	28.2%	29.9%	28.9%	28.2%	28.4%	25.3%
Monthly debt payments ($)	$613	$530	$692	$637	$398	$585	$1,337	$436	$570	$462	$507	$463	$538	$499	$503	$534	$457	$694	$559	$579	$420
Rent + debt-to-income (%)	30.7%	34.4%	34.6%	31.9%	32.2%	31.6%	28.0%	36.4%	31.9%	34.8%	34.3%	34.4%	37.3%	32.8%	35.5%	34.3%	35.5%	37.3%	34.9%	35.4%	30.2%

	Montreal	Calgary	Toronto	Edmonton	Ottawa	Hamilton	Kelowna	London	Vancouver	Mississauga	Windsor	Halifax	Kingston	Brampton	Kitchener	Medicine Hat	Gatineau	Oshawa	Laval	Lethbridge	Nanaimo	Surrey	Brantford	Longueuil	Barrie	St. Catharines	West Kelowna	Niagara Falls	Etobicoke	Victoria	Belleville	Winnipeg	Vaughan	Welland	Sault Ste. Marie	Markham	Regina	Oakville	Dartmouth	Greater Sudbury	Burlington	Cornwall	North York	Burnaby	Leduc	Red Deer	Thunder Bay	Riverview	Moncton	Cambridge	Coquitlam	Spruce Grove	Brossard	Penticton	Peterborough	Waterloo	Quinte West	Richmond	Guelph	Fort Mcmurray	Sarnia	Dieppe	Pickering	Richmond Hill	Airdrie	Maple Ridge	St. Albert	Beaumont	Bedford	Milton
Rent price ($)	$1,545	$1,997	$2,623	$1,795	$2,304	$1,964	$2,247	$1,815	$2,833	$2,453	$1,797	$2,206	$1,966	$2,417	$2,148	$1,442	$1,812	$2,136	$1,519	$1,826	$2,304	$2,259	$1,990	$1,482	$2,041	$1,973	$2,420	$1,784	$2,290	$2,466	$2,099	$1,572	$2,474	$1,749	$1,473	$2,568	$1,670	$2,970	$1,891	$1,780	$2,487	$1,757	$2,598	$2,483	$1,602	$1,756	$2,111	$1,434	$1,733	$2,078	$2,594	$1,902	$1,817	$2,113	$1,904	$2,248	$1,951	$2,731	$2,264	$1,711	$1,768	$1,655	$2,513	$2,927	$2,211	$2,595	$2,216	$1,533	$2,649	$2,516
Rent + debt price ($)	$2,005	$2,689	$3,286	$2,429	$2,944	$2,480	$2,941	$2,298	$3,377	$3,081	$2,335	$3,045	$2,432	$3,020	$2,725	$1,876	$2,505	$2,811	$2,063	$2,212	$2,839	$3,188	$2,535	$2,063	$2,600	$2,591	$3,392	$2,167	$2,697	$3,102	$2,859	$2,032	$3,061	$2,104	$1,785	$3,312	$2,253	$4,134	$2,462	$2,232	$3,751	$2,282	$3,447	$3,206	$2,774	$2,328	$2,627	$1,855	$2,177	$2,776	$3,311	$2,824	$2,437	$2,926	$2,652	$2,736	$2,485	$3,437	$3,297	$3,077	$2,209	$2,106	$3,527	$4,154	$3,229	$3,523	$3,081	$2,175	$3,610	$3,018
Household income ($)	$89,349	$120,566	$149,607	$112,565	$119,322	$114,251	$119,027	$98,444	$154,162	$132,667	$100,174	$117,926	$103,670	$112,709	$112,365	$76,655	$94,021	$98,705	$87,312	$97,272	$108,105	$118,786	$95,906	$81,252	$94,935	$100,864	$131,047	$88,638	$115,407	$177,031	$110,860	$78,607	$125,289	$78,481	$133,492	$134,655	$92,003	$160,898	$98,341	$84,391	$136,881	$91,548	$139,795	$118,851	$96,344	$108,851	$115,851	$82,429	$97,682	$104,984	$131,859	$99,549	$131,615	$122,990	$93,112	$114,359	$91,240	$155,171	$109,576	$131,676	$82,929	$97,722	$131,984	$147,875	$122,735	$156,932	$146,633	$92,281	$139,635	$127,179
Personal income ($)	$62,589	$80,664	$93,279	$72,031	$75,607	$70,485	$72,470	$54,546	$94,502	$82,922	$63,569	$69,369	$63,244	$66,388	$67,659	$46,488	$64,187	$65,019	$57,030	$56,845	$61,181	$75,385	$58,090	$57,248	$61,538	$65,430	$85,111	$51,713	$74,203	$92,591	$56,085	$55,427	$73,936	$49,768	$110,815	$87,079	$60,808	$102,685	$57,559	$56,493	$89,064	$58,379	$90,094	$88,118	$62,496	$72,165	$63,399	$55,028	$59,236	$68,013	$76,643	$70,003	$71,116	$88,289	$59,977	$63,394	$55,023	$89,878	$69,521	$87,623	$45,636	$57,553	$90,807	$75,362	$69,551	$91,460	$71,593	$58,137	$85,794	$75,808
Rent-to-income (%)	29.2%	25.8%	27.4%	25.6%	28.9%	27.9%	29.2%	30.0%	27.7%	26.3%	28.2%	30.0%	29.4%	29.1%	27.8%	30.1%	28.9%	30.2%	28.2%	27.9%	29.3%	26.6%	29.4%	28.4%	31.5%	28.7%	26.9%	31.5%	29.3%	26.4%	29.1%	29.5%	31.0%	31.0%	35.2%	27.8%	26.5%	27.6%	27.6%	29.9%	27.1%	29.3%	27.9%	25.9%	26.1%	24.9%	30.7%	25.5%	25.3%	29.8%	27.2%	25.2%	24.8%	28.1%	30.5%	27.8%	31.1%	26.9%	29.7%	20.5%	34.0%	27.1%	27.0%	27.0%	28.1%	23.1%	28.8%	25.2%	28.3%	30.2%
Monthly debt payments ($)	$459	$676	$655	$637	$637	$499	$692	$503	$618	$635	$534	$831	$463	$666	$583	$436	$694	$666	$559	$398	$530	$886	$559	$579	$538	$607	$1,006	$374	$403	$613	$731	$462	$619	$363	$313	$729	$570	$1,231	$583	$457	$1,179	$533	$803	$731	$1,122	$585	$507	$417	$420	$786	$837	$868	$660	$813	$740	$454	$531	$699	$980	$1,337	$450	$471	$987	$1,102	$992	$909	$865	$627	$948	$497
Rent + debt-to-income (%)	34.6%	31.8%	31.6%	31.9%	34.4%	32.8%	34.6%	35.5%	31.1%	31.4%	34.3%	34.6%	34.4%	35.4%	33.6%	36.4%	37.3%	37.4%	34.9%	32.2%	34.4%	33.9%	36.1%	35.4%	37.3%	35.5%	34.0%	36.3%	33.1%	30.7%	37.3%	34.8%	34.8%	35.3%	38.3%	34.1%	31.9%	34.7%	32.7%	35.5%	35.9%	37.6%	32.6%	31.5%	33.4%	31.6%	34.3%	31.7%	30.2%	35.6%	34.5%	34.6%	30.9%	35.6%	35.9%	30.3%	36.0%	32.6%	38.1%	28.0%	39.7%	32.2%	34.0%	32.0%	35.5%	30.1%	33.4%	33.6%	36.1%	35.7%

