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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 throughout Q3 2025.

Applicant Overview

Median Age

32

Average # of occupants

2

Households with pets

27%

Credit Score and Affordability Overview

Average monthly rent

$2,063

Monthly debt + rent payments

$2,708

Average personal income

$67,536

Average household
income

$109,056

Employment Breakdown

Full-time

72.5%

Part-time

6.4%

Student

5.2%

Self-employed

4.7%

Other

4.3%

Unemployed

3.6%

Retired/Pension

3.4%

Table of Contents

Top Line Insights

  • Shared income sources are essential for rental affordability: The average renter household earns $109K–$125K, roughly 35% more than the average personal income of $68K–$78K. This gap highlights how one-third of household income often comes from a second earner, making dual incomes, roommates, or co-signers the new reality of rental affordability.
  • The renter demographic is aging: Renting is no longer a short-term stage of life. The median renter is now between 31 and 33 years old, and about 12% of households have children. This signals that many renters are settling into long-term rental housing rather than transitioning to ownership.
  • Affordability doesn’t equal financial reliability: Provinces with the lowest rents, such as those in the Prairies, report the highest rates of delinquency and bankruptcy. In contrast, expensive markets like B.C. and Ontario attract more financially stable tenants, averaging credit scores above 700 and lower collection rates around 10%. While lower-cost regions may seem attractive for investors, they often come with higher financial risk.
  • Risk tolerance shifts with market pressure: Landlords in high-rent regions such as B.C. and Ontario approve about three in four applicants, compared to roughly four in five in Alberta. Stricter screening reflects tighter markets and higher stakes, while more affordable regions allow for greater flexibility in tenant selection.

Who is the average Canadian renter?

Canada’s renters have a median age of 32, 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.​

CANADA

CANADA

B.C

ALBERTA

PRAIRIES

ONTARIO

QUEBEC

MARITIMES

Median age

32.0

33.0 

32.0

33.0 

31.0 

31.0 

32.0 

Average age

35

35.6

34.5

34.9

35.4

33.8

35.1

Average # of occupants

2.0 

2.0 

2.0

2.4 

2.0 

1.7 

0.3 

Has children (%)

11.7% 

6.0% 

11.7%

21.0% 

6.1% 

4.1% 

11.3% 

Average # of children

1.8 

1.7 

1.8

2.0 

1.7 

1.6 

1.9 

Has pets (%)

27.6%

30.9% 

33.0% 

28.0% 

26.2%

17.5% 

2.78% 

Full-time employment (%) 

72.5%

73.4% 

73.3% 

71.2% 

70.8%

78.5% 

74.4% 

Part-time employment (%) 

6.4% 

5.8% 

5.5% 

6.1% 

7.0% 

6.0% 

5.5% 

Self-employment (%)

4.7%

6.8% 

4.4% 

2.3% 

4.6% 

4.2% 

4.1% 

Retired (%)

3.4% 

3.4% 

2.7% 

3.1% 

4.1% 

1.8%

2.7%

Unemployed (%) 

3.6% 

2.7% 

3.8% 

6.5% 

3.8%

1.8% 

4.2% 

Students (%)

5.1%

4.2%

5.3% 

5.0% 

5.5%

4.3% 

5.4% 

Other (%)

4.3%

3.8%

4.9%

5.8%

4.3%

3.3%

3.8%

CANADA

VANCOUVER

CALGARY

WINNIPEG

TORONTO

MONTREAL

HALIFAX

Median age

33.0 

34.0

34.1

34

32.6

32.8

Average age

33.1

34.0

34.1

34.0

32.6

32.8

Average # of occupants

1.9 

2.0

2.4

1.8

1.6

2.2

Has children (%)

6.1%

11.7%

21.4%

6.1%

4.1%

11.3%

Average # of children

1.6

1.7

2.0

1.4

1.6

1.9

Has pets (%)

22.1%

28.2%

24.4%

15.2%

12.7%

17.6%

Full-time employment (%) 

72.8%

76.3%

70.3%

73.7%

79.0%

75.9%

Part-time employment (%) 

7.0%

5.4%

6.6%

5.4%

6.8%

6.2%

Self-employment (%)

6.5%

5.1%

1.7%

5.9%

3.7%

5.1%

Retired (%)

1.3%

2.0%

2.6%

2.4%

1.5%

1.5%

Unemployed (%) 

3.4%

3.2%

7.4%

3.2%

1.5%

3.3%

Students (%) 

7.8%

4.7%

3.5%

7.1%

5.7%

6.9%

Other (%) 

1.0%

3.4%

7.9%

2.3%

1.8%

1.1%

What can a Canadian renter afford based on income?

