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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 during 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 time74.8%
Part time6.1%
Self-employed5.0%
Student4.4%
Other3.8%
Retired/Pension3.5%
Unemployed2.9%

Executive Summary

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.

View our previous report from 2025 here.

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
CanadaB.C.AlbertaPrairiesOntarioQuebecMaritimes
Median age33343330333133
Average age35.936.735.734.236.234.836.2
Average # of occupants2222.121.82.1
Has children12.4%14.3%13.9%12.2%12.9%6.9%16.2%
Average # of children1.81.81.81.91.81.71.8
Has pets27.8%35.0%33.6%30.9%26.7%16.2%32.2%
Full-time employment74.3%73.1%73.7%74.9%74.2%76.4%74.8%
Part-time employment6.1%5.6%6.2%5.8%6.1%6.9%4.7%
Self-employment5.0%6.9%4.9%3.5%5.1%3.8%4.6%
Retired3.5%3.5%3.1%2.0%3.9%2.7%4.6%
Unemployed2.9%3.2%3.2%3.2%3.1%1.8%2.9%
Students4.4%3.5%4.9%3.5%4.1%5.0%5.0%
Other3.8%4.2%4.1%7.0%3.6%3.5%3.3%
GVAVictoria CMAKelowna CMACalgary CMAEdmonton CMAWinnipeg CMAGTAKW / CambridgeOttawa - GatineauMontreal CMAHalifax CMA
Median age343235333230.53232333132
Average age36.334.537.435.835.734.935.735.436.434.335.5
Average # of occupants222222.122.121.72.2
Has children13.2%9.1%14.7%13.7%13.5%16.4%11.0%15.4%11.7%6.2%15.0%
Average # of children1.71.71.71.81.72.11.61.61.81.71.8
Has pets27.9%38.1%38.9%31.0%34.7%36.2%15.5%36.2%23.0%14.8%31.5%
Full-time employment78.3%77.8%67.5%76.4%71.6%69.1%78.2%77.0%73.4%76.6%76.3%
Part-time employment4.7%3.4%6.7%5.8%5.6%4.6%4.6%5.2%6.3%7.0%4.5%
Self-employment6.8%6.2%7.8%5.5%4.8%3.9%6.6%4.6%3.7%3.9%4.4%
Retired2.1%1.1%5.3%3.1%3.0%3.9%2.4%3.0%4.5%2.4%3.6%
Unemployed2.6%2.8%3.4%2.8%4.0%4.6%2.3%2.6%3.2%1.9%3.4%
Students2.8%4.5%4.0%3.5%7.3%3.3%3.2%5.2%6.9%5.1%5.0%
Other2.7%4.0%5.3%2.8%3.9%10.5%2.7%2.4%2.0%3.2%2.7%
VancouverCalgaryWinnipegTorontoMontrealHalifax
Median age32332931.53030
Average age33.635.734.134.733.334.2
Average # of occupants1.8221.91.72.2
Has children4.8%12.9%14.5%8.0%4.8%10.3%
Average # of children1.71.71.91.41.51.8
Has pets23.4%29.7%33.8%16.0%13.1%27.6%
Full-time employment76.6%76.1%70.3%78.3%75.4%76.4%
Part-time employment5.5%5.9%4.8%4.7%7.6%5.4%
Self-employment7.9%5.6%3.4%6.0%3.9%3.7%
Retired0.7%3.1%2.8%1.9%2.0%3.4%
Unemployed2.2%2.8%4.8%2.2%1.8%2.8%
Students5.2%3.6%3.4%4.2%6.3%7.4%
Other2.0%2.9%10.3%2.7%3.1%0.9%
B.C.ALBERTAPRAIRIESONTARIOQUEBECMARITIMES
VictoriaVancouverKelownaEdmontonLethbridgeRed DeerFort McmurrayMedicine HatReginaWinnipegThunder BayKingstonBarrieHamiltonLondonWindsorGreater SudburyGatineauLavalLongueuilMoncton
Median age32353331.5293533.5293029283032.53230342934333535
Average age34.735.936.534.932.236.636.933.93434.132.935.637.535.634.53733.337.137.43636.3
Average # of occupants22.6222.22.31.51.82.122.121.922.21.92.11.91.71.82.3