What is the average renter’s financial risk profile across Canada?

Rent is more affordable in central Canada, however these renters have higher collection rates, bankruptcies, and lower credit scores, indicating higher financial instability.

Risk Profiles

	Canada	B.C.	Alberta	Prairies	Ontario	Quebec	Maritimes
Credit score	701	701	696	680	708	689	699
Rent-to-income (%)	28.1%	28.2%	25.8%	27.7%	28.9%	28.7%	28.2%
Debt-to-income (%)	6.6%	6.6%	7.2%	6.8%	6.3%	6.8%	6.1%
Bankruptcies (%)	3.2%	3.1%	3.7%	2.6%	3.1%	3.0%	3.6%
Collections (%)	12.9%	13.2%	16.4%	20.8%	12.2%	10.2%	10.1%
Application declined (%)	15.5%	26.2%	13.9%	16.3%	15.4%	16.1%	6.4%

	GVA	Victoria CMA	Kelowna CMA	Calgary CMA	Edmonton CMA	Winnipeg CMA	GTA	KW / Cambridge	Ottawa - Gatineau	Montreal CMA	Halifax CMA
Credit score	715	697	693	711	687	676	733	697	722	689	708
Rent-to-income (%)	27.5%	27.1%	28.6%	25.8%	25.6%	29.5%	28.0%	28.3%	29.1%	28.9%	29.2%
Debt-to-income (%)	6.1%	4.9%	7.2%	7.2%	7.2%	6.5%	6.0%	6.7%	6.5%	6.4%	6.1%
Bankruptcies (%)	2.0%	4.6%	4.0%	2.7%	4.0%	2.7%	1.9%	1.8%	2.9%	2.4%	2.7%
Collections (%)	9.7%	14.9%	15.7%	12.5%	18.9%	21.3%	6.6%	12.9%	8.0%	9.9%	11.0%
Application declined (%)	11.7%	24.1%	34.3%	12.7%	12.6%	26.2%	10.1%	20.8%	11.4%	15.2%	6.2%

	Vancouver	Calgary	Winnipeg	Toronto	Montreal	Halifax
Credit score	740	714	674	742	691	719
Rent-to-income (%)	27.7%	25.8%	29.5%	27.4%	29.2%	30.0%
Debt-to-income (%)	4.3%	7.1%	6.4%	4.9%	5.8%	5.2%
Bankruptcies (%)	0.7%	2.4%	2.1%	1.0%	1.8%	1.4%
Collections (%)	5.7%	11.8%	21.7%	5.0%	9.1%	7.7%
Application declined (%)	6.2%	12.2%	27.0%	8.9%	15.3%	3.3%

	B.C.			ALBERTA					PRAIRIES		ONTARIO							QUEBEC			MARITIMES
	Victoria	Nanaimo	Kelowna	Edmonton	Lethbridge	Red Deer	Fort Mcmurray	Medicine Hat	Regina	Winnipeg	Thunder Bay	Kingston	Barrie	Hamilton	London	Windsor	Greater Sudbury	Gatineau	Laval	Longueuil	Moncton
Credit score	693	694	693	692	681	680	664	656	684	674	709	701	695	694	674	703	693	684	680	680	681
Rent-to-income (%)	26.4%	29.3%	29.2%	25.6%	27.9%	24.9%	20.5%	30.1%	26.5%	29.5%	30.7%	29.4%	31.5%	27.9%	30.0%	28.2%	29.9%	28.9%	28.2%	28.4%	25.3%
Debt-to-income (%)	4.7%	5.6%	6.7%	6.9%	4.7%	7.2%	9.4%	6.6%	7.5%	6.4%	4.8%	5.0%	8.5%	5.3%	5.9%	6.4%	5.6%	8.8%	7.7%	7.2%	4.8%
Bankruptcies (%)	4.4%	4.0%	3.5%	3.5%	3.5%	6.7%	7.9%	6.1%	2.4%	2.1%	3.0%	5.4%	5.9%	2.3%	4.8%	2.3%	0.8%	6.4%	5.4%	2.7%	4.1%
Collections (%)	16.2%	14.1%	14.5%	18.2%	17.6%	20.2%	11.8%	24.1%	22.0%	21.7%	10.9%	15.1%	13.4%	15.3%	20.0%	14.4%	13.1%	12.8%	12.6%	8.0%	10.2%
Application declined (%)	25.9%	16.7%	36.4%	12.7%	16.7%	30.0%	4.2%	23.5%	5.6%	27.0%	11.4%	16.4%	4.2%	35.5%	38.5%	16.2%	9.3%	27.5%	21.9%	17.5%	7.5%

