Fewer Canadians are viewing rental housing as their stepping stone to future homeownership, according to the newly published study “The Rent Cheque: Q3 2025 Rental Intelligence Report” by SingleKey, a rental risk intelligence platform.
The new report found the found the median age of a Canadian renter is 32, and 11.7% of renters have children. SingleKey’s data determined the average Canadian renter earns $67,537 annually, but the average household income is $109,000.
And despite reports of rent prices softening, affordability remains a major concern with other necessities rising in cost. On average, renters spend over one-third (38.6%) of their income on rent and debt repayments. In Vancouver, that number climbs to 41.6%. These figures put most renters well above the 30% affordability threshold.
The new report also detailed levels of renter financial instability across Canada. Renters in metropolitan hubs like Toronto and Halifax tend to have stronger credit scores (735 and 705), lower rates of collections (4.3% and 6.7%) and bankruptcies (1.1% and 1.7%), signaling more financially stable tenants. In contrast, cities like Winnipeg, Calgary, and Montreal, which have the lowest average monthly rent prices ($1,713, $2,028, $1,605, respectively), show significantly higher delinquency and bankruptcy rates. Winnipeg stands out as the highest-risk market, with nearly one in five (18.9%) tenants in collections and a bankruptcy rate (3.9%) more than triple that of Toronto (1.1%).
“The idea that renters are young, mobile, and just passing through no longer holds true. Renting is now a long-term reality for many Canadians in their 30s and 40s — often with kids, careers, and no clear path to homeownership,” says Viler Lika, founder and CEO of SingleKey.
The report analyzed thousands of rental applications from across Canada between July 1 to Sept. 30.