Has children9.3%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 children1.72.11.71.71.82.12.21.82.21.921.71.91.71.81.81.71.91.72.51.9
Has pets39.8%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 employment77.0%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 employment3.7%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-employment6.2%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%
Retired1.2%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%
Unemployed3.1%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%
Students5.0%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%
Other3.7%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
CanadaB.C.AlbertaPrairiesOntarioQuebecMaritimes
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 (HH) income$113,970$129,498$114,860$88,135$118,930$91,050$107,477
HH Rent-to-income28.1%28.2%25.8%27.7%28.9%28.7%28.2%
Personal (PP) income$72,950$80,728$74,816$59,513$74,539$62,856$66,179
PP Rent-to-income40.8%43.8%37.3%39.7%42.9%38.6%44.0%
HH Monthly debt payments$638$724$688$545$632$530$643
PP Monthly debt payments$776$899$835$728$763$675$746
HH Rent + debt-to-income33.8%33.7%32.1%33.3%34.4%34.8%33.7%
PP Rent + debt-to-income55.8%59.0%53.0%54.4%56.7%54.6%60.5%
GVAVictoria CMAKelowna CMACalgary CMAEdmonton CMAWinnipeg CMAGTAKW / CambridgeOttawa - GatineauMontreal CMAHalifax 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 (HH) income$138,327$169,393$121,155$120,844$113,150$79,100$138,285$110,183$115,696$91,082$121,492
HH Rent-to-income27.5%27.1%28.6%25.8%25.6%29.5%28.0%28.3%29.1%28.9%29.2%
Personal (PP) income$88,066$89,388$75,795$80,359$71,960$55,500$86,598$66,627$73,630$63,108$73,687
PP Rent-to-income45.0%40.6%43.3%37.9%36.9%35.9%45.0%40.6%41.1%38.9%48.7%
HH Monthly debt payments$740$596$750$689$695$469$722$602$644$503$785
PP Monthly debt payments$904$423$991$822$832$699$860$720$847$644$847
HH Rent + debt-to-income32.7%31.1%34.5%31.9%32.1%35.0%33.0%33.5%35.1%34.6%34.4%
PP Rent + debt-to-income59.1%50.1%61.0%52.4%53.7%48.0%58.9%53.9%57.8%54.3%67.3%
VancouverCalgaryWinnipegTorontoMontrealHalifax
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 (HH) income$154,162$120,566$78,607$149,607$89,349$117,926
HH Rent-to-income27.7%25.8%29.5%27.4%29.2%30.0%
Personal (PP) income$94,502$80,664$55,427$93,279$62,589$69,369
PP Rent-to-income44.1%37.8%35.6%43.8%38.3%49.0%
HH Monthly debt payments$618$676$462$655$459$831
PP Monthly debt payments$772$806$716$775$616$860
HH Rent + debt-to-income31.1%31.8%34.8%31.6%34.6%34.6%
PP Rent + debt-to-income53.9%52.1%48.1%56.1%52.7%64.4%
B.C.ALBERTAPRAIRIESONTARIOQUEBECMARITIMES
VictoriaNanaimoKelownaEdmontonLethbridgeRed DeerFort McmurrayMedicine HatReginaWinnipegThunder BayKingstonBarrieHamiltonLondonWindsorGreater SudburyGatineauLavalLongueuilMoncton