	Montreal	Calgary	Toronto	Edmonton	Ottawa	Hamilton	Kelowna	London	Vancouver	Mississauga	Windsor	Halifax	Kingston	Brampton	Kitchener	Medicine Hat	Gatineau	Oshawa	Laval	Lethbridge	Nanaimo	Surrey	Brantford	Longueuil	Barrie	St. Catharines	West Kelowna	Niagara Falls	Etobicoke	Victoria	Belleville	Winnipeg	Vaughan	Welland	Sault Ste. Marie	Markham	Regina	Oakville	Dartmouth	Greater Sudbury	Burlington	Cornwall	North York	Burnaby	Leduc	Red Deer	Thunder Bay	Riverview	Moncton	Cambridge	Coquitlam	Spruce Grove	Brossard	Penticton	Peterborough	Waterloo	Quinte West	Richmond	Guelph	Fort Mcmurray	Sarnia	Dieppe	Pickering	Richmond Hill	Airdrie	Maple Ridge	St. Albert	Beaumont	Bedford	Milton
Credit score	691	714	742	692	730	694	693	674	740	723	703	719	701	714	701	656	684	683	680	681	694	679	657	680	695	695	680	655	730	693	686	674	727	642	613	746	684	748	690	693	726	673	747	724	645	680	709	713	681	661	705	658	689	698	691	724	642	742	729	664	636	708	715	746	643	721	694	644	701	712
Rent-to-income (%)	29.2%	25.8%	27.4%	25.6%	28.9%	27.9%	29.2%	30.0%	27.7%	26.3%	28.2%	30.0%	29.4%	29.1%	27.8%	30.1%	28.9%	30.2%	28.2%	27.9%	29.3%	26.6%	29.4%	28.4%	31.5%	28.7%	26.9%	31.5%	29.3%	26.4%	29.1%	29.5%	31.0%	31.0%	35.2%	27.8%	26.5%	27.6%	27.6%	29.9%	27.1%	29.3%	27.9%	25.9%	26.1%	24.9%	30.7%	25.5%	25.3%	29.8%	27.2%	25.2%	24.8%	28.1%	30.5%	27.8%	31.1%	26.9%	29.7%	20.5%	34.0%	27.1%	27.0%	27.0%	28.1%	23.1%	28.8%	25.2%	28.3%	30.2%
Debt-to-income (%)	5.8%	7.1%	4.9%	6.9%	6.1%	5.3%	6.7%	5.9%	4.3%	5.8%	6.4%	5.2%	5.0%	7.9%	7.0%	6.6%	8.8%	8.3%	7.7%	4.7%	5.6%	7.1%	7.6%	7.2%	8.5%	6.8%	9.8%	6.1%	4.5%	4.7%	7.8%	6.4%	6.1%	5.9%	4.4%	8.0%	7.5%	8.1%	5.1%	5.6%	10.0%	8.3%	6.2%	6.5%	8.2%	7.2%	4.8%	6.1%	4.8%	8.3%	8.1%	9.3%	7.4%	7.4%	9.0%	3.6%	7.7%	7.1%	8.3%	9.4%	5.9%	5.3%	6.7%	10.0%	9.9%	6.7%	7.9%	8.2%	9.2%	5.4%
Bankruptcies (%)	1.8%	2.4%	1.0%	3.5%	2.1%	2.3%	3.5%	4.8%	0.7%	2.6%	2.3%	1.4%	5.4%	2.3%	1.1%	6.1%	6.4%	6.9%	5.4%	3.5%	4.0%	2.0%	7.3%	2.7%	5.9%	4.9%	5.5%	5.9%	0.0%	4.4%	1.3%	2.1%	0.7%	11.8%	3.8%	0.0%	2.4%	0.8%	5.6%	0.8%	4.3%	3.4%	2.0%	0.9%	1.9%	6.7%	3.0%	4.0%	4.1%	3.1%	0.0%	7.4%	1.1%	4.5%	4.9%	2.5%	11.5%	0.0%	2.6%	7.9%	7.9%	1.3%	6.9%	0.0%	7.5%	1.5%	1.5%	11.9%	4.5%	0.0%
Collections (%)	9.1%	11.8%	5.0%	18.2%	6.7%	15.3%	14.5%	20.0%	5.7%	7.3%	14.4%	7.7%	15.1%	10.6%	12.8%	24.1%	12.8%	19.3%	12.6%	17.6%	14.1%	14.8%	26.9%	8.0%	13.4%	15.3%	20.9%	24.7%	4.5%	16.2%	17.0%	21.7%	5.0%	25.7%	37.9%	0.8%	22.0%	1.6%	15.1%	13.1%	10.3%	11.0%	6.1%	8.2%	27.4%	20.2%	10.9%	8.9%	10.2%	17.5%	7.1%	24.2%	12.0%	15.7%	23.5%	7.4%	29.5%	9.0%	7.8%	11.8%	28.9%	1.3%	11.1%	8.6%	34.3%	11.9%	20.6%	16.4%	13.6%	10.6%
Application declined (%)	15.3%	12.2%	8.9%	12.7%	4.2%	35.5%	36.4%	38.5%	6.2%	9.9%	16.2%	3.3%	16.4%	24.6%	25.0%	23.5%	27.5%	20.4%	21.9%	16.7%	16.7%	21.6%	37.5%	17.5%	4.2%	12.0%	41.9%	6.2%	7.1%	25.9%	61.1%	27.0%	15.9%	28.6%	36.8%	27.8%	5.6%	3.8%	19.4%	9.3%	0.0%	23.5%	5.0%	5.3%	14.6%	30.0%	11.4%	5.2%	7.5%	15.4%	28.6%	10.7%	5.9%	15.9%	18.8%	0.0%	35.0%	0.0%	0.0%	4.2%	0.0%	3.3%	11.1%	0.0%	11.1%	0.0%	8.3%	0.0%	0.0%	0.0%

Affordability Depends on Whether Income Keeps Pace, Not City Size

A common assumption is that smaller cities are more affordable than major metros. Our data shows affordability depends less on rent prices and more on whether local incomes have kept pace. Lower rents don’t automatically translate into lower financial pressure for renters.