The average Canadian renter earns a personal income of $67K and a household income of $109K, yet faces rising costs. Rent alone consumes about one-third of earnings and total debt payments pushing overall financial strain near 40% of income.

CANADA

CANADA

B.C

ALBERTA

PRAIRIES

ONTARIO

QUEBEC

MARITIMES

Rent price ($)

$2,063 

$2,490 

$1,869 

$1,683 

$2,159 

$1,623

$1,890

Household income ($)

$109,057

$125,516 

$108,248 

$91,058 

$110,800

$89,522

$98,765

Personal income ($)

$67,537 

$78,033

$68,057 

$52,705

$67,410 

$59,895

$61,672

Rent-to-income (%)

32.6% 

33.9%

29.6%

30.2%

33.6%

32.9% 

32.6%

Monthly debt payments ($)

$645 

$678 

$689

$529

$645

$579

$544

Rent + debt-to-income (%)

38.6% 

40.0%

36.5%

35.3%

39.2% 

39.4% 

38.5%

CANADA

VANCOUVER

CALGARY

WINNIPEG

TORONTO

MONTREAL

HALIFAX

Rent price ($)

$2,891

$2,028

$1,713

$2,581

$1,605 

$2,145

Household income ($)

$146,194

$116,390

$107,703

$142,346

$89,748

$112,449

Personal income ($)

$92,721

$77,224

$63,526

$94,370

$61,506

$71,539

Rent-to-income (%)

35.6%

27.7%

26.0%

30.6%

32.3%

34.2%

Monthly debt payments ($)

$650

$681

$526

$693

$456

$413

Rent + debt-to-income (%)

41.6%

33.4%

31.0%

34.2%

37.3%

37.4%

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.

CANADA

CANADA

B.C

ALBERTA

PRAIRIES

ONTARIO

QUEBEC

MARITIMES

Credit score

693 

702

682

653

701

683

677

Rent-to-income (%)

32.6%

33.9%

29.6%

30.2%

33.6%

32.9%

32.6% 

Debt-to-income (%)

7.9%

7.6% 

9.0%

7.1%

7.6%

8.3%

6.7%

Bankruptcies (%)

3.3%

2.5%

4.2%

5.2%

2.9%

2.8%

4.9%

Collections (%)

11.6%

10.4%

15.4%

21.9%

10.4%

8.8%

11.5%

Application declined (%)

18.0%

25.2%

14.7%

18.3%

17.7%

21.7%

16.7%

CANADA

VANCOUVER

CALGARY

WINNIPEG

TORONTO

MONTREAL

HALIFAX

Credit score

731

703 

655

735

688

705

Rent-to-income (%)

35.6%

27.7%

26.0% 

30.6%

32.3%

34.2%

Debt-to-income (%)

7.2%

7.8%

6.7%

5.7%

6.4%

4.1%

Bankruptcies (%)

2.1%

2.9%

3.9%

1.1%

2.1%

1.7%

Collections (%)

7.3%

10.1%

18.9%

4.3%

7.7%

6.7%

Application declined (%)

13.8%

9.5%

31.3%

13.5%

14.4%

5.0%

Urban Affordability Remains Tight, Especially for Families

Higher rent cost areas (Vancouver and Toronto) are less affordable, have fewer families as renters, and are young professional hubs. Lower rent cost areas (Winnipeg, Maritimes, Prairies) are more affordable and family-friendly. However, across the board renters are left with less than half of their pre-tax gross income to pay for bills, taxes, and cost of living, outside of their rent. This makes saving earnings difficult month to month.   Renter demographics are aging. Renters are staying longer in their rentals and building families in them, further illuminating the unaffordable nature of home ownership across the country.
Key Takeaways

Winnipeg is Family Renting Capital

In Winnipeg, 21.4% of renters have children, and the city’s renters have the oldest median age in Canada (34.1). This indicates that Winnipeg offers greater affordability for renters seeking to start families.

Traditional Renting and Family Planning Timeline Model Changing

The traditional model of "rent in 20s, buy before kids" is breaking down - renters are now in their mid-30s, and whether they have families depends more on regional affordability than age.