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 (HH) 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
HH Rent-to-income26.4%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%
Personal (PP) 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
PP Rent-to-income40.6%41.5%42.7%36.7%38.5%37.7%33.4%39.9%38.5%35.6%45.4%40.3%44.9%41.6%34.8%38.8%37.8%40.5%41.9%41.0%39.6%
HH 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
PP Monthly debt payments$448$688$963$776$727$996$1,210$471$808$716$650$625$615$558$733$643$541$910$723$589$572
HH Rent + debt-to-income30.7%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%
PP Rent + debt-to-income50.7%53.0%59.6%51.3%52.0%53.7%58.0%51.1%55.8%48.1%56.3%52.6%58.9%53.2%50.2%51.1%49.2%61.4%62.8%57.2%52.1%
MontrealCalgaryTorontoEdmontonOttawaHamiltonKelownaLondonVancouverMississaugaWindsorHalifaxKingstonBramptonKitchenerMedicine HatGatineauOshawaLavalLethbridgeNanaimoSurreyBrantfordLongueuilBarrieSt. CatharinesWest KelownaNiagara FallsEtobicokeVictoriaBellevilleWinnipegVaughanWellandSault Ste. MarieMarkhamReginaOakvilleDartmouthGreater SudburyBurlingtonCornwallNorth YorkBurnabyLeducRed DeerThunder BayRiverviewMonctonCambridgeCoquitlamSpruce GroveBrossardPentictonPeterboroughWaterlooQuinte WestRichmondGuelphFort McmurraySarniaDieppePickeringRichmond HillAirdrieMaple RidgeSt. AlbertBeaumontBedfordMilton
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 (HH) 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
HH Rent-to-income29.2%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%
Personal (PP) 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
PP Rent-to-income38.3%37.8%43.8%36.7%40.7%41.6%42.7%34.8%44.1%44.7%38.8%49.0%40.3%58.3%39.8%39.9%40.5%38.7%41.9%38.5%41.5%43.6%39.6%41.0%44.9%40.6%46.3%38.8%47.5%40.6%51.4%35.6%47.9%41.5%38.0%46.0%38.5%47.0%46.2%37.8%41.6%39.9%46.5%36.7%33.0%37.7%45.4%39.0%39.6%45.0%50.3%38.9%37.5%42.7%42.9%35.7%41.5%50.7%49.8%33.4%45.7%39.4%34.9%55.8%42.1%45.2%47.5%34.9%51.6%60.2%
HH 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
PP Monthly debt payments$616$806$775$776$854$558$963$733$772$706$643$860$625$886$761$471$910$675$723$727$688$1,034$710$589$615$567$1,100$439$544$448$591$716$919$525$345$830$808$2,109$822$541$1,771$405$1,378$1,411$1,997$996$650$416$572$913$808$898$958$1,084$698$328$794$826$533$1,210$805$514$1,378$1,102$648$1,265$933$730$586$322
HH Rent + debt-to-income34.6%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%
PP Rent + debt-to-income52.7%52.1%56.1%51.3%57.1%53.2%59.6%50.2%53.9%54.3%51.1%64.4%52.6%74.3%55.8%51.1%61.4%53.5%62.8%52.0%53.0%62.3%53.3%57.2%58.9%50.7%68.0%48.2%58.1%50.7%64.7%48.1%66.2%52.0%44.9%57.5%55.8%68.3%67.8%49.2%69.6%48.9%71.6%53.6%91.1%53.7%56.3%50.4%52.1%59.6%55.4%57.7%51.8%61.1%53.3%41.3%57.0%68.0%58.1%58.0%61.0%49.0%50.4%67.8%63.1%60.6%65.0%48.6%73.0%68.8%