That’s why several secondary markets (including Barrie, Thunder Bay, Medicine Hat, London, Halifax, and Greater Sudbury) have some of the highest rent-to-income ratios in the country despite charging less rent than Toronto or Vancouver. Meanwhile, Toronto, Vancouver, Calgary, Edmonton, Moncton, and Victoria all sit at or below the national average because renter incomes have kept pace more effectively.

This affordability gap shapes who can realistically live in each market. Cities like Moncton and Calgary support larger renter-family populations while maintaining healthy affordability, whereas Winnipeg shows families often pay a premium to stay there. We also see a separate roommate economy emerge in places like Nanaimo and Halifax, where larger households are driven primarily by adults sharing housing rather than families.

Key Takeaways

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Lower rents don’t always mean greater affordability

Only about one-third of cities exceed the 30% rent-to-income threshold, and nearly all are secondary markets. Despite their lower rents, cities like Barrie and Thunder Bay place a greater income burden on renters than Toronto or Vancouver, where incomes have kept pace more effectively.

check_circle_outline

Moncton and Calgary are genuinely affordable family markets

These cities pair strong renter-family populations with healthy rent-to-income ratios. Moncton has the highest share of renter families in the dataset (24%), while Calgary combines a large family presence with the lowest rent-to-income ratio of any major city (25.8%).

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Not every large household is a family household (emerging roommate economies)

Nanaimo and Halifax have the largest average household sizes in their respective groups, but relatively modest shares of households with children. Instead, much of that additional occupancy comes from unrelated adults sharing rent, creating a distinct roommate economy.

Renter Affordability Analysis

Affordability depends on income, not rent

Comparing rent, household income, remaining income, and rent-to-income ratios across Canada reveals that affordability is driven by earnings rather than housing costs alone. Some of the country’s most expensive rental markets also leave renters with the most disposable income, while several lower-cost markets remain less affordable because local incomes have not kept pace.

Monthly income, rent and expenses

How to read this chart: Bars show average monthly household income, broken into rent, debt payments, and remaining income. The black line shows the share of income spent on rent. Together, they illustrate why similar rents can produce very different affordability outcomes.

Take Home pay Affordability analysis

Take-home pay, not rent, determines affordability

The most expensive rental markets are not necessarily the least affordable. Comparing monthly rent, household income, remaining income after rent and debt payments, and rent-to-income ratios shows that affordability is driven by earnings (not rent prices alone). Cities like Toronto and Vancouver have among the highest rents but also leave renters with more disposable income than many lower-cost secondary markets, where wages have not kept pace with housing costs.

Monthly Rent, Remaining Income, and Affordability

Household composition analysis

There are two kinds of family markets

Moncton, Red Deer, and Calgary are examples of family markets where incomes have kept pace with housing costs, supporting both affordability and larger renter families. Winnipeg is the exception: it has the country’s largest share of renter families, but those households face significantly higher rent burdens, showing that family presence alone is not a sign of affordability.

Household size and share of renters with children

How to read this chart: Bars represent the average renter household size, broken into estimated adults and children. The black line indicates the share of renter households with children. Comparing the bars to the line helps distinguish family-driven household growth (larger households with many families) from shared-housing growth (larger households with relatively few families).

Rent vs Income Analysis

Sharing housing dramatically improves affordability

Across every province, major city, and secondary market, households spend a much smaller share of their income on rent than individuals. This reflects the financial benefit of multiple income earners sharing housing costs. While household affordability generally falls below the 30% benchmark, individual renters in many markets face significantly higher rent burdens, highlighting the growing importance of shared housing and dual-income households in maintaining affordability.

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How to read this chart: Each city shows rent as a share of personal income and household income. The gap between the two reflects how renting is more affordable on two incomes instead of one. All income is measured as gross monthly income before taxes.

Cost of Rent Analysis

Rent prices reflect regional markets, not just major cities

While Vancouver and Toronto remain Canada’s most expensive rental markets, they are not isolated outliers. Across Canada, rents in major cities closely track provincial averages, suggesting regional housing markets have a greater influence on rental prices than city size alone. Quebec and the Prairies remain the country’s most affordable regions, while B.C. and Ontario continue to command a premium across both metropolitan and secondary markets.

Average Monthly Rent (Major City vs Province)

Average Monthly Rent Secondary Markets (By Province)

How to read this chart: The first chart compares average monthly rent across provinces alongside their largest and secondary markets. The second compares each province’s average rent to its largest city, showing how closely metropolitan rents align with broader regional pricing.

Renter Income Analysis

Renter Financial Health Is Improving, But Legacy Debt Persists

Canadian renters are becoming more financially resilient. Household income increased 4.6% year over year while rent-to-income improved from 29.4% to 28.1%, driven by both income growth and lower average rents. Credit scores also rose from 697 to 701, suggesting stronger overall creditworthiness.

Despite these improvements, collections activity increased from 10.9% to 12.9%. Nearly half of renters still earn under $60,000, but collections are rising across all income brackets, not just lower-income households. This suggests that unresolved legacy debt, such as unpaid utility bills, telecommunications balances, or other delinquent accounts, continues to affect renters regardless of current earning power.