Rent to Income is Exceeding 30% Affordability Threshold

Rents are exceeding 30% of gross income across most of the country. Currently, Halifax and Montreal tenants face the most affordability strain, seeing lower incomes yet higher rent prices on average. Toronto and Vancouver appear less affordable overall, yet renters have higher incomes on average, which offsets higher rent costs.

Cost of Rent Analysis

Rents peak in metropolitan cities

Vancouver and Toronto continue to lead as Canada’s most expensive rental markets, while Quebec and the Prairies remain the last bastions of relative affordability.

Average Monthly Rents

Household Demographics Analysis

Renters are aging, some with children

Higher rents tend to coincide with older renter populations, while provinces with lower rents (like the Prairies and Quebec) see a higher share of households with children.

By Province
By City

How to read this chart: Bars show average rent by age group, with darker shades for older renters. The purple line represents the share of households with children, showing where family renters are most concentrated.

Renter Affordability Analysis

Monthly income, rent to income, and expenses

Despite regional income differences, renters across Canada face similar affordability pressures. Rent consumes about one-third of household income, and when combined with debt, many households are left with limited disposable income.

By Province
By City

How to read this chart: The bar chart shows monthly expenses of rent, debt, and a renter’s income after these expenses are subtracted. The top line number shows the monthly gross household income before taxes. The purple line tracks the rent-to-income ratio, highlighting where housing costs take up more of renters’ pay.

Rent vs Income Analysis

Rent affordability for single vs dual income households

Affordability improves in dual-income households: rent’s share drops by nearly eight points when measured against household rather than personal income, allowing these renters to better absorb high rental costs.

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.

Renter Income Analysis

High rents, not low incomes drive affordability gaps

While over half (53%) of renters earn under $60,000 annually, an increasing share fall into higher income brackets — with many earning well above $100,000. This shift points to a more affluent renter base overall, even as rent continues to consume roughly one-third of household income.

National Average Personal Income

$67,536

National Average Household Income

$109,056

National Average Personal Income Breakdown

  • Under $40,000

28.4%

  • $40,000-$59,999

25.1%

  • $60,000-$79,999

19.2%

  • $80,000-$99,999

10.7%

  • $100,000-$124,999

8.1%

  • $125,000-$149,999

3.1%

  • $150,000+

5.5%

Average Rent-to-Income (RTI) by Province

Province

AVG RENT

MONTHLY INCOME

RTI

British Columbia

$2,490

$10,460

33.9%

Alberta

$1,869

$9,021

29.6%

Prairies

$1,683

$7,588

30.2%

Ontario

$2,159

$9,233

33.6%

Quebec

$1,623

$7,460

32.9%

Maritimes

$1,890

$8,230

32.6%

Average Rent-to-Income (RTI) by City

Province

AVG RENT

MONTHLY INCOME

RTI

Vancouver

$2,891

$12,183

35.6%

Calgary

$2,028

$9,699

27.7% 

Winnipeg

$1,713 

$8,975

26.0%

Toronto

$2,581

$11,862 

30.6% 

Montreal

$1,605

$7,479 

32.3% 

Halifax

$2,145

$9,371

34.2%

Metropolitan Renters Have Less Financial Instability

Metropolitan renters lead on credit strength

On average, renters fall in the good credit range, with a large share in great to excellent. Year over year, we are seeing credit strength improve over time across the provinces, while this trend is reversed in larger cities. Metropolitan renters tend to have better credit suggesting more financially stable renters, compared to rural counterparts. Selecting tenants with proven credit discipline, requiring co-signers, or rent guarantees for weaker profiles can reduce delinquency risk.

National Average Credit Score

693.4

Average Credit Score By Province

  • Good: 640-699
  • Great: 700-759

National Credit Score Breakdown

RANK

CREDIT SCORE RANGE

SEGMENT SIZE

Low

360-559

12.3%

Fair

560-639

14.2%

Good

640-699

20.5%

Great

700-759

24.6%

Excellent

760+

28.4%

Average Credit Score by City

city

CREDIT SCORe

yoy

Vancouver

731.1

Calgary

702.8

Winnipeg

654.8

Toronto

732.7

Montreal

688.2

Halifax

705.4

Key Takeaways

Stronger, More Reliable Renters Nationwide

Canada has a favourable rental environment for property owners. Stronger tenant credit health means fewer payment issues, better tenant quality, less turnover, greater retention, and greater financial stability across rental portfolios.

Tenants Outside of Big Cities are More Risky, Suggesting Stringent Screening

Credit disparities by region suggest landlords in Winnipeg or the Prairies should tighten screening, personalize terms, and maintain financial buffers to offset higher tenant-risk variability.