*Household incomes are gross household incomes. Personal incomes are measured as single household applicants only (applicants with a co-signer are excluded, since their rent is financially backed by someone else). Excludes personal below full time provincial minimum wage. After tax = net of federal and provincial income tax, CPP/QPP and EI/QPIP (2026 rates).

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
CanadaB.C.AlbertaPrairiesOntarioQuebecMaritimes
Credit score701701696680708689699
HH Rent-to-income28.1%28.2%25.8%27.7%28.9%28.7%28.2%
HH Debt-to-income6.6%6.6%7.2%6.8%6.3%6.8%6.1%
Bankruptcies3.2%3.1%3.7%2.6%3.1%3.0%3.6%
Collections12.9%13.2%16.4%20.8%12.2%10.2%10.1%
Application declined15.5%26.2%13.9%16.3%15.4%16.1%6.4%
GVAVictoria CMAKelowna CMACalgary CMAEdmonton CMAWinnipeg CMAGTAKW / CambridgeOttawa - GatineauMontreal CMAHalifax CMA
Credit score715697693711687676733697722689708
HH Rent-to-income27.5%27.1%28.6%25.8%25.6%29.5%28.0%28.3%29.1%28.9%29.2%
HH Debt-to-income6.1%4.9%7.2%7.2%7.2%6.5%6.0%6.7%6.5%6.4%6.1%
Bankruptcies2.0%4.6%4.0%2.7%4.0%2.7%1.9%1.8%2.9%2.4%2.7%
Collections9.7%14.9%15.7%12.5%18.9%21.3%6.6%12.9%8.0%9.9%11.0%
Application declined11.7%24.1%34.3%12.7%12.6%26.2%10.1%20.8%11.4%15.2%6.2%
VancouverCalgaryWinnipegTorontoMontrealHalifax
Credit score740714674742691719
HH Rent-to-income27.7%25.8%29.5%27.4%29.2%30.0%
HH Debt-to-income4.3%7.1%6.4%4.9%5.8%5.2%
Bankruptcies0.7%2.4%2.1%1.0%1.8%1.4%
Collections5.7%11.8%21.7%5.0%9.1%7.7%
Application declined6.2%12.2%27.0%8.9%15.3%3.3%
B.C.ALBERTAPRAIRIESONTARIOQUEBECMARITIMES
VictoriaNanaimoKelownaEdmontonLethbridgeRed DeerFort McmurrayMedicine HatReginaWinnipegThunder BayKingstonBarrieHamiltonLondonWindsorGreater SudburyGatineauLavalLongueuilMoncton
Credit score693694693692681680664656684674709701695694674703693684680680681
HH Rent-to-income26.4%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%
HH Debt-to-income4.7%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%
Bankruptcies4.4%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%
Collections16.2%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 declined25.9%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%
MontrealCalgaryTorontoEdmontonOttawaHamiltonKelownaLondonVancouverMississaugaWindsorHalifaxKingstonBramptonKitchenerMedicine HatGatineauOshawaLavalLethbridgeNanaimoSurreyBrantfordLongueuilBarrieSt. CatharinesWest KelownaNiagara FallsEtobicokeVictoriaBellevilleWinnipegVaughanWellandSault Ste. MarieMarkhamReginaOakvilleDartmouthGreater SudburyBurlingtonCornwallNorth YorkBurnabyLeducRed DeerThunder BayRiverviewMonctonCambridgeCoquitlamSpruce GroveBrossardPentictonPeterboroughWaterlooQuinte WestRichmondGuelphFort McmurraySarniaDieppePickeringRichmond HillAirdrieMaple RidgeSt. AlbertBeaumontBedfordMilton
Credit score691714742692730694693674740723703719701714701656684683680681694679657680695695680655730693686674727642613746684748690693726673747724645680709713681661705658689698691724642742729664636708715746643721694644701712
HH Rent-to-income29.2%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%
HH Debt-to-income5.8%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%
Bankruptcies1.8%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%
Collections9.1%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 declined15.3%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 is also reshaping how Canadians rent. 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. In markets such as Nanaimo and Halifax, larger households are increasingly driven by unrelated adults sharing housing rather than families, reflecting the growing importance of shared income in maintaining affordability.

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.

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Shared income is becoming essential to affordability

Household affordability masks the financial pressure facing individual renters. Across every market analyzed, single renters spend at least 42% of their after-tax income on rent, showing that dual-income households, roommates, and shared living arrangements are increasingly supporting rental affordability.

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Larger households increasingly reflect affordability, not family growth

Nanaimo and Halifax have the largest average household sizes in their respective groups, despite relatively few households with children. Much of that additional occupancy comes from unrelated adults sharing housing, suggesting larger households increasingly reflect financial necessity rather than family formation.

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.

Personal after tax Affordability analysis

Household affordability hides the pressure facing individual renters

Household income suggests affordability is improving, but personal after-tax income tells a different story. Across every market analyzed, single renters spend at least 42% of their take-home pay on rent, with several cities exceeding 50%. This gap highlights how much modern rental affordability now depends on dual-income households, roommates, or other shared income arrangements rather than individual earnings.

Monthly Rent, Remaining Income, and Affordability for Single Income Households (After Taxes)

Single household applicants only (applicants with a co-signer are excluded, since their rent is financially backed by someone else). Excludes personal below full time provincial minimum wage. After tax = net of federal and provincial income tax, CPP/QPP and EI/QPIP (2026 rates).

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.