National Average Credit Score

701

arrow_drop_up 3.7% YoY

National Average Household Income

$113,970

arrow_drop_up 4.6% YoY

Collections

12.9%

arrow_drop_up 2.0% YOY

National Average Personal Income

Title

	Canada	B.C.	Alberta	Prairies	Ontario	Quebec	Maritimes
Credit Score	701	701	696	680	708	689	699
Rent price ($)	$2,051	$2,432	$1,886	$1,631	$2,227	$1,572	$1,950
Rent Price YoY Change	-2.1%	-3.8%	-1.3%	-2.0%	+0.5%	-7.0%	+1.5%
Rent-to-income (%)	28.1%	28.2%	25.8%	27.7%	28.9%	28.7%	28.2%
Household income ($)	$113,970	$129,498	$114,860	$88,135	$118,930	$91,050	$107,477
Household income YoY Change	+4.6%	+1.2%	+3.5%	-8.6%	+7.9%	+3.8%	+9.7%
Personal income ($)	$72,950	$80,728	$74,816	$59,513	$74,539	$62,856	$66,179
Personal income YoY Change	+3.0%	-1.8%	+2.1%	-0.2%	+5.4%	+3.1%	+7.5%
Collections	12.9%	13.2%	16.4%	20.8%	12.2%	10.2%	10.1%
Collections YoY Change	+18.4%	+41.5%	+19.8%	+14.0%	+18.0%	+34.0%	-16.4%

	GVA	Victoria CMA	Kelowna CMA	Calgary CMA	Edmonton CMA	Winnipeg CMA	GTA	KW / Cambridge	Ottawa - Gatineau	Montreal CMA	Halifax CMA
Credit Score	715	697	693	711	687	676	733	697	722	689	708
Rent price ($)	$2,652	$2,440	$2,259	$2,012	$1,808	$1,585	$2,550	$2,150	$2,236	$1,567	$2,180
Rent Price YoY Change	-3.0%	+0.1%	-2.5%	-2.4%	-1.4%	-8.3%	-3.5%	+0.4%	+3.6%	-8.1%	-1.1%
Rent-to-income (%)	27.5%	27.1%	28.6%	25.8%	25.6%	29.5%	28.0%	28.3%	29.1%	28.9%	29.2%
Household income ($)	$138,327	$169,393	$121,155	$120,844	$113,150	$79,100	$138,285	$110,183	$115,696	$91,082	$121,492
Household income YoY Change	+1.0%	+43.7%	-2.2%	+3.9%	+4.0%	-20.8%	+6.2%	+2.9%	+2.1%	+3.9%	+4.6%
Personal income ($)	$88,066	$89,388	$75,795	$80,359	$71,960	$55,500	$86,598	$66,627	$73,630	$63,108	$73,687
Personal income YoY Change	+0.7%	+16.0%	-2.9%	+4.4%	+1.4%	-7.2%	+1.5%	+0.1%	+1.9%	+3.5%	+3.7%
Collections	9.7%	14.9%	15.7%	12.5%	18.9%	21.3%	6.6%	12.9%	8.0%	9.9%	11.0%
Collections YoY Change	+18.5%	+161.9%	+51.4%	+53.5%	-1.6%	+6.7%	+14.9%	+98.2%	+27.8%	+42.5%	-4.9%

	Vancouver	Calgary	Winnipeg	Toronto	Montreal	Halifax
Credit Score	740	714	674	742	691	719
Rent price ($)	$2,833	$1,997	$1,572	$2,623	$1,545	$2,206
Rent Price YoY Change	-6.0%	-2.8%	-8.9%	-5.0%	-8.8%	+5.5%
Rent-to-income (%)	27.7%	25.8%	29.5%	27.4%	29.2%	30.0%
Household income ($)	$154,162	$120,566	$78,607	$149,607	$89,349	$117,926
Household income YoY Change	+2.5%	+3.2%	-20.5%	+5.1%	+3.2%	+5.1%
Personal income ($)	$94,502	$80,664	$55,427	$93,279	$62,589	$69,369
Personal income YoY Change	-2.4%	+4.2%	-6.2%	-2.9%	+3.1%	-6.2%
Collections	5.7%	11.8%	21.7%	5.0%	9.1%	7.7%
Collections YoY Change	+18.3%	+55.5%	+7.3%	+33.5%	+61.7%	-19.6%