Toronto’s Credit Scores Are Declining Sharply (2.9% Year Over Year)

This could indicate growing financial strain among residents despite high income levels, possibly tied to increased debt loads or cost-of-living pressures. If this trend continues, it may signal emerging credit risk in an otherwise financially stable market.

Defaults and delinquencies are higher in rural areas

Although metropolitan cities are more expensive for tenants to afford, we see better quality tenants cluster within them across risk indicators such as collections rates, bankruptcy rates, and average credit scores. Property investors looking to expand their portfolios of income properties should plan strategically. Property prices may be lower in more rural areas, but tenant financial stability and risk increases in those areas as well.

Tenant risk heatmap: Collections vs. bankruptcies by city

Winnipeg

Collections

18.9%

Bankruptcies

3.9%

Credit score

655

Calgary

Collections

10.1%

Bankruptcies

2.9%

Credit score

703

Montreal

Collections

7.7%

Bankruptcies

2.1%

Credit score

688

Vancouver

Collections

7.3%

Bankruptcies

2.1%

Credit score

731

Halifax

Collections

6.7%

Bankruptcies

1.7%

Credit score

705

Toronto

Collections

4.3%

Bankruptcies

1.1%

Credit score

735

Key Takeaways

Toronto and Halifax Show Most Financially Stable Renters

With the lowest delinquency and bankruptcy rates, and maintaining strong credit performance, these cities represent lower payment risk and higher tenant reliability, making them strong rental market opportunities for landlords.

Calgary, Vancouver, Montreal Show Moderate Risk

Calgary’s rates indicate higher-than-average debt strain despite relatively solid credit scores, while Montreal’s slightly lower scores and moderate collections suggest income-to-debt imbalances among renters.

Winnipeg Leads with Highest Risk Market for Landlords

Nearly 1 in 5 tenants have accounts in collections and the highest bankruptcy rate among major cities. These trends, coupled with the city’s lower average credit score, suggest significant financial stress and a higher likelihood of missed or late rent payments.

Bankruptcy Percentage by Province

Bankruptcy Percentage by City

Collection Percentage by Province

Collection Percentage by City

  • High risk
  • Medium risk
  • Low risk

For media inquiries please reach out to: rc@categorycomms.com

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 Q3 2025.

Applicant Overview

Median age

32

Average # of occupants

2

Households with pets

27%

Households with children

20%

Credit Score and Affordability Overview

Average monthly rent

$2,063

Monthly debt + rent payments

$2,708

Average personal income

$67,536

Average household income

$109,056

Employment Breakdown

EMPLOYMENT TYPE

SEGMENT SIZE

Full-time

72.5%

Part-time

6.4%

Student

5.2%

Self-employed

4.7%

Other

4.3%

Unemployed

3.6%

Retired/Pension

3.4%

Table of Contents

Top Line Insights

  • Shared income sources are essential for rental affordability: The average renter household earns $109K–$125K, roughly 35% more than the average personal income of $68K–$78K. This gap highlights how one-third of household income often comes from a second earner, making dual incomes, roommates, or co-signers the new reality of rental affordability.
  • The renter demographic is aging: Renting is no longer a short-term stage of life. The median renter is now between 31 and 33 years old, and about 20% of households have children. This signals that many renters are settling into long-term rental housing rather than transitioning to ownership.
  • Affordability doesn’t equal financial reliability: Provinces with the lowest rents, such as those in the Prairies, report the highest rates of delinquency and bankruptcy. In contrast, expensive markets like B.C. and Ontario attract more financially stable tenants, averaging credit scores above 700 and lower collection rates around 10%. While lower-cost regions may seem attractive for investors, they often come with higher financial risk.
  • Risk tolerance shifts with market pressure: Landlords in high-rent regions such as B.C. and Ontario approve about three in four applicants, compared to roughly four in five in Alberta. Stricter screening reflects tighter markets and higher stakes, while more affordable regions allow for greater flexibility in tenant selection.

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.​

A descriptive title for the image
A descriptive title for the image

What can a Canadian renter afford based on income?

The average Canadian renter earns a personal income of $67K and a household income of $109K, yet faces rising costs. Rent alone consumes about one-third of earnings and total debt payments pushing overall financial strain near 40% of income.

A descriptive title for the image
A descriptive title for the image

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.