Rent as a percentage of gross income, household vs personal

How to read this chart: Each city shows rent as a share of gross 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 by Major City
Average Monthly Rent by Greater Metro

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 While Legacy Debt Persists

Canadian renters are becoming more financially resilient. Gross 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
Renter Affordability
CanadaB.C.AlbertaPrairiesOntarioQuebecMaritimes
Credit Score701701696680708689699
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-income28.1%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%
Collections12.9%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%
GVAVictoria CMAKelowna CMACalgary CMAEdmonton CMAWinnipeg CMAGTAKW / CambridgeOttawa - GatineauMontreal CMAHalifax CMA
Credit Score715697693711687676733697722689708
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-income27.5%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%
Collections9.7%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%
VancouverCalgaryWinnipegTorontoMontrealHalifax
Credit Score740714674742691719
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-income27.7%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%
Collections5.7%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.ALBERTAPRAIRIESONTARIOQUEBECMARITIMES
VictoriaNanaimoKelownaEdmontonLethbridgeRed DeerFort McmurrayMedicine HatReginaWinnipegThunder BayKingstonBarrieHamiltonLondonWindsorGreater SudburyGatineauLavalLongueuilMoncton
Credit Score693694693692681680664656684674709701695694674703693684680680681
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-income26.4%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%
Collections16.2%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%
MontrealCalgaryTorontoEdmontonOttawaHamiltonKelownaLondonVancouverMississaugaWindsorHalifaxKingstonBramptonKitchenerMedicine HatGatineauOshawaLavalLethbridgeNanaimoSurreyBrantfordLongueuilBarrieSt. CatharinesWest KelownaNiagara FallsEtobicokeVictoriaBellevilleWinnipegVaughanWellandSault Ste. MarieMarkhamReginaOakvilleDartmouthGreater SudburyBurlingtonCornwallNorth YorkBurnabyLeducRed DeerThunder BayRiverviewMonctonCambridgeCoquitlamSpruce GroveBrossardPentictonPeterboroughWaterlooQuinte WestRichmondGuelphFort McmurraySarniaDieppePickeringRichmond HillAirdrieMaple RidgeSt. AlbertBeaumontBedfordMilton
Credit Score691714742692730694693674740723703719701714701656684683680681694679657680695695680655730693686674727642613746684748690693726673747724645680709713681661705658689698691724642742729664636708715746643721694644701712
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-income29.2%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%
Collections9.1%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
Average credit score by province
B.C
701
Alberta
696
Prairies
680
Ontario
708
Quebec
689
Maritimes
699

Great: 700-759

Good: 640-699

ProvinceAvg credit score
B.C701
Alberta696
Prairies680
Ontario708
Quebec689
Maritimes699
National Credit Score Breakdown
RankScore rangeSegment size
Low360-55911.8%
Fair560-63912.7%
Good640-69919.0%
Great700-75924.5%
Excellent760+32.0%
Average Credit Score by City
Major cityScoreSecondary cityScore
Vancouver740Kelowna693
Calgary714Edmonton692
Winnipeg674Regina684
Toronto742Thunder Bay709
Montreal691Gatineau684
Halifax719Moncton681
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.

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.

Market Risk at a Glance

Winnipeg, MB
error High Risk

Collections

21.7%

Bankruptcies

2.1%

Credit Score

674

Medecine Hat, AB
error High Risk

Collections

42.1%

Bankruptcies

6.1%

Credit Score

656

London, ON
error High Risk

Collections

20.0%

Bankruptcies

4.8%

Credit Score

674

Kingston, ON
warning Medium Risk

Collections

15.1%

Bankruptcies

5.4%

Credit Score

701

Victoria, BC
warning Medium Risk

Collections

16.2%

Bankruptcies

4.4%

Credit Score

693

Edmonton, AB
warning Medium Risk

Collections

18.2%

Bankruptcies

3.5%

Credit Score

692

Toronto, ON
verified Low Risk

Collections

5.0%

Bankruptcies

1.0%

Credit Score

742

Vancouver, BC
verified Low Risk

Collections

5.7%

Bankruptcies

0.7%

Credit Score

740

Halifax, NS
verified Low Risk

Collections

7.7%

Bankruptcies

1.4%

Credit Score

719

Digging Deeper: Financial Risk by Region

Collection Percentage by Province
Bankruptcy Percentage by Province
Collection Percentage by Greater Metro Area
Bankruptcy Percentage by Greater Metro Area

Key Takeaways

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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.

For media inquiries please reach out to: rc@categorycomms.com. View our previous report from 2025 here.