	B.C.			ALBERTA					PRAIRIES		ONTARIO							QUEBEC			MARITIMES
	Victoria	Nanaimo	Kelowna	Edmonton	Lethbridge	Red Deer	Fort Mcmurray	Medicine Hat	Regina	Winnipeg	Thunder Bay	Kingston	Barrie	Hamilton	London	Windsor	Greater Sudbury	Gatineau	Laval	Longueuil	Moncton
Credit Score	693	694	693	692	681	680	664	656	684	674	709	701	695	694	674	703	693	684	680	680	681
Rent price ($)	$2,466	$2,304	$2,247	$1,795	$1,826	$1,756	$1,711	$1,442	$1,670	$1,572	$2,111	$1,966	$2,041	$1,964	$1,815	$1,797	$1,780	$1,812	$1,519	$1,482	$1,733
Rent Price YoY Change	+3.2%	+6.0%	-2.3%	-1.5%	+8.6%	+2.8%	-1.1%	-1.7%	+7.4%	-8.9%	+7.7%	+6.1%	-3.1%	+0.9%	+4.1%	-8.4%	-5.0%	+8.0%	-10.2%	-10.5%	+7.2%
Rent-to-income (%)	26.4%	29.3%	29.2%	25.6%	27.9%	24.9%	20.5%	30.1%	26.5%	29.5%	30.7%	29.4%	31.5%	27.9%	30.0%	28.2%	29.9%	28.9%	28.2%	28.4%	25.3%
Household income ($)	$177,031	$108,105	$119,027	$112,565	$97,272	$108,851	$131,676	$76,655	$92,003	$78,607	$115,851	$103,670	$94,935	$114,251	$98,444	$100,174	$84,391	$94,021	$87,312	$81,252	$97,682
Household income YoY Change	+56.2%	+22.2%	-6.2%	+4.4%	+22.0%	-1.3%	-2.9%	-6.8%	+1.6%	-20.5%	+6.6%	+25.6%	-6.3%	+16.5%	+3.2%	+5.0%	-21.5%	+10.0%	-6.8%	-1.1%	+25.9%
Personal income ($)	$92,591	$61,181	$72,470	$72,031	$56,845	$72,165	$87,623	$46,488	$60,808	$55,427	$63,399	$63,244	$61,538	$70,485	$54,546	$63,569	$56,493	$64,187	$57,030	$57,248	$59,236
Personal income YoY Change	+27.1%	+10.8%	-10.5%	+5.0%	+2.3%	-7.3%	-12.6%	-12.7%	+5.9%	-6.2%	+5.0%	+13.4%	-6.8%	+19.7%	-16.2%	-0.6%	-16.2%	+6.6%	-3.8%	-9.9%	+9.9%
Collections	16.2%	14.1%	14.5%	18.2%	17.6%	20.2%	11.8%	24.1%	22.0%	21.7%	10.9%	15.1%	13.4%	15.3%	20.0%	14.4%	13.1%	12.8%	12.6%	8.0%	10.2%
Collections YoY Change	+171.6%	+6.9%	+56.4%	-4.2%	+36.3%	+125.5%	-16.3%	+46.8%	+15.3%	+7.3%	+150.5%	+5.7%	-34.0%	+26.8%	+18.4%	-3.0%	-6.8%	+36.9%	+1.7%	-0.8%	+97.3%