A descriptive title for the image
A descriptive title for the image

Urban Affordability Remains Tight, Especially for Families

Higher rent cost areas (Vancouver and Toronto) are less affordable, have fewer families as renters, and are young professional hubs. Lower rent cost areas (Winnipeg, Maritimes, Prairies) are more affordable and family-friendly. However, across the board renters are left with less than half of their pre-tax gross income to pay for bills, taxes, and cost of living, outside of their rent. This makes saving earnings difficult month to month. Renter demographics are aging. Renters are staying longer in their rentals and building families in them, further illuminating the unaffordable nature of home ownership across the country.

Key Takeaways

Winnipeg is Family Renting Capital

In Winnipeg, 21.4% of renters have children, and the city’s renters have the oldest median age in Canada (34.1). This indicates that Winnipeg offers greater affordability for renters seeking to start families.

Traditional Renting and Family Planning Timeline Model Changing

The traditional model of "rent in 20s, buy before kids" is breaking down - renters are now in their mid-30s, and whether they have families depends more on regional affordability than age.

Rent to Income is Exceeding 30% Affordability Threshold

Rents are exceeding 30% of gross income across most of the country. Currently, Halifax and Montreal tenants face the most affordability strain, seeing lower incomes yet higher rent prices on average. Toronto and Vancouver appear less affordable overall, yet renters have higher incomes on average, which offsets higher rent costs.

Cost of Rent Analysis

Rents peak in metropolitan cities

Vancouver and Toronto continue to lead as Canada’s most expensive rental markets, while Quebec and the Prairies remain the last bastions of relative affordability.

Average Monthly Rents

Household Demographics Analysis

Renters are aging, some with children

Higher rents tend to coincide with older renter populations, while provinces with lower rents (like the Prairies and Quebec) see a higher share of households with children.

By Province
By City

How to read this chart: The bar chart shows monthly expenses of rent, debt, and a renter’s income after these expenses are subtracted. The top line number shows the monthly gross household income before taxes. The purple line tracks the rent-to-income ratio, highlighting where housing costs take up more of renters’ pay.

Renter Affordability Analysis

Monthly income, rent to income, and expenses

Despite regional income differences, renters across Canada face similar affordability pressures. Rent consumes about one-third of household income, and when combined with debt, many households are left with limited disposable income.

By Province
By City

How to read this chart: Bars show average rent by age group, with darker shades for older renters. The purple line represents the share of households with children, showing where family renters are most concentrated.

Rent vs Income Analysis

Rent affordability for single vs dual income households

Affordability improves in dual-income households: rent’s share drops by nearly eight points when measured against household rather than personal income, allowing these renters to better absorb high rental costs.

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.

Renter Income Analysis

High rents, not low incomes drive affordability gaps

While over half (53%) of renters earn under $60,000 annually, an increasing share fall into higher income brackets — with many earning well above $100,000. This shift points to a more affluent renter base overall, even as rent continues to consume roughly one-third of household income.

National Average Personal Income

$67,536

National Average Household Income

$109,056

National Average Personal Income Breakdown

PERSONAL INCOME
RANGE

SEGMENT SIZE

  • Under $40,000

28.4%

  • $40,000-$59,999

25.1%

  • $60,000-$79,999

19.2%

  • $80,000-$99,999

10.7%

  • $100,000-$124,999

8.1%

  • $125,000-$149,999

3.1%

  • $150,000+

5.5%

Average Rent-to-Income (RTI) by Province

Province

AVG
RENT

MONTHLY INCOME

RTI

B.C

$2,490

$10,460

33.9%

Alberta

$1,869

$9,021

29.6%

Prairies

$1,683

$7,588

30.2%

Ontario

$2,159

$9,233

33.6%

Quebec

$1,623

$7,460

32.9%

Maritimes

$1,890

$8,230

32.6%

Average Rent-to-Income (RTI) by City

CITY

AVG
RENT

MONTHLY INCOME

RTI

Vancouver

$2,891

$12,183

35.6%

Calgary

$2,028

$9,699

27.7% 

Winnipeg

$1,713 

$8,975

26.0%

Toronto

$2,581

$11,862 

30.6% 

Montreal

$1,605

$7,479 

32.3% 

Halifax

$2,145

$9,371

34.2%

Metropolitan Renters Have Less Financial Instability

Metropolitan renters lead on credit strength

On average, renters fall in the good credit range, with a large share in great to excellent. Year over year, we are seeing credit strength improve over time across the provinces, while this trend is reversed in larger cities. Metropolitan renters tend to have better credit suggesting more financially stable renters, compared to rural counterparts. Selecting tenants with proven credit discipline, requiring co-signers, or rent guarantees for weaker profiles can reduce delinquency risk.

