Toronto may have both the highest number of residents renting homes out of anywhere in Canada, but when it comes to howtenant populations are growing across the country in the face of a dire dearth of affordability, the city isn't even in the top 10.
"At the forefront of this renter revolution lie ongoing demographic shifts — including increased numbers of newcomers, an aging population and people relocating closer to job hubs. But there are also practical reasons, like the financial benefits of renting in this high-priced housing market, as well as an increased preference for a maintenance-free lifestyle."
Vancouver, Sherbrooke and Quebec City rounded out the top five for places with the largest proportion of renters, with 54.5 per cent, 50.4 per cent and 48.6 per cent, respectively. But when it came to the municipalities where more renters are moving , it was a completely different story. Next on the list was Markham, where the proportion of people renting vs. buying surged from 13.8 per cent to 18.1 per cent , followed by Oshawa and Oakville .