	Montreal	Calgary	Toronto	Edmonton	Ottawa	Hamilton	Kelowna	London	Vancouver	Mississauga	Windsor	Halifax	Kingston	Brampton	Kitchener	Medicine Hat	Gatineau	Oshawa	Laval	Lethbridge	Nanaimo	Surrey	Brantford	Longueuil	Barrie	St. Catharines	West Kelowna	Niagara Falls	Etobicoke	Victoria	Belleville	Winnipeg	Vaughan	Welland	Sault Ste. Marie	Markham	Regina	Oakville	Dartmouth	Greater Sudbury	Burlington	Cornwall	North York	Burnaby	Leduc	Red Deer	Thunder Bay	Riverview	Moncton	Cambridge	Coquitlam	Spruce Grove	Brossard	Penticton	Peterborough	Waterloo	Quinte West	Richmond	Guelph	Fort Mcmurray	Sarnia	Dieppe	Pickering	Richmond Hill	Airdrie	Maple Ridge	St. Albert	Beaumont	Bedford	Milton
Credit Score	691	714	742	692	730	694	693	674	740	723	703	719	701	714	701	656	684	683	680	681	694	679	657	680	695	695	680	655	730	693	686	674	727	642	613	746	684	748	690	693	726	673	747	724	645	680	709	713	681	661	705	658	689	698	691	724	642	742	729	664	636	708	715	746	643	721	694	644	701	712
Rent price ($)	$1,545	$1,997	$2,623	$1,795	$2,304	$1,964	$2,247	$1,815	$2,833	$2,453	$1,797	$2,206	$1,966	$2,417	$2,148	$1,442	$1,812	$2,136	$1,519	$1,826	$2,304	$2,259	$1,990	$1,482	$2,041	$1,973	$2,420	$1,784	$2,290	$2,466	$2,099	$1,572	$2,474	$1,749	$1,473	$2,568	$1,670	$2,970	$1,891	$1,780	$2,487	$1,757	$2,598	$2,483	$1,602	$1,756	$2,111	$1,434	$1,733	$2,078	$2,594	$1,902	$1,817	$2,113	$1,904	$2,248	$1,951	$2,731	$2,264	$1,711	$1,768	$1,655	$2,513	$2,927	$2,211	$2,595	$2,216	$1,533	$2,649	$2,516
Rent Price YoY Change	-8.8%	-2.8%	-5.0%	-1.5%	+3.1%	+0.9%	-2.3%	+4.1%	-6.0%	-1.2%	-8.4%	+5.5%	+6.1%	-6.8%	+2.1%	-1.7%	+8.0%	-4.4%	-10.2%	+8.6%	+6.0%	-9.1%	+3.5%	-10.5%	-3.1%	-2.5%	+8.5%	+12.7%	-12.5%	+3.2%	-0.9%	-8.9%	+3.8%	-0.3%	-7.7%	-7.7%	+7.4%	+8.9%	-17.7%	-5.0%	-11.7%	+0.5%	+11.2%	-8.4%	-5.9%	+2.8%	+7.7%	-4.3%	+7.2%	+5.0%	+1.0%	-1.5%	-22.1%	-14.6%	-8.1%	-2.4%	+10.3%	+5.2%	+9.0%	-1.1%	-18.8%	-8.1%	-0.0%	+7.7%	+1.7%	+4.5%	+12.9%	-14.4%	+9.7%	+5.0%
Rent-to-income (%)	29.2%	25.8%	27.4%	25.6%	28.9%	27.9%	29.2%	30.0%	27.7%	26.3%	28.2%	30.0%	29.4%	29.1%	27.8%	30.1%	28.9%	30.2%	28.2%	27.9%	29.3%	26.6%	29.4%	28.4%	31.5%	28.7%	26.9%	31.5%	29.3%	26.4%	29.1%	29.5%	31.0%	31.0%	35.2%	27.8%	26.5%	27.6%	27.6%	29.9%	27.1%	29.3%	27.9%	25.9%	26.1%	24.9%	30.7%	25.5%	25.3%	29.8%	27.2%	25.2%	24.8%	28.1%	30.5%	27.8%	31.1%	26.9%	29.7%	20.5%	34.0%	27.1%	27.0%	27.0%	28.1%	23.1%	28.8%	25.2%	28.3%	30.2%
Household income ($)	$89,349	$120,566	$149,607	$112,565	$119,322	$114,251	$119,027	$98,444	$154,162	$132,667	$100,174	$117,926	$103,670	$112,709	$112,365	$76,655	$94,021	$98,705	$87,312	$97,272	$108,105	$118,786	$95,906	$81,252	$94,935	$100,864	$131,047	$88,638	$115,407	$177,031	$110,860	$78,607	$125,289	$78,481	$133,492	$134,655	$92,003	$160,898	$98,341	$84,391	$136,881	$91,548	$139,795	$118,851	$96,344	$108,851	$115,851	$82,429	$97,682	$104,984	$131,859	$99,549	$131,615	$122,990	$93,112	$114,359	$91,240	$155,171	$109,576	$131,676	$82,929	$97,722	$131,984	$147,875	$122,735	$156,932	$146,633	$92,281	$139,635	$127,179
Household income YoY Change	+3.2%	+3.2%	+5.1%	+4.4%	+0.2%	+16.5%	-6.2%	+3.2%	+2.5%	+4.2%	+5.0%	+5.1%	+25.6%	+7.3%	+12.0%	-6.8%	+10.0%	-0.5%	-6.8%	+22.0%	+22.2%	-11.9%	-10.1%	-1.1%	-6.3%	-0.8%	+11.1%	+16.9%	-2.3%	+56.2%	+8.7%	-20.5%	+8.1%	+7.7%	+58.6%	+6.5%	+1.6%	+19.6%	-20.7%	-21.5%	+8.2%	+1.6%	+18.4%	-9.4%	-7.4%	-1.3%	+6.6%	+14.2%	+25.9%	+12.4%	+11.5%	-15.0%	+4.5%	+1.5%	-1.4%	-14.4%	+13.6%	+39.9%	-10.0%	-2.9%	-1.9%	+17.6%	+7.6%	+20.9%	+7.2%	+35.0%	+14.0%	-2.8%	+16.7%	-1.4%
Personal income ($)	$62,589	$80,664	$93,279	$72,031	$75,607	$70,485	$72,470	$54,546	$94,502	$82,922	$63,569	$69,369	$63,244	$66,388	$67,659	$46,488	$64,187	$65,019	$57,030	$56,845	$61,181	$75,385	$58,090	$57,248	$61,538	$65,430	$85,111	$51,713	$74,203	$92,591	$56,085	$55,427	$73,936	$49,768	$110,815	$87,079	$60,808	$102,685	$57,559	$56,493	$89,064	$58,379	$90,094	$88,118	$62,496	$72,165	$63,399	$55,028	$59,236	$68,013	$76,643	$70,003	$71,116	$88,289	$59,977	$63,394	$55,023	$89,878	$69,521	$87,623	$45,636	$57,553	$90,807	$75,362	$69,551	$91,460	$71,593	$58,137	$85,794	$75,808
Personal income YoY Change	+3.1%	+4.2%	-2.9%	+5.0%	+0.8%	+19.7%	-10.5%	-16.2%	-2.4%	-0.7%	-0.6%	-6.2%	+13.4%	+13.1%	+11.4%	-12.7%	+6.6%	+10.1%	-3.8%	+2.3%	+10.8%	-11.3%	+1.6%	-9.9%	-6.8%	+9.9%	+23.5%	+20.2%	+5.1%	+27.1%	+12.0%	-6.2%	-0.7%	+5.9%	+132.5%	+10.7%	+5.9%	+15.6%	-12.0%	-16.2%	+5.3%	-12.0%	+21.7%	-0.9%	-13.0%	-7.3%	+5.0%	-6.8%	+9.9%	+5.5%	-4.5%	-16.5%	-0.9%	+25.5%	+2.7%	-22.8%	+1.5%	+21.6%	+1.3%	-12.6%	-27.7%	+7.4%	+5.1%	-6.0%	-2.7%	+24.9%	-23.2%	-15.2%	+14.3%	-5.6%
Collections	9.1%	11.8%	5.0%	18.2%	6.7%	15.3%	14.5%	20.0%	5.7%	7.3%	14.4%	7.7%	15.1%	10.6%	12.8%	24.1%	12.8%	19.3%	12.6%	17.6%	14.1%	14.8%	26.9%	8.0%	13.4%	15.3%	20.9%	24.7%	4.5%	16.2%	17.0%	21.7%	5.0%	25.7%	37.9%	0.8%	22.0%	1.6%	15.1%	13.1%	10.3%	11.0%	6.1%	8.2%	27.4%	20.2%	10.9%	8.9%	10.2%	17.5%	7.1%	24.2%	12.0%	15.7%	23.5%	7.4%	29.5%	9.0%	7.8%	11.8%	28.9%	1.3%	11.1%	8.6%	34.3%	11.9%	20.6%	16.4%	13.6%	10.6%
Collections YoY Change	+61.7%	+55.5%	+33.5%	-4.2%	+31.0%	+26.8%	+56.4%	+18.4%	+18.3%	+84.2%	-3.0%	-19.6%	+5.7%	-2.8%	+82.6%	+46.8%	+36.9%	+34.4%	+1.7%	+36.3%	+6.9%	+43.9%	+53.1%	-0.8%	-34.0%	+31.4%	+30.1%	+8.3%	-58.1%	+171.6%	-10.8%	+7.3%	-33.8%	-10.9%	+225.1%	-50.8%	+15.3%	-55.6%	+10.3%	-6.8%	+556.4%	+2.2%	-61.6%	+718.2%	-9.1%	+125.5%	+150.5%	-60.5%	+97.3%	+96.3%	-17.3%	+161.5%	+175.0%	+93.3%	+105.9%	+181.5%	+55.5%	-10.3%	-11.2%	-16.3%	+4.2%	-32.0%	+166.7%	+75.7%	+187.5%	-4.5%	+183.1%	-5.6%	-7.3%	+10.3%

Credit Scores Tell Only Part of the Story

Renters are becoming more creditworthy, but risk isn’t disappearing

Canadian renters continue to build stronger credit profiles, with average credit scores improving across nearly every major market. At the same time, collections activity is increasing in many cities, showing that stronger credit scores don’t necessarily translate into lower financial risk. Creditworthiness and collections are becoming increasingly decoupled, making it important to evaluate multiple indicators rather than relying on a single metric.