National Average Credit Score

693.4

Average Credit Score By Province

National Credit Score Breakdown

RANK

CREDIT SCORE RANGE

SEGMENT
SIZE

Low

360-559

12.3%

Fair

560-639

14.2%

Good

640-699

20.5%

Great

700-759

24.6%

Excellent

760+

28.4%

Average Credit Score by City

city

CREDIT SCORe

yoy

Vancouver

731.1

Calgary

702.8

Winnipeg

654.8

Toronto

732.7

Montreal

688.2

Halifax

705.4

Key Takeaways

Stronger, More Reliable Renters Nationwide

Canada has a favourable rental environment for property owners. Stronger tenant credit health means fewer payment issues, better tenant quality, less turnover, greater retention, and greater financial stability across rental portfolios.

Tenants Outside of Big Cities are More Risky, Suggesting Stringent Screening

Credit disparities by region suggest landlords in Winnipeg or the Prairies should tighten screening, personalize terms, and maintain financial buffers to offset higher tenant-risk variability.

Toronto’s Credit Scores Are Declining Sharply (2.9% Year Over Year)

This could indicate growing financial strain among residents despite high income levels, possibly tied to increased debt loads or cost-of-living pressures. If this trend continues, it may signal emerging credit risk in an otherwise financially stable market.

Defaults and delinquencies are higher in rural areas

Although metropolitan cities are more expensive for tenants to afford, we see better quality tenants cluster within them across risk indicators such as collections rates, bankruptcy rates, and average credit scores. Property investors looking to expand their portfolios of income properties should plan strategically. Property prices may be lower in more rural areas, but tenant financial stability and risk increases in those areas as well.

Tenant risk heatmap: Collections vs. bankruptcies by city

Winnipeg

Collections

18.9%

Bankruptcies

3.9%

Credit score

655

Calgary

Collections

10.1%

Bankruptcies

2.9%

Credit score

703

Montreal

Collections

7.7%

Bankruptcies

2.1%

Credit score

688

Vancouver

Collections

7.3%

Bankruptcies

2.1%

Credit score

731

Halifax

Collections

6.7%

Bankruptcies

1.7%

Credit score

705

Toronto

Collections

4.3%

Bankruptcies

1.1%

Credit score

735

Key Takeaways

Toronto and Halifax Show Most Financially Stable Renters

With the lowest delinquency and bankruptcy rates, and maintaining strong credit performance, these cities represent lower payment risk and higher tenant reliability, making them strong rental market opportunities for landlords.

Calgary, Vancouver, Montreal Show Moderate Risk

Calgary’s rates indicate higher-than-average debt strain despite relatively solid credit scores, while Montreal’s slightly lower scores and moderate collections suggest income-to-debt imbalances among renters.

Winnipeg Leads with Highest Risk Market for Landlords

Nearly 1 in 5 tenants have accounts in collections and the highest bankruptcy rate among major cities. These trends, coupled with the city’s lower average credit score, suggest significant financial stress and a higher likelihood of missed or late rent payments.

Bankruptcy Percentage by Province

Bankruptcy Percentage by City

Collection Percentage by Province

Collection Percentage by City

  • High risk
  • Medium risk
  • Low risk

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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 Q3 2025.