Employment type also tells a weaker risk story than many assume. Self-employed renters now average a 708 credit score. This is higher than full-time employees (701) and part-time workers (699). The largest differences appear between renters with stable income of any kind and those without, with retirees posting the strongest scores and unemployed renters the weakest.

National Average Credit Score

701

arrow_drop_up 3.7% YoY

National Average Credit Score

National Credit Score Breakdown

Rank	Score range	Segment size
Low	360-559	11.8%
Fair	560-639	12.7%
Good	640-699	19.0%
Great	700-759	24.5%
Excellent	760+	32.0%

Average Credit Score by City

Major city	Score	Secondary city	Score
Vancouver	740	Kelowna	693
Calgary	714	Edmonton	692
Winnipeg	674	Regina	684
Toronto	742	Thunder Bay	709
Montreal	691	Gatineau	684
Halifax	719	Moncton	681

Credit Score Varies Little By Employment Type

Key Takeaways

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Stronger, more reliable renters nationwide

Canada’s rental market continues to strengthen. National credit scores increased from 697 to 701, while bankruptcies declined from 3.4% to 3.2% year over year. Together, these trends point to improving tenant financial health and a more stable rental environment for landlords.

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Self-employment isn't a credit red flag... it's not even second place

Self-employed renters average a 708 credit score—higher than full-time (701) and part-time (699) employees. The real divide isn’t employment type, but income stability: unemployed renters (663) and those outside the workforce (656) score well below every employed group.

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Regional risk varies more than city size

Tenant risk differs significantly across regions, regardless of market size. Collections, bankruptcies, and credit scores vary widely between cities, reinforcing the need for market-specific screening policies rather than relying on broad assumptions about major or secondary markets.

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Credit scores alone are no longer enough to tell the whole story

National credit scores rose to 701 and bankruptcies fell to 3.2%, yet collections increased from 10.9% to 12.9%. This suggests many renters are carrying unresolved debts despite improving credit profiles, making collections data an important complement to credit scores when assessing tenant risk.

Hidden Financial Risk Varies by Market

Credit score does not fully reveal risk

Average credit scores only tell part of the story. The biggest differences between rental markets emerge when collections, bankruptcies, and credit scores are evaluated together. Cities with similar credit profiles can have dramatically different repayment behaviour, while markets with lower credit scores don’t always experience the highest financial distress.

Looking across provinces, metropolitan areas, major cities, and secondary markets reveals that tenant risk is highly localized rather than regional. High-risk markets exist in every part of the country, reinforcing that investment decisions and screening policies should be based on local market conditions, rather than broad assumptions about provinces, major cities, or secondary markets.

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Collections reveal hidden financial stress

While bankruptcies remain relatively low across Canada, collections vary dramatically between markets, suggesting unresolved consumer debt is a more useful leading indicator of tenant payment risk.

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Credit scores alone don’t predict payment risk

Markets with similar credit scores often produce very different collections and bankruptcy outcomes, reinforcing the need to evaluate multiple financial indicators when screening tenants.

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Tailor screening to the market

Markets with elevated collections or bankruptcy rates may warrant stronger screening standards, larger financial buffers, or additional income verification, while lower-risk markets may allow greater flexibility.

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Risk is local, rather than not regional

No province or market type is universally high or low risk. Tenant reliability varies substantially between neighbouring cities, making screening applicants increasingly important. Every applicant must be evaluated on a case by case basis.

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SingleKey Rental Intelligence Report

Applicant Overview

National Average Credit Score

701

Average # of occupants

2

Households with pets

27.8%

Households with children

12.4%

Avg Credit Score and Affordability Overview

Average Monthly Rent

$2,051

Monthly Debt and Rent

$2,681

Avg Household Income

$113,970

Avg Personal Income

$72,950

Employment breakdown

Top Line Insights

Who is the average Canadian renter?

Renter Demographics

What can a Canadian renter afford based on income?

Renter Affordability

What is the average renter’s financial risk profile across Canada?

Risk Profiles

Affordability Depends on Whether Income Keeps Pace, Not City Size

Key Takeaways

Lower rents don’t always mean greater affordability

Moncton and Calgary are genuinely affordable family markets

Not every large household is a family household (emerging roommate economies)

Renter Affordability Analysis

Affordability depends on income, not rent

Monthly income, rent and expenses

Take Home pay Affordability analysis

Take-home pay, not rent, determines affordability

Monthly Rent, Remaining Income, and Affordability

Household composition analysis

There are two kinds of family markets

Household size and share of renters with children

Rent vs Income Analysis

Sharing housing dramatically improves affordability

Your title

Cost of Rent Analysis

Rent prices reflect regional markets, not just major cities

Average Monthly Rent (Major City vs Province)

Average Monthly Rent Secondary Markets (By Province)

Renter Income Analysis

Renter Financial Health Is Improving, But Legacy Debt Persists

National Average Credit Score

701

National Average Household Income

$113,970

Collections

12.9%

National Average Personal Income

Title

Credit Scores Tell Only Part of the Story

Renters are becoming more creditworthy, but risk isn’t disappearing

National Average Credit Score

701

National Average Credit Score

National Credit Score Breakdown

Average Credit Score by City

Credit Score Varies Little By Employment Type

Key Takeaways

Stronger, more reliable renters nationwide

Self-employment isn't a credit red flag... it's not even second place

Regional risk varies more than city size