Applicant Overview

Median age

32

Average # of occupants

2

Households with pets

27%

Households with children

20%

Credit Score and Affordability Overview

Average monthly rent

$2,063

Monthly debt + rent payments

$2,708

Part-time

6.4%

Average personal income

$67,536

Average household income

$109,056

Employment Breakdown

EMPLOYMENT
TYPE

SEGMENT
SIZE

Full-time

72.5%

Part-time

6.4%

Student

5.2%

Full-time

72.5%

Self-employed

4.7%

Other

4.3%

Unemployed

3.6%

Retired/Pension

3.4%

Table of Contents

Top Line Insights

  • Shared income sources are essential for rental affordability: The average renter household earns $109K–$125K, roughly 35% more than the average personal income of $68K–$78K. This gap highlights how one-third of household income often comes from a second earner, making dual incomes, roommates, or co-signers the new reality of rental affordability.
  • The renter demographic is aging: Renting is no longer a short-term stage of life. The median renter is now between 31 and 33 years old, and about 12% of households have children. This signals that many renters are settling into long-term rental housing rather than transitioning to ownership.
  • Affordability doesn’t equal financial reliability: Provinces with the lowest rents, such as those in the Prairies, report the highest rates of delinquency and bankruptcy. In contrast, expensive markets like B.C. and Ontario attract more financially stable tenants, averaging credit scores above 700 and lower collection rates around 10%. While lower-cost regions may seem attractive for investors, they often come with higher financial risk.
  • Risk tolerance shifts with market pressure: Landlords in high-rent regions such as B.C. and Ontario approve about three in four applicants, compared to roughly four in five in Alberta. Stricter screening reflects tighter markets and higher stakes, while more affordable regions allow for greater flexibility in tenant selection.

Who is the average Canadian renter?

Canada’s renters have a median age of 32, 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.

What can a Canadian renter afford based on income?

The average Canadian renter earns a personal income of $67K and a household income of $109K, yet faces rising costs. Rent alone consumes about one-third of earnings and total debt payments pushing overall financial strain near 40% of income.

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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.

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Urban Affordability Remains Tight, Especially for Families

Higher rent cost areas (Vancouver and Toronto) are less affordable, have fewer families as renters, and are young professional hubs. Lower rent cost areas (Winnipeg, Maritimes, Prairies) are more affordable and family-friendly. However, across the board renters are left with less than half of their pre-tax gross income to pay for bills, taxes, and cost of living, outside of their rent. This makes saving earnings difficult month to month. Renter demographics are aging. Renters are staying longer in their rentals and building families in them, further illuminating the unaffordable nature of home ownership across the country.

Key Takeaways

Winnipeg is Family Renting Capital

In Winnipeg, 21.4% of renters have children, and the city’s renters have the oldest median age in Canada (34.1). This indicates that Winnipeg offers greater affordability for renters seeking to start families.

Traditional Renting and Family Planning Timeline Model Changing

The traditional model of "rent in 20s, buy before kids" is breaking down - renters are now in their mid-30s, and whether they have families depends more on regional affordability than age.

Rent to Income is Exceeding 30% Affordability Threshold

Rents are exceeding 30% of gross income across most of the country. Currently, Halifax and Montreal tenants face the most affordability strain, seeing lower incomes yet higher rent prices on average. Toronto and Vancouver appear less affordable overall, yet renters have higher incomes on average, which offsets higher rent costs.

Cost of Rent Analysis

Rents peak in metropolitan cities

Vancouver and Toronto continue to lead as Canada’s most expensive rental markets, while Quebec and the Prairies remain the last bastions of relative affordability.

Average Monthly Rents

Household Demographics Analysis

Renters are aging, some with children

Higher rents tend to coincide with older renter populations, while provinces with lower rents (like the Prairies and Quebec) see a higher share of households with children.

By Province
By City

How to read this chart: Bars show average rent by age group, with darker shades for older renters. The purple line represents the share of households with children, showing where family renters are most concentrated.

Renter Affordability Analysis

Monthly income, rent to income, and expenses

Despite regional income differences, renters across Canada face similar affordability pressures. Rent consumes about one-third of household income, and when combined with debt, many households are left with limited disposable income.

By Province
By City

How to read this chart: The bar chart shows monthly expenses of rent, debt, and a renter’s income after these expenses are subtracted. The top line number shows the monthly gross household income before taxes. The purple line tracks the rent-to-income ratio, highlighting where housing costs take up more of renters’ pay.

Rent vs Income Analysis

Rent affordability for single vs dual income households

Affordability improves in dual-income households: rent’s share drops by nearly eight points when measured against household rather than personal income, allowing these renters to better absorb high rental costs.

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.

Renter Income Analysis

High rents, not low incomes drive affordability gaps

While over half (53%) of renters earn under $60,000 annually, an increasing share fall into higher income brackets — with many earning well above $100,000. This shift points to a more affluent renter base overall, even as rent continues to consume roughly one-third of household income.

National Average Personal Income

$67,536

National Average Household Income

$109,056

National Average Personal Income Breakdown

PERSONAL INCOME
RANGE

SEGMENT SIZE

  • Under $40,000

28.4%

  • $40,000-$59,999

25.1%

  • $60,000-$79,999

19.2%

  • $80,000-$99,999

10.7%

  • $100,000-$124,999

8.1%

  • $125,000-$149,999

3.1%

  • $150,000+

5.5%

Average Rent-to-Income (RTI) by Province

Province

AVG
RENT

MONTHLY INCOME

RTI

B.C

$2,490

$10,460

33.9%

Alberta

$1,869

$9,021

29.6%

Prairies

$1,683

$7,588

30.2%

Ontario

$2,159

$9,233

33.6%

Quebec

$1,623

$7,460

32.9%

Maritimes

$1,890

$8,230

32.6%

Average Rent-to-Income (RTI) by City

CITY

AVG
RENT

MONTHLY INCOME

RTI

Vancouver

$2,891

$12,183

35.6%

Calgary

$2,028

$9,699

27.7% 

Winnipeg

$1,713 

$8,975

26.0%

Toronto

$2,581

$11,862 

30.6% 

Montreal

$1,605

$7,479 

32.3% 

Halifax

$2,145

$9,371

34.2%

Metropolitan Renters Have Less Financial Instability

Metropolitan renters lead on credit strength

On average, renters fall in the good credit range, with a large share in great to excellent. Year over year, we are seeing credit strength improve over time across the provinces, while this trend is reversed in larger cities. Metropolitan renters tend to have better credit suggesting more financially stable renters, compared to rural counterparts. Selecting tenants with proven credit discipline, requiring co-signers, or rent guarantees for weaker profiles can reduce delinquency risk.

National Average Credit Score

693.4

Average Credit Score By Province

  • Good: 640-699
  • Great: 700-759

National Credit Score Breakdown

RANK

CREDIT SCORE RANGE

SEGMENT
SIZE

Low

360-559

12.3%

Fair

560-639

14.2%

Good

640-699

20.5%

Great

700-759

24.6%

Excellent

760+

28.4%

Average Credit Score by City

city

CREDIT SCORe

yoy

Vancouver

731.1

Calgary

702.8

Winnipeg

654.8

Toronto

732.7

Montreal

688.2

Halifax

705.4

Key Takeaways

Stronger, More Reliable Renters Nationwide

Canada has a favourable rental environment for property owners. Stronger tenant credit health means fewer payment issues, better tenant quality, less turnover, greater retention, and greater financial stability across rental portfolios.

Tenants Outside of Big Cities are More Risky, Suggesting Stringent Screening

Credit disparities by region suggest landlords in Winnipeg or the Prairies should tighten screening, personalize terms, and maintain financial buffers to offset higher tenant-risk variability.

Toronto’s Credit Scores Are Declining Sharply (2.9% Year Over Year)

This could indicate growing financial strain among residents despite high income levels, possibly tied to increased debt loads or cost-of-living pressures. If this trend continues, it may signal emerging credit risk in an otherwise financially stable market.

Defaults and delinquencies are higher in rural areas

Although metropolitan cities are more expensive for tenants to afford, we see better quality tenants cluster within them across risk indicators such as collections rates, bankruptcy rates, and average credit scores. Property investors looking to expand their portfolios of income properties should plan strategically. Property prices may be lower in more rural areas, but tenant financial stability and risk increases in those areas as well.

Tenant risk heatmap: Collections vs. bankruptcies by city

Winnipeg

Collections

18.9%

Bankruptcies

3.9%

Credit score

655

Calgary

Collections

10.1%

Bankruptcies

2.9%

Credit score

703

Montreal

Collections

7.7%

Bankruptcies

2.1%

Credit score

688

Vancouver

Collections

7.3%

Bankruptcies

2.1%

Credit score

731

Halifax

Collections

6.7%

Bankruptcies

1.7%

Credit score

705

Toronto

Collections

4.3%

Bankruptcies

1.1%

Credit score

735

Key Takeaways

Toronto and Halifax Show Most Financially Stable Renters

With the lowest delinquency and bankruptcy rates, and maintaining strong credit performance, these cities represent lower payment risk and higher tenant reliability, making them strong rental market opportunities for landlords.

Calgary, Vancouver, Montreal Show Moderate Risk

Calgary’s rates indicate higher-than-average debt strain despite relatively solid credit scores, while Montreal’s slightly lower scores and moderate collections suggest income-to-debt imbalances among renters.

Winnipeg Leads with Highest Risk Market for Landlords

Nearly 1 in 5 tenants have accounts in collections and the highest bankruptcy rate among major cities. These trends, coupled with the city’s lower average credit score, suggest significant financial stress and a higher likelihood of missed or late rent payments.

Bankruptcy Percentage by Province

Bankruptcy Percentage by City

Collection Percentage by Province

Collection Percentage by City

  • High risk
  • Medium risk
  • Low risk